Best Options Prop Trading Firms (2026)
An options prop firm funds you to trade listed options — most often index and ETF options such as SPX, SPY and QQQ — with the firm’s capital once you pass a paid evaluation, and you keep most of the profit. Options is the newest market FundedEnigma tracks: Options Funding is the first options firm on the site, and more will be added as we verify them. Each links to a full review; the FundedEnigma code shown applies the firm’s current discount.
Last updated: September 29, 2026 · How the Enigma Score works
Bottom line
The best options prop trading firm in 2026 is Options Funding (accounts from $111.60, 80/20 profit split, EOD trailing (Growth) / intraday trailing (Express) drawdown, per payout: 8 winning days in the cycle (no calendar wait) payouts). Every firm below honors its FundedEnigma code (shown in the table) for the current discount; the full ranked list and how the Enigma Score is calculated are shown beneath this summary.
| # | Prop Firm | Enigma Rating | Profit Split | Drawdown | From | Discount (code) | Updated |
|---|---|---|---|---|---|---|---|
| 1 | Options Fundingoptions | 6.6/10 (Strong) | 80/20 | EOD trailing (Growth) / intraday trailing (Express) | $111.60 | 60% off (FE) | September 29, 2026 |
How options prop firms work
The model mirrors futures and forex prop firms: you buy an evaluation, hit a profit target without breaching the loss limits, then trade a funded account and split the profits with the firm. The difference is the instrument — you trade calls and puts (and, where the firm allows, spreads) on liquid underlyings such as the S&P 500 index (SPX), the SPY and QQQ ETFs and large-cap stocks.
Rules that matter more with options than elsewhere: which underlyings and expiries are allowed (0DTE is often restricted), whether you may sell premium or only buy it, position-size and contract limits, and whether positions may be held overnight or through earnings. Check these on the firm’s review page before you pay.
Why a dollar drawdown matters more with options
An option’s premium can swing by a large percentage of its value in minutes, and it can decay toward zero into expiry. A drawdown stated in dollars — and whether it is static, end-of-day or trails your peak intraday — decides how many contracts you can realistically hold before one move ends the account. A trailing drawdown that follows unrealised option gains is especially harsh, because premium you did not bank still raises the floor.
That is why the Enigma Score counts only the usable part of the loss buffer and weighs the real all-in cost (evaluation plus any activation fee, after the FundedEnigma discount). Options plans are scored against our all-plan reference until we track enough options plans to form a peer group of their own.
Frequently asked questions
- What is an options prop firm?
- A proprietary trading firm that funds traders to trade options — typically index and ETF options such as SPX, SPY and QQQ — with the firm’s capital. You usually pass a paid evaluation first, then trade a funded account and keep most of the profit.
- What is the best options prop firm?
- By the Enigma Score, the top options firm and the full ranking are shown in the table on this page. Options is a new market on FundedEnigma — Options Funding is the first options firm we track — so the list will grow as we verify more firms.
- How is an options prop firm different from a futures prop firm?
- The evaluation-then-funded model is the same, but you trade calls and puts instead of futures contracts. Premium moves faster and decays with time, so the drawdown type, contract limits and rules on 0DTE, overnight holds and selling premium matter more than they do on a futures account.
- Do I need a discount code for an options prop firm?
- Use the FundedEnigma code shown next to the firm (FE for most firms, a firm-specific code for some) at checkout. It applies the firm’s current discount at no extra cost while attributing the sale to FundedEnigma.
How FundedEnigma ranks these firms
This ranking is ordered by the Enigma Score — a transparent, data-driven 0–100 rating built from each firm’s true all-in cost, payout reliability, drawdown fairness and trust signals. The exact inputs and weights are published in full on the methodology page; placement cannot be bought.
Firm data is captured original-source-first from each firm’s official website, with Trustpilot used for aggregate review signals, and refreshed daily — so the prices and discounts above stay current within 24 hours. Every customer-facing number is reviewed before it goes live.
Editorial independence & affiliate disclosure. FundedEnigma earns a commission when a trader signs up using code FE, which passes through the firm’s own currently-running public discount at no extra cost to you. Affiliate relationships do not influence the Enigma Score or a firm’s position — read more on our about page.
Reviewed by the FundedEnigma Editorial Team · Methodology · Editorial policy · Last updated September 29, 2026