First, open a U.S. stock account.
Second, find the options chain or open an options account.
Third, locate the input field for the stock code in the options chain.
Fourth, enter the stock code to display all available options.
Fifth, look for the correct expiration date.
Sixth, find the correct strike price.
Seventh, determine whether the option is a Call or a Put.
Eighth, confirm your role: buyer or seller.
For example, to purchase a Call option for NVDA:
Buy: 【NVDA 240531C1210.0】 What does this code mean?
- Role as a buyer
- The stock is NVDA
- 240531 represents the expiration date of the option
- 1210.0 represents the strike price
- C indicates the option type is a Call, meaning a bullish option
We just need to enter the code, verify the above information, and complete the number of contracts to buy. Options are contracts; 1 contract is equivalent to 100 options.