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. 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.
  2. Insights

    Why The Prices Of Sports Tickets Vary So Much

    Prices of NBA, NHL, MLB and NFL tickets may vary for a number of reasons.
  3. Insights

    The Rise of Super Bowl Ticket Markets

    Buying a ticket for the Super Bowl is not easy, but technology is helping to make it easier.
  4. Investing

    What are Options Contracts?

    An explanation of options contracts, call options and put options.
  5. Tech

    Super Bowl Ticket Prices Set New Records

    This year's Super Bowl might turn out to be the most expensive ever.
  6. Investing

    Understanding Your Employee Stock Options

    To make the most of employee stock options it's key to understand their risks, tax consequences and how they fit into your financial plan.
  7. Trading

    Options trading volume and open interest

    Learn how trading volume and open interest can give you an edge when trading options.
  8. Trading

    Options Hazards That Can Bruise Your Portfolio

    Learn the top three risks and how they can affect you on either side of an options trade.
Trading Center