Video intro plays
Narrator: Looking to place an order to cover short positions? To begin, navigate to Trade and select Stocks & ETFs. Then, select the account that you'd like to place the trade from.
Trade, then Stocks & ETFs is selected. An account is selected.
Narrator: Next, enter the ticker symbol of the security you wish to cover in the Symbol field.
A ticker symbol is entered.
Narrator: Note that to cover short positions, you must have an existing short position. Under the symbol, click Buy to Cover.
Buy to Cover is selected.
Narrator: This will pre-populate the order form with the necessary information needed to cover for the existing short positions. Be sure to update any applicable fields, such as Cost Basis Method, as needed. The Order type and Price fields give you control over the price at which you're willing to buy to cover.
Various trade ticket items are highlighted.
Narrator: To learn more about each order type, click on the blue information icon.
The blue information icon is selected, a popup appears, then the popup is closed.
Narrator: For this example, we'll proceed with a market order. Once you're done, click on Review Order.
Review Order is selected.
Then, once you finish reviewing your order information, click Place Order to place your trade.
Place Order is selected.