Option Wizard

Instructions

The Option Wizard allows investors to access over 30 market centers to trade options. This feature prompts the investor to answer a few questions on either the price or volatility associated with the stock and identifies some standard strategies based on the investor’s parameters. To access this, please take the steps outlined below.

  1. Click the Trade tab followed by Option Chain.

    • Alternatively, click Menu in the top left corner > Trade > Option Chain.

  2. Enter a symbol or contract name to get started.

    The Option Chain menu in Portal.

  3. Click the Option Wizard button.

    The option wizard button in portal.

  4. Click whether you'd like to predict:

    • The price will go up

    • The price will go down

    • The price will stay within a range

    • The price will go up and/or down by a certain amount or percent

    • Volatility will go up

    • Volatility will go down

    • Protect a Position

    The option wizard slect forecast in portal.

  5. Once you have selected your prediction, select Find Strategies.

    The option wizard find strategies in portal.

  6. Choose the time horizon in which you believe this event will occur.

    The option wizard select date in portal.

  7. Choose the price at which the asset will move. Click Next.

    The option wizard forecast criteria in portal.

  8. The Option Wizard will identify strategies that could benefit if the price of the underlying moves the same way as the investor believes.

    The option wizard strategies in portal.

  9. Click a desired strategy from the left hand side. The page will populate with the order. Click the Order button in the top right corner to Submit.

    The option wizard select a strategy option in portal.

 

Additional Resources