How to sell options on scottrade
How to 'Sell to Close' Stock option on Scottrade
hello this is a Nick from review outlaw
calm today I'm going to show you how to
close or sell to close a stock option so
I purchased TripAdvisor stock about two
months ago purchased it for six hundred
and fifty dollars one call option at a
closed or strike price of 6750 recently
just shot up so I want to close out my
option or take the profits on that so
Scot shade I'll show you how to do that
you're going to go to trade let me go to
options you type in trip and you're
going to click sell to close you're
going to choose the date which is a long
option so I did march eighteenth and
we're going to look at the price here
that I have and then it's going to tell
me here the range seventeen to eighteen
so I just have one it's a call option
you of course you want to limit it so it
doesn't go up too much and you can
choose your timeframe too so now we just
have to figure out what price I want to
sell them for that you have the bid
price and the asking price here so you
could or I could basically when you they
have something called buying on the bid
and selling on the ask
that's a option if I if I do that price
I'm more likely to sell it but if I
don't choose that price and show
something higher for example I could do
that I would just risk potentially not
selling the stock and if it goes down in
value
you know I might lose the transition or
the sale altogether so I'm going to just
pretty much sell it put the limit price
ads but I ask because I'm happy with my
profit there so put that in so I put my
limit price in here make sure it's limit
order limit price 1840 put until a
cancel and we don't have to do all and
run such as just one call option so now
we just verify all the data and we're
going to review the order you look at
commissions and fees look at the price
we're going to get back so all-in-all I
tripled my money from like 650 up to 18
so I'm super happy with that if we get
that price and now we're just going to
place the order and then we'll just wait
on the confirmation if that goes through
if the price did dip a lot I could
cancel that transaction and change my
limit order but I'm gonna leave that for
you know most of the day and just see
how it plays out all right if you have
any questions feel free to leave in the
comments and please give me a thumbs up
thanks
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