PLACE AN OPTION TRADE
To place a option-order directly in the chart, you simply open the right-click menu in the chart and choose „Buy Option“ or „Sell Option“:
OptionTraderBar
The TraderBars in the chart for option-orders have new properties, so you can select the option you want to trade directly from the TraderBar:
Strike selection
- If you click on the strike-price, a dropdown with all available strikes will open up – just select the strike you want to trade.
- IMPORTANT! The OptionTraderBar will always be displayed in the underlying instrument at the strike-price you select. So if you select a strike of 250.00, the OptionTraderBar will be shown at a price of 250.00 of the underlying. The strike price is the only real connection between the underlying and the option, therefore the underlying-price and the options‘ strike price are connected in the chart.
Expiry selection
If you click on the expiry-date, a dropdown with all available expiries will open up – just select the expiry you want to trade.
Stop price (for Stop-Orders)
This is the field on the most left side of the TraderBar, you can simply type in the price you want to be transmitted as Stop-price for your order.
Limit price (for Limit-Orders)
This is the field on the most left side of the TraderBar, you can simply type in the price you want to be transmitted as Stop-price for your order.
Stop and Limit price (for StopLimit-Orders)
For StopLimit Orders you can select the limit price in the „L:“ field and the Stop price in the „S:“ field.
Multiple TraderBars per chart
For OptionTrades from now on it is possible to see multiple active TraderBars in your chart – each strike price will have ist own TraderBar. On the right side of the TraderBar, you see exactly which option you are trading at this strike price at the moment.
Multiple trades on the same strike
If you open multiple orders/trades on exactly the same strike, the OrderBar will switch to MultiOrder mode - a button will appear on the left side of the OrderBar to unfold the order-view. By clicking on the button, all orders on this strike will be listed one below the other and highlighted with a blue background, indicating that all these orders/trades are placed on the same strike. Without this new display method, orders on the same strike would otherwise be overlayed and would no longer be manageable individually.
Proposal orders vs activated orders
Proposal orders work the same way as orders in all other asset classes in AgenaTrader. You can choose the strike, expiry, stop/limit prices until you are satisfied. Only when you press the green checkmark-symbol in the OptionTraderBar, the order is transmitted to your broker and is now an active open order.
Calculate Profit/Loss
Profit/Loss of option trades is calculated the same way as for all other trades in AgenaTrader: the P&L is calculated inside AgenaTrader with current bid/ask prices. If no bid/ask price is received from your datafeed, P&L can not be calculated and „0.00“ will be shown in the traderbar. Please always make sure that you control the displayed P&L with your brokers‘ plattform.
Mark-color in a ChartGroup
If you are net-long with option-trades (you bought more options than you sold for this underlying), the instrument will be marked with cyan color (long color for options) in a LCG. If you are net-short with option-trades (you sold more options than you bougth for this underlying), the instrument will be marked with purple background. For proposal option-orders the background color of a instrument in the LCG will be light-blue (same as for orders in other asset classes).
Cancel/Close an order/trade
Cancelling an order or a trade works the same way as for all other asset classes. If you click the red cross in the OptionTradingBar, an active order will be cancelled / an active trade will be closed by transmitting the closing (market) order automatically to your broker.