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. Personal Finance

    Surprising Way to Save on Two or More Airline Tickets

    A quirk in the reservations system can make you pay extra if you don't use this special technique for buying multiple tickets online.
  3. Financial Advisor

    The Best Strategies to Manage Your Stock Options

    We look at strategies to help manage taxes and the exercise of incentive and non-qualified stock options.
  4. 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.
  5. Trading

    Three Ways to Profit Using Put Options

    A brief overview of how to profit from using put options in your portfolio.
  6. Investing

    3 Reasons to Use ETF Options Over Futures (SPY, QQQ)

    Learn about exchange-traded fund (ETF) options and index futures, and why it might be a better decision to use ETF options instead of futures.
  7. 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.
  8. Managing Wealth

    Get The Most Out Of Employee Stock Options

    These plans can be lucrative for employees - if they know how to avoid unnecessary taxes.
Frequently Asked Questions
  1. What is the difference between yield and return?

    While both terms are often used to describe the performance of an investment, yield and return are not one and the same ...
  2. What are the Differences Among a Real Estate Agent, a broker and a Realtor?

    Learn how agents, realtors, and brokers are often considered the same, but in reality, these real estate positions have different ...
  3. What is the difference between amortization and depreciation?

    Because very few assets last forever, one of the main principles of accrual accounting requires that an asset's cost be proportionally ...
  4. Which is better, a fixed or variable rate loan?

    A variable interest rate loan is a loan in which the interest rate charged on the outstanding balance varies as market interest ...
Trading Center