Series 4 | Investopedia

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class="layout-page"> <div class="layout-content">  <div class="tabs"> </div> <div class="region region-content"> <div id="block-system-main" class="block block-system"> <div class="content"> <div class="layout-body layout-body-article box clear"> <div class="walkthrough_tab"> <div class="form-item form-type-select"> <select class="selectmenu disn"> <option selected="selected">Chapter 1</option> <option>Chapter 2</option> <option>Chapter 3</option> <option>Chapter 4</option> <option>Chapter 5</option> </select> </div> <div class="ui-tabset"> <ul class="clear"> <li class="selected"><a href="javascript:;">Chapter 1</a></li> <li><a href="javascript:;">Chapter 2</a></li> <li><a href="javascript:;">Chapter 3</a></li> <li><a href="javascript:;">Chapter 4</a></li> <li><a href="javascript:;">Chapter 5</a></li> </ul> </div> <div class="tab_panel tabcontent"> <table class="tab-nav"> <tbody> <tr> <td class="tab-menu menuleft"> <ol class="nostyle"> <li class="selected">1. Option Basics</li> </ol> </td> <td class="tab-menu menuright"> <ol class="leftline nostyle" data-selected="1"><li class="selected" data-selected="1"><span class="a">1.1 Introduction</span><ol><li data-selected="0"><li data-selected="1"><strong><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/introduction/option-classifications/">1.1 Option Classifications</a></strong></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/introduction/bullish-vs-bearish/">1.2 Bullish Vs. Bearish</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/introduction/possible-outcomes-option/">1.3 Possible Outcomes For An Option</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/introduction/characteristics-all-options/">1.4 Characteristics Of All Options</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/introduction/managing-option-position/">1.5 Managing An Option Position</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/introduction/buying-calls/">1.6 Buying Calls</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/introduction/selling-calls/">1.7 Selling Calls</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/introduction/buying-puts/">1.8 Buying Puts</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/introduction/selling-puts/">1.9 Selling Puts</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/introduction/option-premiums/">1.10 Option Premiums</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/introduction/intrinsic-value-and-time-value/">1.11 Intrinsic Value And Time Value</a></li></ol></li></ol> </td> </tr> </tbody> </table> </div> <div class="tab_panel tabcontent" style="display: none"> <table class="tab-nav"> <tbody> <tr> <td class="tab-menu menuleft"> <ol class="nostyle"> <li class="selected">2. Option Strategies</li> </ol> </td> <td class="tab-menu menuright"> <ol class="leftline nostyle" data-selected="1"><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-strategies/introduction/">2.1 Introduction</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-strategies/using-options-hedge/">2.2 Using Options As A Hedge</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-strategies/long-stock-long-puts-married-puts/">2.3 Long Stock Long Puts / Married Puts</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-strategies/long-stock-short-calls-covered-calls/">2.4 Long Stock Short Calls / Covered Calls</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-strategies/short-stock-long-calls/">2.5 Short Stock Long Calls</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-strategies/short-stock-short-puts/">2.6 Short Stock Short Puts</a></li></ol> </td> </tr> </tbody> </table> </div> <div class="tab_panel tabcontent" style="display: none"> <table class="tab-nav"> <tbody> <tr> <td class="tab-menu menuleft"> <ol class="nostyle"> <li class="selected">3. Index, Interest Rate And Currency Options</li> </ol> </td> <td class="tab-menu menuright"> <ol class="leftline nostyle" data-selected="1"><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/index-interest-rate-and-currency-options/index-options/">3.1 Index Options</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/index-interest-rate-and-currency-options/index-option-settlement/">3.2 Index Option Settlement</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/index-interest-rate-and-currency-options/exercising-index-option/">3.3 Exercising An Index Option</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/index-interest-rate-and-currency-options/index-option-positions/">3.4 Index Option Positions</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/index-interest-rate-and-currency-options/capped-index-options/">3.5 Capped Index Options</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/index-interest-rate-and-currency-options/interest-rate-options/">3.6 Interest Rate Options</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/index-interest-rate-and-currency-options/price-based-options/">3.7 Price Based Options</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/index-interest-rate-and-currency-options/premiums-price-based-options-treasury-notes-and-bonds/">3.8 Premiums Price Based Options Treasury Notes And Bonds</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/index-interest-rate-and-currency-options/premiums-priced-based-options-treasury-bills/">3.9 Premiums Priced Based Options Treasury Bills</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/index-interest-rate-and-currency-options/rate-based-options/">3.10 Rate Based Options</a></li></ol> </td> </tr> </tbody> </table> </div> <div class="tab_panel tabcontent" style="display: none"> <table class="tab-nav"> <tbody> <tr> <td class="tab-menu menuleft"> <ol class="nostyle"> <li class="selected">4. The Options Market Place</li> </ol> </td> <td class="tab-menu menuright"> <ol class="leftline nostyle" data-selected="1"><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/introduction/">4.1 Introduction</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/option-clearing-corporation/">4.2 The Option Clearing Corporation</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/options-markets/">4.3 The Options Markets</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/chicago-board-option-exchange/">4.4 The Chicago Board Option Exchange</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/opening-and-closing-option-prices/">4.5 Opening And Closing Option Prices</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/fast-markets-and-trading-halts/">4.6 Fast Markets And Trading Halts</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/order-execution/">4.7 Order Execution</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/types-orders/">4.8 Types Of Orders</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/other-types-orders/">4.9 Other Types Of Orders</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/priority-option-orders/">4.10 Priority Of Option Orders</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/trade-reporting/">4.11 Trade Reporting</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/option-order-tickets/">4.12 Option Order Tickets</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/cabinet-trade-accommodation-trade/">4.13 Cabinet Trade / Accommodation Trade</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/expiration-and-exercise/">4.14 Expiration And Exercise</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/options-market-place/american-vs-european-exercise/">4.15 American Vs. European Exercise</a></li></ol> </td> </tr> </tbody> </table> </div> <div class="tab_panel tabcontent" style="display: none"> <table class="tab-nav"> <tbody> <tr> <td class="tab-menu menuleft"> <ol class="nostyle"> <li class="selected">5. Option Taxation And Margin Requirements</li> </ol> </td> <td class="tab-menu menuright"> <ol class="leftline nostyle" data-selected="1"><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-taxation-and-margin-requirements/taxation-options/">5.1 Taxation Of Options</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-taxation-and-margin-requirements/closing-option-position/">5.2 Closing An Option Position</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-taxation-and-margin-requirements/exercising-call/">5.3 Exercising A Call</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-taxation-and-margin-requirements/exercising-put/">5.4 Exercising A Put</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-taxation-and-margin-requirements/protective-puts/">5.5 Protective Puts</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-taxation-and-margin-requirements/covered-calls/">5.6 Covered Calls</a></li><li data-selected="0"><a href="/web/20160709222734/http://www.investopedia.com/study-guide/series-4/option-taxation-and-margin-requirements/option-contract-margin-requirements/">5.7 Option Contract Margin Requirements</a></li></ol> </td> </tr> </tbody> </table> </div> </div> <br/> <div class="content-box clear"> <p>The series 4 exam is administered by FINRA and is required to qualify a person as Registered Options and Securities Futures Principal. It is recommended that candidates spend at least 60 hours preparing for the exam by reading . The series 4 material has been provided by<a href="https://web.archive.org/web/20160709222734/http://www.securitiesce.com/series-4" target="_blank"> </a><a href="https://web.archive.org/web/20160709222734/http://www.securitiesce.com/series-4" target="_blank">The Securities Institute </a>to help Investopedia visitors prepare for the exam.In order to successfully complete the exam it is recommended that you read the following material in addition to reading a full textbook and doing as many practice exams as you can.</p> <p>An option is a contract between two parties that determines the time and price at which a stock may be bought or sold. The two parties to the contract are the buyer and the seller. The buyer of the option pays money, known as the option鈥檚 premium, to the seller. For this premium, the buyer obtains a right to buy or sell the stock depending on what type of option is involved in the transaction. The seller, because they received the premium from the buyer, now has an obligation to perform under that contract. Depending on the option involved, the seller may have an obligation to buy or sell the stock.</p> <div id="AdSlot_BC-TextNote" class="BC-Textnote"> <script type="text/javascript"> if (!noDfp || ecLayout) { targetingList.Location = "BC-Textnote"; // If content has the tag "partner-content-original" do not output a textnote ad unit on the page var articleTags = $("meta[property='article:tag']").attr("content"); if (articleTags == undefined) { articleTags = ''; } // If there's no "partner-content-original" tag output a textnote if (articleTags.indexOf('partner-content-original') == -1) { var bcTextNoteDynamicAd = new dynamicAd(); bcTextNoteDynamicAd.domName = "AdSlot_BC-TextNote"; bcTextNoteDynamicAd.slotSize = ""; bcTextNoteDynamicAd.taxSlotName = "BC-Textnote"; bcTextNoteDynamicAd.isFrameExtraction = false; bcTextNoteDynamicAd.targeting = targetingList; bcTextNoteDynamicAd.perCentLeadTime = .50; bcTextNoteDynamicAd.isRenderOnScroll = false; bcTextNoteDynamicAd.isDefinedOutOfSlot = true; 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Closing the connection."),this.close()))}},window.PanamaClient=o,n.exports=o},{10:10,11:11,8:8}],10:[function(e,n,t){n.exports.getPortNoFromCandidate=function(e){var n=/([0-9]+) ([0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}) ([0-9]+)/.exec(e)||[];return n[3]||null},n.exports.isServerReflexive=function(e){return-1!==e.indexOf("srflx")},n.exports.isIPv6=function(e){return/([0-9a-fA-F]){1,4}(:([0-9a-fA-F]){1,4}){7}/.test(e)},n.exports.extractCandidateIp=function(e){var n=/[0-9]+ ([0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}) [0-9]+/.exec(e);return n&&n.length>1?n[1]:null},n.exports.matchNodePeerIpAndPort=function(e){return e.match(/candidate:[0-9]+ [0-9]+ udp [0-9]+ ([0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}\.[0-9]{1,3}) ([0-9]*)/i)}},{}],11:[function(e,n,t){function o(){return Math.floor(99999*Math.random()+1)}function i(e){var n=o().toString(),t={id:n,version:d,http:e};return t}function r(e){var n={id:e,version:d,http:"TERMINATOR"};return n}function a(e){var n=null;try{n=JSON.parse(l+e)}catch(t){l+=e}return n&&(l=""),n}function s(e){if(!e.http||!e.id)throw new Error("Fields `id` and `http` are mandatory.");var n=e.id;if("TERMINATOR"===e.http){if(!u[n])return null;var t=u[n];return u[n]=null,t}return u[n]?u[n].http.body+=e.http.body:u[n]=e,null}function c(e){var n=a(e);if(!n)return null;var t=s(n);return t}var d="1.0",l="",u={};n.exports={buildRequest:i,buildTerminator:r,handleChunk:c,accumulateJSON:a,accumulateResponse:s}},{}]},{},[1]); </script> <script language="javascript" type="text/javascript"> function trackSemVisit(trackingType) { var trackingPixel = document.createElement("img"); trackingPixel.src = "/sem/sp.gif?type=" + trackingType + "&ocode=" + sem_ocode + "&ldid=" + sem_ldid; document.body.appendChild(trackingPixel); } if ((typeof sem_pageview !== 'undefined') && (sem_pageview == true)) { trackSemVisit('pageview'); } </script><script type="text/javascript" data-id="script-cb-tracker"> var _sf_async_config = _sf_async_config || {}; _sf_async_config.sections='Exam Prep'; _sf_async_config.authors='The Securities Institute of America, Inc.'; (function(){ function loadChartbeat() { window._sf_endpt=(new Date()).getTime(); var e = document.createElement('script'); e.setAttribute('language', 'javascript'); e.setAttribute('type', 'text/javascript'); e.setAttribute('src', '//web.archive.org/web/20160709222734/http://static.chartbeat.com/js/chartbeat.js'); document.body.appendChild(e); } var oldonload = window.onload; window.onload = (typeof window.onload != 'function') ? loadChartbeat : function() { oldonload(); loadChartbeat(); }; })(); </script></body> </html>

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