An option chain is a tool that displays all available option contracts for a specific stock or ETF. It helps traders analyze different strike prices, expiration dates, and option prices before making a trade.
To view an options chain for a particular security, log in to your Qtrade account and go to Quotes & Market Info > Quotes & Charts, input the stock symbol or name and select it.
When you’re in the stock’s information page, choose the Options tab along the top of the display. In this tab, the drop-down menu allows you to select Type, Range and Expiry, and then select View Chain.
Below is an example of an options chain for both Calls and Puts for the ETF VFV: TSX (used for illustrative purposes only) for the March 21 expiry. The screenshot was taken on March 17 and therefore, shows that the March contract only has 4 days until expiry.
The strike price column in the middle is common to both the Call table on the left and the Puts table on the right. You can navigate to other expiries by clicking on the tabs at the top (Mar 25, Apr 25, May 25, etc.).
Click on any of the quotes to see a pop-up that shows the latest bid and ask for the ETF along with option “Greeks”. To understand how to interpret option Greeks (Delta, Theta, Vega, Gamma), review their definitions here, or refer to the Montreal Exchange Equity Options Reference Manual.
