OptionsHouse » Trading

What can I trade through OptionsHouse?

Jeff Korba — Tue, 08 Jan 2013 22:32:21 +0000

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.

Can I route orders to a specific exchange?

Jeff Korba — Tue, 08 Jan 2013 22:32:08 +0000

OptionsHouse allows you to pick which exchange you’d like to get filled by for your option trades. You can access this option from the order ticket of an option trade via the Exchange drop down:

You can also bring up the exchange lookup from the action menu in the option chain:

Clicking on Exchange Lookup takes you to the exchange lookup window. From there you can choose to buy or sell the option from that particular exchange:

That will take you to an order ticket with the exchange you’ve specified in the exchange drop down.

NOTE: You cannot choose an exchange for stock orders.

What information should I give your Trade Desk when placing an order?

Jeff Korba — Tue, 08 Jan 2013 22:31:51 +0000

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, and order type (market or limit, opening or closing).

Does OptionsHouse have streaming quotes?

Jeff Korba — Tue, 08 Jan 2013 22:31:33 +0000

Quotes refresh and show the then-current price every second unless you choose a slower refresh rate.

The Streaming Charts and News tool is intended to provide informational and educational information only. The information provided by Streaming Charts and News does not constitute a recommendation and should not be acted on as such. You are solely responsible for all trading decisions.

What is the commission for a broker-placed trade?

Jeff Korba — Tue, 08 Jan 2013 22:31:12 +0000

OptionsHouse charges the same rate for on-line or broker-placed trades, click here to see an overview of our rates and fees.

Does OptionsHouse offer All-or-None (AON) designation on orders?

Jeff Korba — Tue, 08 Jan 2013 22:30:28 +0000

Yes. When the AON checkbox is selected on an order ticket the order will either fill in its entirety or not at all.

Does OptionsHouse offer mutual funds?

Jeff Korba — Tue, 08 Jan 2013 22:30:16 +0000

Yes, OptionsHouse currently offers networked, no-load mutual funds (“networked” indicates Apex Clearing Corporation has a selling agreement with the fund family).

What fund families are offered through OptionsHouse?

Jeff Korba — Tue, 08 Jan 2013 22:30:03 +0000

Please call OptionsHouse Customer Service at 877.653.2500 to obtain additional information regarding specific fund families offered.

What does it mean when a stock is hard to borrow?

Jeff Korba — Tue, 08 Jan 2013 22:29:52 +0000

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.

Can I short stock at OptionsHouse?

Jeff Korba — Tue, 08 Jan 2013 22:29:41 +0000

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.