Think of the options chain as the “hub” and starting point of placing an options trade. Breaking it down into parts will help you to fully understand how to use a chain to place option trades quickly and easily.
The first part you’ll want to focus on is selecting either the calls or puts tabs above the options chain. If you are not yet familiar with calls and puts, you can check out the article our team wrote to get you up to speed here.
Next, you’ll need to choose the expiration date. You can reference the image above to find where this would be in the Jellifin app.
After picking an expiration date, the real fun begins — strike price selection.
Many different factors go into picking a strike price so make sure to do your research before choosing which strike is the right one for your trade.
After you pick your expiration date and strike price, you’re almost ready to place your options trade. Just tap the corresponding row on the chain which will take you to a screen where you’ll need to put in the number of contracts you want to purchase and then the order type. Price and Time in Force will be the final two steps.
As you can see, options trades start with the options chain so knowing how to use one effectively is very important. If you are confused about the terminology mentioned we also wrote an article which explains in further detail.
Our simplified options chain will make this process much easier.