Upbeat music plays throughout.
Narrator: In this video, you'll learn how to trade options on thinkorswim® mobile for Android. To begin, pull up a watchlist and select an optionable symbol. This takes you to quote details.
On-screen text: Disclosure: Specific securities used to demonstrate trading functionality were selected randomly.
Narrator: To bring up the option chain, select the Options tab below the underlying quote.
For this video, we'll demonstrate how to place an order to buy a single call option. Note that the steps are the same to buy a put.
To buy a single call, make sure the spread menu is set to Single, then tap the ask price for your desired contract. This takes you to the order editor. At the top the of order editor you can see the current quote of the selected option contract. To change to a sell order or vice versa, tap the direction.
Next, set your price. If you see the open lock, the price will move with the market.
To manually edit the price, select the trade price, enter a value, and it will lock.
If there are multiple accounts linked, scroll to the bottom and select which account to place the trade in. To customize the order editor, select the gear wheel. You can add or remove any widget and arrange their order. Click the back arrow to return to the order editor.
Make any adjustments to the order then, tap Review. Here you can see the quote for the underlying stock and your option, along with the details of your trade. Once you are ready, hit Send to place your order. This will take you back to quote details.
To view all orders, open the main menu and select Orders.
In the order book, you can view Working orders along with Filled, Saved, and Canceled orders.
That's how to trade a single option. You can also trade complex spreads by filtering the option chain to show different spreads. And here you can also customize the strikes shown along with the exchange.
Never miss a trade with thinkorswim mobile.
On-screen text: [Schwab logo] Own your tomorrow®
