I just received my EAD card after submitting my I-485 application based on an EB-5 case that is under the name of my wife. Meanwhile, I am about to finish my study at a U.S. college. In this case, do I need to or am I eligible to apply for OPT? In a worst-case scenario, if my I-485 gets denied, should I apply for OPT as an alternative?
OPT (optional practical training) authorizes you for stay and employment. It does not authorize you to study in the U.S. Irrespective, at this stage of your processing, you can work and study in the U.S. under the pending status.
Since you have employment authorization now, you do not need to apply for an EAD card based on OPT. However, if your immigration attorney feels that your I-485 application could be denied, then you could file an I-765 application based on OPT.
It would not hurt to get the I-20 endorsed for OPT. You can then either file for the EAD or not, but I would recommend filing for it.
It is advisable that you continue to use your I-485 related EAD.
It is always a good idea to maintain valid nonimmigrant status. If that requires applying for OPT, then you should indeed apply for OPT.
Technically there is nothing stopping you from applying for an F-1 OPT. The advantage is that if approved, and the adjustment is denied, you will not automatically be placed in removal proceedings.
