Introduction

When you are trading stocks on Webull, you can use different trading features, including big button trading, trading from the chart, and quick trading. Different investors can select the trading features that suit them best. Webull also offers different trading methods for options.

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Options Chain

Many investors use the options chain to trade options. Also referred to as an options table, an options chain is a list that includes all available options contracts. The options chain displays information such as the current quote, trading volume, price change, etc. to help investors analyze each option contract.

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Options Discover

This newer method streamlines the trading process and gives investors an easy way to place an option trade. So, if you feel intimidated and confused when you are viewing an options chain, the options discover method may be better choice.

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How to Place a Trade with Options Chain and Options Discover

Due to your own personal preferences, you may want to either use the Options Chain or Options Discover tool when selecting an option to trade. See the animations to see how to go about placing a covered call option strategy.

How to trade a covered call strategy with the options chain:

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How to trade a covered call with options discover:

Under the trading process for an options strategy, you can see that the trading instructions for the options chain and options discover are different.

Generally, the options chain is a more comprehensive tool, which might suit informative and skilled investors. On the other hand, options discover is a simpler way to trade. The options discover method may help investors find trading ideas during the selection process.

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Options Chains vs. Options Discover

The options chains and options discover tools differ in functionality, the information they provide, and the strategies they make available. Let's take a look!

• Functionality: Compared to the options chain, the options discover streamlines the trading process, making it more friendly for investors who prefer a bare-bones analysis.
• Trading Information Provided: When viewing an options chain for a specific contract, you will find a complex maze of data. If you want to analyze contracts using this market data, trading from the options chains is more appropriate.
• Available Strategies: Whatever options level you’re approved for, you can trade the corresponding strategies on the options chain; Options discover only offers cash-secured puts, covered calls, buy-writes, long calls, and long put strategies.

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The Bottom Line

The option chain and options discover tools each have advantages. Only you can decide which one is best for you.

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Next Steps

Practice your options trading here!