Narrator: Looking to place an options trade using the Schwab mobile app? To begin, navigate to Trade, then select Options.
Trade, then Options is selected
Narrator: Designed to make trading options intuitive, as you build the order the tool populates the relevant quote data, order details, and options contracts relevant to your single or multi-leg strategy. In this example, we'll place a single-leg call option trade. To begin, look up the name of the security you'd like to trade. Then for the Strategy, tap on Select a strategy, and select Call.
Select a strategy is selected, then Call is tapped
Narrator: A menu will appear where you'll be able to view and make your selections for the option contract you'd like to trade. Once you choose your desired option contract, fill out the remainder of the order form. Details include action, quantity, order type, limit price and timing.
Order form is filled out
Narrator: Once complete, you'll be able to see the estimated amount of your order along the bottom of the screen, which is calculated based on the quantity of contracts you've selected. Keep in mind that most option contracts represent 100 shares of the underlying security.
Once you're ready, tap on Review Order to see an overview of the information you've provided. After reviewing the order information, tap Place Order to place your trade.
Review order is tapped, then Place Order is selected