As of May 28, 2024, stock, ETF, and options sales settle 1 trading day after the trade date (T+1). Trading days are Monday-Friday except for stock market closures.

When placing a stock, options, or ETF trade there is a 1 day settlement period. This has been an industry-wide rule for stock, ETF, and options trades regulated by the Securities and Exchange Commission (SEC) and FINRA since May 28, 2024.

When you sell a stock or ETF, the sale proceeds need 1 trading day to settle before they become withdrawable cash (T+1 settlement). For example, if you sell on Tuesday, the proceeds settle and move into withdrawable cash on Wednesday (excluding weekends or stock market closures). Once settled, you can transfer the cash to your bank.

Once settlement is complete, your cost basis is set for tax purposes and cannot be changed. Check out Tax lots for details.