What is legging-out?

Legging out refers to the act of closing a part of a position from an options strategy.

Webull offers legging out by closing the options position.

Assume you have a covered call strategy consisting of the underlying shares and a short call. You can leg out by clicking on the short call position to close out the option leg.

By closing the short call position, you would have effectively legged out of your covered call strategy while maintaining your underlying shares.