Series 4

The Options Market Place - Option Order Tickets

Prior to transmitting a customer’s option order, the representative must fill out the appropriate order ticket and present it to the trading department or wire room for execution. All order tickets will include:

  • Buy or Sell
  • Name of underlying security
  • Number of contracts
  • Type of option
  • Expiration date
  • Exercise price
  • An indication if transaction is opening or closing the contracts
  • If an opening sale, a notation regarding covered or uncovered is required
  • Account name and number
  • Account type, i.e. cash or margin
  • Price and time limits if any
  • Solicited or unsolicited
  • Discretionary authority exercised or discretionary authority not exercised, if applicable
  • Time stamp when entered, executed, changed, or canceled
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