To place an options trade, login to your Qtrade account and go to Trade > Options Order Entry and input the fields required.
- Account – the account in which you wish to place the trade
- Market – choose Canadian or US market
- Underlying Symbol – the stock symbol
- Expiry Month - the month the option will expire (options typically cease trading on the third Thursday or Friday of the month)
- Expiry Year - the year the option will expire.
- Strike Price – the price at which you can buy or sell the underlying security before the contract expires
- Action (choose from the following):
- Buy Call - A call option gives you the right, but not the requirement, to purchase a stock at a specific price by a specific date at the option's expiration. When an investor purchases a call, they expect the underlying asset to rise in price. Learn more about Buying Call Options.
- Sell Call - To sell a call means you give someone else the right but not the obligation to buy the contract from you at a certain price within a certain date.
- Buy Put - A put option gives the holder the right, but not the obligation, to sell a stock at a certain price in the future. When an investor purchases a put, they expect the underlying asset to decline in price. Learn more about Buying Put Options.
- Sell Put - Put sellers make a bullish bet on the underlying stock and/or want to generate income. If the stock declines below the strike price before expiration, the option is "in the money."
- Number of Contracts - The total number of contracts you would like to buy or sell
- Order Type – Read more about order types
- Good Through - Sets the expiry date (maximum 2 months) for your order. The order will remain open (or “good”) through the close of business on the selected day unless it is filled, cancelled, or changed.
- Phone Contact – your phone number
Please Note: If multiple options have been located for the underlying symbol entered, you’ll be asked to choose the option with the expiry date you’re seeking.