{"id":198107,"date":"2023-10-24T12:21:18","date_gmt":"2023-10-24T16:21:18","guid":{"rendered":"https:\/\/ibkrcampus.com\/?post_type=trading-lessons&p=198107"},"modified":"2024-03-27T12:01:06","modified_gmt":"2024-03-27T16:01:06","slug":"student-trading-lab-options-specific-tools-and-services","status":"publish","type":"trading-lessons","link":"https:\/\/www.interactivebrokers.com\/campus\/trading-lessons\/student-trading-lab-options-specific-tools-and-services\/","title":{"rendered":"Options-Specific Tools and Services"},"content":{"rendered":"\n

The IBKR Student Trading Lab<\/a> offers a wide array of options trading and analytical tools<\/a>, available in the IBKR Trader Workstation (TWS), along with other platforms we\u2019ve mentioned \u2013 such as IBKR Mobile. In this lesson, we\u2019ll outline some of our more popular options tools, as well as guide you towards specific Traders\u2019 Academy courses<\/a> that will help you learn what options are, how to use them in different trading strategies, as well as provide you with stepwise video lessons that will help get you up and running with the tools in our platform.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

A Brief History<\/strong><\/p>\n\n\n\n

Interactive Brokers is well-known for its innovative options tools and resources. In fact, the history<\/a> behind the company\u2019s specialization in this area can be attributed to its current chair and founder Thomas Peterffy, who in 1977, purchased a seat on the American Stock Exchange, became a member, and traded as an individual market maker in equity options \u2013 with a vision to independently employ his own algorithms to profit from market pricing inefficiencies.<\/p>\n\n\n\n

As Peterffy anticipated the rise of electronic trading, and the demise of floor trading, he aimed to provide technology to professional individual investors wanting to trade on the same terms as market makers.<\/p>\n\n\n\n

Indeed, since its inception, and throughout its history, Interactive Brokers Group has held true to its mission \u2013 that is:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

IBKR Offers Several Tutorials to Help Better Understand Options!<\/strong><\/p>\n\n\n\n

While Interactive Brokers provides a wealth of advanced options tools, students just starting out learning about these often complex trading products can familiarize themselves by taking our Introduction to Options<\/a> course on Traders\u2019 Academy, as well as learn about different option strategies \u2013 from beginner<\/a>, to increasingly more challenging levels<\/a>.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Moreover, with our TWS Option Tools<\/a> course, participants in our Student Trading Lab can learn to use several of our more popular resources, starting with Accessing Option Chains in Mosaic<\/a>, which covers how an option chain displays each expiration\u2019s calls and puts and allows users to choose from a list of data columns, such as the Greeks or Implied Volatility Percentage.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The Option Chain also has a strategy builder embedded in it to easily build multiple leg combinations, and there\u2019s a lesson on this, as well.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Moreover, TWS users can launch the Option Chains and save it permanently to a custom page or download the Option Trading page from the TWS Layout Library<\/a>.<\/p>\n\n\n\n

Stocked-up Toolbox<\/strong><\/p>\n\n\n\n

Probability Lab<\/strong><\/p>\n\n\n\n

Interactive Brokers offers several options-related analytical tools in TWS \u2013 with the IBKR Probability Lab<\/a> among the most popular.  The Probability Lab<\/a> analyzes how the market believes certain outcomes will occur and illustrates it as a probability distribution. This tool can be used to locate potentially profitable trading strategies for stocks and options, based on a participant\u2019s view versus the market.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Option Strategy Lab<\/strong><\/p>\n\n\n\n

Another useful tool to find and evaluate option strategies<\/a>, based on either price or implied volatility, is the IBKR Option Strategy Lab<\/a>, which enables its users to create and evaluate strategies by entering price, or implied volatility, assumptions through a stock options expiration date.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Performance Profile<\/strong><\/p>\n\n\n\n

Also \u2013 prior to trading an individual option or a combination \u2013 consider using the TWS Performance Profile<\/a> if you want to see an estimate of your potential profit and loss leading up to expiration. This tool lets participants see the effects on their P&L, as well as Greek values.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Volatility Lab<\/strong><\/strong><\/p>\n\n\n\n

Traders will understand that options pricing is affected by several factors, including the price of the underlying, interest rates, and volatility<\/a> \u2013 which is a metric for the speed and movement of the underlying asset and, with all things being equal, such as strike price & underlying price, the higher the volatility \u2013 the higher the price of the option. Participants using IBKR\u2019s Volatility Lab<\/a>, can see historical and implied volatility readings for a stock and its options, and visualize them over time. They may also compare them to other stocks and ETFs, and, here, they can also view volatility skew.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Risk Navigator – Using Custom Scenarios<\/strong><\/p>\n\n\n\n

And, as mentioned in our previous lesson on Resources for Fundamental Analysis, IBKR\u2019s Risk Navigator is a powerful tool that has many features to help manage risk \u2013 options included. To further explore details on calculating forward prices for single options and combinations, participants can use the Risk Navigator Custom Scenario<\/a> function.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Learn more in the Performance Profile for Options<\/a> lesson of the TWS Option Tools<\/a> course, and for more on how to use the Risk Navigator for options, watch Using Risk Navigator – Calculate Forward Prices for a Single Option and Option Combinations<\/a>.<\/p>\n\n\n\n

TWS Options Write \/ Rollover<\/strong><\/p>\n\n\n\n

IBKR also offers the TWS Options Write \/ Rollover Tool<\/a>, which may be used to sell calls against long stock positions and sell puts against short stock positions. This tool, which can also roll expiring option positions to a further expiration date, is further detailed in our Traders\u2019 Academy course.<\/p>\n\n\n\n

So, if you\u2019re looking for an extensive toolkit to help you trade and study options, with all of IBKR\u2019s options-related resources, we\u2019ve got you covered!<\/p>\n\n\n\n

More to Come<\/strong><\/p>\n\n\n\n

Meanwhile, IBKR also offers other critical resources that can help educators and students analyze and manage their portfolios, perform custom reporting, as well as access specialized tools and services — and these we\u2019ll explore in our next lesson.<\/p>\n\n\n\n

We\u2019ll look forward to seeing you then.<\/p>\n","protected":false},"excerpt":{"rendered":"

By participating in the IBKR Student Trading Lab, educators and students will find a treasure trove of useful tools and services to help them trade and study options. This lesson provides an overview of those options-specific resources and examines why IBKR is a \u2018go-to\u2019 specialist in this area. <\/p>\n","protected":false},"author":3,"featured_media":198108,"parent":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"contributors-categories":[13576],"traders-academy":[13125,13128,13132],"class_list":{"0":"post-198107","1":"trading-lessons","2":"type-trading-lessons","3":"status-publish","4":"has-post-thumbnail","6":"contributors-categories-interactive-brokers","7":"traders-academy-beginner-trading","8":"traders-academy-level","9":"traders-academy-trading-lesson"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nArchives | Traders' Academy | IBKR Campus<\/title>\n<meta name=\"description\" content=\"This lesson provides an overview of options-specific resources and examines why IBKR is a \u2018go-to\u2019 specialist in this area.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/trading-lessons\/198107\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Options-Specific Tools and Services | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"This lesson provides an overview of options-specific resources and examines why IBKR is a \u2018go-to\u2019 specialist in this area.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/trading-lessons\/student-trading-lab-options-specific-tools-and-services\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-27T16:01:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/STL-07-options.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t \"@context\": \"https:\\\/\\\/schema.org\",\n\t \"@graph\": [\n\t {\n\t \"@type\": \"WebPage\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-lessons\\\/student-trading-lab-options-specific-tools-and-services\\\/\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-lessons\\\/student-trading-lab-options-specific-tools-and-services\\\/\",\n\t \"name\": \"Options-Specific Tools and Services | IBKR Campus US\",\n\t \"isPartOf\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t },\n\t \"primaryImageOfPage\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-lessons\\\/student-trading-lab-options-specific-tools-and-services\\\/#primaryimage\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-lessons\\\/student-trading-lab-options-specific-tools-and-services\\\/#primaryimage\"\n\t },\n\t \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/10\\\/STL-07-options.jpg\",\n\t \"datePublished\": \"2023-10-24T16:21:18+00:00\",\n\t \"dateModified\": \"2024-03-27T16:01:06+00:00\",\n\t \"description\": \"This lesson provides an overview of options-specific resources and examines why IBKR is a \u2018go-to\u2019 specialist in this area.\",\n\t \"breadcrumb\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-lessons\\\/student-trading-lab-options-specific-tools-and-services\\\/#breadcrumb\"\n\t },\n\t \"inLanguage\": \"en-US\",\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"ReadAction\",\n\t \"target\": [\n\t \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-lessons\\\/student-trading-lab-options-specific-tools-and-services\\\/\"\n\t ]\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"ImageObject\",\n\t \"inLanguage\": \"en-US\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-lessons\\\/student-trading-lab-options-specific-tools-and-services\\\/#primaryimage\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/10\\\/STL-07-options.jpg\",\n\t \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2023\\\/10\\\/STL-07-options.jpg\",\n\t \"width\": 1920,\n\t \"height\": 1080,\n\t \"caption\": \"3d render of computer keyboard with CFD button. Stock market issue concept\"\n\t },\n\t {\n\t \"@type\": \"BreadcrumbList\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-lessons\\\/student-trading-lab-options-specific-tools-and-services\\\/#breadcrumb\",\n\t \"itemListElement\": [\n\t {\n\t \"@type\": \"ListItem\",\n\t \"position\": 1,\n\t \"name\": \"Academy Lessons\",\n\t \"item\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/trading-lessons\\\/\"\n\t },\n\t {\n\t \"@type\": \"ListItem\",\n\t \"position\": 2,\n\t \"name\": \"Options-Specific Tools and Services\"\n\t }\n\t ]\n\t },\n\t {\n\t \"@type\": \"WebSite\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t \"name\": \"IBKR Campus US\",\n\t \"description\": \"Financial Education from Interactive Brokers\",\n\t \"publisher\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t },\n\t \"potentialAction\": [\n\t {\n\t \"@type\": \"SearchAction\",\n\t \"target\": {\n\t \"@type\": \"EntryPoint\",\n\t \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t },\n\t \"query-input\": {\n\t \"@type\": \"PropertyValueSpecification\",\n\t \"valueRequired\": true,\n\t \"valueName\": \"search_term_string\"\n\t }\n\t }\n\t ],\n\t \"inLanguage\": \"en-US\"\n\t },\n\t {\n\t \"@type\": \"Organization\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t \"name\": \"Interactive Brokers\",\n\t \"alternateName\": \"IBKR\",\n\t \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t \"logo\": {\n\t \"@type\": \"ImageObject\",\n\t \"inLanguage\": \"en-US\",\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t \"width\": 669,\n\t \"height\": 669,\n\t \"caption\": \"Interactive Brokers\"\n\t },\n\t \"image\": {\n\t \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t },\n\t \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t }\n\t ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Archives | Traders' Academy | IBKR Campus","description":"This lesson provides an overview of options-specific resources and examines why IBKR is a \u2018go-to\u2019 specialist in this area.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/trading-lessons\/198107\/","og_locale":"en_US","og_type":"article","og_title":"Options-Specific Tools and Services | IBKR Campus US","og_description":"This lesson provides an overview of options-specific resources and examines why IBKR is a \u2018go-to\u2019 specialist in this area.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/trading-lessons\/student-trading-lab-options-specific-tools-and-services\/","og_site_name":"IBKR Campus US","article_modified_time":"2024-03-27T16:01:06+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/STL-07-options.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/trading-lessons\/student-trading-lab-options-specific-tools-and-services\/","url":"https:\/\/ibkrcampus.com\/campus\/trading-lessons\/student-trading-lab-options-specific-tools-and-services\/","name":"Options-Specific Tools and Services | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/trading-lessons\/student-trading-lab-options-specific-tools-and-services\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/trading-lessons\/student-trading-lab-options-specific-tools-and-services\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/STL-07-options.jpg","datePublished":"2023-10-24T16:21:18+00:00","dateModified":"2024-03-27T16:01:06+00:00","description":"This lesson provides an overview of options-specific resources and examines why IBKR is a \u2018go-to\u2019 specialist in this area.","breadcrumb":{"@id":"https:\/\/ibkrcampus.com\/campus\/trading-lessons\/student-trading-lab-options-specific-tools-and-services\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/trading-lessons\/student-trading-lab-options-specific-tools-and-services\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/trading-lessons\/student-trading-lab-options-specific-tools-and-services\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/STL-07-options.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2023\/10\/STL-07-options.jpg","width":1920,"height":1080,"caption":"3d render of computer keyboard with CFD button. Stock market issue concept"},{"@type":"BreadcrumbList","@id":"https:\/\/ibkrcampus.com\/campus\/trading-lessons\/student-trading-lab-options-specific-tools-and-services\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Academy Lessons","item":"https:\/\/ibkrcampus.com\/campus\/trading-lessons\/"},{"@type":"ListItem","position":2,"name":"Options-Specific Tools and Services"}]},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"}]}},"_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/trading-lessons\/198107","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/trading-lessons"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/trading-lessons"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=198107"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/trading-lessons\/198107\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/198108"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=198107"}],"wp:term":[{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=198107"},{"taxonomy":"traders-academy","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/traders-academy?post=198107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}