Creating an option order

Note: to place a mutual fund order, log in to myQuestrade.

To create an options order:

  1. In the toolbar, click Order entry

  2. Enter the order details for the option order you want to create. 

Order details  Description 
Click  and change the mode to . The default expiration date, strike price, and strategy appear.Type the symbol or company name you want to buy or sell. Then press Enter. For detailed quote information, in the main toolbar, click .
Expiry  Select an expiry date. 
Strike  Select a strike price. 
Type  Select the type of option, call or put.  
Qty  Enter the quantity of shares you want to trade.

Note: 1 standard option contract = 100 shares; 1 mini-option contract = 10 shares. Mini-option contracts are available for the following securities: SPY, AAPL, GOOG, AMZN, and GLD. 
Order type  Select the type of order you want to submit. To learn more, see Order types.  
Limit price  Enter your limit price:
  • To have the price fluctuate according to real-time data, click the lock   and select either Follow ask price   or Follow bid price .
  • To choose a custom price, select Do not follow .
Note: if real-time market data is not available, the limit price will be blank and the float limit icon will be unlocked.

To learn more, see Order types.
Trailing  This field only applies if you’ve selected the trailing stop, or trailing-stop limit order types. For trailing stop orders, you have the option of entering a percentage by clicking  the dollar sign . To learn more, see Order types.

Stop price  This field only applies if you've selected the stop or stop-limit order types. To learn more, see Order types.

Limit offset  This field only applies if you've selected the trailing-stop limit order type. To learn more, see Order types.

Duration  Select a duration to specify how long the order should remain active. For more information, see Order durations.
Date  This field only applies if you’ve selected the GTD (Good ‘till date) order duration. For more information, see Order durations.

Route  Select a route or leave the selection at Auto to let the platform determine the best one. Canadian routes will be listed for Canadian symbols and U.S. routes will be listed for U.S. symbols.
This field will be filtered according to the route selection. It indicated where you prefer the order to be executed. Leave the selection at Auto to let the platform determine the best route.

Note: sub-route selection is only available for Canadian symbols.
Account  Specify the account you want to use to submit the order.
Special instructions  You have the option of selecting AON and ANON, and entering quantities for Iceberg and Min Qty. To learn more see Special instructions.

  1. Click Buy or Sell.
  2. Depending on your order entry preferences, an order confirmation window appears. Review your order, and click Send order to send your order to the exchange.

Once the order is filled, fails, or is rejected, a pop-up message will appear in the bottom right corner of the application to instantly notify you of the order’s status. An order filled message will fade and close automatically.
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