Contains the default order entry functionality of the Option Series Monitor.
The following fields and buttons default as part of the Order bar; see the Processing Orders through the Option Series Monitor topic for more information.
[Buy] - click to submit a Buy order.
Strategy - select from the following strategies: Box Option, Butterfly, Calendar, Single, Straddle, Strangle, and Vertical, and the Order bar changes dynamically based on your selection. If you select a strategy other than Single, the Order bar is replaced by the Spread bar; see the Additional Option Series Monitor Component and To process an Option Spread order topics for more information.
The Strategy field does not appear unless you are entitled for Option Spread order entry.
Option Position - indicates whether your order will Close an existing position or Open a new one. Select Auto and REDIPlus will read the Position Monitor to determine the value.
Equity Position - indicates whether your order is Cvrd (covered) or Uncvr (uncovered) by a position in the underlying equity (i.e., whether you already own the equity).
Exchange - lists the exchanges available to you for options trading. Select Default to route your order to the appropriate options exchange.
Time In Force - the time period that your order will be active.
Account - the account associated with your order; it must be an account that has option trading privileges.
[Sell] - click to submit a Sell order.
Symbol - the underlying symbol of the option root to be viewed/ordered.
Quantity - the number of option contracts you want to trade.
Option Type - indicates whether your order is a Call or Put.
Month - the month that the option contract will expire. Values are in the following format: 4 Dec,5 Jan, 5 Feb, etc. The number refers to the year (e.g., “2” = 2002, “5” = 2005).
Strike Price - the price at which the option contract may be exercised.
Price - the price of the option contract(s).
Price Type - the type of transaction (e.g., Limit, Market, Market Close, Stop, etc.).