Options trading rebates.
Explained.
On Public, you can earn up to $0.18 per stock and ETF options contract.
Here’s how it works.
First things first: where the rebate money actually comes from.
Every options platform makes money from your trades. That’s because of payment for order flow (PFOF), where market makers pay brokerages to route orders to them. It’s a standard, required part of how options trading works.
What makes Public different is what we do with our PFOF revenue: share it with you.
That’s the foundation of our Options Trading Rebate Program, a model that turns a behind-the-scenes industry norm into a direct benefit for our members.
Every platform has fees.
Our rebates offset them.
Unlike most options platforms, we don’t charge commissions on stock and ETF options. The only fee you pay is a mandatory regulatory fee—something required no matter where you trade.
Here’s the difference on Public: our rebates don’t just cover that fee—they exceed it.
The result? A net transaction cost that’s actually negative.
| Broker | Rebate | Fees |
|---|---|---|
| Earn up to $0.18per stock and ETF contract | $0.06 | |
| Robinhood | None | $0.04 |
| TD Ameritrade | None | $0.69 |
| Fidelity | None | $0.84 |
Trading fees for competitors were taken from their website on 12/4/25, and are exclusive of promo rates. The trading fees above are an approximation, are subject to change, and may vary based on factors such as the total number of contracts and price per contract. See terms & conditions for enrolling in Public’s options rebates at public.com/disclosures/rebate-terms. Supporting documentation upon request.
Putting it all together:
The math behind your rebates
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Rebate tiersEarn up to $0.18 per stock or ETF options contract
As your monthly trading volume increases, you move into higher rebate tiers. That multiplier effect is how small cents can add up to meaningful dollars.
*We provide an adjusted rebate on QQQ, SPY, IWM, and all contracts traded via the API. Members in Tiers 1-3 earn $0.06 per contract, while Tier 4 earns $0.10 per contract. -
Cost breakdownSee your savings on every trade
Each options trade on Public comes with a transparent breakdown of your costs and rebates, showing exactly what you saved.
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The Rewards HubKeep track of every rebate you earn
Your running rebate total is always visible in your Rewards Hub, where you can easily track your savings. Some of our most active traders have earned over $50,000 in a single month.
Options trading is usually opaque.
We’re not.
Let’s be honest: options trading is often more confusing than it needs to be. We think you deserve to know exactly how your platform works—and why.
So we’ve built our approach around transparency, plain and simple.
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We're showing you exactly where the money for your rebate comes from (PFOF).
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We break down the cost and rebate on every single options trade you make.
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We provide you with a running total of your earnings, which you can track in your Rewards Hub.
Ready to start earning rebates
on your options trades?
Most platforms keep 100% of the revenue from your options trades. We believe in sharing the value with our members. That’s what better alignment looks like.
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