The Option tab contains all of the fields needed to complete the basic Option Trade order entry process.

1. Select the Option Trade Entry icon from the REDIPlus Application bar, and the Option Trade Entry dialog box appears.

2. Select whether your order was Bought, Sold, Bought Covered, or Sold Short from the Side drop-down list box.

3. Type the symbol of the option’s underlying stock in the Symbol field.

• If you do not know the symbol of the underlying stock, click and perform a search for it. See the Symbol Search topic for more information about the Symbol Search functionality. Once you press [Enter], tab to the next field, or select a symbol using the Symbol Search, the data corresponding to the symbol you entered is displayed on the Quote bar (see the description of the Quote bar in the Interface Elements topic for more information).

4. Select whether your option order was a [Call] or [Put] in the Type field by clicking the corresponding button.

5. Select the Month that the option contract will expire from the drop-down list box. Values are in the following format: 1 Dec, 2 Jan, 2 Feb, etc. The number refers to the year (e.g., “1” = 2001, “2” = 2002).

6. Select the Strike price at which the option contract may be exercised from the drop-down list box.

• Once the fields up to and including the Strike field have been completed, the Option Trade Entry dialog box’s Title bar displays the Option order being entered. For example: IBM Dec 115.00 Call.

7. Enter the number of option contracts you traded in the Contracts field. The Contracts field provides you with three different ways to enter this value:

• Enter the value manually (i.e., key it in).

• Increase or decrease the value by clicking the to the right of the field.

• Use the drop-down calculator (click ).

8. Enter the premium paid per option contract in the Premium field. The Premium field provides you with three different ways to enter this value:

• Enter the value manually (i.e., key it in).

• Increase or decrease the value by clicking the to the right of the field.

• Use the drop-down calculator (click ).

9. Select which firm is to be used for clearing (Give Up) from the Firm drop-down list box.

10. Select the party with whom you conducted the trade from the Broker drop-down list box.

11. A default account number appears in the Account field based on the symbol you entered or the exchange you selected. You can select a different account number from the drop-down list box, if necessary.

12. When you have completed the Option tab, you can click [Submit] to capture your Option Trade entry. Optionally, you can attach a note (memo) to the Option Trade order on the Advanced tab.