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 is charged when covered put position is opened, then returned in first five working days in the next month.
5. If stock price is lower than strike price, the covered put may be exercised and stock is bought at strike price.

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 is charged when covered call position is opened, then returned in first five working days in the next month.
4. Commission free discount is exclusive to online trading and E-statement users.
5. If the stock price is higher than strike price, the covered call may 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.

1. This discount starts from 1 April 2021.
2. This discount is based on the amount of net asset (cash and option value only) on the settlement of last trading day. If amount of net asset exceeds HKD 1 million on last trading day, discount starts from the next trading day.
3. VIP discount is exclusive to online trading and e-statement users.

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.

1. This discount starts from 1 April 2021.
2. Given the same contract, based on the number of lots of buying and selling on the same day: Given the condition on the same contract and by using the total buy and total sell quantity within a day: If the smaller quantity from one of the two sides is not less than 50% of the other, the new day trading discount will apply.
3. Day trade discount is exclusive to online trading and e-statement users.
4. Commission discount is only applicable to stock option trades, not include Exercise/Assign fees.

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.

1. HK$ 5 per lot (Long Open contracts 10 lots or below), only applicable to long position opening and related liquidation.
2. Long position opening discount is exclusive to online trading and E-statement users.

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.

• Margin requirement is reduced by hedging, allowing clients to implement effective use of capital.

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1. This discount starts from 1 April 2021.
2. Commission discount is only applicable to stock option trades, not include Exercise/Assign fees.
3. This discount is exclusive to online trading and E-statement users.

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.