Place a Single-Leg Options Trade | thinkorswim®

Upbeat music plays throughout.

Narrator: This demo shows how to place a single-leg options trade on thinkorswim^®.

Animation: NFLX is entered in the ticker box.

To begin, go to the Trade tab and enter a ticker symbol.

The option chain displays all available expirations.

Animation: The 24 AUG 18 options are selected and displayed.

Narrator: Select an expiration.

The strike prices available for the selected expiration appear. Use the Strikes field to adjust the number displayed.

Animation: The Net Change column is selected, and a list appears. The Option Theoreticals & Greeks are selected displaying another list. Delta is selected from the list. The options deltas are displayed on the options chains.

Narrator: You can adjust the columns in the option chain to sort by additional criteria other than strike. For example, to select a strike based on delta, change either one of the first two columns under CALLS—or the last two columns under PUTS—to Delta.

Select a strike price to initiate an order. There are two ways to do this.

Right-click anywhere in the row to bring up a list of menu items, including Buy, Single.

Animation: Menu opens up, mouse hovers over BUY, and a secondary menu appears. Single is selected.

Another way to buy or sell the option is to simply select the ask or bid price.

From here, adjust the quantity and ensure that the symbol, expiration, and strike are correct.

Next, select the order type, adjust the price using the slide bar or enter a new price, then select time in force.

Finally, select Confirm and Send. Review the order information again, then select Send.

After placing an order, you can check its status on the Monitor tab under Filled Orders if it's been filled—or under Working Orders if it hasn't.

To close an order, right-click the ticker symbol, and select Create closing order.

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