Option trading magnifies risk and can therefore magnify profits and losses. Before engaging in options trading, it's important to understand how it works. This section will help you learn about options trading hours, how to place orders, how to check or modify orders and what commissions and fees are associated with options trading.
Options only trade during regular market hours. You cannot place orders for options for the pre-market or after-hours trading.
The Options Order Entry page is where you begin the option order process. Click the Trade tab at the top, then click Options from the menu bar on the left.
You can view the status of your option order multiple places. On the home page (click the Home tab at the top), open option orders will display under 'Open Orders'.
To modify an order, click the Modify link next to the order you want to modify on the Order Status page.
There are certain commissions associated with buying and selling options through Scottrade, as well as a fee for exercising the option.