Options – Overview – Page 2 – Trade Tool Support

Entering a Position

You can enter a position to analyze by clicking on ‘Ask’ for buying or ‘Bid’ for selling. You can also directly enter the quantity in the entry box. (Note: make sure to indicate a selling position with a minus (-) sign).

For positions that include the underlying stock, such as Covered Calls, Protective Puts & Collars, enter the stock quantity in the upper right corner of the chain window.

You can change the click quantity amount by changing the default-click parameter (found at the top of the Option Table) for 1x, 5x or 10x.

by Support Team

Where are the Greeks?

You may come across instances on the Options Chain where Delta, Gamma, Theta & Vega fields are blank.

This occurs when the Extrinsic Value of the Option Strike Price is Negative. Negative numbers cannot be used to calculate the sensitivity of an option’s price underlying stock price changes, changes in volatility and passage of time.

Some platforms may place a ‘0’ (zero) vs. keeping the field blank. This is not entirely accurate, as ‘0’ is a valid number

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Go Big - Graphs & Charts

Anywhere you see the ‘Go Big’ icon , you can expand the graphic and access additional information.

The Chart Tab under Research has such a button in the icon toolbar as shown:

The Heat Map on the Market Tab will allow you to filter criteria such as stock price, volume, market cap, etc.

In the Options Tab, you can do this with the P/L Graph and the Volatility Chart. The icon is located at or near the upper right of the graph or chart.

Expanding the Stock/Volatility Chart allows you to view past Historic Volatility, Intrinsic Volatility and stock price on a day-to-day basis.

For deeper Trade Analysis, use the Volatility Slider tool and the Date Picker, located at the bottom of the P&L Graph:

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Profit/Loss Graphs

Any position entered in the Options Chain (Calls+Puts, Calls or Puts) will automatically display a profit/loss risk graph. The P/L Graph shows the Trade Profile Performance from the current day.

You can compare up to three (3) positions on one graph by utilizing the Camera Icons. Once you complete one trade scenario, click the first camera then click ‘New’. Structure your second trade scenario, click on the second camera. To add a third scenario, click new to structure an additional trade. The graphs will overlay.

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Trade from the Options Tab

Trading from the Options Table is easy!

When a position is set up on the Option Chain or from one of the Strategy Templates, simply click the “Trade” button.

The Position will be sent to the Order Ticket where you can further edit:

Adjust Price between “Mid” and “Nat”
Change Duration: Day or Good Til Cancelled
Change Order Type: Limit, Market, etc.
Click “Review” to confirm Order Details and Account are correct
Then “Submit” to send to brokerage.

by Support Team

Trading from the Option Template

From Template to trade is easy.

Simply click the “Trade” button on the Option Template and the Order Ticket will be filled in for you. This not only saves time, but eliminates order entry errors.

You can connect directly to select brokerage firms right from the platform and execute the trade.

by Support Team

Working Orders Displayed on Chart

Charts display working orders and existing positions of selected brokerage accounts, currently Choice Trade and TD Ameritrade. More brokerages will be forthcoming.