Option Workshop blog #ui-prototype

Thursday, 15 September 2016

Strategy Templates Syntax

Strategy templates enable our users to design custom options spread templates. These spread templates can then be applied to any option series using the Spread desk.

Creating a strategy template

To open the strategy templates manager window, click on the strategy templates icon in the main menu.

The new updated main menu
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Tuesday, 23 August 2016

Strategy templates

With this post we are going to open a category of publications, where we write about our plans to implement new features into Option Workshop. We hope these posts will turn into a dialog with users, so everyone is welcome to comment about these post here at our blog, in our facebook and google plus pages or at the support portal/forum.

The need

There are different approaches to options trading. One of them is trading standard options combinations, like butterflies, vertical spreads and so on. Beginners can simply buy/sell one of these combinations with the hope that the price of the underlying will be within a profitable range. Advanced traders will manage the position over its lifetime. But both beginners and advanced traders need to find a convenient way to observe and discover the best opportunities to open any position.

Traders need a fast way to understand all of the following factors: the price, the greeks, the maximum profit and the maximum risk if they opens a spread at a particular strike.

Another need is the ability to create custom templates, for spread trades that are regularly put on. For example, some traders like to trade ‘standard’ butterflies that only have a one strike distance or ‘step’ between the leg and the center. Others trade a ‘wider’ butterfly with a 2 or 3 strike step between the wing and the core. With a custom template, it will be possible to specify the difference between the step, be it a 1, 2 or 5+ strike distance. Additionally, because of it’s flexibility, you could build the butterfly out of calls or puts, or any combination of both.

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