Clients approved for the appropriate options trading level can trade options strategies comprising up to four legs as one order
Multi-leg options
If you already have an account
do traders use
Multi-leg options allow you to trade up to 4 option legs simultaneously
· Create a strategy that fits your risk profile
· Define your max loss and margin requirements
· Execute simultaneously to reduce execution risk
To Learn more about multi-leg options
· Create a strategy that fits your risk profile
· Define your max loss and margin requirements
· Execute simultaneously to reduce execution risk
To Learn more about multi-leg options
Multi-leg options?
Multi-leg options orders
With multi-leg options orders, you can simultaneously buy and sell options, potentially reducing the market risk from executing single legs, allowing you to specify the net price.
As you adjust your strategy, the line chart updates with streaming data to show the max gain, loss and breakeven points.
This can help you understand the risk/reward available and adjust your strategy accordingly.
This can help you understand the risk/reward available and adjust your strategy accordingly.
Gain/Loss Calculator
The Position Views allow you to monitor data at the strategy, underlying group or individual contract level.
Data includes greeks, margin requirements, and more.
This lets you review your overall exposure and allows you to make the adjustments you may want to make.
Data includes greeks, margin requirements, and more.
This lets you review your overall exposure and allows you to make the adjustments you may want to make.
Position Views
The Position Management feature simplifies your trading workflow:
- Checkboxes guide your position selection
- Close - exit positions
- Roll - close positions and open new ones
- Add to - increase allocation to strategy
Position Management
Strategy templates
Templates help you load the most common strategies.
The ticket helps you further customize the strategy to your goals, including the ability to add or remove legs.
Strategies are shown with quotes for each leg, and an overall estimated strategy quote.
Download 'Intro to Multi-leg options' eBook that presents more information on strategies and associated risks, including examples.
The ticket helps you further customize the strategy to your goals, including the ability to add or remove legs.
Strategies are shown with quotes for each leg, and an overall estimated strategy quote.
Download 'Intro to Multi-leg options' eBook that presents more information on strategies and associated risks, including examples.
1
Click on Option Chain
Select New Order
2
Choose a Strategy from drop-down
3
Customize order and legs
4
When you’re ready, select Review Order
5
Place a trade by choosing Send Order
6
Apply for Multi-leg options
If you already have an account
F.A.Q.
The online cost to trade options is $0.50 per contract.
Yes, you will need to update your account with an options agreement. Please submit the Option Account Agreement via document upload or scan and email it to newaccounts@scorepriority.com.
To exercise an option, please submit a request from your email address on file to tradedesk@scorepriority.com. The email must include your account number, name, number of contracts to be exercised, and the option symbol to be exercised. Funds to cover the cost of exercise must be in the account prior to submitting the request, or the request will be rejected due to insufficient funds
Requests to exercise options can be submitted at any point before 3:00 PM EST on the last trading day prior to the date of expiration. Please note that for a request to be processed the same day, it must be received via email prior to 3:00 PM EST. Please submit the request to tradedesk@scorepriority.com.
You can view your exercised options on your monthly statement and on your Score Priority trading account. To view your statements online, click on the “Reports” button located inside of the Cabinet. To view the exercise transaction, select a two-day time range after the day that you submitted the assigned request.
There is a $20 fee per exercise or assignment. This fee is charged on a per option symbol basis.
Given the option contract, options held short can be assigned at any time. Options are generally automatically exercised if in the money at expiration, but may not always be exercised. Long option holders can request to not exercise contracts.
There is a $20 fee per exercise or assignment. This fee is charged on a per option symbol basis.
You can view whether your options are assigned on your monthly statement and on your Score Priority online trading account. To view your statements online, click on the “Reports” button located inside of the client portal My Account. To view the assigned transaction, select a two-day time range after the day that you submitted the assigned request.
You may place a buy or sell order for limit orders. You may only place a sell order for market orders. Market orders are not supported for opening transactions of OTC securities.
Score Priority offers clients with cash and IRA accounts the ability to purchase calls and puts and write covered calls (if approved). Qualified margin accounts have the ability to write uncovered calls and puts (if approved). Qualified margin accounts must have a minimum of $25,000 in equity to write uncovered puts and a minimum of $100,000 in equity to write uncovered calls. Complex option strategies, including spreads and straddles, will be added in the coming months.
No, options cannot be borrowed against at Score Priority.
At this time, cash-covered puts are not available.
Yes. streaming option quotes are available on the Score Priority platforms.
Yes, these are available in the Score Priority Trading Platform.
IRA accounts are eligible to be authorized for Options Level 1 & 2, allowing you to purchase calls and puts and write covered call options. Uncovered option trading is not permitted for IRA accounts. In order to update your account for options trading, please submit the Option Account Agreement via document upload or scan and email it to newaccounts@scorepriority.com
GTC orders remain active for 90 days or until canceled or executed. GTC orders cannot be canceled after hours; GTC orders may only be canceled during market hours.
support@lime.co
One Penn Plaza, 16th Floor New York, NY 10119
+1 855 274-4934 (toll free)
+1 646 558-3232 (domestic)
One Penn Plaza, 16th Floor New York, NY 10119
+1 855 274-4934 (toll free)
+1 646 558-3232 (domestic)
Contacts
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Disclaimer
© 2022 Securities are offered by Lime Trading Corp., member FINRA & SIPC, NFA, Lime Advisory Corp is an investment adviser registered with the SEC. and Lime FinTech is a technology business. Collectively known as “Lime Financial” or “Lime” provide various trading, investment advisory services, and technology solutions including web and mobile trading applications, to retail and institutional investors. All investing incurs risk, including but not limited to loss of principal. Further information may be found on our Disclosures Page.
Please read the following documents Characteristics and Risks of Standardized Options before trading options.
Options involve risk and are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Options trading privileges are subject to Lime Financial Corp. review and approval. Hedging and protective strategies generally involve additional costs and do not assure a profit or guarantee against loss. With long options, investors may lose 100% of funds invested. Covered calls provide income, downside protection only to the extent of the premium received, and limit upside potential to the strike price plus premium received. Multi-leg option orders are not a standard option trade. There is no national best bid or offer for multi-leg orders. Multi-leg trades are executed on the exchanges at the discretion of specialists or market makers, who cannot be held to a net price on a multi-leg order. Therefore, you may not receive the national best bid or offer on each individual leg of an order. Multi-leg orders are executed as a single trade on the same exchange. Legs cannot be executed separately on different exchanges to get the national best bid or offer for each leg. Each individual leg of a multi-leg order can be subject to early exercise risk, possibly taking away the protection that the multi-leg position may provide. Partial or full assignment on a leg may originate a margin call or losses greater than you anticipated when you entered into the position. When a multi-leg order is canceled or filled, additional reporting may be required by the specialist or market maker. Reporting fills and cancels may cause delays and create risks, especially in fast moving markets. Other risks might be associated with multi-leg options trading.
© 2022 Securities are offered by Lime Trading Corp., member FINRA & SIPC, NFA, Lime Advisory Corp is an investment adviser registered with the SEC. and Lime FinTech is a technology business. Collectively known as “Lime Financial” or “Lime” provide various trading, investment advisory services, and technology solutions including web and mobile trading applications, to retail and institutional investors. All investing incurs risk, including but not limited to loss of principal. Further information may be found on our Disclosures Page.
Please read the following documents Characteristics and Risks of Standardized Options before trading options.
Options involve risk and are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Options trading privileges are subject to Lime Financial Corp. review and approval. Hedging and protective strategies generally involve additional costs and do not assure a profit or guarantee against loss. With long options, investors may lose 100% of funds invested. Covered calls provide income, downside protection only to the extent of the premium received, and limit upside potential to the strike price plus premium received. Multi-leg option orders are not a standard option trade. There is no national best bid or offer for multi-leg orders. Multi-leg trades are executed on the exchanges at the discretion of specialists or market makers, who cannot be held to a net price on a multi-leg order. Therefore, you may not receive the national best bid or offer on each individual leg of an order. Multi-leg orders are executed as a single trade on the same exchange. Legs cannot be executed separately on different exchanges to get the national best bid or offer for each leg. Each individual leg of a multi-leg order can be subject to early exercise risk, possibly taking away the protection that the multi-leg position may provide. Partial or full assignment on a leg may originate a margin call or losses greater than you anticipated when you entered into the position. When a multi-leg order is canceled or filled, additional reporting may be required by the specialist or market maker. Reporting fills and cancels may cause delays and create risks, especially in fast moving markets. Other risks might be associated with multi-leg options trading.
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