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Creating Futures Spreads in TWS

Lesson 10 of 11

Duration 3:06
Level Beginner
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Accessing the Combo Selection Tool

Investors can easily create future spreads using TWS by using the Combo Selection tool. To access the Combo Selection tool the investor types the future symbol they would like to trade into the Order Entry Panel. For this example they will use ES and scroll down to E-mini S&P 500, choose Combinations and selects Future Spreads (Smart). The Combo Selection Tool will appear.

Sections of the IBKR Combo Selection Tool

The combo selection tool consists of three tabs: Multiple, Strategy, and Pair or Leg-by-Leg. For future spreads the investor will use the Multiple tab. In the top left-hand side is the symbol. To the right next to Type is FUT. If the investor wanted to trade a futures option spread, they could switch to FOP in the drop down. Continuing to the right the exchange and multiplier are listed.

Selecting a Spread in the IBKR Combo Selection Tool

Directly underneath the investor can choose between a calendar spread in which a buy order indicates that they are selling the front month and buying the back month, or a reverse calendar spread which is the opposite. On the left-hand side the investor can choose the front month then either pick the back month or duration to create a combination in the panel to the right. If the investor wants to select from multiple combinations, they can hold the control key and select multiple months for Front, Back, and Duration. In this example the investor chooses the March 15th, 2024, ES future for the front month and the June 21st, 2024, ES Future for the back month. To populate the Order Entry Panel, they click on the combination in the strategy pane to the right and click “OK”.

A message window may appear explaining an alternative way of entering the spread by using the symbols for each month.

Submitting a Futures Spread Trade in TWS

The spread will populate the Order Entry panel where the investor can choose between creating a buy or sell order by clicking on the bottom left-hand corner. In the middle of the panel, they can adjust the quantity, order type, price if applicable, and Time-in-Force. When the investor is ready, they can click submit and the order confirmation window will appear. Once the investor reviews the information and is satisfied, they can click Transmit to submit the order.

The order will populate the Activity panel and the investor may modify the order type, Time-In Force, and price or cancel the order if it hasn’t yet been filled.

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If you have a general question, it may already be covered in our FAQs. If you have an account-specific question or concern, please reach out to Client Services.

3 thoughts on “Creating Futures Spreads in TWS”

  • Julian Burridge

    How can I roll a futures contract in ibkr desktop? (not in TWS)

    • Interactive Brokers

      Hello, thank you for reaching out. At this time, this is not possible in IBKR Desktop. In the future, please submit specific suggestions and feedback directly in IBKR Desktop (speech bubble with thumbs-up icon).

  • Giovanni Di Stefano

    How it is possible to create a Spread Future order with 2 diffrerent currencies?

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Disclosure: Interactive Brokers

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Interactive Brokers, its affiliates, or its employees.

Disclosure: Displaying Symbols on Video

Any stock, options or futures symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

Disclosure: Futures Trading

Futures are not suitable for all investors. The amount you may lose may be greater than your initial investment. Before trading futures, please read the CFTC Risk Disclosure. A copy and additional information are available at ibkr.com.

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