Types Of Option Orders

Simplified Version / Comprehensive Version

Types Of Option Orders - Buy To Open

To "Open a position through buying that option contract", which simply means to buy or go long on a certain option contract.

Types Of Option Orders - Sell To Close

To "Close a position through selling that option contract", which simply means to sell a certain option contract that you own.

Types Of Option Orders - Sell To Open

To "Open a position through selling that option contract", which simply means to short sell a particular option contract.

Types Of Option Orders - Buy To Close

To "Close a position through buying that option contract", which simply means to buy back an option contract which you have previously sold short.

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Types Of Option Orders - Market Orders

Telling the option trading broker to fill at the first available price on the market, regardless of how much that price is.

Types Of Option Orders - Limit Orders

Telling the broker that you want to buy the option at no higher than this price.

Types Of Option Orders - Good Till Cancelled (GTC) Orders

Order remains valid until cancelled manually.

Types Of Option Orders - Fill-Or-Kill (FOK)

Order that cancels if it is not filled entirely upon execution.

Types Of Option Orders - Immediate-Or-Cancel (IOC)

Order that allows for a position to be partially filled upon execution and then cancel the unfilled portion.

Types Of Option Orders - All-Or-None (AON)

Order that fills only if it is filled entirely.

Types Of Option Orders - Day Order

Order cancels automatically at the end of the day if not filled.

Types Of Option Orders - Market-On-Close (MOC) Orders

Executes the order at or near market close.

Types Of Option Orders - Limit Stop

Activates a limit order to close a position when a predetermined price is hit.

Types Of Option Orders - Market Stop

Activates a market order to close a position when a predetermined price is hit.

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