optionsXpress customers now have the ability to place option trades contingent upon an equity stock's price. By making an option order contingent, the trade is placed only if/when the market price for the security (stock) specified meets the criteria (greater than or less than a price entered).

Here's how to place a contingent order:

1. Go to Trade > Options. Select Contingent Order™ from the dropdown list. Click the Preview Order button.

2. Using the new order form that appears, enter the details of the contingent order.

3. Carefully review order details, and when you are ready, click Place Order >>

4. The trade confirmation screen verifies that we have received the correct information. From this screen, click on Check Order Status.

5. All current contingent option trades will be listed in the Order Status screen*.

* Please Note: Contingent orders are held in optionsXpress's system until your price target for the underlying security is reached; until then a contingent order is not an open order because it has not been submitted to the market, and it can remain in the Contingent Orders list indefinitely until you decide to cancel it. Once the triggered, the contingent order is automatically released and submitted to the market as a "true" open order to be filled.

If you have questions at any time, email us and we'll be happy to research your request.

Back to top