Self-Directed Trading: Options
Whether you are a conservative investor or an aggressive trader, options may play a role in your investment strategy.* Options are financial instruments that convey the right, but not the obligation for the holder of such option to engage in a transaction on underlying security (either a purchase or sale at a pre-determined price). Options can be used to generate extra income, help protect the value of your portfolio or for speculative purposes. Transactions run from simple and conservative to complex and aggressive. Whatever your individual needs in this arena, Vision can assist you.
We are members of the two largest options exchanges: Chicago Board Options Exchange ("CBOE") and the International Securities Exchange ("ISE") which together make up in excess of 90% of all volume in the U.S. markets. We are also members of the Options Clearing Corporation and offer our clients very low pricing starting at $6 per trade plus $0.75 per contract (plus any applicable exchange fees).
* Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options (with 1997 through December 2009 supplement) and May 2010 Supplement to Characteristics and Risks of Standardized Options. Besides being accessible via our Web site, copies of the ODD are available from your Vision sales representative, or by calling 1-888-OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, Illinois 60606.
Low Commissions
Convenient Online Trading
The order entry screen on Vision's Web site is streamlined to make it very easy to place your orders. For example, if you select to trade "covered calls" on your stock positions, we show you each of your available positions and then the applicable option chains with month, strike price, pricing data and open interest. Once an order is placed you can check the status of that order and attempt to change or cancel the order if desired.
Options Education
It is essential for any investor or trader to learn about the mechanics of options, how they trade, the different strategies that can be used and the risks involved with trading options. For a full array of educational information on options including beginner, intermediate and advanced content, please visit our Options Education section powered by the Options Industry Council.
Great Customer Service
Many brokerage firms offer discount pricing and many also have decent Web sites to offer their clients. What separates one firm from the next is the level of customer service that they provide. At Vision we pride ourselves on providing the best possible customer service. Since our formation a quarter of a century ago, Vision has always focused on giving our clients the attention and support they need. Contact our Customer Service team from 8:00 AM to 6:00 PM EST each week day via e-mail or telephone (1.877.836.3949) and judge for yourself!
Apply to Trade Options
You can open an account quickly and easily with a low minimum investment. Account minimums start at $2,000 for cash accounts and $5,000 for margin accounts. You may fund your account with cash and/or with securities. Deposit a check, initiate a wire transfer or ACH (electronic) transaction or move assets from another brokerage firm to your account at Vision.
To trade options on your account, be sure to complete an Options Supplement in addition to our New Account Application. Certain levels of option trading also require a completed Margin Supplement. Please note that retirement accounts can only be approved for Level 1 or Level 2 options trading. Click here to see the details regarding the various levels of options trading available.
Click here to learn more about how easy it is to open an account with Vision.
Client Web Site Demo
Open An Account
Options Education
From the Options Industry Council: