A crucial risk question: can NoVo lose you more than the money you put into a trade? For the kind of options NoVo trades — long single options, i.e. buying calls and puts — the answer is no: your maximum loss on a position is the premium you paid for it. Here's why, and the honest caveats.
Why long options cap your loss
When you buy a call or put, you pay a premium for the right — not the obligation — to exercise. If the trade goes against you, the worst that happens is the option expires worthless and you lose what you paid. You can't be forced to add more; there's no margin call spiraling beyond your stake. This is fundamentally different from selling naked options or using leverage/margin in ways that can lose more than you put in. NoVo trades long single options, so the defined-risk, can't-lose-more-than-premium property holds.
The honest caveats
Two things to be clear about. First, “can't lose more than the premium” is per position — you can still lose money across many trades, which is why position sizing and loss limits matter. Second, on leveraged 0DTE options the premium can go to zero fast, so “only” losing the premium can still be a 100% loss of that position quickly. Capped is not the same as small.
Buying options means your downside per trade is fixed at what you paid — no nasty surprises beyond your stake. But “fixed” can still be “all of it,” and many trades add up.
Why this design is deliberate
Trading defined-risk long options is part of NoVo's risk-first architecture: your downside on any single trade is known and bounded before you enter (it's the premium, and your stop aims to exit well before even that). Combined with the boundaries you set, it means no single trade can produce a surprise loss larger than the capital you committed to it. That's a meaningful safety property — but it never replaces sizing and discipline across your whole account.