Place Advanced (Multi-leg) Option trades from the Options -Advanced tab in the Trade tab.
|
Get a quick overview of all the Trade Tab features in this self-paced Trading training course.
Stock and/or option symbols and price and volume data
shown here are for illustrative purposes only. Charles Schwab & Co.,
its parent or affiliates, and/or its employees and/or directors may have
positions in securities referenced herein, and may, as principal or agent,
buy from or sell to clients.
STEP 1 - Set Up Strategy | ||
Strategy Filter / Combo |
| |
Underlying Symbol | Type the symbol for the underlying equity or index for the options you wish to trade. When you are finished, click Get Spreads and view the results for the specified strategy.
Combos: For combos, enter the option symbol for each leg (Leg 1 will accept equity symbols too) and then click Get Spreads. When entering an option symbol, follow the format: XYZ MM/DD/YYYY 00.00 C where XYZ is the underlying symbol (root symbol), followed by the expiration date, strike price and C or P for Call or Put. Stock and/or option symbols and price and volume data shown here are for illustrative purposes only. Charles Schwab & Co., its parent or affiliates, and/or its employees and/or directors may have positions in securities referenced herein, and may, as principal or agent, buy from or sell to clients. | |
Strategy | Select the Strategy for which you wish to find option pairings. Refer to the Advanced Options Overview for more information on each strategy. StreetSmart.com® automatically shows you only
the Strategies that are available for your Option Approval level.
| |
Strategy Variables | These are the fields where you can customize the pairing results by specifying calls/puts, expiration month, strike range, etc. Each strategy has a unique set of variables which are explained in the step-by-step Placing an Advanced Options Order topic. | |
STEP 2 - Select from results to load order | ||
Option Pairings | Shows all the pairings for that symbol based on the Strategy and Strategy Variables you have selected. Click on any of the pairings to load the order into "Step 3 - Set up order" panel. | |
STEP 3 - Set up order | ||
Order Settings | In this panel, you will set up your contract quantity, action, price, etc. | |
PREVIEW TRADE | ||
Preview | The Preview panel shows information such as Max Gain, Max Loss, and Break Even values for most opening transactions, which will adjust as you change the details of your order.
|
Read the Placing an Advanced Options Order topic for step-by-step instructions for placing an Advanced Options Order.
Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Multiple leg options strategies will involve multiple commissions. Please read the options disclosure document titled "Characteristics and Risks of Standardized Options." Member SIPC
With long options, investors may lose 100% of funds invested. Multiple leg options strategies will involve multiple commissions.
Copyright ©Charles Schwab & Co., Inc. 2011. All rights reserved. Member SIPC. (0711-4448)