# Options Orders

This page provides examples of valid order payloads

# Tier 1 Orders

## Sell a Covered Call

```
{
  "symbol": "AAPL231201C00195000",
  "qty": "2",
  "side": "sell",
  "type": "limit",
  "limit_price": "1.05",
  "time_in_force": "day"
}
```

Note, the account must have an existing position of 200 shares of AAPL as the order is for 2 contracts, and each option contract is for 100 shares of underlying.

## Sell a Cash-Secured Put

```
{
  "symbol": "AAPL231201P00175000",
  "qty": "1",
  "side": "sell",
  "type": "market",
  "time_in_force": "day"
}
```

Note, the account must have sufficient buying power.  The account must have ($175 strike) x (100 shares) x (1 contract) = $17,500 USD buying power available.

# Tier 2 Orders

## Buy a Call

```
{
  "symbol": "AAPL240119C00190000",
  "qty": "1",
  "side": "buy",
  "type": "market",
  "time_in_force": "day"
}
```

The account must have sufficient buying power to afford the call option.  If the market order is executed at $5.10, the account must have ($5.10 execution price) x (100 shares) x (1 contract) = $510.00 USD buying power.

## Buy a Put

```
{
  "symbol": "AAPL240119P00170000",
  "qty": "1",
  "side": "buy",
  "type": "market",
  "time_in_force": "day"
}
```

The account must have sufficient buying power to afford purchasing put option.  If the market order is executed at  $1.04, the account must have ($1.04 execution price) x (100 shares) x (1 contract) = $104.00 USD buying power.