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[music] >> Hello, I'm Anthony Okolie sitting in for Greg Bonnell. Welcome to MoneyTalk Live, which is brought to you by TD Direct Investing. and every day, we are joined by guests from across TD, many of whom you will only see here. We'll take you through what's moving the markets and answer your questions about investing. Coming up on today show, will be answering your questions about the WebBroker platform with Jason Hnatyk, Senior client education instructor with TD Direct Investing. Here's how you can get in touch with us. Just email moneytalklive@td.com or fill out the viewer response box under the video player on WebBroker. before we get our guest of the day, let's say you an update on the markets. we will start here in Canada with the TSX Composite Index. Right now the TSX Composite Index is trading down just about 8/10 of a percent. Taking a look at some of the big movers on the markets, shares of Canadian Natural Resources are down nearly 3%. Of course, oil prices are lower today on China demand fears. Now, let's move to south of the border. The S&P 500 index is down .7%. Of course, US markets are coming off a holiday shortened trading week. US markets were closed on Monday for the Juneteenth holiday and investors received a pause on rate hikes from the Fed last week and some encouraging inflation data as well. Let's take a look at the tech heavy NASDAQ. Tech heavy NASDAQ is down .6% right now or about 84 points. The markets have been coming just a bit off their lows from earlier today. Now let's take a look at some of the stocks that are moving the markets. Alibaba, shares of Alibaba are down about 4.8% and, of course, today, this is a Chinese tech giant that is under pressure after announcing that their company CEO is stepping down. And that's your market update. Joining us now to discuss how to better utilize the WebBroker platform is Jason Hnatyk. He is a Senior client education instructor with TD Direct Investing. Welcome to the show, Jason. >> Thanks for having me, Anthony. It's always a pleasure to be here and it's kind of a special occasionbecause WebBroker, there's just so much there for investors and it's going to be a treat to walk us through some of the hot button issues and questions that you guys have gotten in your inbox. >> We do have a lot of questions so we will get going right away. The first question is on GICs. On WebBroker, it seems only allows investors to buy a GIC, but not to sell. Can one of your educators please elaborate on this in one of the upcoming shows? Jason, take it away. >> Yeah, glad to tackle this one. In our master classes that we run in WebBroker as well, GICs seemed to be one of the more attended classes, lots of questions coming in about those, but great to address this. now in terms of selling a GIC, we need to understand first a little more about the product itself. These are guaranteed investment certificates and they are typically locked in for the term till maturity that you have on that particular investment. Now let's jump into WebBroker and I will show you where you have a little bit of wiggle room to find something that might be redeemable. Redeemable is a big step away from something that you can sell, but I will show you in the platform where we can find them. So to find where the GIC use are, we are going to go to the trading tab at the top of the page. Under the buy sell column, you will notice GIC's are all the way down here at the bottom. Now if flexibility and access to your money is going to be paramount for this type of investment, you will notice the third choice over is you are cashable GICs. This is where you will have the opportunity to pull back your money when needed. That cashable functionality is not available through WebBroker. You will need to make a call in to one of our friendly representatives in our contact centres who are ready to help you. But if you are looking to buy a longer-term GIC, this can be accomplished right in the platform. Let's go ahead and choose a short term. This is something with a maturity length of less than one year. The long-term is anything from 1 to 5 years would be her more common selection. So let's jump into this to show off the functionality of this tool here. We have the ability to choose the maturity link that you are after and second of all, here's where you can select the exact term that suits your own individual situation best. Let's just select five years and now we have the opportunity to also choose the frequency with which you would like to have your interest paid out, monthly, semiannual, annual and compounded annually. Compound annually seems to be a very common selection for investors because it's taking your earnings and applying it to your principles so you will be earning more. A final point on the GICs we've got available here, we sell GICs that are from TD. We also sell GICsbetter from different issuers to allow you to shop the best rate but also to then layer on different CDIC ensuring companies to really make sure you are covered and get that is the main priority. > You want to make sure you diversify in terms of getting that CDIC coverage. Okay, now, we are going to stick with money market instruments. I got another one for you here. How can I find out what the yield is on a money market mutual fund? >> Yeah, this is another common question and very similar to GICs, with the uptick in interest rates that we've seen since last year when inflationary concerns have caused not only the Fed but the Bank of Canada to start raising rates, your GICs, your money markets, any other interest-bearing products, bonds included, we've started to see an uptick in their interest rates or we have seen for a while, so people are very interested to have their money work a little bit harder for them. So let's go into WebBroker again and I will show you where you can search for money markets and then identify the different yields they are paying so we can once again have your money work harder for you. I'm going to run a quick screen to find Canadian money markets are on the platform. The way we are going to accomplish that task is this time we are going to click on research and we have the tools call them in the middle of the screen. Screeners is just about in the middle of the list. Here, in our education segments, we have touched on the screen as many times. You have the opportunity to screen for stocks, if your technical analyst, you can screen for specific technical events as well as mutual funds and ETFs. So we are going to focus on mutual funds for this particular purpose. We've got some preloaded screens that are here if you want to see what else is out there but if you'd like to create something completely custom to your own taste, you can go ahead and choose your create custom screen button here on the right-hand side. We will keep it simple. We just want to identify those Canadian money market funds. We are going to do that by choosing a particular fund category. We are going to add that criteria to our list. And then, here's the difficult part online and, this ruling through the list and making sure you find the right selection. We are going to scroll down and find Canadian money markets is one of the selections that are there. I didn't scroll by it. Good for you, Jason. We are going to uncheck ETFs at the bottom. We just want to fight mutual funds. Now we can see there are at 34 Canadian Pacific money market mutual funds available for our investment. All right, now that we have found this particular category, we have all of these different information tabs that we can use to compare these different investments to each other. so we can be sure that we are choosing the right one. It let's go ahead and choose performance and now this brings us back to our question where we get to see how each of these funds, what percentage of their assets or they just are beating back to the holders of these funds. So now, we need to make sure we find the fund that is working the hardest for us. We want to focus on the top selection here, the TD Canadian money market portfolio. The symbol here is on the screen. Just for example purposes. If we want to find out more about this fund, we can click the symbol and on this popout chart that we get, there will be a summary button that is available at the bottom. This is where we can do a little bit further research to make sure whether or not it's a money market or another mutual fund that you are interested in that meets your own investment checklist and your diversification qualifications. So you're here, you've got the opportunity to attract different yields over time, we can track which assets are being held in this particular fund. But going back to the yield, two less places that I will show we can find that, of the top or we can see our quote, we have our distribution yield posted there. The last place you can find the distribution is when you are making a purchase of the mutual funds. I clicked on the buy button at the top of the screen. You are going to get a quote on the right-hand side for the particular investment that you're buying it as well the yields are present on this order ticket. So all that important information is never out of reach when you are making those important investment decisions. >> A great start to the show. Thank you very much, Jason. We'll get back to your questions about the WebBroker platform for Jason Hnatyk in just a moment. And reminder that you can get in touch with us at any time. Just email moneytalklive@td.com, or fill out the viewer response box under the video player on WebBroker. No onein the world of business and take a look at how the markets are trading. The office of the Superintendent of financial institutions announced today was raising the domestic Civilia buffer for banks to 3.5% from 3%. The buffer dictates how much capital banks need on hand. The financial ringleaders cited concerns including high household and corporate debt levels. The changes effective November 1. There is a multibillion dollar deal in the pharmaceutical space today. Eli Lilly has a deal to acquire Dice Therapeutics for $2.4 billion. The move will see Eli Lilly growth portfolio of treatments for immune -related diseases. Global shipping giant FedEx is on deck to report earnings after the bell. The company is seen by many investors as a bellwether of the economy. And shipping volumes have come under pressure as consumers move away from discretionary purchases in the face of inflation. And here's how the main benchmark index in Canada is trading. Right now, the TSX is down .8% or hundred and 59 points and it has come off a little bit from its lows earlier on. We will take a look at the broad-based S&P 500. It is also down about .7% or 31 points. Again, still slightly off its lows but again still opening lower. Mark is also bracing for comments from Fed chair Jerome Powell on Wednesday and Thursday. Traders are looking for clues about the Fed's next move after it held great steady this month but signalled more hikes to come. So there might be some anticipation ahead of that this week. All right, we are back with Jason Hnatyk, take your questions about the WebBroker platform. Jason, here's the next question. It's a good question. This is about CDIC. What's the max CDIC will cover? Of course, this is the Canadian deposit insurance Corporation. It Jason? >> This only goes really well with the first question when we were talking about GICs and we went over the different rate sheet so you can really maximize the coverage that you can get because it's really all, the coverage you have available to yourself is dependent on how much you've got with that particular insurer. Let's jump into WebBroker and I will show us some information on where we can get educated about that insurance process. The first place I would like to bring you is to show you, we created a video here in education, we have lots of content we like to bring out, but it's all around showing how CDIC works as well as how the bank is protecting your money. We use the search bar at the top of the page and we search CDIC. There is an excellent video here called how to Canadian banks protect your money? It's a quick, short, very targeted video so it's worth a watch. to get speaking about specific amounts that are covered, what I would like to show the viewers is actually a great resource. It's going to take us outside WebBroker for the time being. I'm going to bring up the CDIC page as well. it's their page, their insurance, so let's go right to the horses mouth and get that information to make sure we are kept informed. So right from CDIC.ca, it we'll check out your coverage at the top of the page, there is a protecting your deposit section. This is going to allow you to identify exactly what's covered and what's not covered. The GICs that we talked about, they have limits, they are covered. Money market funds are on the noncovered funds side, mutual funds. Now we are getting to understand what investments do we have in our portfolios and what coverage they are going to automatically come with. Now scrolling down on this particular page, we get a sense to see exactly what's covered. So if we are thinking about what's covered in a GIC, you are covered up to $100,000 for that particular issue or, just the same way you'd be covered if you got $100,000 in your bank account. But rest assured, there is extra insurance that comes right along with CDIC if you happen to have a joint account or a GIC in a joint account. That's also getting its own separate coverage. As well as we progress down the list, it's really nice to see here, you got all the different registered plan accounts. They are also coming along with their own $100,000 worth of coverage. So you are able to rest assured. That's been an issue months back, instability you in the US regional banks. Just now that we have a strong protection system in place in the Canadian market to make sure you got that market, and it's $100,000 per issuer and then going through each of those specific type of registered plans to make sure that you are safe and covered. >> Great information and thanks for showing us that website as well. Let's move to the next question. Where can I find and compare dividend yield for various stocks on WebBroker? >> Yeah, great question. Once again, this is all about making sure that you are-- that your money is working hard for you, that you know that if you are after dividend, you can get that repeatable income stream, whether it's to help supplement your income or may be put away for retirement, you want to make sure that you got those reoccurring deposits coming into your accounts. So let's jump into WebBroker and we can see where we can find that information. First of all, I'm going to show us where we can find the dividends if you are looking at one particular stock. We are going to go under research and investments, we are going to choose stocks. I happen to have TD up on the screen here. If the company pays a dividend, not all companies do pay dividends. It's going to be up to them whether or not they are going to be distributing their earnings back to their shareholders. But to identify that information, when you scroll down on the right-hand side, some fundamental information will be available. We got our dividend yield, dividend rates. I now question also spoke to earnings-per-share, some of the more fundamental information, that's all going to be available here on this right-hand side of the screen just by scrolling down a little bit. I'm all about trying to work smarter, not harder. The way we can accomplish this and use this and use a tool to track multiple stocks at the same time is to use a watchlist. you can add it to a watchlist. You can also find your watchlist by using this hot button on the top of the screen, that star iconography. We can go ahead and click on those watchlist. Here in WebBroker, you get access to 10 personalized watch lists of your choice that you can craft and curate and really make sure that you are keeping an eye on what's important to you. I'm on my banks watchlist that I created for myself, I listed some of the big Canadian and US banks. There is a fundamental tab right at the top the list. If we go ahead and click on that, this is going to bring up some of that information, so now we have an opportunity to compare these companies to each other. We can see that we have our PE, our price to earnings, we have our earnings-per-share, we have the dividends as well as dividend yield. So we are working smarter, not harder. We got a lot of information available at our fingertips. Before we move on, I would be remiss not to say that is a really interesting tool on the watch list that I feel is underutilized in WebBroker and that's the tracker function. If we use the tracker functionality, this is your opportunity to make a mock portfolio. I go ahead and enter a number of shares that I would like to buy and the price that I theoretically want to buy the mat and I can, without actually putting any skin in the game, and test out a new investment strategy or I have a theory about a particular company, is going to track how successful I've been. So right in WebBroker, you can kind of test a theory or strategy without ever placing a trade so that when you do go place a trade, you got a bit of analytics behind you and you're ready to go and put your money where your mouth is, if you will, for lack of a better term. >> I like that will because sometimes, I'm not as confident in my pics, so that's a very good tool. Great suggestion as well, Jason. Thank you for that. Let's move to the next question. This is an interesting one as well. if I already own the stock, is there a way to find their closest competitors? >> Yeah, there sure is. Just like a watchlist is going to allow us to kind of create our own list, we've got lists that are created for you so that you can identify those closest competitors. Let's hop back into WebBroker. We will stick with TD which we have on the screen. this will be under the fundamentals tab. We have our stock quote right up above here. If we go down below, these tabs run horizontally across the page. We choose fundamentals. Within this section, this is where your quarterly reports, financial statements that companies are obligated to release every quarter or three months, they are listed here. For all the analysts out there, there is no lack of good information here for you to decide if something is over or under value. What I want to show everybody here is the pure comparisons. In the pure comparison section, it allows you to compare the company in question not only against a particular industry average, it looks like we are kind of stuck. Now I'm going to jump back to the homepage. Oh, the joys of live Internet TV. >> You're doing great, Jason. >> We will get it done. We are back on our overview page. If we go back into fundamentals and this time now going to pure comparison. There we have the information that's important to show. Here, you've got the company question, the industry average as well as its closer competitors. We are able to compare many of that fundamental information. We have been talking about dividends and yields. This is also available to be comparedon this tab as well if we just scroll down below. We have return on assets as well as annual dividend rate. Okay? So this is about one particular company, it's very closest competitors. One thing I will show everybody is your ability to scan specific sectors and industries to maybe widen your net to get a broader view of what's available in a particular area of the economy. We are going to go back to our research tab at the top of the page. This time under markets, I'm going to go to sectors and industries. From here, you have the opportunity, where we are looking to trade, you can choose between the Canadian and the US markets for those that are interested in investing on the other side of the border. If we scroll down, let's stick with financials, down below, we have the financial section. We go into financials, it breaks it down, the different areas of the financial sector. If we were trying to find TD and its competitors, you'd be searching in the financial services diversified. Here's an opportunity again to cast a broader net so we can really see how one company is going to be stacking up against a broader list of competitors in that same financial sector. >> Great information. Great insights. Thank you very much, Jason. As always, make sure you do your own research before making any investment decisions. We will get back to your questions for Jason Hnatyk on how to get more out of the WebBroker platform in just a moment. And reminder that you can get in touch with us at any time. >> Do you have a question about investing or what's driving the markets? Our guests are eager to hear what's on your mind, so send us your questions. There are two ways you can get in touch with us. You can send us an email anytime at moneytalklive@td.com or you can use the question box right below the screen here on WebBroker. Just write in your question and hit send. We'll see if one of our guests can get you the answer right here at MoneyTalk Live. >> Okay, we are back with Jason Hnatyk, take your questions about the WebBroker platform. Next your question is on the aftermarket. Can I change in order that has not been filled at the market close in the aftermarket hours? >> Excellent question. We want to make sure that we have control of our investments and being able to edit orders that have not executed or not expired is certainly part of that good order management. We are not looking to stick our heads in the sand and hope that thing happens. We want to be kept informed and in control. Let's jump into WebBroker and find out exactly how that can be accomplished. We already looked at our watchlist's hot button at the top of the page. There is also this reporter status button. It's a checkmark that appears to the left of our watchlist. In my demo account I don't have any live orders but this is the spot where folks would come to make adjustments on their trades. So here, if you can imagine, there would be an order that has been place. There would be a button that you would select that would allow you to change maybe it's the limit price, maybe you want to cancel the order outright, maybe you are looking to change the time in force, maybe you want to change it from good till cancel to a specified date, all that functionality is going to be available during market hours and after hours trading.timing is always key in the market. I think that's pretty well understood. one thing I want to mention about order cancellation is if you placed a market order, and market orders are orders that are going to fill, there is no price guarantee with a market order but the expectation is that they are going to execute in real time at the next best available price. Now if you're placing an order outside of regular market hours and you're using a market order, that market order will be available for them market open the next morning at 930 Eastern time. So if you slept on it, you know you no longer one that order, as long as you're able to cancel that order in this order status page that we had up on the screen, that's where you will be able to cancel that and maybe go ahead and modify that, maybe you are looking to choose a limit order to give yourself some price certainty but you got that control to go ahead and that same spot to take care of that order. > It's important to know what you can do after hours and before hours, of course. Thanks for clarity. It turned to the next question. This is on RSP's. It's a good question. How can I withdraw or deregister funds from my registered savings plans or RSP within WebBroker? >> Great question as well. It's all about being self-sufficient online. I mentioned our friends in our contact centres. We are there to provide that assistance over the phone. Give a call into those folks or use the contact us function in the TD app. that will be a great way to get some personal service. But if you are looking to do this yourself in WebBroker, it can be accomplished in just a few steps. let's take a look at how that can be done. Now that we are back in WebBroker's we are going to select the accounts tab. Now if you are in a RIF account, if you had a registered income fund, so that would be available in a different spot under the account details, the RIF withdrawal section here. If we are thinking about doing RSP withdrawals, that's going to be under the transfers and withdrawals section. It is the second option from the bottom. It is quite easy. It's really just point and click can go ahead and make those withdrawal parameters known. So we're going to go ahead and choose that. You have the opportunity to either do that self-service right in the website and choose to continue with the form here or if you are more comfortable dropping the form off at a local branch, you have the opportunity to download and print the form so you can handle your business in person if that's your prerogative. So going to the WebBroker functionality here, we just go ahead and choose the select RSP button. We've got a few important considerations, so be sure to go through and read this. When we are withdrawing from RRSPs, there is the potential for tax applications. They're going to be tax forms will be generated that we will make sure are available for you come tax time. But really make sure that you've done your due diligence before you proceed with this and these important reminders help to kind of make sure that you are well prepared. But if we continue through this, this is where the point of my demo ends because when you are in your own particular account, you are going to have the opportunity to choose for your different RRSPs. If you have an RESP and it comes a time when your child is going to school, you'll be able to choose that and then it's really just about selecting the amount of money and then it will be confirming the income tax withheld from there. But it's really just a few clicks from that accounts tab at the top of the page. >> Really simple and easy to follow. Thank you very much, Jason. Let's move to this question from our viewers. This is when technical analysis. Where would I go to learn more about charting or technical analysis? A few technical analysis viewers out there. Jason. >> Absolutely. Now, this is one of our more hotly attended master classes as well. People are always looking to identify signals may be for either continuation or reversal of trends, or you're looking to find out where or which particular indicator or oscillator, what they are telling you if they are moving in a particular direction. So WebBroker actually has a, quite a robust technical analysis learning and research functionality. Tillage show everybody where they can find that important information. This can be two things I want to highlight for you. The first is going to be your opportunity to consume some of our technical analysis video resources that we have on the page and that's going to be under the learning centre. Under learning, if we go to our video lessons here, there's quite a lot of information is available for you here. I've highlighted our master classes a few times in our discussion here, Anthony. That's available here. Whether or not you want to learn more about technical analysis or fixed income or options or whatever the case may be,it's all available here. You will see our schedule. But if you're thinking about that on-demand, easily consumable video content, that's going to be under video lessons. What I want to show everybody here is an opportunity to filter for the subject that's important to you. In this case, we are going to be choosing technical analysis by filter. We scroll down to picking investments and we have technical analysis over here towards the bottom. We go ahead and apply that filter. We can see that there's 21 separate lessons all about technical analysis, from using the tools in the platform to identifying particular candlestick patterns. The one I want to show off to everybody's on the second page here. There is a really in depth five-part course here. We've brought in outside experts to talk about his area of specialty and to really kind of understand what technical analysis has to offer. All right, so those are your video courses. But beyond that, there is even more here. Phyllis got ourselves back to our stocks page where we found some of our fundamental information earlier. Well, I think it's a bit of a hidden gem here on WebBroker. Sticking to these tabs beneath the quote, the technical tab is the furthest to the right. On this particular screen, there are a few really interesting things that are going to be available to users on WebBroker. You have the opportunity to have WebBroker scan the market for particular technical events that have happened over varying degrees of time. It's highlighting them for us on the chart here that is listed below. We also get the opportunityto expand a particular event, so it can be highlighted on the chart, and then read and learn more about that specific indicator or crossover or whatever it happens to be and learn why that might be important to you as an investor and how you can put it to work on your behalf. All right, now, beyond identifying particular events, if you want to read up on some of these events and indicators, where you can do that is up at the top of the page, still on the technical staff, you will notice there's a little graduation. That will bring you to our education page within the technical section. We go ahead and choose that. We have on the left-hand side a very extensive menu of different technical events even choose to read up on. if we chooseindicators, there are three options, they are all about moving average crossovers, when they're crossing over each other or if the price itself is crossing over moving average, you can go ahead and really learn about that. So we choose our price process moving average, not only are we getting a description of what that event entails, you are getting a picture so you know what to look for if you are scouting out a chart on your own. and key considerations that you can use when you are looking to make some trading decisions. But one of the really interesting portion of this isif we want to find particular places where this event has taken place, we got this find events button on the top and WebBroker will run a screen of the market to find in this case where the price of investment has crossed a particular average. So you're really once again keeping on the vein of smarter not harder. This is another way to use tools and WebBroker to best advantage. >> When you talk about tools, it's nice that there are videos for people who are novices like me all the way up to experts on technical analysis. >> Yeah, the learning never stops. We really feel like the education that we offer here a direct investing is a differentiator in the industry, where we got a lot of different courses for folks of all different skill levels. So come check out that learn tab for not only on demand classes but those master classes that are live and interactive with instructors just like myself. >> We will get back to your questions for Jason Hnatyk about the WebBroker platform in just a moment. As always, make sure you do your own research before making any investment decisions. And a reminder that you can get in touch with us at any time. >> Do you have a question about investing or what's driving the markets? Our guests are eager to hear what's on your mind, so send us your questions. There are two ways you can get in touch with us. You can send us an email anytime at moneytalklive@td. com or you can use the question box right below the screen here on WebBroker. Just write in your question and hit send. We'll see if one of our guests can get you the answer right here at MoneyTalk Live. [music] >> Time for an update on the markets and we are having a look at TD's Advanced Dashboard. This is a platform designed for active traders available through the TD Direct Investing and we are looking right now at the heat map function here, which gives you a view of the market movers on the TSX 60 by price and volume. And you can see here that energy and mining stocks are under pressure today. We know that oil prices are lower today on China demand fears. I'm taking a look at some of the big names. I see on the left-hand side, Canadian Natural Resources is in the red, as well as Suncor. Taking a look at some of the mining stocks, Barrick Gold is down a little bit. Some trading volume there. And you can find more information on the TD Advanced Dashboard by visiting TD.com/advanced dashboard. Now, we are back with Jason Hnatyk from TD Direct Investing with more questions from our viewers. Okay, let's go to the next question from our viewers on conditional orders. What are the benefits of conditional orders? Jason. >> Yeah, conditional orders are one of my favourite subjects to talk about. I know you were just talking about advanced dashboard. We teach classes all about advanced dashboard and some of these conditional orders are really able to be used on the platform as well. So it can be a really powerful piece of technology. But conditional orders, when we are teaching in our master classes, we like to talk about creating an investment plan, removing emotion from the trade and that can sometimes be easier said than done with volatility in the market, when you're talking about your own money that you worked hard for, you want to make sure that things are going in the direction that you're hoping them to go in. But conditional orders can be very useful to help implement the plan and almost automate the process. If we just jumped into the platform and take a look at some of those features. So where we are going to go this time is up to our order ticket. We bought our by cell button here at the top, in the right-hand section of the screen. If we choose that, to get into our conditional orders, there is going to be a strategies tab here at the top of the page. By selecting that, you can see there are four separate conditional orders that can be implanted. We got a one triggers another, one cancels another, first triggers OCO and a multi-link. We could probably spend the next 45 minutes really dissecting the pros and cons, but there really about automating the next step. When you make your orders, what you want to happen next? Let's take a quick look at one cancels another. One cancels another, let's walk through one quick scenario and how these are most effectively used. I like to think of this as may be you own a particular stock. Let's just say you already own 100 shares of SPY. I want to stick to my trading plan and keep emotion out of this so I can make clear judgements based on the risk reward factors that I've laid out. so where the OCO comes into play is that I've got two orders that I am placing, one can be on the top side to be where I expect this stock to go, and the second order could be on the bottom side with a particular stock price, to protect myself if the investment goes against me, so I'm not risking more money than I'm willing to lose. And this diagram that it shows us in the top left-hand corner really does a great job of explaining what this order is all about. And one cancels another being when the first order fills, the second order is going to be cancelled meaning you're not at risk of having two bills. We will use SPY, an S&P 500 ETF that is broadly held, it we are going to set this as our target.maybe we are willing to get out of this… We own 100 shares and we are looking to get out with profit. Let's just say we use our limit pricing and $445 is an exit point figures are from here. One thing important to understand here is this good till box. For both legs of this trade, the good till needs to be the same on both. We will choose good till cancelled. That would be90 days in the Canadian market place or hundred and 80 days in the United States market place. We will go ahead and select the OCO portion. We will quickly fill in our information. Make sure we have our selling here as well. And this is where we have the opportunity, for simple cities say, let's choose a stock market and say maybe goes down to 430. So we have a profit target of 445 on the downside. But if it goes down to 430 during the regular session, this will trigger an order to sell and you will be exiting our trade when our orders become active and don't forget about the good till. That just one example of a conditional order. Others have specific uses but it's a way to take control, a way to automate the process in keeping with that theme of the day, the smarter not harder approach. >> Thank you for that. Let's move to the next question from our viewers. Where can I see how many open contracts there are on a particular option? >> Yeah, great question. Just to keep in mind, the options are unique investment that are not suitable for all investors. To help bring people up the learning curves, we've talked about master classes, we teach option related content. If you are new to the game or looking to fine tune your options knowledge, please come join us in those master classes and we are there to support you as your learning journey evolves. But jumping into the platform, let's go ahead and and look at some option quotes to really identify what the option chain is telling us. So we are back looking at TD and this is, you can trade options on Canadian or US listed securities, depending on which is the right choice for you. But once again, these tabs running below the quote or options tabs. Second from the right, just next door the technicals was, that we were on just a few minutes ago. If we go ahead and choose the options tab, this brings us into an area where we can find quotes and liquidity information for calls that are listed on the left-hand side and puts that are listed on the right hand side. Without getting too much into the weeds with options because that would necessitate a much more in-depth conversation, we got our stray prices running down the middle of the screen as well as our specific option expiration dates that are available for you to choose for yourself running across the top. But if we really want to be focusing in… On the options themselves, the green line signifies the approximate price of the underlying investment. In this case, TD. Working from left to right, we've got our bid and our ask. For those that are familiar with trading stocks and ETFs, it's the exact same thing. We have our bid price which is the highest bid to buy specifically for this option contract and the ask is the lowest offer to sell and just like stocks and ETFs, you have your… That help identify the historical last trade on this particular option. But think about, as a question was asking, this is where the next two pieces of information come into play. The first is going to be volume. Volume is going to be updated through the day. This is the total number of trades that have happened on this particular contract. TD itself is traded 1.2 million shares. If we look down at these calls on the left-hand side, the $80 calls, they traded at 25 contracts, sue getting a sense of the liquidity and how actively is that particular option trading so we can identify that. But speaking to the number of open contracts, that's the next column over. In this particular case, we got 498. This is updated once a days even to the depth and size. How big is the pool that I'm swimming in with this particular strike and expiration date? in this case, 198 contracts were open on this particular contract at the start of the day today. And this will then get updated for tomorrow morning after today's trading activity ends this afternoon. >> Very insightful information. Of course, options carry greater risk than other asset types so always make sure to do your own research before making any investment decisions. Our thanks to Jason Hnatyk, Senior client education instructor with TD Direct Investing for joining us on the show today. >> Thanks for having me, Anthony. It was a pleasure. >> Stay tuned. On Wednesday, Jing Roy, portfolio manager with TD Asset Management will be our guest taking your questions about asset allocation. And reminder that you can get a head start. Just demote money talk live it to him. That's all the time we have for the show today. Take care. [music]