Follow the steps below to login to your OptionsHouse Account:
- Go to: www.optionshouse.com
- Click on the "Secure Login" button in the top right hand corner of the page.
- Enter your username and your password in the space provided.
- Click the Login button.
- You are now logged in.
If you are having trouble:
- Make sure you are using the same username that you provided when you created your login information.
- Check to see you do not have "caps lock" on (sometimes indicated by a small light on the keyboard next to or on an icon of a padlock marked with a capital "A" in it.)
- Check to ensure you have entered the correct password (passwords are case sensitive.)
If you think you have forgotten your password, click "Forgot your password?" This will begin the process of creating a new password:
- Fill out the form fields.
- You will be provided the security question you selected when you created your Login.
- Provide the answer to your security question.
- You will be prompted to enter a new password and confirm this new password.
You will then be directed back to the login screen to re-enter your username and new password.
If you still have trouble logging in, please call Customer Service toll free at 1-877-653-2500.
You can reach a Customer Service Representative in one of three ways: through the Live Help feature, by calling 1-877-653-2500 or by e-mailing customerservice@optionshouse.com. Customer Service hours are 7 a.m. to 6 p.m. Central Standard Time, Monday through Friday, excluding exchange holidays.
At this time we are unable to accept foreign accounts.
In cash accounts, customer trades must be fully paid for on or before settlement date which is the day after the trade date for option transactions and three days after the trade date for stock trades. Investors with cash accounts cannot initiate or hold uncovered short positions. In a margin account, customers are allowed to borrow money to fund transactions. Margin accounts may also utilize acceptable collateral to finance requirements and debit balances. Margin accounts may also (if approved) hold complex positions including uncovered short positions. Margin should only be used by sophisticated investors who understand that losses can exceed their original investment.
There is no minimum account balance. The minimum account balance is not the same as the minimum initial funding size. The minimum initial funding size is $1,000 for a cash account and $2,000 for a margin account.
We offer the following accounts: Individual, Corporate, Roth IRAs, SEP IRAs, Traditional IRAs, Joint, UTMA, UGMA, Trusts, Partnerships, Investment Clubs, and Educational IRAs.
You may rollover your 401k account to an IRA account at OptionsHouse.
The available cash balance in your OptionsHouse account is currently swept nightly into the Scudder Money Market Portfolio. The interest rate on this fund fluctuates daily.
Check writing is available for all accounts. Check-writing privileges are free, as are the first 40 checks ordered. (Check re-order fees are $5.00 for every 100 checks).
In order to receive a debit card, you must have a minimum balance of $10,000 and cannot be considered a pattern day trader. There is also a $30 annual fee for debit cards.
Click here for additional information from PenFlex.
For your protection, OptionsHouse is a member of the Securities Investor Protection Corporation (SIPC), which protects its members' securities customers up to $500,000 (including $100,000 for cash claims). An explanatory brochure is available upon request or at www.sipc.org.
Additionally, our clearing firm holds excess SIPC Insurance ($200,000,000 in the aggregate), over all customer accounts, subject to a maximum limit of $900,000 per customer in respect to cash. This "excess SIPC" protection is in addition to the protection provided by the Securities and Investors Protection Act, which is administered by SIPC and is subject to certain conditions and limitations, details of which are available upon request.
Note that SIPC and excess SIPC provide coverage against loss of securities and cash, not against market depreciation, fluctuation in market value of your securities, or trading losses.
In an IRA account, if approved, you can BUY stock, calls, puts and option (debit) spreads. You may also SELL covered calls and cash-secured puts. Option (credit) spreads may be traded on cash-settled indices only.
To deposit a check into your account, please send a personal check from an authorized account holder's checking/savings account payable to OptionsHouse, LLC. Be sure to reference your OptionsHouse account number and phone number on the check.
Send the check to:
OptionsHouse, LLC
303 E. Wacker Drive
Suite 700
Chicago, IL 60601
The general clearing time for personal checks is three to five business days following the deposit date.
OptionsHouse does not accept third party checks, money orders, credit card checks, government checks, traveler's checks, starter checks, temporary checks, and home equity line of credit checks.
Yes. OptionsHouse will accept cashier's checks as long as the remitter's name is typed (not written) on the check.
You can request a check withdrawal through the OptionsHouse Trading Platform.
- Click on the "Transfer Funds" tab at the bottom of your OptionsHouse Account screen. (Note: IRAs and specialized accounts do not have this tab on their platform. Please call customer service toll free at 1-877-653-2500)
- Select "Check Request"
- Specify the Amount.
- Click "Next".
- Verify the information. If incorrect, click "Edit" and change. If correct, click "Submit."
Checks will be sent to the address associated with your account.
We require a minimum funding level of $1,000 to open a cash account and $2,000 to open a margin account.
You can fund your account in a number of ways including a personal or cashiers check, electronic transfer (ACH), wire transfer, or through an ACAT from an existing brokerage account.
If you have already established an ACH Relationship with your bank:
- Click on the "Transfer Funds" tab at the bottom of your OptionsHouse Account screen. (Note: IRAs and specialized accounts do not have this tab on their platform. You may also fund your account through check, wire transfer, or account transfer - ACAT - from an existing brokerage account. Please call customer service toll free at 1-877-653-2500 for additional assistance.)
- Select "ACH (Electronic Funds Transfer.)"
- Specify the amount and direction.
- Select an ACH Relationship.
- Click "Next".
- Verify the information. If incorrect, click "Edit" and change. If correct, click "Submit."
If you have not already established an ACH Relationship between OptionsHouse and your bank, then follow the steps below. (If you do not have an ACH relationship established you will see a message to this effect on your screen.)
- Click the Transfer Funds tab.
- Read the instructions and click "Establish ACH Relationship."
- Read the "ACH Terms and Conditions" and check the box, indicating that you agree. Click Submit.
- Provide the information requested, including Bank Name, ABA Routing Number, Account Number, Name on Account, and Account Type. Enter an amount and a direction you want to transfer and click "Next."
- Verify the information. If incorrect, click "Edit" and change. If correct, click "Submit."
- At this point, two micro-deposits will be sent to your bank account. It may take up to four business days, depending on your bank. Check your bank for the micro-deposits. When they appear, please note the amounts and return to the Transfer Funds tab.
- If the micro-deposits have been deposited to your account, you will see
"Needs Verification" on the main Transfer Funds screen. Click the "Needs
Verification" link.
- Enter the amount of the two micro-deposits on the screen in the order in which it was received and click submit.
- At this point you are finished with the ACH relationship setup. You can now transfer funds at your convenience.
- Please note that the micro-deposits will be reversed with two micro-withdrawals you will also see in your bank account.
Outgoing Wire Transfer
You can request a wire transfer through the OptionsHouse Trading Platform.
- Click on the "Transfer Funds" tab at the bottom of your OptionsHouse Account screen. (Note: IRAs and specialized accounts do not have this tab on their platform. Please call customer service toll free at 1-877-653-2500).
- Select "Wire Transfer"
- Specify the amount.
- Enter the bank or financial institution information including Bank Name, Bank ABA Routing number, Account Number, and the Name on the Account.
- Click "Next."
- Verify the information. If incorrect, click "Edit" and change. If correct, click "Submit."
Outgoing wire transfer requests received after 1:00 pm (CT) will be processed the next day.
Incoming Wire Transfer
Use the information below to arrange an incoming wire transfer with your bank or other financial institution. OptionsHouse does not accept incoming third party wire transfer requests.
Incoming wire transfers will be credited to your account the next business day after being received.
INCOMING WIRE INSTRUCTIONS (USD):
(If you use these instructions with a foreign currency, it will automatically be converted to USD)
- Address:
-
JP Morgan Chase
277 Park Ave
New York, New York 10172 - ABA
- 021000021
- Acct
- 066617936
- Beneficiary
- Penson Financial Services
- Final Beneficiary
- Customer Name
- Account #
- OptionsHouse Customer Acct Number
INCOMING WIRE INSTRUCTIONS (Other than USD):
- Bank
- JP Morgan Chase London
- SORT CODE
- 609242
SWIFT BIC CHASGB2L - IBAN
-
USD 6B59chas60924222075801
GBP 6B16chas60924222075802
EUR 6B86chas60924222075803
CAD 6B32chas60924222075804 - Beneficiary
- Penson Financial Services
- Acct
-
0022075801 for USD
0022075802 for Sterling
0022075803 for Euro
0022075804 for Canadian Dollar - Final Beneficiary
- Customer Name
- Account #
- OptionsHouse Customer Acct Number
OptionsHouse holds all checks and ACH deposits for three business days from the deposit date before the funds are released for trading purposes. For example, if funds are deposited on Monday, they would be available for trading on Thursday morning. Funds received via bank wire are available for trading the business day after they are received. Wire funds can be posted the same day if the funds are received and the client calls OptionsHouse Customer Service to request same day posting.
Funds deposited via bank wire can be withdrawn the next business day.
Funds received via ACH must be held for the deposit day plus 5 business days before they can be withdrawn. For example, funds deposited via ACH on Monday, August 1, can be withdrawn on Tuesday, August 9.
Funds received via check must be held for the deposit day plus 10 business days before they can be withdrawn. For example, funds deposited via check on Monday, August 1, can be withdrawn on Tuesday, August 16.
In order to transfer your account from another financial institution to OptionsHouse, you must complete an ACAT form and send it to OptionsHouse with a copy of your most recent statement. Account types must match in order to complete a transfer (i.e. Individual account to Individual account is an example of similar account types. An example of a change in account type is Joint Rights of Survivorship to Joint Tenants in Common). If your account types do not match, make sure to include a Change of Ownership form with your ACAT form and statement. Transfers normally take 5-10 business days to complete. You can download an ACAT form here and a Change of Ownership form here.
There are a few different options on how to transfer your account:
Transfer all assets in kind: this is a full transfer that will transfer all of your current positions and cash, as is.
Liquidate and transfer: this is a full transfer that will transfer your entire account by liquidating all of your current positions and transferring everything as cash.
Partial transfers: this allows you to pick specific positions you would like to transfer to OptionsHouse. Please be sure to indicate which positions you would like to transfer over. You may only move over whole shares. Fractional shares are not able to be transferred.
REMINDER: You may only choose one account transfer type. Your transfer will be rejected if you select more than one choice.
Your account balance is available in several places when you login to your OptionsHouse account:
The entry page once you have logged in is the "Account" tab. If you are not on the "Account" tab, click on the tab located in the upper left-hand corner of the screen.
The top section of the screen is called "Account Details." It displays your current Cash Balance, Option Buying Power (excluding commissions) and other account details.
You can also see your Account Value in the upper-right corner of the Account tab (In the area with the gray background).
In order to open an account with OptionsHouse, you must be of legal age in the state in which you reside. In addition, you will need to provide a valid e-mail address and all of the required information in the account application. You must also agree to the terms and conditions of the account. Also, before you open your account, you should take time to read and understand the Options Clearing Corporation's (OCC) "Characteristics and Risks of Standardized Options".
Creating an account with OptionsHouse is easy. Click "Open an Account" (a blue button in the upper right-hand corner of the screen). Follow the steps to create an account.
- Provide the required information (for example, name, address, and social security number) and answer certain questions regarding your employment and investment history.
- Select a funding method (for example, ACH, ACAT, personal check), or no funding, if you prefer to fund at a later date.
- Verify your information online.
- Print and sign the Account Application form.
- Fax, mail, or FedEx® the Account Application form back to OptionsHouse. On the final confirmation page, you can print a FedEx® label directly from our website for your convenience.
When you have completed the account sign up process you will be able to log in to your new account and experience the OptionsHouse Trading Tool. However, your account will not be active until it is approved and funded.
As soon as your account has been approved and funded you can trade.
-
Linking a new OptionsHouse account to your existing OptionsHouse Account: From our homepage, click on the "OPEN AN ACCOUNT" tab. Then choose the blue link "Are you already a customer? Log in to create an additional account." Log in using your existing username and password. Once the online application process is complete, your new account will be linked to your existing account(s).
OR:
-
Linking a new OptionsHouse account to a new or previously existing OptionsHouse account with a different primary owner: From our homepage, click on the "OPEN AN ACCOUNT" tab. Fill out the online application and create a new username and password. Once you complete the online application process, download, fill out and return a completed copy of: Online Access Account Linking Agreement and Limited Trading Authorization to link the accounts.
OR:
-
Linking two or more existing OptionsHouse Accounts: Complete an Individual Online Access Account Linking Agreement, or a Business Online Access Account Linking Agreement and Limited Trading Authorization (if a different primary owner). You may fax the completed form(s) to OptionsHouse Operations at 866-492-2478.
OptionsHouse takes your privacy seriously. Please read our Privacy Policy.
While we intend to in the future, we do not currently offer this functionality. We will notify you when we support this function. You can download your Positions, Orders and Activity information to Excel.
OptionsHouse charges $2.95 per stock trade (plus $0.01 per share if the stock price is $2.00 or less and the stock is not options eligible) and $9.95 per option, mutual fund, or Corporate / Treasury bond trade. For spread trades, click here to see an overview of our rates and fees.
A flat commission of $12.90 will be charged on trades that consist of a stock leg and a single option leg regardless of the size of the order. A flat commission of $14.95 will be charged on trades that consist of multiple option legs (up to 4 legs) regardless of the size of the order.
There are no commissions incurred for cancelling an order. As long as a modified order remains unfilled, no commissions will be charged to your account.
If an order is entered and partially filled, then subsequently modified, one ticket charge will be applied to the partial fill and another to the subsequent order. The ticket charge is applied per leg, per day. If a two-legged trade is entered, the total ticket charge is the appropriate commission per leg times two. If that order fills partially on one day and completes on another day, you will be charged the full amount for the partial on the first day and the full amount for the completion on the second day.
When you purchase or sell a stock or option, certain regulatory assessments and transaction fees are passed-through to you and appear on your confirmation slip. These regulatory assessments and transaction fees are charged by various regulatory agencies and securities exchanges based on the volume or the value of securities bought or sold.
The SEC currently assesses a regulatory transaction fee at a rate of $25.70 for every $1,000,000.00 in stock sales (rounded up to the next penny). For example, you sell $100,000 worth of stock. The fee would be your trade principal for those shares [$100,000] multiplied by 0.0000257, which equals $2.57.
FINRA levies a Trading Activity Fee (TAF) for stock sales that we pass through to you. The FINRA TAF for stock sales is currently 0.000075 per share to a maximum of $3.75. (For example, you sell 1,000 shares of stock. The fee would be the number of shares [1,000] multiplied by 0.000075 which equals 0.075 (rounded up to $0.08).
FINRA levies a Trading Activity Fee (TAF) for option sales that we pass through to you. The FINRA TAF for option sales is currently $0.002 per contract.. For example, you sell 100 contracts of options, the fee would be the number of contracts [100] multiplied by 0.002 which equals $0.20.
Any options transaction executed by a Chicago Board Option Exchange ("CBOE") member is assessed an Options Regulatory Fee (sometimes called the "ORF Fee") . The fee is currently $0.004 per contract bought or sold. For example, you buy 100 contracts of an option, the fee would be the number of contracts [100] multiplied by 0.004 which equals $0.40.
These fees are listed collectively on your official trade confirmation.
We also reserve the right to pass through certain other fees if we believe it is appropriate.
The OptionsHouse Trading Tool can be used on a Mac but only with Mozilla Firefox v2.0.0.2 or later. OptionsHouse is not compatible with Safari or Opera.
Internet Explorer v 7.0 and 8.0 and Mozilla Firefox v3.5.1.
While OptionsHouse is evaluating several other browsers for possible compatibility, we recommend customers use Firefox or IE for the best possible user experience.
Minimum Requirements:
Processor: |
1 Ghz or better |
RAM: |
512 MB |
Monitor: |
1024 x 768 monitor resolution or higher |
Operating System: |
PC: Microsoft Windows 98, XP, Microsoft Vista, or ME |
MAC: OSX with Firefox |
|
Browser: |
PC: Internet Explorer version 6.0 Service Pack (SP) 2 or higher |
PC or MAC: Mozilla Firefox version 2.0.0.2 or higher |
|
Broadband connection: |
(ISDN, Cable Modem, DSL, T1) |
Recommended Requirements:
Processor: |
2 Ghz or better |
RAM: |
2 GB or better |
Monitor: |
1280 x 1024 monitor resolution or higher |
Operating System: |
PC: Microsoft Windows XP SP2, Microsoft Vista SP1 |
OS X 10.5 with Firefox 3.0.7 or higher |
|
Browser: |
PC: Internet Explorer version 7.0 |
PC or MAC: Mozilla Firefox version 3.0.7 or higher |
-
I get an access denied message.
- Make sure you typed in your password correctly.
- After three unsuccessful login attempts, your account will be locked out.
- If the above does not pertain to you, please call Customer Service, Monday through Friday between 7 a.m. and 6 p.m. CT (except exchange holidays), 877-653-2500.
-
When I click on Secure Login on the homepage, nothing happens.
- If you are running Firefox, please make sure you do not have Firebug enabled.
- Make sure you do not have a pop-up blocker running.
- In Firefox, make sure your zoom is not on. You can reset it by going to View->Zoom->Reset or by pressing CTRL+0 on your keyboard.
- Make sure your screen resolution is set to at least 1024 x 768.
- Disable any web toolbars you are currently running, i.e. Google Toolbar, Yahoo! Toolbar, MSN Toolbar.
You can trade equities, options on equities, and a broad range of mutual funds on line. We can also accept orders by phone for U.S. treasury bonds and listed corporate bonds.
No, you cannot route orders to specific exchanges. All of your electronic orders are managed by our Smart Routing system. The Smart Router is used to scan all available exchanges to attempt to find the best possible fill in the least amount of time.
We can trade most pink sheets and Bulletin Board stocks along with non-option able stock online. If there is a symbol that you cannot trade online call the desk to add that symbol for online trading.
We do not allow trades to be placed through e-mail or Live Chat. Please call 1-877-653-2500, press 1, and you will be connected to a Trade Desk Representative who will assist you.
The following is required when placing a trade with our Trade Desk: Verification of your account, whether you want to buy or sell, quantity, underlying stock symbol, month and strike, calls or puts, price (market or limit, opening or closing), and order type.
You must first have available funds or margin in your account to place an order. The OptionsHouse trading platform allows you to place trades from almost every place on the site, including your positions, prior orders, the option chain, and through some of the idea generation and risk-management tools we offer. A full description of how to place an order in these areas can be found in the Quick Start section of the Trading Tool.
To place an order simply using the Order Ticket:
- Click on the Order Ticket tab. (The tab is located in the bottom-left corner of the Trading Tool screen.)
- Select the type of order you would like to place: Stock, Option, Mutual Fund or Spread.
- Fill out the Order Ticket.
-
For stock and single-option orders see steps a-e. For spread orders; go to step 5:
- Click the "Preview" button.
- Preview the order.
- If it is acceptable click the "Place Order" button.
- If you wish to revise your order, click the "Revise" button and continue with step 3 above.
- If you wish to cancel your order, click the "Cancel" button.
-
For spread orders, fill out the Order Ticket for as many legs as you wish
to trade (up to four legs). Make sure you indicate whether you want to
"Buy" or "Sell" by selecting the appropriate order for each option leg
listed in the Order Ticket.
- Click the "Preview" button to review the order in the Order Summary at the bottom of the ticket.
- If the order is acceptable, click the "Place Order" button.
- If you wish to revise your order, make the changes in the Order Ticket, and continue with step 5a.
- Click on the "Options" Tab (at the top of the Trading Tool) to get to the chain view. (The chain view is a list of all options available for a particular symbol.) Make sure that the appropriate company is showing in the Option Chain. If not, enter the appropriate ticker symbol in the Quote Lookup box. From the Option Chain, click on the bid or ask price of the option or stock that you wish to trade.
- A menu will appear on the screen. Select the appropriate "trading action" from the pop-up menu.
- If you select a trading action from the chain, several of the fields will be pre-filled on the Order Ticket. Make sure these match your intentions and that the correct quantity is entered, and then verify that the price, duration and expiration date are correct.
- Click the "Preview" button.
-
Preview the order.
- Review the Order Description on the top left-side of the Order Ticket, to make sure your order is as you expect.
- If it is acceptable click the "Place Order" button.
- If you wish to revise your order, click the "Revise" button and continue with step 3 above.
- If you wish to cancel your order, click the "Cancel" button.
If you need assistance, please call Customer Service toll free at 1-877-653-2500.
As soon as an order is placed, it is entered into your Orders window in the Account tab. A Good-'Til-Cancelled order (GTC) may be filled immediately or may take several days or longer to fill, if at all. To check the status of an order:
- Click on the "Account" tab in the top-left corner of the Trading Tool.
- Find the Orders section of the page, at the bottom of the screen.
- The column of the Orders section, entitled "Status" indicates the order status.
If you have any questions about your account, please contact Customer Service using Live Chat or toll free at 877-653-2500.
The bulk of our orders are placed on an exchange within seconds because we use an electronic trading platform. In some cases, such as with complicated orders, we may have to provide open call service which is slower than electronic trading.
In addition, system response and access times can vary due to numerous factors. Please read our User Agreement to make sure you understand the risks involved in electronic trading.
Quotes refresh and show the then current price every five seconds unless you choose a slower refresh rate. Certain trading information may only update if you click the refresh button in the Trading Tool.
OptionsHouse charges the same rate for on-line or broker-placed trades: $2.95 per stock trade (plus $0.01 per share if stock price $2.00 or less) and $9.95 per option, mutual fund, or Corporate / Treasury bond trade. For spread trades, click here to see an overview of our rates and fees.
A "Day Trade" is a single option or security position that opens and closes during the same day. The purchase or sale of a security held overnight does not constitute a "Day Trade."
A sell to close (buy-in) of an existing position will be treated as a liquidation and the subsequent repurchase (sale) will be treated as the establishment of a new position. These trades will not be subject to the rules affecting Day Trades. Any other trades in the overnight position will be considered a Day Trade and subject to Day Trading rules.
An account is considered a Pattern Day Trading Account if it has more than three Day Trades in five business days. Industry regulations require that pattern Day Traders must maintain a minimum of $25,000 of margin equity. Accounts that have less than $25,000 of margin equity will be issued zero Day Trading Buying Power (DTBP) on the date the call is issued. In other words, if the account ends the session with equity of less than $25,000, it will have zero day trading buying power the following day. There will be no changes to Overnight Buying Power (ONBP).
Buying power for Pattern Day Traders is limited to two (2) times their margin maintenance excess for equities and one time for options. Cross guarantees among accounts are prohibited. Day Trading Calls are incurred when an account holder exceeds his or her Day Trading Buying Power at any point during a trading session.NBP).
Whether trades you make constitute Day Trades or a series of trades classifies you as a Pattern Day Trader, these trades may impact certain aspects of your available margin and buying power.
OptionsHouse offers the following advanced price types, on stock or single-leg option orders:
- Limit on Close (LOC):
- An order that will execute at the market close if the closing price is at or better than the submitted limit price.
- Limit on Open (LOO):
- An order that will execute at the market open if the opening price is at or better than the submitted limit price.
- Market on Close (MOC):
- A market order that will execute at the market close.
- Market on Open (MOO):
- A market order that will execute at the market open.
Yes. When the AON checkbox is selected on an order ticket the order will either fill in its entirety or not at all.
The Advanced Order Ticket enables you to place parameters on an order so it can be sent to the market when the time or condition is right for you. For example, if you are unable to monitor the markets but want to place an order when a security reaches a specific price, you need only set up an Advanced Order. OptionsHouse can execute the following Advanced Order types:
- Trigger:
- A Trigger specifies certain conditions necessary for an order to be entered.
- Trailing Stop:
- A Trailing Stop order is a stop order that adjusts as the price of a security moves. The stop price is placed at a set distance above or below the current price. The stop price then adjusts in the selected direction as the price of the security moves.
A Trigger specifies certain conditions necessary for an order to be entered. OptionsHouse provides an Advanced Order ticket to enable this type of order. A Trigger can be set on a security price (Bid, Ask, or Last) or as a specific time on a specific day.
Basic Trigger - stock trigger for an option order
Assume you want to place an option order based on the price of an underlying
security.
- Example:
- If XYZ trades at a price greater than $150.00, then Buy 10 XYZ June08 160 Calls @ $2.00.
- Utilization:
- You have a precondition that must be met before entry of the desired order. Additionally, you want the triggering event to be monitored via the OptionsHouse Trading Platform.
- Order Ticket:
- Enter an order to Buy 10 XYZ June08 160 Calls @ $2.00 with a Trigger on XYZ Last Price Greater Than $150.00.
A Trailing Stop order is a stop order that adjusts as the price of a security moves. The stop price is placed at a set distance above or below the current price. The stop price then adjusts in the selected direction as the price of the security moves. OptionsHouse provides an Advanced Order ticket to enable this type of order.
Basic Trailing Stop - stock
You have a Long position of
+200 shares in Stock ABC, and you want to enter an order to close your position
that will limit downside exposure while benefitting from any additional upside
movement.
- Example:
- The current market for ABC is $20.00 - $20.03 with last trade @$20.00. If ABC stock trades at a price 10% lower than the highest price traded subsequent to order entry, then enter an order to sell 200 shares at market.
- Utilization:
- You have an established position for which you want to limit negative P/L exposure while benefiting from any additional upside movement in the stock. Additionally, you do not want to constantly reset the stop level.
- Order Ticket:
- Sell 200 ABC on a 10% Trailing Stop
There is no disseminated spread market that provides a benchmark price (such as the national best bid or offer [NBBO] for individual option series) for spread orders. Therefore, liquidity providers cannot be held to a net price on a spread order and you may not receive the NBBO on each individual leg of a spread.
Spread trades are executed as a single trade and are not legged or paired as individual trades. When trading spreads, option prices on cross-markets may be misleading because the legs of the spread cannot be executed on different exchanges to get the NBBO for each leg. Both legs of the spread must be executed on the same exchange. Spread trades are executed as a single trade and are not legged or paired as individual trades. When trading spreads, option prices on cross-markets may be misleading because the legs of the spread cannot be executed on different exchanges to get the NBBO for each leg. Both legs of the spread must be executed on the same exchange.
Spread trades are executed at the discretion of the specialists or market makers responsible for executing your orders on the exchanges. When a spread order is cancelled or filled, the specialist or market maker may be required to take manual action that may require additional reporting. Such delays in reporting fills and cancels create risks, especially in fast-moving markets. Any trade executed via the OptionsHouse spread ticket will be sent to the exchange as a spread trade and will be subject to the risks outlined above.
Yes, OptionsHouse currently offers networked, no-load mutual funds ("networked" indicates Penson Financial Services, Inc. has a selling agreement with the fund family).
Please call OptionsHouse Customer Service at 877.653.2500 to obtain additional information regarding specific fund families offered.
Yes, you can short stock at OH. Please be aware that there can be significant costs to borrowing stock. These costs can come in the form of interest on the borrowed shares, as well as hard-to-borrow fees. Any other fees associated with shorting stock will also be passed on to the customer.
When a stock is Hard to Borrow (HTB), our clearing firm must utilize a third party to acquire the shares, because the stock is no longer in its inventory to lend (or is in short supply). The clearing firm is charged additional fees to acquire the stock; these fees are passed on to the customer. The fees vary based upon the market rate to borrow that specific security. All fees are passed through to the client on a daily basis.
Almost any mobile device with a web browser can be used to access the OptionsHouse mobile trading platform, but with the number and variety of devices around the world, your experience may vary depending on which one you use. The following mobile devices have been exhaustively tested and are fully supported by OptionsHouse:
- G1 (Google Android operating system)
- iPhone
- Palm Pre
- BlackBerry 8900 Curve
- BlackBerry 9000 Bold
- BlackBerry 9500 Storm
- BlackBerry 9630 Tour
You should enable JavaScript support, HTML tables and style sheets for the best view of OptionsHouse's mobile platform. Please see your owner's manual for instructions.
OptionsHouse does not charge fees to use the mobile site. Your mobile service provider may charge fees for accessing the internet from your mobile device.
OptionsHouse mobile site was developed as a website, therefore you will not need to download any software. All you need is internet access.
You must agree to the exchange agreements before you can use the OptionsHouse mobile site. To agree, log into OptionsHouse from your computer at least one time before you access the mobile site.
You can trade stocks, options, and ETFs.
You cannot place or modify advanced orders at this time. However, you can cancel advanced orders.
Market, limit, stop, and stop limit orders can be placed on stocks, options and ETFS. Advanced orders (such as triggers and trailing stops) and spreads are not available on the mobile site at this time.
Currently, trades on the mobile platform are limited to market hours only. However, OptionsHouse offers both pre-market and after-market trading. The hours are 1 hour prior to market open (7:30-8:30am Central) and 1 hour after the market closes (3:00-4:00pm Central). Currently these trades can only be placed by calling our Trade Desk during those hours at 877-653-2500 option #1.
The mobile site shows any and all orders you have placed throughout the life of your account.
If you find that you are having trouble logging in, please call customer service at 877-653-2500.
You will have to call customer service at 877-653-2500 to unlock your account.
You have access to detailed balance information and positions, as well as the status of orders. In addition, you can view your watchlists.
The site has a security mechanism in place that will automatically log you out of the account if left idle for 30 minutes. Simply log back in to your account to resume using the site.
The following features are available:
- Detailed Balances
- Positions
- Order Status Trading
- Stock Quotes and Research (charts, options, fundamentals, financials)
- Symbol Look-up
- Watchlists
You can view historical information about your orders. At this time statements, confirms, and transaction history is not available on OptionsHouse Mobile. You can view historical information about your account by logging into the trading platform at www. optionshouse.com.
OptionsHouse monitors a client's risk using a variety of tools. One tool that we share with our clients is the "Risk Viewer." which can be found on the trading platform on the "Tools" tab.
Using the "Market Risk" tab within the Risk Viewer, OptionsHouse evaluates "Slide Risk" on an individual symbol and total portfolio basis. Slide risk refers to the theoretical risk to a position, given a specified percentage change to the underlying symbol.
For example, if you are long a $100 stock, we would evaluate the potential profit and loss to your account based upon that stock price changing $5.00, $10.00, $20.00 and $50.00 (in either direction).
OptionsHouse classifies client accounts as either "Diversified" or "Concentrated." A Concentrated account is one that holds positions in less than six unique symbols. A Diversified account can hold either six or more unique symbols or positions in broad-based indices (or ETFs based on those indices).
For Concentrated Portfolios:
For portfolios with equity, equity option, narrow-based index, and narrow-based index option positions, we look at your slide risk down to -50% and slide risk on the upside to +20% as measured on the "Market Risk" tab of the "Risk Viewer" tool. A Risk Violation will occur if your account has slide risk greater than 100% of your Account Value. You may then be required to take action (such as reducing your positions or depositing funds).
For a portfolio with broad-based index and/or broad-based index option positions (e.g. SPX, SPY, RUT, OEX, QQQQ, DIA and other similar indices), we look at your slide risk down to -50% and slide risk on the upside to +20% as measured on the "Market Risk" tab of the "Risk Viewer" tool. A Risk Violation will occur if your account has slide risk greater than 200% of your Account Value. You may then be required to take action (such as reducing your positions or depositing funds).
For Diversified Portfolios:
OptionsHouse will look at your overall portfolios slide risk down to -50% and slide risk on the upside to +20% as measured on the "Market Risk" tab of the "Risk Viewer" tool. A Risk Violation will occur if your account has slide risk greater than 200% of your Account Value. You may then be required to take action (such as reducing your positions or depositing funds).
Finally, a Risk Violation will occur if your account has slide risk greater than 100% of your account value on any one symbol at any slide level down to -50% and any slide risk on the upside to +20%. You may then be required to take action (such as reducing your positions or depositing funds).