Options Strategy Builder

Use the Options Strategy Builder to build you own complex options trading strategies. Build and save strategies such as two-legged spreads or spreads utilizing options plus an underlying contract (such as a Covered Call, Protective Put, or Collar).

Create a Strategy

To start, click the + button, or the "Add Strategy" link on the left of the screen:

  1. Either enter a custom Strategy Name, or select a Strategy Type from the drop-down list.
  2. Click "Add".

Modifying Strategy Legs

All strategy legs are displayed in the center of the screen. You can add legs, change the instrument, and make changes to variables for each leg.

Simply click on the leg to expose the variables that you can change. In the example below, the Futures symbol ESZ2014 is selected.

  1. Right-click on the Symbol. You can either change the instrument, add a dependent option leg, or delete the leg.

  2. When selecting a Futures Instrument, the variables that you can adjust are shown on the right side of the screen. You may change the underlying price (or click the MKT button to insert the current market price). You may also change the position and quantity, if desired.

  3. When selecting an Options instrument, two sets of variables are displayed on the right side of the screen in tabs labeled "Basic" and "Advanced".

    In the "Basic" tab, you can change the leg type, underlying price (click the MKT button to insert the current market price). You can also change the quantity, exercise price and days to expiration, if desired.

  4. The "Advanced" tab (on the right side of the screen) allows you to change the Pricing Model, Option Style, Interest Rate, and calculate either Implied Volatility or Theoretical Price.
  5. As you change the variables, the Payoff Analysis chart and table also adjust.