Option Chains

Option Chains list the strike prices, expiration dates and other option data for the available calls and puts for an underlying security.

Navigate to the Quotes tab and select Option Chains

How it Works

1. Enter your Symbol, Range, Type, and Expiration click View Chain.
2. View real-time quotes and volumes for each leg of the chain including a net bid and ask quote for your overall strategy.
3. Click on either the bid or ask to pre-fill the All-In-One Trade Ticket.
4. Alternatively, click on Calc to analyze the strategy's P&L Chart and the Margin Requirements.

Customize your Chains

Click the icon in the upper right to customize your chain settings, including;

• Option Range
• Chain Type
• Date Range
• Strike Price Interval
• Default Symbol
• Include Adjusted / Non-standard Options
• Exclude Weeklies from Front Month
• Disable Roll Overs
• Expand All Months
• Streaming Option Quotes
• Show Change in Open Interest

Chart your Options

Hover over the icon to display a one-day chart of the underlying.

Click n’Trade

1. Seamlessly create multi-leg strategies by clicking on the check box to (B)uy or (S)ell an option you’ve selected.
2. Once selected, go directly to a Trade ticket by clicking the Trade button at the bottom of the Chain.

3. Alternative, next to the the Trade button, click the Trade Calculator button to evaluate your potential trade or Watch List button to add the selected contracts to a Watch List.

   NOTE: These features are available for "Calls and Puts" and Matrix Chains only.

   TIP: Click on a checkbox once to Buy that option (indicated by the symbol ), click the same checkbox again to Sell that option (indicated by the symbol ). A third click will Reset the checkbox to it's unselected state. You can also reset all checkboxes on the page by clicking the Reset button at the bottom of the page.

Determine the Value

To view an illustration of the percentage of an options price that is Intrinsic Value or Time Value, simply hover over the Strike Price. ("Calls and Puts" chains only.)

NOTE: This feature is available for "Calls and Puts" Chains only.

Open the Quote Book

• Hover over an option symbol to instantly view a real-time quote book for that specific option.

• Hover over "Greeks" to view Implied Volatility and Greeks values, including Delta. Roll over "Quote Book" to switch back to quotes view. ("Calls and Puts" chains only.)

  NOTE: These features are available for "Calls and Puts" Chains only.

Commissions, taxes, and transaction costs are not included in any of these strategy discussions, but can affect final outcome and should be considered. Please contact a tax advisor to discuss the tax implications of these strategies. Many of the strategies described herein require the use of a margin account. With long options, investors may lose 100% of funds invested. In-the-money long puts need to be closed out prior to expiration, since exercising them could create short stock positions.

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. Covered Calls provide downside protection only to the extent of the premium received and limit upside potential to the strike price plus premium received. Spread trading must be done in a margin account. Please read the options disclosure document titled "Characteristics and Risks of Standardized Options."