Options Trading Tab

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

View the calls and puts being traded for a stock and place trades on individual contracts in the Options tab of the Trading Window.

Enter the underlying symbol, select the option you wish to trade, select the variables for the order such as Quantity, Limit/Stop prices, and more. Then click the button for the action you wish to take (Buy to Open, Sell to Close, etc.) to send the order.

The Options Trading tab includes real-time, streaming options data and, for clients approved for options trading, automatic electronic access to all primary listed options exchanges. You may also trade index options such as $OEX. Use the Adv. Options tab to if you wish to place multi-leg option trades.

Stock symbols and price and volume data shown here and in the software are for illustrative purposes only. Charles Schwab & Co., Inc., 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.

The following table describes some of the features of the Options tab:

Symbol Field	Enter a stock symbol in the symbol field and press Enter. The option chain will be loaded into the Option tab. If you know an option symbol, you can enter the symbol (XYZ MM/DD/YYYY 00.00 C) into the symbol field. The underlying stock symbol will load into the symbol field (whether you are on the Stocks or Options tab within the Trading window).
Calls/Puts	Click the check boxes to specify whether you want to view calls, puts or both.
Expiration Month	Click the down arrow next to the call/put display buttons to select a month in which the options will expire.
Action Buttons	Allow you to determine what type of trade you want to place, or click Cancel to cancel the most recent order on the selected option symbol.

The red and green boxes you may see around the bid and ask prices indicate changing quotes, and the color indicates the direction of the change.
To see the details and cash requirements of option positions you have entered, go to the Account Detail window and click on the Positions tab. See the Positions Tab topic to find out which types of option strategies are available at each approval level. Note that approval for one level includes approval for all lower levels. For instance, if you have Level 3 approval, you may also enter Long, Covered, and Protective positions.
For more information about equity options and advanced option trading strategies, visit Schwab.com and click on My Benefits located in the At a Glance tab.