Option Chain

Overview

NOTE: Not all users have permission to use this function.

Option Chain enables you to list all current call and put symbols for an individual equity security. Using this information, you can locate the call or put symbol you want, and then view its detailed quote or enter a trade. A detailed quote includes information about the security, including the expiration date of the option contract, strike price, last price, change in price, bid price, volume, and open interest.

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Understanding an Option Symbol

An Option Symbol can contain 22 characters and is expandable to 30 characters. The components of the Symbol are divided as follows:

Example of an Option Symbol: MSFT070730C30.125

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Displaying an Option Chain

  1. Select Markets & Research > Quotes & Fundamentals > Option Chain.
  2. If a symbol already is in context, its composite quote displays, along with a table containing its available option contracts.
    OR
    If there is no symbol in context and you already know the symbol for which you want to display the Option Chain, enter the market symbol in the Symbol Lookup field and then select the Go button.
    OR
    If there is no symbol in context and you do not know the symbol, select the Symbol Lookup link and look it up. When you locate the symbol, enter it in the Symbol Lookup field and then select the Go button.
  3. When the Option Chain for the selected security displays, the composite quote of the underlying security shows at the top of the screen and includes the underlying symbol, the last stock value, the change in value, the bid amount, the ask amount, the high amount, the low amount, the volume, the trade time, the EPS (earnings per share), and the P/E (price/earnings ratio). The available option contracts display in a table below the composite quote. NOTE: A warning message notifies you that large Option Chains may take a few moments to load. You can wait for the system to retrieve the information or you can refine your search.
  4. If you wish to work with the full list of puts and calls, proceed to Step #11.
    OR
    If you wish to refine the list of contracts that display, you can use the drop-down lists and fields at the top of the screen. Begin by specifying the contracts you wish to view. Select Show both, Calls only, or Puts only from the Calls/Puts drop-down list.
  5. Using the Expiration drop-down list, select Next 3 months, Next 6 months, Next 9 months, or All.
  6. To specify the minimum strike price, enter a value (up to three decimal places) in the Min Strike text field.
  7. To specify the maximum strike price, enter a value (up to three decimal places) in the Max Strike text field.
  8. To specify a minimum volume, enter a value (up to three decimal places) in the Min Volume text field. NOTE: This value does not include decimal places.
  9. To specify a minimum open interest, enter a value in the Min Open Int text field.
  10. When you finishing entering all search criteria, select the Filter button. The results matching your specifications display in the table. NOTE: Select a column heading to sort the contents in either ascending or descending order. A caret indicates the column and ordering used in the sort.
  11. If you wish to view a full quote for a listed contract, select the associated Call or Put link and then select Quote in the shortcut menu that displays. The quote displays in the Quote window.
  12. If you wish to enter a trade for a listed contract, select the associated Call or Put link and then select Trade in the shortcut menu that displays. If you are entitled to do so, the trade options screen displays.
  13. Select the Refresh link to update the contents of the table.
  14. If you want to display the Option Chain for another security, complete the Symbol Lookup field and then select the Go button.
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