Every rule, published.
Two phases, both simulated: pass the evaluation, then trade a simulated funded account paid from firm capital. Orders run in a simulator against real options market data — there is no real brokerage and no real buying power at any stage.
Two plan families
Every size ($25K / $50K / $100K simulated) comes in two flavors. The difference is permissions and drawdown style — not the payout terms.
Direct
Long calls and puts, nothing else. The cleanest line to a payout.
- Strategies
- Buy-only: single-leg long calls & puts
- Profit target
- 10% of account size
- Trailing drawdown
- 5%, updated intraday
- Eval consistency
- None
- Funded consistency
- 50% per payout cycle
Apex
The whole toolbox — spreads, condors, calendars, butterflies, short premium.
- Strategies
- All (Level 5): spreads, condors, calendars, butterflies, naked shorts
- Profit target
- 12% of account size
- Trailing drawdown
- 6%, updated end of day
- Eval consistency
- 30%
- Funded consistency
- 30% per payout cycle
Phase 1 — Evaluation (simulated)
One phase, one job: reach the profit target without touching the trailing drawdown floor. There is no daily loss limit, no minimum trading days (a same-day pass is possible), and no time limit — your subscription simply renews monthly until you pass or cancel.
| Plan | Monthly | Profit target | Trailing drawdown | Updates | Eval consistency |
|---|---|---|---|---|---|
| $25K Direct | $188/mo | 10% = $2,500 | 5% = $1,250 | Intraday | None |
| $50K Direct | $224/mo | 10% = $5,000 | 5% = $2,500 | Intraday | None |
| $100K Direct | $305/mo | 10% = $10,000 | 5% = $5,000 | Intraday | None |
| $25K Apex | $242/mo | 12% = $3,000 | 6% = $1,500 | End of day | 30% |
| $50K Apex | $314/mo | 12% = $6,000 | 6% = $3,000 | End of day | 30% |
| $100K Apex | $395/mo | 12% = $12,000 | 6% = $6,000 | End of day | 30% |
The floor trails your highest simulated equity — tick by tick on Direct, once at the close on Apex. Either way, tagging the floor intraday ends the account: on Apex the end-of-day step only governs when the floor moves up, never when a breach registers.
Your single best winning day may not exceed 30% of your total winning-day profit (losing and flat days count as zero). Missing the mark never fails the account — you simply keep trading until a normal day dilutes the big one below the line. Direct carries no consistency rule during the evaluation.
Blew the eval? A Pit Stop puts the same account back at the max-drawdown level and hands you 1.5% of extra drawdown room. One use per evaluation purchase, evaluation accounts only — and profit progress resets with it.
Phase 2 — Funded (simulated, payouts from firm capital)
When you pass, a flat $89 activation fee (same on every size) is due before the account is promoted to funded — refunded in full on your first payout. Your monthly subscription is cancelled automatically at funding, and cancelling eval billing never closes a funded account.
- Profit split80 / 20 in your favor, from the first payout.
- Per payoutWithdraw up to 50% of your simulated profits, subject to the progressive cap for that payout number (table below).
- When you can requestAnytime you're eligible. After a payout, your next request requires the balance to be at least $1 above the previous post-payout balance.
- Funded consistencyPer payout cycle: Direct 50%, Apex 30% — your best winning day vs the cycle's winning-day profit. The counter zeroes out after every payout; coming up short delays eligibility, it never fails the account.
- Drawdown lockThe same trailing drawdown follows you into funded — until your balance reaches the lock level (your starting balance). From then on the floor stops trailing and locks static at the starting balance.
- VerificationIdentity (KYC) verification is required before your first payout.
Progressive payout caps (payouts 1–4)
| Plan | 1st | 2nd | 3rd | 4th | Minimum payout |
|---|---|---|---|---|---|
| $25K Direct | $1,000 | $1,000 | $1,500 | $2,500 | $500 |
| $50K Direct | $1,000 | $1,500 | $2,000 | $5,000 | $1,000 |
| $100K Direct | $2,000 | $3,000 | $4,000 | $10,000 | $2,000 |
| $25K Apex | $1,000 | $1,500 | $2,000 | $3,000 | $500 |
| $50K Apex | $1,000 | $1,500 | $2,000 | $3,000 | $1,000 |
| $100K Apex | $2,000 | $3,000 | $4,000 | $6,000 | $2,000 |
Instruments & strategies
US-listed equity and ETF options on a whitelist of underlyings per plan, enforced automatically by the platform — if it's not on your plan's list, the order won't route. 0DTE and weeklies are available on supported underlyings. Overnight holds are allowed in both phases, and trading through news (CPI, FOMC, earnings) is fine. Positions still open at 4:00 PM ET on expiration day are auto-closed. Minimum order size is 1 contract.
✓ Direct — buy-only
- Long calls
- Long puts
- 0DTE & weeklies on supported underlyings
- Overnight holds
Not on Direct
- Selling options (no short legs)
- Spreads & multi-leg structures
- Naked shorts / undefined risk
✓ Apex — all strategies (Level 5)
- Long calls & puts
- Vertical & credit spreads
- Iron condors & butterflies
- Calendar & diagonal spreads
- Naked shorts / undefined risk
- Multi-leg entry, legging & rolling
- 0DTE & weeklies on supported underlyings
- Overnight holds
Account conduct
- ProhibitedFraud or identity misuse, market abuse, collusion, unauthorized account sharing or copying, and circumventing rules across accounts.
- ChargebacksA chargeback suspends the account and blocks payouts while it is investigated.
- EnforcementRules are enforced by the trading platform in real time; the figures on this page are the same parameters the platform enforces.
Simulated environment — plain and simple
Every account on Redline Options — evaluation and funded — operates in a simulated environment. No user trades real money, real securities, or real capital at any stage. Payouts are real USD paid from firm capital based on simulated performance. Redline Options is not a broker-dealer, investment adviser, or registered financial institution.