Platform Features Release: Trade from the Chart, Price Slices, Reset Virtual Account Options
Announcing the latest Release of feature and functionality enhancements to the trading platform to improve the position evaluation process, trade submitting process as well as offer additional practice account settings:
Price Slices: Evaluate theoretical outcomes of option positions when using the Strategy Templates.
Trade from the Chart: Use the control box or lines on Chart to adjust the entry point, Target Price and/or Stop Price.
Reset Virtual Account – Add ‘funds’ to an existing account OR reset everything and start fresh. You decide.
Price Slices (Premium Feature)
The Button appears on the right side of the screen when using the Strategy Templates.
Select one of the 22 Option Strategy Templates.
Build the position.
Click the Price Slices button to start your evaluation
Change the Date (default ‘today’), Price levels and/or % Offset
Add IV to view how this affects the theoretical P/L
Click the Go Big icon to view additional Greek data
Trade from the Chart
The button appears at the top of the chart for any symbol – whether there is an existing position or not.
Clicking this button activates an Order Window on the Chart, like this:
Note: Buy, Profit and Stop Loss line colors will match those displayed on the chart itself.
The values in the Order Window can be manually adjusted by $ or %
The values can also be dynamically adjusted by moving the corresponding line(s) on the Chart itself.
The Quantity value default is “1” to show the ‘per share’ dollar and percentage estimated risk, reward, as well as Position Total.
Click “Trade” for the prefilled Order Ticket to display.
The Order Ticket can be further adjusted, Staged or Reviewed to ensure it’s completed to your satisfaction, then Submitted.
Note: The brokerage selected must support Bracket Orders if the Stop/Stop Limit values are selected on the Order Window
Reset Tradier Virtual Account – 2 options
Tradier’s Virtual Account gives you the ability to add more “Cash” to your practice account – OR – completely start over:
On the account summary page, click “Reset Virtual Account”
Select “Balance Reset Only” – to keep your existing trade activity, but add more “cash” to your virtual account.
Select “Complete Reset” – if you want to remove all prior transactions, including Journal Entries, Gains, Orders, Positions, etc. Note: This selection cannot be undone once it’s processed.
Type RESET in the box provided, then click the “Confirm” button
Enhancements
- ATM Option Strikes are bolded for easier identification
Change Log
- Adjusted theme contrast
- Corrected Order Type Limit price entry
- Snapshot functionality restored
Virtual Account Buying Power Calculations
Virtual Account Buying Power Calculation
This is an example of how Buying Power is calculated. Check with your broker for specifics on your real accounts.
Margin
All margin accounts are subject to a $2,000 minimum equity requirement. ChoiceTrade requires $25,000 in account equity for naked put writing and $100,000 for naked call writing. Please click here to read our Risk Disclosure for important information regarding daytrading rules. Please see the terms of ChoiceTrade's Margin and Options agreements.POSITION | INITIAL MARGIN | MAINTENANCE MARGIN |
Long Stock | 1. 50% of the purchase price of marginable securities 2. 100% of the purchase price of non-marginable securities $2000 minimum margin account equity for all margin transactions $500 minimum cash balance required for Bulletin Board and OTC Market Stocks |
1. 25% of the current market value of the long securities positions in marginable securities. 2. 100% of the current market value of the long securities positions in non-marginable securities; See Special Notes below |
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Short Stock | The greater of: 1. 50% of the sale price of marginable securities; or 2. $5.00 per share $2000 minimum margin account equity for all margin transactions |
1. For marginable securities priced $2.50/share and under: $2.50/share 2. For marginable securities priced $2.51 to $5.00 per share: 100%. 3. For marginable securities priced $5.01 and above: greater of 50% or $5.00 per share. See Special Notes below |
Long Calls or Puts | 100% of the cost of the options. | 100% of the current market value of options. |
Short Uncovered Calls | The greater of: 1. 100% of the option proceeds plus 20% of the underlying stock less any amount the option is out-of-the-money; or 2. 100% of the option proceeds plus 10% of the underlying stock $100,000 minimum margin account equity |
The greater of: 1. The current marked-to-market value of the option plus 20% of the underlying stock less any amount the option is out-of-the-money; or 2. The current marked-to-market value of the option plus 10% of the underlying stock |
Short Puts | The greater of: 1. 100% of the option proceeds plus 20% of the underlying stock less any amount the option is out-of-the-money; or 2. 100% of the option proceeds plus 10% of the strike price. $100,000 minimum margin account equity |
The greater of: 1. The current marked-to-market value of the option plus 20% of the underlying stock less any amount the option is out-of-the-money; or 2. The current marked-to-market value of the option plus 10% of the strike price |
Short Covered Calls | None required on short call. | None required on short call. |
Debit Spread | 100% of the net debit | 100% of the current market value of the position. |
Credit Spread Market Orders |
Value of the difference between the strike prices $2,000 minimum margin account equity |
The lesser of: 1. Value of the difference between the strike prices of the vertical or; 2. The maintenance margin requirement of the short call or put |
Credit Spread Limit Orders |
Value of the difference between the strike prices less the credit to be received $2,000 minimum margin account equity |
The lesser of: 1. Value of the difference between the strike prices of the vertical or; 2. The maintenance margin requirement of the short call or put |
Long Butterflies/ Condors | 100% of cost of butterfly or condor. | 100% of current market value of butterfly or condor. |
Short Butterflies/ Condors | Initial margin requirement of the short vertical of the butterfly or condor. | Maintenance margin requirement of the short vertical of the butterfly or condor. |
Long Straddles/ Strangles | 100% of the cost of the straddle or strangle. | 100% of the current market value of the straddle or strangle. |
Short Straddles/ Strangles | The initial margin requirement for the short put or short call, whichever is greater, plus the premium of the other option; $100,000 minimum margin account equity |
The maintenance margin requirement for the short put or short call, whichever is greater, plus the premium of the other option; |
Long Call or Put Calendar Spreads |
100% of the cost of the calendar spread. | 100% of the current market value of the calendar spread. |
Short Call or Put Calendar Spreads |
Initial margin requirement of short call or put; $2,000 minimum margin account equity |
Maintenance margin requirement of short call or put; |
Special Notes Volatile Stock Requirement: Some stocks deemed to be volatile may be held at a higher requirement. New Issues: Generally, newly issued stocks have a 100% initial and maintenance requirement for the first 30 days of trading Leveraged ETFs: Minimim cash requirement for long positions: 2X ETF (200% Leveraged) = 50% 3X ETF (300% Leveraged) = 100% Minimim cash requirement for short positions: 2X ETF (200% Leveraged) = 60% 3X ETF (300% Leveraged) = 100% |