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.

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

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.

Use SNAP to Backtest Positions

The Snapshot feature is also available with Backtesting.

  1. Click ‘Backtest’ on the Option Table
  2. Set up position
  3. Click one of the camera icons: 
  4. Repeat the first step using the Rolling Icons to adjust the initial position to a new scenario:
  5.  Click the 2nd camera icon & repeat the above steps for the last comparison.
  6.  Select the ‘Analyze Date’ using the Date Picker (Calendar) or “EXP” to analyze the position on Expiration Date. 

Trading from Options Page & Strategy Templates

Structure and analyze any options position.  When ready, click “Trade” to create and submit an Order Ticket.

Comparing trades with Snap?   

Simply choose the structure you want then select “Trade” to send it to the Order Ticket.

Trading multi-leg positions is easier than ever!

Options Chain Analysis

The Option Chain pages offers a 3-D analysis comparing expiration dates by selected criteria.

Click on “Chain Analysis” to display the graph.

Use the drop-down boxes to view the tables by Implied Volatility, Volume, Open Interest, Price, Extrinsic Value, Delta or Intrinsic Value.

Toggle the view by using the clickable legend to select the Expiration Dates to view.