Terms and Conditions:

1. Stock option account needs to satisfy margin requirement (cash amount for assignment) when opening a short put position, until the end of the contract or liquidation.
2. Commission free discount is exclusive to online trading and e-statement users.
3. Clients need to specify covered put when submitting order.
4. Commission of covered orders will be collected in advance and rebate to stock option account within the first 5 working days of next month.
5. Even if an option is out-of-the-money, the option may still be exercised.

Click here for Platform Interface of Covered Put

1. Corresponding stock is required in the stock option account whenever covered call position is opened.
2. Covered call can be exercised, and the stock used for cover is liquidated.
3. Commission of covered orders will be collected in advance and rebate to stock option account within the first 5 working days of next month.
4. Commission free discount is exclusive to online trading and E-statement users.
5. Even if an option is out-of-the-money, the option may still be exercised.

Disclosure and Disclaimer

Phillip Securities Group (the "Company") reserves the right to vary any promotion offers and services at anytime without further notice. In case of dispute, the decision of the Company shall be final. Investment involves risks. For more details, please refer to the Risk Disclosures Statement at www.poems.com.hk. If do not wish to receive any more messages from Phillip Securities Group, please contact our Customer Service Department at cs@philllip.com.hk or 22776555.

Requirements: Average options trading commission reaches HK$1,000 per month, or cash in the options account reaches HK$100,000.

How to open an account: Complete the “DCASS INDIVIDUAL CLIENT ACCOUNT APPLICATION FORM” and return the original to your account executive. After being signed by the account executive, it will be submitted on your behalf to the Stock Options Department at our Admiralty Head Office.

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