How Do I Buy Options on Merrill Edge?
Go to the Options tab in your Trading window and select Buy Options to buy options on Merrill Edge. Navigate to the Buy Option Contract window and choose a strategy to buy an option contract. Select which type of options contract you want to purchase (call or put). Enter the number of contracts. A Merrill Edge trader will place an option order at the best price once you confirm the trade.
When you're ready to start trading options on Merrill Edge, the first thing to do is sign up for an online options trading account with your broker. You can register through the Merrill Edge website. It'll guide you every step of the way. Keep reading to learn how to buy options on Merrill Edge.
1. Sign Up for a Trading Account With Merrill Edge
When you sign up for an account with Merrill Edge, it'll ask you to choose a username and password. This is your login information for the web platform and the mobile app.
2. Click Trade
Choose Trade and then select Options. You will notice an option that says How To Buy. Select this option via the drop-down box. This will bring you to a page with general information about options trading.
3. Choose Options Trading
Find the Options Trading link. Click on it to go to a page with two choices: one for options only and one for stocks, options and mutual funds. Choose the second option, which will let you invest in options as part of a wider portfolio of assets.
4. Select Buy Options
You can buy options through your Merrill Edge account. Select the Buy Options button. A new window with the trade details of your order will open.
Input the stock symbol you want and the amount you want to spend. This amount should be equal to or less than the total value of your portfolio.
After you fill out all the necessary information, choose Buy Options. A Merrill Edge trader will fill in any missing details and approve your order.
5. Review and Confirm
Once you verify that you're ready to proceed, hit Submit Order. Review your current rates. Click the Buy Options tab to place your order.
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