Use the Mosaic Roll Builder tool to roll a multi-leg option or stock/option combination position to a new expiry. If all or part of your existing multi-leg combination position is about to expire, or if you just prefer to open the position in another expiry, you can easily roll the entire, intact strategy using the Roll Builder tool. The full combination is routed to reduce execution leg risk, and may receive price improvement versus submitting the order using individual legs. And if a leg has become worthless and you prefer to let it expire, simply leave it out of the “roll into” construction.
To roll a multi-leg combo, select the combination position from your Portfolio, or from any Watchlist to which it was added, and from the right-click menu click the “Roll” button.
In the Roll Builder tool, the current multi-leg position appears at the top and shows each individual leg. For each highlighted leg of the combination, select the contract you want to roll into from the option chains displayed above the Roll Builder. For convenience, current legs are also highlighted in the Option Chains, in red for sells and blue for buys, and are marked with a filled-in circle. The new legs are identified by an empty circle.
As you build the new combination, it is shown below the current combo position in the “Open” section of the Roll Builder. As you add new legs to roll into, you can modify any element (action, ratio, last trade day, strike or type) by clicking in the desired field and selecting or entering a new value. When adding new legs, we pre-select the buy/sell action to logically match your original combination. Note that the ratio is always set to 1. Additionally, the order price is updated and the Margin Impact is shown in the Order Entry line. Click Margin Impact to also view the “Estimated Combo Premium,” “Estimated Existing Combo Premium,” and “Roll to Estimated Combo Premium.”
This tool is available for futures options, options and covered stock strategies that include up to four legs. Note that the maximum number of legs might be lower depending on the destination.
IBot, our natural text interface to trading, can now guide you through creating a powerful, custom Accumulate/Distribute algo through a series of simple questions. Accumulate/Distribute was designed to help traders buy or sell large quantities over time, minimizing market impact by submitting orders in smaller components, randomizing size and time.
To create an Accumulate/Distribute algo using IBot, simply enter an Accumulate/Distribute-relevant command, such as accumulate 2300 shares of IBKR" or "distribute 2300 shares of IBKR" or "buy 3000 shares of IBKR using accu/dist algo" etc. IBot will present a series of simple parameters for you to complete. You have multiple ways to provide order details to IBot when creating your algo:
At any time in the process, use the Preview Order list item to see the progress of your algo. When the algo order is complete, IBot presents a full summary of the order as you defined it. You can elect to Submit the order, Edit the order using the full Accumulate/Distribute interface, or Cancel the order. This feature is available in TWS for Mobile and through IBot on the Client Portal.
Please note that this feature is being rolled out to clients gradually. To find out more about IBot, visit the IBot feature page.
The Performance Profile sidecar can now be launched from within the Strategy Builder, and will reload as legs are added/removed from the strategy or ratios are changed. The Strategy Builder can be enabled at the bottom of the Option Chain tool by toggling it to On. Strategy Builder makes it easy to create multi-leg complex strategies that you can then add to a Watchlist and/or trade.
From within the Strategy Builder, open Performance Profile by clicking the "PROFILE" button at the bottom of the Strategy Builder, to the left of the "Add to Watchlist" button. Click the "Add to Watchlist" button to add the strategy to the bottom of the "Favorites" Watchlist.
We have also added additional data points to the Performance Profile, including:
See these and other data points in the Quote Details section of the profile.
Note that you can also access Strategy Builder from within the OptionTrader tool using the Strategy Builder tab.
In TWS release 969 we added support for real-time last tick data to the Time & Sales window for all products that support it, including stocks and futures worldwide. Now, the Multi-Contract mode in Time & Sales also supports real-time last tick data for those products that support it. All other products will continue to show real-time Time & Sales derived from the aggregated real-time volume.
If you prefer to use real-time aggregated/averaging of trades (approximately every 3-4 seconds) instead of tick-by-tick data for all products, go to Global Configuration > Information Tools > Time & Sales > Settings, and check "Always use real-time volume to approximate Time and Sales data."