Options Chains

Option chains are a useful way to display the essential information on series of options for an underlying security (more on option chains.)

To find option chains for an underlying security, enter the following information on your options into the form:

1. Enter the underlying security’s ticker symbol into the symbol field.
2. Make a selection from the expiration date drop down list (if available).
3. Make a selection from the chain type drop down list.
4. Make a selection from the option range drop down list.
5. If you are interested in returning "non-standard options", check the appropriate checkbox.
6. Click the View button to submit the form.

If there are option chains for the symbol entered, you will be taken to the security's Options tab page. Those securities that do not have options will display an informational message.

Please note: Options involve risk and are not suitable for all investors. Before investing in options, please read the Characteristics and Risks of Standardized Options.

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Option chains are a useful way to display the essential information on series of options for an underlying security. To find option chains for an underlying security, enter information on your options into the option chain form.

The option chains title area includes the underlying symbol, the expiration month, the number of days to expiration, and a quote on the underlying security's last price.

Quote information provided for each option in the chain includes the following information. Depending on the view you use, only some may be displayed in your location:

• Symbol - the ticker symbol of the option
• Last - the last price of the option (delayed)
• Change - the amount of change in price since the previous trading day's closing price.
• Bid - the price the buyer would like to pay
• Volume - the number of contracts traded during that session
• Ask - the price the seller would like to sell at
• Open Interest - the number of outstanding contracts held in the market
• Strike - the price at which the underlying security may be bought or sold when the option holder exercises the option.
• Actions that can be taken from an option chain include:
• Symbol link - allows you to see more details on this option.
• Strike Price link - displays all options at that strike price for all months available.
• Stacked View - displays the options with calls on top and puts below.
• Straddle View - displays the option chains with calls and puts on either side of the strike price.
• Trade Link - takes you to a location to enter your options order.

In-the-Money: this indicator is used to identify those options with intrinsic value, i.e. the option has value in the marketplace. In general, a call option is in the money if the underlying security price is above the strike price; a put option is in the money if the underlying stock price is below the strike price (more on In-the-Money).

Please note: Options involve risk and are not suitable for all investors. Before investing in options, please read the Characteristics and Risks of Standardized Options.

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In-the-money is a phrase used to identify those options with intrinsic value, i.e. the option has value in the marketplace. In general, a call option is in the money if the underlying security price is above the strike price; a put option is in the money if the underlying stock price is below the strike price.

The in-the-money calculation method used within the option chains is basic. It simply compares the strike price of the option with the last price (delayed) of the underlying security.

Note: for non-standard options (also known as adjusted options) the In-the-Money calculation may or may not apply, depending upon the adjusted contract terms. It may be necessary to complete a more complex calculation that takes into account the adjusted underlying deliverables to determine whether these non-standard options are in-the-money.

Please note: Options involve risk and are not suitable for all investors. Before investing in options, please read the Characteristics and Risks of Standardized Options.

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Non-standard options are those options where the contract dictating the underlying deliverable has been adjusted to account for major changes to the underlying security, such as a merger, acquisition, spin-off, large dividend payment, or other reason.

Non-standard options have a different root symbol from the regular options, and will cause there to be more than one call or put option at each strike price within a given month.

Note that for non-standard options, the In-the-Money designation shown in the option chains, may or may not apply, depending upon the adjusted contract terms. It may be necessary to complete a more complex calculation that takes into account the adjusted underlying deliverables to determine whether these non-standard options are in-the-money.

Non-standard options are also called "adjusted options", "complex options", "options with an adjusted contract", "options with non-standard deliverables" or "options with complex deliverables".

Please note: Options involve risk and are not suitable for all investors. Before investing in options, please read the Characteristics and Risks of Standardized Options.

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