Why trading Options on MooMoo is so complex?
I don't know whether I am doing wrong or the MooMoo platform is designed in a such way that trading Options on the platform is so complex. First, when you try to Buy/Sell, Call/Put you need to use complex naming like Symbol -NIO221216C18000 Name-221216 18:00C Order Price- 0.02. This long Options formating can be confusing. Furthemore, there no mention of credit/debit or +/- (or color coding red/gree) to show you are earning premium or paying it. Using same trading format/form for stock and options buying makes traders job hard and confusing. The trading Window/box/form is so small and there is no any option to modify, enlarge or customize it. Furthermore, there is no order types like bracket order, conditional order, stop loss/take profit order together with buy/sell of stocks. These features are almost available on any decent trading platforms nowadays. Hope MooMoo will bring these features soom. Please improve the user interface for TRADE page, like one MooMoo have done for ME page, recently. Thanks!
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Moomoo Lily : @moomoo BuddyHi, please assist.
Moomoo Buddy : Dear valued customer, We sincerely apologize that your experience didn’t match your expectations. the option code contains the underlying, expiration date, strike price, and exercise style.
Eg, NIO221216C18000
the underlying: NIO stock
expiration date: 221216 (12/16/2022)
strike price: 18000 ($18.000)
Types of options: C (CALL)
The method to trade option is the same as the method to trade stocks, you can select the order type, put in the price and the quantity, then you can choose to 'Buy' and 'Sell.'
If you have a long call option, it means that you will have the right to buy the security at the exercise price.
If you have a long put option, it means that you will have the right to sell the security at the exercise price.
If you have a short call option, it means that you will have the obligation to sell the security at the exercise price when the option is exercised.
If you have a short put option, it means that you will have the obligation to buy the security at the exercise price when the option is exercised.
Currently the option can only be traded during regular trading hours, pre- and post- market do not support trading the option. In addition to regular Market order and Limit order, you can also select the order type of advanced orders on the order page. We'd like to know more about the issues and help sort out. Please contact our 24/7 live chat agents through the app via Me > Customer Service.
Thank you and have a good day!
Moomoo Buddy : Thank you for letting us know about this. Your feedback helps us do better. We will continue to pay attention to the user experience and optimize the overall visual performance.
WizITOP Moomoo Buddy: Hi MooMoo Buddy,
Thanks for your response! MooMoo using long format for Options naming can be difficult for new users and it is easy to make mistakes while placing a options trade. Not having option to select Strike Price and Expiration Date in the trading box at the time of executing Options trade can be challenging for most of the traders.
Moomoo Buddy WizITOP: Dear valued customer, thanks for your kindly advise, we already forward to relevant team for improving our product in the future. Really appreciate for your understanding! Have a nice day!