Trade Page Overview (tastyworks web)
Here is a breakdown of what you can find on our tastyworks-web trade page (trade.tastyworks.com). This article is broken down into different sections, as well as button by button. Feel free to reach out to firstname.lastname@example.org with any questions!
To jump to section 1, Symbol Entry, click here.
To jump to section 2, Underlying Stats, click here.
To jump to section 3, Quick View Bar, click here.
To jump to section 4, Strategies Menu, click here.
To jump to section 5, Single Orders, click here.
To jump to section 6, The Toolbar, click here.
To jump to section 7, Curve View, click here.
To jump to section 8, Settings Bar, click here.
To jump to section 9, Trade Scorecard, click here.
To jump to section 10, Filters, Etc., click here.
To jump to section 11, Price & Order Type, click here.
To jump to section 12, Order Summary, click here.
To jump to section 13, Review & Send, click here.
Section 1: Symbol Entry
Symbol Entry: Use this form field to change the symbol you are trading with. When launching the trade panel from certain places in the app, this field will be pre-filled with the symbol relevant to where you clicked. The blue ribbon indicates a notable stock, and the blue ribbon with an E indicates the underlying has earnings coming up.
IV Rank: The number inside the circle here is the IVRank and puts context around the current leval of implied volatility. You'll be selling high IV the tastytrade way in no time! You can change the IV Rank type you are seeing by clicking the circling and switching between 52-week, 30 days, 60 days, and 6 month rank!
Section 2: Underlying Stats
Last Price: Shows the market price of the underlying you are currently viewing on the trade page.
Net Chng: Shows the dollar amount change on the day. A red number means it is down, and a green number means it is up.
Low/High:These numbers show you how high the stock got today, and also how low it got.
Section 3: Quick View Bar
Go back to the top of the page
To jump to A, click here
To jump to B, click here
To jump to C, click here
To jump to D, click here
To jump to E, click here
To jump to F, click here
To jump to G, click here
A: Correlation Button: Indicated by the orange arrow, allows you to pull up the correlation study. Using the Expand button on the upper right, indicated by the orange box, will allow you to view a full screen of the correlation matrix in tastyworks.
To go back to the regular view, click Collapse. And to remove the matrix from the trade page all together, click the correlation button again.
B: Order Chains: (COMING SOON!)Want a quick peek at your order chains for the underlying you are looking at on the trade page? This will give you a snapshot of your order chains profile. Get a look at your current realized gain or unrealized by clicking the blue text in the orange box, as shown below.
C: Working Orders: Working hard for the money? Check out this snapshot of your current working orders.
D: Events: See upcoming expirations, and if there are earnings coming up for the underlying you are looking to trade! Earnings announcements are indicated o by the purple arrow, and details about the announcement can be seen at the bottom of the window.
E: Watchlists: These six stacked rectangles, allow you to check your watchlist as you put on a new trade!
F: Details:This quotation mark will give you the dirty details of what is going on in the underlying you are viewing, see why it is notable, price, volume, and volatility charts. Use the blue expand button to see a larger version of those charts.
G: Exit: Using this "x" will close out of the trade page and bring you back to the tastyworks homescreen.
Section 4: Strategies Menu
Strategies Menu: This menu will allow you to start putting some tastytrade strategies into action! Choose from a list of strategies that you will see regularly on the show! Find out how to use it here! Within the strategies menu, there is an advanced features menu, here's what you'll find!
A: Adjust the default number of days until expiration using the box with the up/down arrows or manually enter the number of days.To exclude a specific expiration cycle, use the radio buttons to include or exclude weeklys and monthlys.
B: Use the box to set a target ITM/OTM percentage on your trades by using the up/down arrows or manually entering the number. Or use the 1 SD/2 SD to enter it as a standard deviation.
C: This section allows you to control the default width of your spreads.
D: Restore your platforms settings to the original using this button.
E: If you have made updates to the advanced section, be sure to click "GO" to make sure they are set, and you can see them on the trade page.
Section 5: Single Orders
Singles: Like the strategies, but want to try setting it up on your own? Use these symbols to drag a call or put onto your trade table! Dragging one of these tiles on to your trade page will bring up the option chain and will allow you to see various expiration dates. It will also allow you to see days until expiration and implied volatility percentage, on the right hand side of the trade page, for that strike and expiration!
Section 6: The Toolbar
A. See how moving your strikes around with this button will change your probabilities! These buttons allow you to move the strike price up and down by one.
B. Allows you to change the width of your strikes.
C. Increase or decrease your contract size with the click of a button!
D. Looking to increase or decrease time until expirations? These buttons will allow you to move to different expirations.
E. CRISS-CROSS! Want to see what the trade would look like if you flipped it around? Then you're going to love this swap feature!
F. Didn't like a change you made to the trade page? Undo it! Realize you made a mistake and want to reverse it, redo what you just undid.
G. If you have had enough of the position you are looking at, clear it all with this button and start all over again!
Section 7: Curve View
A. This it the number of days until expiration.
B. This is the trade tile, it will show you all of the current information on that strike you have selected. The price, if you are buying or selling, and the expiration. Double clicking this tile will allow you to manually update any of this information, in the edit option that appears on the right hand side of the screen. Double clicking the tile will also reveal an "x" in the left hand side of the tile that will allow you to delete the leg.
C. This is the strike price bar, where all available strike prices can be seen for the underlying. The bar will also allow you to see the expected move of the underlying at earnings, this article will provide more information on the expected move.
D. These indicators tell you when a strike is In-The-Money (ITM) or the tear drop which means the strike is not liquid. For a full run down on what these icons mean, check out this article on ITM and this one on liquidity.
E. These blue radio buttons at the top of the page will give you messages to give you an idea of what may happen to the position on the trade page when the price of the underlying moves. Additionally, the radio buttons with the dollar sign within the trade page zones will tell you when the trade will be profitable or when the trade could lose money. To get these messages click the buttons, and click them again to have them disappear.
F. In this area there is a magnifying glass that allows you to zoom in and out on the trade page. Additionally, you will see a number with a "d" after it, which indicates the number of days to expiration. Next to that, you will see the implied volatility for that selected expiration.
Section 8: Settings Bar
A: Settings will allow you to adjust what you see on your trade page. Want to see the expected move or change the expirations you are seeing? This button will allow you to change those things.
B: The option chains button, will allow you to switch between standard options and minis.
C: These quotes allow you to change the strike data that is displayed on your trade page. If ask/bid isn't your bag, you can change it to any one of the other great settings that will allow you analyze your trade, including mid price, delta, theta, open int, and volume!
Section 9: Trade Scorecard
A: Probability of profit (POP) for the trade that is up on the trade page, refers to the probability that we will make at least $0.01 on any given trade. For more information on POP, check out this article.
B:Price will show you the credit you are getting for selling, or the debit you are paying for the option.
C:This arrow will allow you to pull up all kinds of neat analysis tools, to help you make a more informed trade!Get a snapshot of the trade, and see how this new position will effect your portfolio. Or what your probability of reach 50% profit is, and in what time frame. This little carrot has it all!
D:Tastyrade Return on Capital, calculated by taking the max potential profit (for a short position) and dividing it by the total amount of capital used. ROC is useful as it shows us how leverage enhances our returns.
E:Extrinsic value is the time & volatility value of an option.
F:Displays the bid/ask spread of your position.
Section 10: Filters, Etc.
A: Filter: The filter will allow you to change the flags you will see on the trade page if you have an exisiting position or working order in that underlying. You can filter them by expiration, position, working order, call, put, or stock. You can even choose to remove them from the trade page all together!
B: Trade Tile: Look familiar? This button will flip your trade tile over and show you the probability of that strike expiring ITM or OTM, along with the bid and ask.
C: Refresh: Update the page with this refresh button, to see if there have been any changes to the underlying that you are about to trade!
D: Add Entry: Is this trade one to remember? Add it to your journal, with one click this button will add the trade to your trade journal in the analyze tab.
Section 11: Price & Order Type
Price: Displays the credit being taken in, or the debit being paid for your trade. Credits are noted by cr and debits by db. Price can be adjusted by using the arrows within the box or manually typing in a price.
Order Type: Denotes the type of order that is being placed, wether it is for a net credit, net debit, or a market order.
Time-In-Force: Allows you to change the time-in-force from day orders, to GTC orders. If GTC is selected, you will be able to adjust the date in the field that is displayed below the TIF box. Make sure the date is moved out from the current day's date, or the order will be automatically cancelled!
Section 12: Order Summary
Summary: Screenshot of the trade that is up on the trade page, just a small reminder before you hit review and send!
Section 13: Review & Send
Review and Send: Pleased with the trade you've set up? Review and send will bring you to the review screen, where you can get a double take on that sweet trade you just set up.
If you have additional questions about something you are seeing on the trade page, please feel free to reach out to support with any questions!
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