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Platform, Trading & Market Data

Which platform should I use to trade US stock options?
US stock options can be traded through:
- Options by UOB Kay Hian mobile application (iOS and Android)
- Web trading platform
What are the trading hours?
Monday – Friday
Regular Trading Hours
US (Eastern Time) 09:30 – 16:00
Singapore Time (Standard Time) 22:30 – 05:00 (next day)
Singapore Time (Daylight Saving Time) 21:30 – 04:00 (next day)
- Pre- and post-market trading is available for US equities under the Options account. US-listed options can only be traded during regular trading hours.
- Daylight Saving Time applies from the second Sunday of March to the first Sunday of November (US time).

What are the available options trading levels?

Options trading is categorised into 4 levels based on complexity and risk.

Level	Summary
1	Basic strategies such as covered calls.
2	Includes Level 1, plus directional strategies such as long calls/puts, long straddles/strangles, and protective positions.
3	Includes Levels 1–2, plus strategies with defined (limited) maximum loss, such as short puts and butterfly strategies.
4	Full access to all strategies, including higher-risk and uncovered (naked) positions.

Levels 1–2 are available by default. Levels 3–4 are only available to Accredited Investors (AI) / Institutional Investor (II).

How do I read an option symbol?
Example: AAPL MAY 06’26 247.5 Call
This refers to an Apple Call Option with a strike price of 247.5 expiring on 6 May 2026.
Breakdown
- AAPL: Underlying stock symbol (Apple Inc.)
- MAY 06’26: Expiration date of the option contract (6 May 2026)
- 247.5: Strike price of the option contract
- Call: Type of option contract, giving the right to buy the underlying stock
What is an option premium?
The option premium is the price paid by the buyer and received by the seller for an options contract.
It is made up of:
- Intrinsic value – the value of the option if exercised immediately.
- Extrinsic value – the additional value based on factors such as time to expiry, volatility and market conditions.
How is the option premium quoted?
Option premiums are quoted on a per-share basis, although one standard options contract generally represents 100 shares.
Example
If an option is quoted at $7.90 Bid / $8.00 Ask:
- A seller may receive approximately $790 in premium per contract ($7.90 × 100 shares).
- A buyer may pay approximately $800 in premium per contract ($8.00 × 100 shares).
The $0.10 difference between the bid and ask price is known as the bid-ask spread.
How do I know the total premium I received or paid for an options trade?
You may check the total premium from either of the following:
From your statement:
Under Trades > Equity Options, positive proceeds amount indicates the total premium received, while negative proceeds amount indicates the total premium paid.
From Transaction History:
Go to Performance & Reports > Transaction History. Under Gross Amount, a positive amount indicates the total premium received, while a negative amount indicates the total premium paid.

What are the fees for options trading?

Type	Amount
Commissions	USD 0.95 per contract Min USD 2 per order
Options Regulatory Fees (ORF)	USD 0.02295 per contract
FINRA Trading Activity Fee	USD 0.00329 per contract sold
OCC Clearing Fees	USD 0.025 per contract
Exchange Fees	Exchange fees vary depending on the exchange where the contract is executed
GST	Prevailing rate on commission and other charges

*US equities rate to follow current Utrade online rates (0.30% min USD 20)

Will my contracts be amalgamated if I trade the same option on the same day?
No. Contracts traded are reflected separately and will not be amalgamated.
Can I view real-time US stock price and options chain?
Real-time non-consolidated US stock prices are available upon login. Delayed (15-minute) options chain data may be displayed if you do not subscribe to the real-time OPRA Options Chain service.
How much does the real-time OPRA Options Chain cost?
Real-time OPRA Level 1 market data is available at USD 1.50 per month for eligible non-professional subscribers. The fee may be waived subject to monthly commission requirements.
A non-pro subscriber refers to an individual using market data for personal investing purposes and who is not registered or employed in the financial industry.
How do I subscribe to OPRA Level 1 real-time market data?
You may subscribe via the mobile app by following these steps:
Menu (☰) in the top-left corner > Settings > Account Settings > Market Data Subscriptions > Configure (⚙️) > under Level 1 (NBBO), locate OPRA (US Options Exchanges) > Continue and follow the on-screen instructions to complete the subscription.
Note: The signature must follow the name order displayed on the screen (e.g. First Name followed by Last Name).
Are these American-style or European-style options?
Most US-listed equity options are American-style options, which may generally be exercised at any time before expiration. European-style options may generally only be exercised at expiration.
What is options expiration?
Options expiration refers to the date on which an option contract becomes invalid and can no longer be traded or exercised.
What happens if my option expires in-the-money?
If an option is in-the-money by US$0.01 or more at expiry, it will generally be exercised under The Options Clearing Corporation (OCC)’s exercise-by-exception process.
However, if there are insufficient funds or buying power to support the exercise, the broker may close the option position before expiry to avoid exercise.
Will dividends and corporate action proceeds be subject to different tax treatment between my US Stock Options account and Utrade account?
Clients holding the same security in both their US Stock Options account and Utrade account may be subject to different tax rates on dividends and corporate action proceeds.
There may be additional handling fees and share-rounding adjustments may apply where the same counter is held in both accounts.
How will I be notified of a mandatory corporate action?
Any share adjustments resulting from the corporate action will be processed automatically and reflected in your account.
How do I participate in voluntary corporate actions (e.g. Rights Issue)?
You are required to maintain sufficient funds in your US Stock Options account for any rights issue or voluntary corporate action involving payment. Failure to do so may result in your acceptance of the corporate action event not being processed.
Will my US Stock Options account be included in my Utrade monthly statement?
No. Statements for your US Stock Options account are issued separately and are not consolidated with your other accounts.

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