1. Options Trading is a service provided by Australian Investment Exchange Ltd (The Participant, we, us or our) ABN 71 076 515 930 AFSL 241400, a Participant of the ASX Group and Chi-X Australia. EXCHANGE TRADED OPTIONS APPLICATION FORM 1 HOW TO USE THIS FORM – PLEASE USE CAPITAL LETTERS If you require assistance completing this application form please call the CommSec Options Desk on 1800 245 698, 8am to 5.30pm (Sydney time), Monday to Friday. This can be implemented by purchasing put options (puts) against individual underlying securities or against your domestic equities portfolio by purchasing puts in the S&P/ASX 200 (ASX: XJO).If the stock or index stays strong, the investor still benefits from upside gains minus the premium paid for the respective put.If the opposite happens, the investor has several choices.One option is to ‘exercise the put’ which triggers the sale of the stock. Alternatively, a paper copy of the updated information can be obtained by contacting a Client Service Officer on 1800 245 698 between 8am and … But this could be a gain or a loss, so investors have to understand the risks involved. %PDF-1.6
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Please note you will be asked some identification questions prior to being provided with your Client ID.Options can be used to minimise the volatility in a self-managed superannuation fund (SMSF) investment portfolio, and they might also be a way of boosting income.They can provide flexibility to manage markets that are rising, falling or moving sideways.SMSFs can use options as long as certain conditions are met, but specifically, a trustee is not able to use ETOs for speculative purposes.As options are a type of derivative, which is a complex financial product, it’s a good idea to talk to a financial planner or check guidelines on the Australian Taxation Office (ATO) website before investing in options.An option is a contract between two parties that gives the buyer the right, but not the obligation, to buy or sell an asset at a set price (the strike price) at a specified future date (the expiry date).The investor pays for the option and the seller gets to keep that payment whether the buyer uses, or exercises, the option or not.Exchange Traded Options (ETOs) are options traded on an exchange, such as the Australian Securities Exchange (ASX), so they have a standardised contract and they can be traded through an online broker, such as Options can be bought and sold at any time and the price will depend on the value of the underlying asset and the amount of time left before the option expires.ETOs can offer investors leverage, so a move in the value of the underlying asset will typically give a greater move in the value of the ETO. Past performance is not indicative of future performance.© 2020 Commonwealth Bank of Australia ABN 48 123 123 124 AFSL and Australian credit licence 234945 Buy Write strategy - also known as a Covered CallThe Covered Call/Buy Write strategy is when an investor holds a long positionYou would usually hold a long position if you expected the price of a stock might increase.But this Covered Call/Buy Write strategy is often used when the investor has a short-term view that the security will make minimal gains or remain flat and hence the writing of the call option is used to generate income, while also providing a limited downside protection to the underlying security given any unexpected fall.The premium received for writing the option is the maximum profit using this strategy if writing an at-the-money call option - where the strike price is identical to the price of the stock, or where the underlying share price remains fairly stagnant.The protection received is also the premium received and is limited in the event of any adverse move in the underlying security.Some considerations that should be taken into account with this strategy are:The other strategy that might be used by SMSFs is the Protective Put strategy. Any securities or prices used in the examples given are for illustrative purposes only and should not be considered as a recommendation to buy, sell or hold. Exchange Traded Options (ETOs) are options traded on an exchange, such as the Australian Securities Exchange (ASX), so they have a standardised contract and they can be traded through an online broker, such as CommSec. When applying for a CommSec Exchange-traded Options Account, please ensure you meet the following requirements in order for your application to be successful: You have a CHESS-sponsored CommSec equity account in the same name as the requested Options account.
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