When available, you can create an Inter-Commodity Spread market data line. For example, you can create a "2 Year T-Note vs 5-Year T-Note" Inter-Commodity Spread market data line by entering the symbol TUF into a Watchlist on Trader Workstation. Once you enter the symbol press Enter on your keyboard, find "2 Year T-Note vs 5-Year T-Note" and click on "Inter-Commodity Spreads". If you do not see the option, expand the contextual menu by clicking on the small circle at the bottom of the pop-up menu. The Combo Selection window will open displaying the available Inter-Commodity strategies. Select a strategy and click Add and OK. You can now create an order from that market data line.
How do I create an order using an Inter-Commodity Spread?
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How do I place a GTC order for a spread?
When creating a spread in Strategy Builder, you will see the Order Entry line at the bottom of the window. The system will default to a DAY order. Click on the drop down menu that says "DAY" and select "GTC" from the list. You can now transmit your order as a Good Til Cancel order…
How do I create a bracket order (OCA) for an existing position in Classic TWS?
You can create a bracket order (OCA) for an existing position by adding the OCA Group column to your TWS. Right click on the tab header and select Layout. Make sure you are on the Order Columns tab and find the Order Attributes section on the right under Available Columns. Click the green plus sign (+) to expand the section. Click OCA Group and click the Add button in the middle. You should now see the OCA group column on the left side under Shown Columns. Once finished, click the Apply and OK buttons at the bottom of the window…
How can I tell whether my option is in-the-money or not after a corporate action?
If you have an option position and there is a corporate action the Options Clearing Corp (OCC) will adjust the open option contracts to reflect the change in the underlying. You can see the value of an "Adjusted Basket" underlying by adding the OCC's new symbol your trading screen. As an example the OCC adds a number to the stock symbol so after a corporate action UVXY would change to an adjusted basket symbol UVXY1. You can then create a market data line for the new adjusted basket symbol to see if your option is in the money or out of the money. Add the new adjusted basket symbol like UVXY1 to a watchlist then select Stock from the contract selection menu pop up. A window will populate explaining that this is an indicative value calculated from the components of the adjusted option contract and is provided on a best efforts basis. Click OK to close the window. You will now see a market data line with the indicative value displayed in the "Last" Price column…
How to create duplicate orders when getting the "Large Order Size" message in Classic TWS
When you get the Large Order Size message you may not want to take the time to create and then edit additional individual orders. You can use the "Create Duplicate" feature in Classic TWS to create these orders for you. To use the "Create Duplicate" feature, start by creating a new order in Classic TWS and adjust the amount to a smaller quantity that will be accepted. Right click on the order row and select "Create" from the pop up menu (you may have to expand the menu by clicking on the small circle at the bottom). Select "Duplicate" from the side menu. This will create another separate order with the identical order details. After creating additional identical orders, you can transmit all of the orders at one time by going to the top of Classic TWS and clicking on the "Trade" menu followed by Transmit and "Transmit All Orders on Page" (or any of the other available choices). Please note, you can also use the "Create Duplicate" feature when right clicking on an order row for an open working order. …