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Interactive Options Course
Lesson 7 of 13
The Layout Library contains multiple pre-configured screens that can be added to TWS. Let’s open the Layout Library by selecting the plus sign in the bottom left-hand corner, select browse, then click on Options in the left-hand menu. These pre-configured layouts can be customized once added.
Let’s select the Option Trading layout. This layout contains several tools including Option Chains, Strategy Builder, and Implied Volatility Viewer.
On the top of the screen is the Option Chain. Select a recently accessed ticker or one from your Watchlist. Now you’ll see the option chain populate. The columns can be configured by clicking on the gear icon on the top right of the screen and selecting Layout in the left menu.
For option specific columns look in the Option and Greek Groupings.
Some useful columns to show on the Option Chain are: Implied Vol %, Position, Option Open Interest, Delta, Gamma, Theta. Click Ok when finished with your selections.
To enter a single option order simply hover over the bid or ask price and click. The option will populate the Order entry section from the option chain.
Directly below the Option Chain is TWS Strategy Builder. To turn on the Strategy Builder, click the toggle on the left-hand side. Once activated you can select a strategy from the right-hand drop-down menu. We’ll choose a straddle and will click on a leg to apply it. See the Strategy Builder and the Order Entry panels populate. If you want to trade at a later time, you can always add the option or spread to your Watchlist. And to start over just click Clear All Legs.
See our lesson on using the Strategy Builder for more details. Continuing to the bottom left-hand corner is the Implied Volatility Viewer. You can chart the volatility of each expiration through this tool as well as access the 3D volatility viewer.
Continuing toward the bottom center of the screen is the Order Entry and Activity panels so that you never have to leave the Option Trading Layout to submit or track your orders.
In the right-hand corner is the Monitor panel. You can view your Portfolio and access all the Watchlists you created in Mosaic. The tiles use the same color grouping so when a symbol is selected, you’ll see the other tiles update with the selected symbol.
The Option Trading Layout is extremely useful if part of your trading strategy includes options. It offers a user friendly and logically designed screen which includes all the essential tools to monitor and trade options and option combinations.
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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.
Any stock, options or futures symbols displayed are for illustrative purposes only and are not intended to portray recommendations.
Options involve risk and are not suitable for all investors. For information on the uses and risks of options, you can obtain a copy of the Options Clearing Corporation risk disclosure document titled Characteristics and Risks of Standardized Options by going to the following link ibkr.com/occ. Multiple leg strategies, including spreads, will incur multiple transaction costs.
I have a Account. How does one shown BOTH a 10 month SMA and a One month SMA on a IAB Chart?
Hello, thank you for asking. Yes, it is possible to add multiple SMA on the same Advanced Chart or TradingView chart.
To add multiple SMA indicators to a chart in TWS:
Open the chart and click the ‘Settings’ gear icon.
In the ‘Indicators’ section, click ‘Add Indicator’.
Select ‘Simple Moving Average’ and configure the parameters as desired. Click ‘OK’.
Repeat steps 2-3 to add more SMA indicators with different parameters.
The selected SMA indicators will display on the chart. You can customize the display colors and styles as needed.
To remove an indicator, uncheck it in the ‘Indicators’ section.
We hope this helps!
Is it possible to set Strategy Builder in the Option Chain on by default?
Hello, thank you for reaching out. Once the button for Strategy Builder is toggled on, it should stay on until you return to the page and modify the settings. We hope this helps!
I cant find the option to auto center the option chain like in Webull or think or swim. Is there an way to toggle autocenter the option chain on the present price of the underlying?
Hello Tom, thank you for reaching out. It will not auto-center, but tab view has a color line where the stock is priced. If you have a specific suggestion(s) on how we can improve, we would like to hear it! Please review this FAQ on where you can leave your feedback: https://www.ibkr.com/faq?id=32653353
You can also post in the Feature Poll in Client Portal where other IBKR users can comment and vote: https://portal.interactivebrokers.com/portal/#/suggestions
We hope this helps.