Video intro plays
Narrator: Interested in making a covered call options trade? You can make options trades via the All-In-One Trade Ticket. A covered call is selling a call on a security that you hold shares of, usually 100 shares per standard option contract, so be sure that you hold the necessary shares of a particular security in your account. Please note that your account must be approved for options trading before a covered call trade can be made. To get started, select Trade, then select All-In-One Trade Ticket.
Trade, then All-In-One Trade Ticket is selected.
Narrator: Enter the symbol for the security that you hold shares of, then under Strategy select Call.
Call is selected as the strategy.
Narrator: Select Sell to Open under Action and choose the desired strike price and expiration date for the call option.
Sell to Open is selected as the action, and a strike price and expiration date are selected.
Narrator: Complete the order by selecting the order type, and if applicable, price information and timing.
The rest of the trade ticket is filled out.
Select Review Order and check the order details for accuracy before selecting Place Order to place your trade.
Review Order, then Place Order is selected.
If you don't yet have the stock required to place a covered call, you can instead place a "Buy Write" trade, which combines the acts of buying shares of a security and selling the call in one trade. To do this, select Buy Write as the Strategy.
Buy Write is selected as the strategy.
Narrator: Complete the remaining details for the order, including the strike price, expiration date, order type and, if applicable, pricing information.
The rest of the trade ticket is filled out.
Narrator: Select Review Order, and when ready, select Place Order to place your trade.
Review Order, then Place Order is selected.
Video outro plays