What order types are available when placing options trades?
Depending on the type of options strategy you are trading (Covered Calls, Buy/Sell Options) you can choose between a market, limit, stop-loss or buy-stop order. These types of orders are explained below: Market Orders A market order is an order to buy or sell a security at the available market price. When placed during market hours (9:30am to 4:00pm ET), a market order will be processed immediately. Market orders placed during non-market hours will be entered when the market opens. Market orders are available for all Covered Call and Buy/Sell strategies. Note: There may be a short delay between the time your trade is completed and the time your positions are updated online. Limit Orders A limit order is a request to buy or sell a security once a customer-specified price has been reached or surpassed. Once the target price has been reached or surpassed, ShareBuilder will then process the trade. When entering a limit order you can specify whether the order is good for the day or until ca
Depending on the type of options strategy you select(Covered Calls, Buy/Sell Options) you can choose between a market, limit, or stop-loss order. We’ll look at these types of orders below: Market Orders A market order lets you buy a security at the best available price given the prevailing marketplace conditions. If you place a market order during non-market hours, we’ll enter your trade when the market opens on the next business day. Tip: You can create Market orders for every Covered Call and Buy/Sell strategy. Limit Orders • If you’d like to buy or sell a security at a specific price, you’ll want to enter a limit order. • A limit order triggers once it hits your predetermined price. • You can enter a limit order to expire at the end of the market day or keep it active for 60 calendar days (Good Until Canceled). • Limit orders are available for all Covered Call and Buy/Sell strategies. Tip: Sometimes, limit orders take more than one market day to fill. In these cases, it may lead to
