A specific
buy or sell price, or a market order to buy or sell
at the current market price
Whether you'd
like to use a cash account or a margin
account, though at some firms certain types
of transactions must occur in a margin account
The next step is confirming your order before
it is placed, double-checking the information displayed online
or repeated back to you by your broker to make sure it's
correct.
After submitting the order, you should receive a confirmation that it has been placed — but not yet executed. There will be a period between when your order is placed and when your brokerage firm can fill it. That might be only minutes or up to several hours.
When your options order has been executed, you should receive a notification that will include the price at which it was executed.
In most cases, you can monitor the status of your options positions through your brokerage firm's Web site.
