Where Is It?
Platform tips from
the TOS Trade Desk
Orders for That
Tired of building the same trade? No problem.
FIGURE 1: Custom Template Order. Fire up an order from TOS (1), click the custom template
icon ( 2), give your template a name, and save it ( 3).
• What do you get that special person who
has everything? It’s a question most of us
ask ourselves this time of year (guys, in
case you forgot, Valentine’s Day is around
the corner). And if you’re single, this can
be one of the most daunting tasks you’ll
face. It once forced me to break up with a
girl before the holidays and make up with
her after Valentine’s Day. Here’s a slightly
Customized Order Template
This is the gift that keeps giving, and
they’ll have it for many expirations to
come. It’s particularly useful for the sweetheart who loves trading skewed butterflies.
If you’re someone who gets annoyed
every time you want to place an order for
that wild long trade on the SPX with the
four legs, a stop-limit price, good for the
day, on the CBOE, saving a custom order
template is now your best friend. And the
best thing about custom order templates is
that it’s a one-time deal and it only takes
1. Create an order.
2. Click the icon that looks like a little
puzzle piece on top of an old-school
floppy disc (Figure 1, step 2) in the lower
right-hand corner to the left of the
Delete/Confirm/Send buttons. (Work
with us here.)
3. When the “Save Custom Order Template” window pops up, name your template (Figure 1, step 3)—perhaps “Honey
Bunny’s Butterfly,” or “Pookie Bear’s
Back/Ratio.” You get the idea.
The great thing about custom templates is that the next time you need that
setup, you simply right-click on a bid/ask
in an option chain and you’ll see your customized order template option below the
standard ones—i.e., Stop and Stoplimit.
Click on it to adjust your strikes, quantity,
and price, and you’re off to the races.
Okay, so isn’t really a gift to your loved
one in the traditional sense, but you could
always recommend to that special some-
one that they open up a TOS account and
give him/her this article!
The information contained in this article is
not intended to be investment advice and
is for illustrative purposes only. Multiple-leg option strategies such as those discussed in this article will have additional
costs due to the additional strikes traded.
Be sure to understand all risks involved
with each strategy, including commission
costs, before attempting to place any trade.
Be aware that assignment on short option
strategies discussed in this article could
lead to unwanted long or short positions
on the underlying security. Customers
must consider all relevant risk factors,
including their own personal financial situations, before trading. Options involve
risk and are not suitable for all investors.
Supporting documentation for any claims,
comparisons, statistics, or other technical
data will be supplied upon request.