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

Need Help Passing Your Series 4 Exam?



Cabinet Trade / Accommodation Trade

Related Articles
  1. Trading

    Exploring European Options

    The ability to exercise only on the expiration date is what sets these options apart.
  2. Insights

    StubHub's Top 4 Competitors

    StubHub operates the leading online marketplace for buyers and sellers of tickets, but it faces competition from four companies with strong value propositions.
  3. Trading

    Dividends, Interest Rates And Their Effect On Stock Options

    Learn how analyzing these variables are crucial to knowing when to exercise early.
  4. Trading

    Three Ways to Profit Using Put Options

    A brief overview of how to profit from using put options in your portfolio.
  5. Trading

    How To Avoid Closing Options Below Intrinsic Value

    To get the best return possible on your options trading, it is important to understand how options work and the markets in which they trade.
Frequently Asked Questions
  1. What are Common Examples of Monopolistic Markets?

    Discover what causes real instances of market monopoly, how it persists and where monopoly privilege is most common in the ...
  2. What is the gold standard?

    The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold, but ...
  3. What's the most expensive stock of all time?

    The most expensive publicly traded stock of all time is Warren Buffett’s Berkshire Hathaway.
  4. What is a "socially responsible" mutual fund?

    As the name suggests, socially responsible mutual funds invest exclusively in socially responsible investments.
Trading Center