Strix Options Review 2026
Strix Options: The Prop Firm Built for Options Traders
Strix Plan vs Express, evaluation rules, trailing drawdown, payout rules and minimum winning days, approved tickers, the Live stage and everything an options trader needs to know before getting funded.
Discount code · 55% off
PROP
Built for options traders80% profit splitOne-time fee, no subscriptionNo time limitNo minimum daysLevel 5 options access~275 approved tickers
Check Current Strix Options Offer ‚Üí
The structure
Two plans, four account sizes
The Strix Plan and the Express Plan both come in $10K, $25K, $50K and $100K sizes. Strix gives you full multi-leg options access; Express is a cheaper, buy-only path with a lower profit target.
The differentiator
Real options strategies, funded
Credit spreads, iron condors, butterflies, calendars, straddles, strangles and even naked options on the Strix Plan. 0DTE, earnings, news and overnight holds are all allowed.
Who is Strix Options
A Miami-based funding program for options traders
Strix Options LLC (1945 Brickell Ave, Miami, FL) runs an options-only evaluation program. You pay a single one-time fee, trade a simulated account on the RixTrade platform with live market data, and once you hit the profit target you move to a Funded account that pays out 80% of your profits. Top performers can be invited to a Live account trading the firm’s own capital through Interactive Brokers.
Program in 3 steps
1 · Evaluation — hit 12% (Strix) or 8% (Express)
2 · Funded — 80/20 split, request payouts
3 · Live — real firm capital, no payout caps
Strix Plan accounts
Strix Plan evaluation accounts
The Strix Plan is the full options experience: buying and writing, multi-leg structures and undefined-risk positions. The drawdown floor moves up only once per day at the close (End of Day), with a 12% profit target and a 6% trailing drawdown.
Strix Evaluation
$10K Strix
$80.55
One-time · $179 with code PROP
Profit Target (12%)$1,200
Trailing Drawdown (6%)$600
Drawdown UpdateEnd of Day
Daily Loss LimitNone
Time LimitNone
Min Trading DaysNone
Funded Activation$69
Level 5 options
Buy & sell, multi-leg, undefined risk
80% profit split
Strix Evaluation
$25K Strix
$134.55
One-time · $299 with code PROP
Profit Target (12%)$3,000
Trailing Drawdown (6%)$1,500
Drawdown UpdateEnd of Day
Daily Loss LimitNone
Time LimitNone
Min Trading DaysNone
Funded Activation$89
Level 5 options
Buy & sell, multi-leg, undefined risk
80% profit split
Most Popular
Strix Evaluation
$50K Strix
$188.55
One-time · $419 with code PROP
Profit Target (12%)$6,000
Trailing Drawdown (6%)$3,000
Drawdown UpdateEnd of Day
Daily Loss LimitNone
Time LimitNone
Min Trading DaysNone
Funded Activation$119
Level 5 options
Buy & sell, multi-leg, undefined risk
80% profit split
Max Capital
Strix Evaluation
$100K Strix
$256.05
One-time · $569 with code PROP
Profit Target (12%)$12,000
Trailing Drawdown (6%)$6,000
Drawdown UpdateEnd of Day
Daily Loss LimitNone
Time LimitNone
Min Trading DaysNone
Funded Activation$149
Level 5 options
Buy & sell, multi-leg, undefined risk
80% profit split
Express accounts
Express Plan evaluation accounts
Express is built for directional options buyers. It is buy-only (single-leg long calls and long puts), comes with a lower 8% profit target and a lower entry price, and uses a 4% intraday trailing drawdown.
Express Evaluation
$10K Express
$53.55
One-time · $119 with code PROP
Profit Target (8%)$800
Trailing Drawdown (4%)$400
Drawdown UpdateIntraday
Daily Loss LimitNone
Time LimitNone
Min Trading DaysNone
Funded Activation$69
Long calls & puts
Lower 8% target, lower price
80% profit split
Express Evaluation
$25K Express
$80.55
One-time · $179 with code PROP
Profit Target (8%)$2,000
Trailing Drawdown (4%)$1,000
Drawdown UpdateIntraday
Daily Loss LimitNone
Time LimitNone
Min Trading DaysNone
Funded Activation$89
Long calls & puts
Lower 8% target, lower price
80% profit split
Best Value
Express Evaluation
$50K Express
$103.05
One-time · $229 with code PROP
Profit Target (8%)$4,000
Trailing Drawdown (4%)$2,000
Drawdown UpdateIntraday
Daily Loss LimitNone
Time LimitNone
Min Trading DaysNone
Funded Activation$119
Long calls & puts
Lower 8% target, lower price
80% profit split
Express Evaluation
$100K Express
$152.55
One-time · $339 with code PROP
Profit Target (8%)$8,000
Trailing Drawdown (4%)$4,000
Drawdown UpdateIntraday
Daily Loss LimitNone
Time LimitNone
Min Trading DaysNone
Funded Activation$149
Long calls & puts
Lower 8% target, lower price
80% profit split
Promo prices shown with code PROP (55% off the evaluation). The code applies to the evaluation fee; the funded activation fee is charged separately at activation.
Strix vs Express
Which Strix Options plan fits your trading style?
| Feature | Strix Plan | Express Plan |
|---|
| What you can trade | Everything: buy & sell, multi-leg, undefined risk (Level 5) | Buy-only: single-leg long calls and long puts |
| Profit target | 12% of account | 8% of account |
| Trailing drawdown | 6% of account | 4% of account |
| Drawdown update | End of Day | Intraday |
| Credit spreads, condors, butterflies | Yes | No |
| Naked short options | Yes (must fit within drawdown) | No |
| 0DTE, news, earnings, overnight | Yes | Yes |
| Evaluation price | $179 – $569 | $119 – $339 |
| Profit split | 80% | 80% |
| Best for | Spread traders, premium sellers, multi-leg strategies | Directional options buyers |
Evaluation rules
How to pass the Strix Options evaluation
The evaluation has one goal: reach the profit target without touching the trailing drawdown floor. There is no clock and no day count, so one strong session can be enough.
No time limit
Evaluations never expire. Trade at your own pace.
No minimum trading days
You can pass in a single trading session.
No consistency rule
Nothing caps how much of your evaluation profit comes from one day.
No daily loss limit
Only the trailing drawdown floor applies.
Instant account
Your evaluation account is issued on the spot after checkout.
Unlimited resets
Breached? Reset at 10% less than you paid, as many times as you need.
Up to 10 accounts
Run up to 10 open evaluations and funded accounts at once.
One-time fee
No monthly billing, nothing renews, nothing to cancel.
| Account | Strix Target | Strix Drawdown | Express Target | Express Drawdown |
|---|
| $10K | $1,200 | $600 | $800 | $400 |
| $25K | $3,000 | $1,500 | $2,000 | $1,000 |
| $50K | $6,000 | $3,000 | $4,000 | $2,000 |
| $100K | $12,000 | $6,000 | $8,000 | $4,000 |
Risk model
How the Strix trailing drawdown works
The drawdown floor trails upward behind your equity peak and never moves down. On the Strix Plan the floor moves up once per day at the close; on Express it follows your peak in real time. On both plans the floor is monitored live during the session.
Example · Strix Plan $50K
Start: $50,000 ‚Üí floor at $47,000
Day 1 closes at $52,000 ‚Üí floor moves to $49,000
Day 2 closes at $53,000 ‚Üí floor moves to $50,000
Drawdown lock (Funded)
In the Funded stage the floor stops trailing once it reaches your starting balance, e.g. $50,000 on a $50K account, and stays there.
Reset on activation
Activating your Funded account resets the trailing drawdown to a fresh starting point.
Expiration handling
Expiring positions are auto-closed at 3:55 PM ET (4:10 PM ET for SPY, QQQ, IWM, DIA), so assignment and pin risk never reach your account.
Payouts
Strix Options payout rules
Once funded, you keep 80% of your profits. Payouts are requested from the dashboard, reviewed against the rules and sent by ACH or international wire.
80% profit split
You keep 80%, the firm keeps 20%, in both Funded and Live.
8 winning days per payout
Each payout cycle needs 8 qualifying winning days. They do not have to be consecutive, and losing days never remove a day from your count.
Qualifying day
A day that closes with realized profit of at least $200 (100K), $150 (50K) or $100 (25K and 10K).
Up to 50% per payout
Each payout can draw up to 50% of your profits, within the cap for that payout number.
No consistency rule
No single-day cap in Funded either: the 8 winning days are the only cycle requirement.
Fast payment
Approved payouts typically clear within a few business days by ACH (US) or international wire.
Payout minimums and caps by account
| Account | Minimum | Payout #1 | Payout #2 | Payout #3 | Payout #4 |
|---|
| Strix $100K | $2,000 | $2,000 | $3,000 | $4,000 | $6,000 |
| Strix $50K | $1,000 | $1,000 | $1,500 | $2,000 | $3,000 |
| Strix $25K | $500 | $1,000 | $1,500 | $2,000 | $3,000 |
| Strix $10K | $250 | $1,000 | $1,500 | $2,000 | $2,500 |
| Express $100K | $2,000 | $2,000 | $3,000 | $4,000 | $10,000 |
| Express $50K | $1,000 | $1,000 | $1,500 | $2,000 | $5,000 |
| Express $25K | $500 | $1,000 | $1,000 | $1,500 | $2,500 |
| Express $10K | $250 | $1,000 | $1,000 | $1,500 | $2,000 |
How you get paid
- ACH for US traders, international wire for everyone else
- Sent from Strix’s bank account via Mercury
- Receiving details set up through a secure email after approval
- Funded activation fee is paid upfront, so nothing is deducted from payouts
Before your first payout
- Quick KYC inside the payout flow: ID front, ID back and a selfie
- W-9 for US taxpayers, W-8BEN for non-US traders
- Name on the bank account must match your ID
- You can keep trading while KYC is reviewed
After your first payout, each new request needs your balance to be at least $1 above the balance at your previous request (adjusted for any amount the cap held back), and every new cycle starts its own count of 8 qualifying days.
Funded stage
Activating your Strix funded account
When you pass, you activate the Funded account from your dashboard and it is issued right away. Activation is a single one-time fee, and from there the 80/20 split runs from day one.
| Account | Funded Activation Fee | Funded Drawdown (Strix / Express) | Floor Locks At |
|---|
| $10K | $69 | $600 / $400 | $10,000 |
| $25K | $89 | $1,500 / $1,000 | $25,000 |
| $50K | $119 | $3,000 / $2,000 | $50,000 |
| $100K | $149 | $6,000 / $4,000 | $100,000 |
Resets are available for evaluations only. If a Funded account touches the floor it closes, and a new evaluation is the way back.
Live stage
Going Live: trading real firm capital
Live is the top of the Strix program: a real Interactive Brokers account trading the firm’s own capital. Traders are selected by Strix based on performance and compliance and receive a Live Program Notice. There is nothing to buy and no fee to pay.
| Promoted from | Live Capital | Trailing Drawdown | Floor Locks At | Daily Loss Limit (until lock) |
|---|
| $100K Funded | $50,000 | $5,000 | $50,100 | $1,500 |
| $50K Funded | $25,000 | $2,500 | $25,100 | $750 |
| $25K Funded | $12,500 | $2,000 | $12,600 | $600 |
No payout caps
Withdraw 100% of your realized profit above allocated capital, $100 minimum.
No winning-day requirement
Live payouts are not tied to a payout cycle.
80/20 split continues
You keep 80% of realized net profit, paid from the firm’s own funds.
Defined-risk trading
US stocks, US options and US index options with fully defined risk.
One Live account
Sized from your largest eligible Funded account ($25K, $50K or $100K).
30 days to decide
You have 30 calendar days to accept or decline the Live Program Notice. Pending payout requests are held while the notice is open: accepting moves you to Live, declining pays pending requests up to $3,000 total.
Trading freedom
What you can trade at Strix Options
0DTE options
Allowed on any approved ticker, including 0DTE iron condors on the Strix Plan.
News & earnings
CPI, FOMC and earnings are all fair game, in every phase.
Overnight & weekend
Hold positions overnight and over the weekend on every plan.
Multi-leg strategies
Spreads, condors, butterflies, calendars, diagonals, straddles, strangles, ratio spreads (Strix Plan).
Naked options
Undefined risk allowed on the Strix Plan, within your drawdown floor.
Weeklies, rolls, legging in
Weekly options, rolling positions and legging into multi-leg trades are supported.
Manual execution
Orders are placed by hand in RixTrade. Chart on TradingView or any tool you like; API and auto-routing are not used.
Trade from anywhere
Web-based platform that works on desktop and mobile browsers, including while traveling.
Platform and markets
RixTrade platform and ~275 approved tickers
Strix accounts trade on RixTrade, a web-based options platform with full options chains, multi-leg order entry, live position management and execution under 10ms. Trades run on live market data, with trade history and journal export in the dashboard.
SPY · QQQ · IWM · DIA · SPX · SPXW · XSP · VIX · RUT · NVDA · TSLA · AAPL · MSFT · META · AMZN · GOOGL · AMD · AVGO · NFLX · PLTR · COIN · MSTR · HOOD · SMCI · MU · ARM · TSM · GLD · SLV · TLT · IBIT · and more
The full searchable list is on Strix’s approved-tickers page, and new ticker requests can be sent to their support team.
Eligibility
Who can join Strix Options?
Strix Options accepts traders from the US and worldwide. Checkout is not available in: Afghanistan, Belarus, Central African Republic, Cuba, both Congos, Eritrea, Haiti, Iran, Iraq, Liberia, Mali, Mozambique, Myanmar, North Korea, Palestine, Russia, South Sudan, Syria, Venezuela and Yemen.
Evaluation and Funded stages are open to every other country. For the Live stage, Interactive Brokers onboarding is not available to residents of Burundi, Libya, Nauru, Nigeria, Sierra Leone, Somalia, Sudan and Zimbabwe.
Check the current offer
One-time pricing, no deadline, 80% profit split
Use code PROP for 55% off your Strix Options evaluation.
Open Strix Options ‚Üí
Final word
Who is Strix Options for?
Strix Options is one of the few prop firms designed from the ground up for options traders. The Strix Plan suits spread traders, premium sellers and anyone who trades multi-leg structures, with Level 5 access and an end-of-day drawdown. The Express Plan suits directional traders who buy calls and puts and want a lower 8% target at a lower price.
With a one-time fee, no time limit, no minimum days, no evaluation consistency rule, 0DTE, news and overnight holds allowed, and a clear path from Funded to Live firm capital, Strix gives options traders a straightforward way to get funded doing what they already do.
Bottom line: If you trade options and you have been forcing your strategy into futures evaluations, Strix Options lets you trade spreads, condors, 0DTE and directional options in a funded program with an 80% profit split.
FAQ
Strix Options frequently asked questions
What is Strix Options?
Strix Options is a funding program for options traders. You pass a simulated evaluation on the RixTrade platform to qualify for payouts with an 80% profit split, and top traders can be invited to a Live account trading the firm’s capital.
How much does a Strix Options evaluation cost?
Strix Plan: $179 (10K), $299 (25K), $419 (50K), $569 (100K). Express: $119 (10K), $179 (25K), $229 (50K), $339 (100K). It is a one-time fee with no subscription. Code PROP gives 55% off.
What is the profit target and drawdown?
Strix Plan: 12% profit target and 6% end-of-day trailing drawdown. Express: 8% profit target and 4% intraday trailing drawdown.
Is there a time limit or minimum number of trading days?
No. Evaluations never expire and there is no minimum number of trading days.
How many days do I need before a payout?
Each payout cycle needs 8 qualifying winning days ($200+ on 100K, $150+ on 50K, $100+ on 25K and 10K). They do not need to be consecutive.
What is the minimum payout?
$2,000 on 100K, $1,000 on 50K, $500 on 25K and $250 on 10K accounts in the Funded stage. In Live the minimum is $100 with no caps.
How are payouts sent?
By ACH for US traders and international wire for traders outside the US, typically within a few business days after approval.
Can I trade 0DTE, earnings and news?
Yes. 0DTE, earnings, CPI and FOMC are all allowed on approved tickers, and you can hold overnight and over weekends.
Can I sell options or trade iron condors?
Yes on the Strix Plan, which has Level 5 options access including undefined risk. Express is buy-only.
Is there a funded activation fee?
Yes, a one-time fee at activation: $69 (10K), $89 (25K), $119 (50K), $149 (100K). Nothing is deducted from your payouts afterwards.
Can traders outside the US join?
Yes. Strix accepts traders worldwide except a short list of restricted countries. Non-US traders submit a W-8BEN instead of a W-9.
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