For investors looking for option trading opportunities, the Option Chain tool offers real-time quotes on option contracts for an underlying symbol. To stream a specific option contract, right-click on the strike price for the underlying symbol you entered in the Symbol drop-down menu and select Add to Quote Grid.
To View an Option Chain:
- Click the Option Chain button at the top of the Quote Grid window.
- Input an underlying symbol into the entry field provided. To choose an underlying symbol from the stock list displaying in the Quote Grid window, open the Enter Symbol drop-down menu and click on a symbol from the drop-down menu.
- The Scottrader Option Chain window is programmed to use the current month as the default expiration date and display all strike prices listed for that month. To define your search by expiration or strike pricing, use the Expiry and Strike Price drop-down menus.
- A quote for the symbol you entered will display at the top of the Option Chain window. Below the quote, a list of available option contracts and the call and put information for each contract will be provided. Calls are listed in the left column and puts are listed in the right column.
- Right-click on any option contract to open a Trade window.
To view only calls or puts for a security, use the arrows located in the top toolbar to collapse the appropriate column in your Option Chain window. To expand the hidden column, click the arrows a second time.
Color Codes in the Option Chain Window:
- Light Green - The option contract is 'in the money'.
- Light Blue - The option contract is 'near the money'.
- White - Theoption contract is 'out of the money'.
To view the expiration date of an option contract, mouse over the expiration month in the Expiry column. The number of days until expiration is presented according to calendar days (not business days).
Use the Linker Tool to connect the Option window to other windows throughout Scottrader.
Please Note–Option contracts accompanied by an asterisk (*) are non-standard or have been adjusted. Option contracts may be adjusted when there is a reorganization, split or other corporate action involving shares of the underlying security. Adjusted options contracts cannot be traded online. Please contact your local branch for more information.