We feature OptionsXpress. The following steps show you how to use their Xspreads single spread order entry screen. Logon to OptionsXpress Click the Trade tab at the top of the page Click the Xspreads link Click the Condor link Proceed to Step 2 on the right »» Help me find a brokerage account Xspreads Order Screen Enter a period before each option symbol. Be sure to enter the symbols with the correct corresponding action. Two actions will be sell to open and the other two will be buy to open. Xspreads Order Screen Enter the number of contracts that you want to trade. At OptionsXpress any order up to 10 contracts per leg has the same commissions. For $5 spreads you need $500 in your account per contract you want to trade. For $10 spreads you need $1000 in your account per contract you want to trade. Xspreads Order Screen Choose a market price or use the limit price we give you. Here is where you enter the limit price. Duration should always be 'Day Order' Click the 'Preview Order' button. Review your order for accuracy and click 'Place Order'

Now that your order is entered, wait for confirmation that the order has executed. Once it has, you may want to enter a couple of contingent orders to: close the 2 short positions, or close all 4 positions based on the early exit suggestions we give you. Go on to Step 6 to learn about placing contingent exit orders. Xspreads Contingent Order Screen Enter your contingent exit orders using the stop-loss prices that you feel comfortable with. We provide two for each position but feel free to adjust for your own risk tolerance level. There are help pages on the OptionsXpress site regarding contingent order entry.

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