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Option Chain (Option Chain)

Options are futures contracts with standardized contract details defined by the exchange. The most important contract details include the type of option or right (call or put), the strike price, and the maturity date or last trading date.

In order to Overview you can display all the options available for a particular underlying in a so-called "option list". Option chain - in English: Option Chain - and thus select the option that suits you best.

The Trader Workstation offers you this possibility by clicking on the chain symbol with the label "Option Trader" in the menu bar, or by calling up the Option Trader or an option chain for a single underlying via the menu item "Trading Tools" under "Focus on Options".

The Option Chain at a glance

In the option chain, the available options are arranged according to the above parameters:

  • Call
  • Put
  • Base prices
  • Due date (period)
The Option Trader of TWS shows the available options (here on the DAX index) in the option chain, sorted by calls, puts, maturity and strike price.

In the middle of the option chain you can see the selected Base prices. On the left side the Call options displayed, on the right side the Put options. Which data is displayed can be individualized. (e.g. bid price, ask price, Greeks, volume, etc.).

To set options with another Remaining term the corresponding register/tab can be selected in the register view. In the list view, the various expiration dates are arranged vertically.

Which maturities and strike prices are displayed can be set by clicking on "strike prices" and "period" (directly above the put options on the right side).

FAQ - Frequently asked questions about the option chain

What is an option chain?

An option chain is a list of all available options of an underlying. The available options are sorted by put/call, expiration date and strike price. In addition, other important option key figures can be displayed in the option chain.

What is the strike price of an option?

The strike price of an option is the price at which the underlying is bought or sold when the option is exercised. The strike price is also referred to as the exercise price or strike.

What is a Call Option?

A call is a call option. The buyer of a call has the right (but not the obligation) to buy an underlying (share, future, ETF, etc.) on a certain date at a predefined price. The seller of a call is the counterparty of the buyer and is obligated to deliver (sell) the underlying when the call option is exercised. Option premium.

What is a put option?

A put is a put option. The buyer of a put has the right (but not the obligation) to sell an underlying (share, future, ETF, etc.) on a certain date at a predefined price. The seller of a put is the counterparty of the buyer and is obliged to buy the underlying when the put option is exercised and receives an option premium for this.

What are options?

Options are forward contracts, or more precisely conditional forward contracts. This means that only one counterparty has a performance obligation, while the other has a right of choice. There are call options - so-called call options (short: calls) - and put options - so-called put options (short: puts).

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