Tiger Brokers Singapore

Click on the icon located next to the buy/sell button on the order page to view the estimated margin, the commission cost and other important information.

Simply click on the "Trade" button to access the order page (Support switching between Lite & Pro versions) The default net price is set as the mid-price, but you have the option to customise it based on your preferred price.

Navigate to your portfolio, click 'Close' to close your combination order. In an event where users try to close a leg of an option that belongs to a specific combination order, Tiger Brokers will issue a reminder to avoid unintentional alteration in margin requirements.

• Covered Put : Investors simultaneously hold a certain quantity of short positions and sell an equivalent number of put options.


• Covered Call : Investors simultaneously hold a certain quantity of underlying assets (typically stocks) and an equivalent number of sell call options.


• Put Vertical Spread : Investors simultaneously buy a higher strike put option (long-term option) and sell a lower strike put option (near-term option).


• Call Vertical Spread : Investors simultaneously buy a lower strike call option (long-term option) and sell a higher strike call option (near-term option).


• Short Call and Put : Investors simultaneously sell a Short Call option and a Short Put option.


• Protective Put : This strategy combines buying stocks (or existing stocks) and purchasing an equivalent number of put options.


• Protective Call : This strategy typically consists of buying call options and holding an equivalent number of short positions.


• Put Calendar Spread : Buying and selling two put option contracts with different expiration dates but the same exercise price and underlying asset.


• Call Calendar Spread : Buying and selling two call option contracts with different expiration dates but the same exercise price and underlying asset.


• Butterfly: 3 legs with 3 strike prices, either all calls or all puts, including long call butterfly、short call butterfly、long put butterfly and short put butterfly.


• Iron Butterfly: 4 legs with 3 strike prices, consists of a call spread and a put spread, including long iron butterfly and short iron butterfly.


• Condor: 4 legs with 4 strike prices, either all calls or all puts. This includes long call condor、short call condor、long put condor and short put condor.


• Iron Condor: 4 legs with 4 strike prices, consisting of a call spread and a put spread. This includes long iron condor and short iron condor.

• If your new holdings can be combined with existing positions to form an option combination, the margin requirement for the combination may be reduced.


• Closing a portion of your combination option will render the order invalid and discontinue margin discounts, potentially increasing your account's risk. If your Excess Liquidity (EL) falls below zero, it may trigger a forced liquidation. Therefore, users are advised to ensure sufficient account funding before closing a combination option order.


• To minimize any margin increase upon closing, consider closing the options within the combination before the underlying stocks. Closing underlying stocks first may lead to the coexistence of options and stock positions in your account after the option combination becomes invalid. The combined margin requirement of both positions will be higher than the margin requirement of the option combination, leading to an increase in your account's margin.


• Please note that option combinations may currently not be applicable to certain positions due to corporate actions that result in changes in the underlying codes or contract multipliers.


• If the positions within the option combination are affected by such corporate actions, it may lead to the invalidation of the combination and consequently an increase in margin requirements. If your account's current Excess liquidity (EL) falls below zero, it may trigger a forced liquidation. Please ensure that you have sufficient funds in your account before closing positions within the option combination.

The fee structure for option combination orders is consistent with that of single-leg orders, where each leg is billed as an individual contract (specific rates can be found on the official website). The total cost of the combination is calculated by aggregating the fees for all contracts involved.

For Example: A user purchases 2 vertical spreads in Apple, which consists of one call option and selling one call option within the same contract. The fees for 2 call options is US$0.65 per contract, which totals US$1.30 (US$0.65 * 2), however do note the minimum commission per order is US$1.99. Since there are 2 option contracts in 2 vertical spreads, the total commission is US$3.98.