You can choose to buy open or sell short to establish new positions in an option; if you already have a long or short position in an option, you can also close the position through sell and buy operations.

2. What are the supported order types for options?

U.S. equity options trading supports Limit Order, Market Order, Stop Limit Order, Stop Order, Limit if

Touched Order, Market if Touched Order, Trailing Stop Limit Order, Trailing Stop Order.

3. What's the trading unit for options?

Options are traded in units of contracts. Typically, One contract unit is equal to 100 shares (corporate actions may result in 1 option not being equal to 100 shares).

For example, in the case of option contract AAPL 170314 140.00C, its quoted price is $2, meaning the price (premium) of this contract is $2 * 100 = $200. Upon exercise, you will receive 100 shares of AAPL.

4. What are the trading hours for options?

Trading hours for the options are 9:30-16:00 ET.

Note:

Options do not support pre- and post-market trading, but some ETF and ETN options are late close exceptions and will trade until 16:15 ET.

If you place an order during non-trading hours, the orders will be kept in the FUTU trading system until the market open. The order will be submitted to exchanges by the sequence of placement, please be patient during the waiting time. For more details, please check What is off market orders.

5. Why option orders with a better price than the last traded price are sometimes not filled?

When trading U.S. stock options, you may sometimes observe that some orders are filled at worse prices but your own order placed at a better price is not filled. This may be caused by the following reasons.

1. The liquidity of the options market is normal. However, due to the special quotation rules of the U.S. market (BBO / NBBO), the bid and ask you see are the highest bid and lowest offer price of a particular exchange. Some orders may be routed to other exchanges for transactions.

In addition, when the market is inactive, it is possible for quotes from different exchanges to vary widely but not be updated timely, which may result in orders not being filled.

2. Since there are Spread Orders in the market, an individual buy/sell order may not be filled.

For example, some brokerage firms allow customers to make a spread order by placing a long call order and a short call order. Both orders will be filled at the same time only if the prices of both orders match the ask and bid.

To take a specific example, an option on BABA has a bid price of $3.00 and the order is part of a spread order matched on the exchange. A $2.80 sell order submitted at this time may not be filled at 3.00.

All of the above descriptions are normal for the U.S. market. The options orders have been submitted and the outcome depends on the exchange.

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Overview

1. How to trade options?
2. What are the supported order types for options?
3. What's the trading unit for options?
4. What are the trading hours for options?
5.Why option orders with a better price than the last traded price are sometimes not filled?

Discussing

關稅風暴暫離高壓區！市場能否迎來反彈？

當地時間4月22日，美國總統特朗普公開承認美國目前對中國出口商品的關稅過高，預計稅率將大幅降低；美國財政部長貝森特也表示中美雙方關稅戰將很快降溫。4月25日，特朗普表示將爲不同國家設定「公平的」關稅稅率。特朗普此次對華關稅態度的轉變，能否平息市場恐慌情緒？關稅拉鋸戰最終結局如何？ Show More

Food流油

Apr 14 07:43

"Leaving the Group - Raising Taxes - Tweeting: The 'Money Making Strategy' of the Most Wild Gemini in Contemporary Times"

It's said that Trump is a walking drama machine, raising tariffs today and praising China tomorrow, making stock investors feel like they are on a roller coaster every day. But if you have seen hisThe Art of Trade, and then take another look at hisGemini horoscope—Wow! This guy's approach is simply the business version of "Empresses in the Palace", with every step marked by the four big characters "I want to make money".
The main core strategy in the book "The Art of Trade" is the combination of business thinking and the art of gaming.
Its core logic can be summarized into the following five dimensions:
1. The underlying logic of "creating momentum" and "the combination of reality and illusion".
The book emphasizes "always let the other party make the first offer" and "exaggerate demand to gain leverage."This strategy is often seen in tariff policies and trade negotiations.
[Example]
By imposing tariffs on various countries to create pressure, opponents are forced to the negotiation table, and then an agreement is reached through phased concessions.
II. Practical Application of the "Big Negotiation" Strategy
First, he scared everyone quite a bit, and then he gave a little reward.Imagine you are bargaining in a vegetable market, and Trump's approach is to first raise a loudspeaker and shout: "This pile of cabbage must be sold to me for 100 yuan today!" When the vendor is stunned, he suddenly rubs his hands and says: "But seeing that you are not having an easy time, let's settle for 80 yuan~"
[Example]
1. In 2018, tariffs were imposed on CN commodities, turning the global stock market into a green wilderness. Just when everyone was about to collapse, he suddenly signed a first-phase agreement and triumphantly tweeted: "No one understands deals better than I do!"
2. On April 2, 2025, ...

Option trading FAQ

1. How to trade options?