Creating an Options Order

To create an options order

1. From the Main Menu, select Orders.

   

2. If you have orders pending, select Place New Order from the Order Management menu, shown below. Otherwise, skip to the next step.

   

3. Enter the underlying symbol and select Option as the Type, then select Submit.

   

4. Select the option right (CALL or PUT), then enter the Expiry (in the format YYYYMM) and Strike price, then select Submit Query.

   

5. Select the Ask (or Bid) price to create a Buy (or Sell) order.

Occasionally the market data snapshot will not contain any price data. If this happens, select Refresh Price to refresh the market data.



6. Verify the order parameters and select Modify to modify the order parameters.

   

You can also select:

• Transmit to transmit the order as is.

• Refresh Price to update the market data.

• Cancel to cancel the order and return to previous Create Order screen.

• Main to return to the Main Menu.

7. Change the order parameters as required:

• Action

• Size

• Price

• Time in Force

• Order Type

• Exchange



 

Select Accept to save your changes. Select Revert to undo changes and revert to your original order.

8. Review the order parameters, then select Transmit to transmit your order.

9. View the order status and order description. If necessary, scroll down to see your menu choices.

   

After you transmit your order, MobileTrader displays a description of the transmitted order, including the order status. Using the screen above as an example, here is the information that MobileTrader displays:

• IBM OPT OCT09 125.00 CALL USD SMART - the contract description, including the underlying symbol, instrument type, contract month, strike price, right, the base currency and the order destination.

• BUY 0 @ 1.7 - the order action, working quantity and price. In this example, the original order was for 1, which has already executed, leaving 0 working. The working quantity is adjusted with each execution report.

• Filled DAY LMT - the order status, time-in-force, and order type.

• TRADED - the quantity that has traded in your order. This line is only displayed if all or part of your order has traded.

• Last - shows the last price (1.60) and the size of the last trade (5).

• Change - Shows the price change for the day.

• Ask - shows best offer price (1.65) and the size of the offer (5355).

• Bid - shows the best bid price (1.55) and the size of the bid (6055).

• Exec. Reports: If all or part of your order has executed, a link to each execution report appears here. The current order has one execution, for 1 option. If part of the order is still working, the order status would be “Submitted.”

10. Select one of the following options from the menu. If necessary, scroll down to see the entire menu.

• Refresh to refresh market data

• If executed, select an execution report to view report details. These are displayed on the left side of the screen under Exec Reports.

• New ...Order to create a new order for the current contract.

• Other New Order to create a new order

• Main to return to the Main Menu.

For orders that have not yet executed, select from the following options:

• Modify to change the order parameters for the working order.

• Cancel to cancel a working order.