Option Orders

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The Trading menu allows you to place orders on stocks and options as well as conditional orders. It gives you a complete view of all your assets held at Desjardins Online Brokerage as well as all the assets of the accounts linked to your user ID. The Trading menu also allows you to view your current orders and the details of executed orders.

Click New Option Order to place an option order.


Use the Account drop-down menu to select the account for which you would like to place your order.


Use this dropdown menu to select whether you would like to trade call or put options.


Select the option's expiry month from the dropdown list.


Enter the option strike price in this field.


The Action drop-down menu allows you to select the type of order you would like to enter. If you are selling an option as an opening transaction, you must indicate if the position is covered or uncovered. By default the "Covered" box is automatically checked for all "Sell to Open" orders. Uncheck this box if you are selling uncovered.


You can select "Market" to execute your order at the prevailing market price or enter a "limit" order by specifying a limit price. The latter will ensure that your order is filled only at a price equal to or better than the price specified, however it will reduce the probability of your order getting filled.

The minimum price increments ("ticks") accepted by the exchanges are listed in the table below:

US Canada
Under $3 $0.05 Under $0.10 $0.01
$3 and above $0.10 $0.10 and above $0.05

Note: More than 365 US stocks now participate in the Penny Pilot Program and trade in the following increments:

US Canada
Under $3 $0.01
$3 and above $0.05


Use this field to enter the number of option contracts you would like to trade.

All or None Orders

As the name implies, an all-or-none order restricts execution of a trade to the entire order. This prevents multiple fills for a trade which, if executed on separate days, could result in multiple trading commissions. Like any restriction, however, all-or-none orders are not displayed on the bid or ask and they are executed on a best effort basis.

All or none orders are permitted on US markets only.


You can use the calendar icon or manually enter a date to specify when you would like your order to expire. You can specify an expiration date up to 60 days away. Your order will be valid until executed, cancelled or expired at the end of the date specified.

Insider / Significant Shareholder

You must check the "Insider" and/or "Significant Shareholder" box(es) if you meet the description(s) below:

Under National Instrument 55-104 Insider Reporting Requirements and Exemptions (hereinafter, "NI 55-104"), a reporting insider is defined as being:

  • the CEO, CFO, COO and the directors of the reporting issuer, of a Major subsidiary footnote 1 of the reporting issuer, of a Significant Shareholder footnote 2 of the reporting issuer or of any post- conversion footnote 3 Significant Shareholder;
  • a person or company responsible for a principal business unit, division or function of the reporting issuer or of a Major subsidiary;
  • a Significant Shareholder or a post-conversion Significant Shareholder;
  • a management company that provides significant management or administrative services to the reporting issuer or a Major subsidiary of the reporting issuer, every director of the management company, every CEO, CFO and COO of the management company, and every Significant Shareholder of the management company;
  • an individual who performs functions similar to those described above;
  • the reporting issuer itself, if it has purchased, redeemed or otherwise acquired a security of its own issue, for so long as it continues to hold that security; and
    • any other insider who: in the ordinary course receives or has access to information as to material facts or material changes concerning the reporting issuer before the material facts or material changes are generally disclosed; and
    • directly or indirectly exercises, or has the ability to exercise, significant power or influence over the business, operations, capital or development of the reporting issuer.

Sending your order

When you are satisfied with your order, click on the Verify button*. This will take you to the Order Verification screen, where you can review the order details and click "Submit the order" to send it. Please ensure that you have included an emergency phone number in the Order Verification screen, in case Desjardins Online Brokerage needs to contact you regarding your order.

Note: The option symbol displayed on the Verification page may include additional zeroes in the strike price portion.

  1. A Major subsidiary is a subsidiary of an issuer whose assets are 30% or more of the consolidated assets of this issuer, or whose revenues are 30% or more of the consolidated revenue of the issuer.
  2. A Significant Shareholder under NI 55-104 is a person or company that has beneficial ownership of, or control or direction over, whether direct or indirect, of securities of an issuer carrying more than 10 percent of the voting rights attached to all the issuer’s outstanding voting securities, excluding, for the purpose of the calculation of the percentage held, any securities held by the person or company as underwriter in the course of a distribution. Post-conversion ownership of securities is also taken into consideration for identification as a Significant Shareholder.
  3. "Post-conversion" ownership is considered if the securities are convertible within a 60-day timeframe.