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Page History: Option Strategy Solver

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Page Revision: 2016/03/15 16:12


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  1. Properties Opens the properties for the Option Strategy Solver. Click HERE for more information.
  2. Flip Buys and Sells Clicking this button will flip each leg of the current strategy from a buy to a sell or vice versa. The background color of this button indicates whether the spread order should be placed as a buy or sell in order to execute the legs on the chosen sides. For example, in the image above the button's background color is blue. This indicates that buying the covered put spread will result in buying the futures leg, selling the 1970 puts, and buying the 2010 puts, per the leg background colors.
  3. Pit Trade this Strategy Opens the pit trade submission ticket. Pit trades are fills that are entered manually as a result of busted trades, trades done in a pit, trades filled via a desk or any other fill that occurs outside T4. Click HERE for more information about the pit trade ticket.
  4. Clear All Legs Removes all legs from the Option Strategy Solver.
  5. Primary Strategy Template The default and most common strategy type for the selected legs.
  6. Secondary Strategy Template Alternate strategy template that may be selected after the desired legs have been added.
  7. RFQ Submits a Request for Quote (RFQ) for the desired strategy, if open. If the strategy is not yet open, this button will first create the User Defined Spread (UDS) at the exchange, then submit the RFQ.
  8. Strip Adds matching strikes from successive months up to the selected expiration. All legs of the strategy must be in the same Exchange, Contract, and Expiry to create a strip.
  9. Change Futures Feed Toggles between live underlying price (L) and the global price (G) for calculating option strategy values. The global price setting will always use the same price as the Option Sheet, while the live price will always use the live market price regardless of any adjustments made to the underlying in the Option Sheet.
  10. Save Strategy Saves the strategy to the Option Strategies window. See more information about the Option Strategies window HERE.
  11. Exchange Strategy Name This is the name the exchange uses for the strategy. In the image above, the exchange refers to the strategy as a Covered Vertical, while in our strategy template it is referred to as a Covered Put Spread. This section will always display the exchange name followed by the strategy template name in parentheses.

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  12. Delta
  13. Additional Greeks (Configurable via Properties)
  14. Bid/Offer Volume
  15. Bid/Offer Price
  16. Theoretical Value

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  17. Leg Quantity
  18. Decrease Leg Quantity
  19. Leg Description
  20. Futures Leg Delta
  21. Futures Leg Price
  22. Flip Leg Side
  23. Remove Leg
  24. Leg Theoretical Value

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