InvestingDaily.com

Account Information

  • My Account

    Manage all your subscriptions, update your address, email preferences and change your password.

  • Help Center

    Get answers to common service questions, ask the analyst or contact our customer service department.

  • My Stock Talk Profile

    Update your stock talk name and/or picture.



Close

Online Broker Tutorials

Investing Daily receives no compensation for recommending any brokers and simply offers these tools to help our new members get started.

Below are numerous videos and explanations on how to place option spread orders with various brokers.

The first four show Options for Income put credit spread trades being placed on four different online platforms (thinkorswim, TD Ameritrade’s main platform, Fidelity, and Ally/TradeKing). We also include a narrative for Interactive Brokers and a Tastytrade video link.

The last two show Options for Income call credit spread trades being placed on two different platforms (thinkorswim and Fidelity).

Even if you use a different broker’s trading platform, these videos will help you see how credit spread trades are placed.

 

1. See a put credit spread trade being placed
using TD Ameritrade’s thinkorswim trading platform:

 

2. See a put credit spread trade being placed
using TD Ameritrade’s main trading platform:

 

3. See a put credit spread trade being placed
using Fidelity’s trading platform:

 

4. See a put credit spread trade being placed
using Ally/TradeKing’s trading platform:

 

5. Read how to place a put credit spread trade
on Interactive Brokers trading platform:

There are many ways to enter an option order using IB. Here is one method that seems to be the most flexible and can be used for entering simple single-leg options or complex multi-leg strategies including credit/debit spreads and rolls. Any option trade that is permitted on IB can be done here, so you’ll only need to learn one interface.

Go to “Option Trader” in the Trader Workstation (TWS) module by selecting Trading Tools in the top menu. Or, in Mosaic, go to “Option Trader” via “New Window” (Top left, Blue button)/More Advanced Tools (very bottom)/OptionTrader.

Once in OptionTrader, left click the “+” tab (or left click on “Add tab” left, top) to add your underlying stock symbol to option trader. Select the “Strategy Builder” tab in the middle of the window. You can now build your individual legs by selecting the bid/ask price in the option chains below. If you don’t see the date/strike that you want, there are drop-downs in that section to add other dates/strikes. Left click on the Ask price (Blue when you mouse over it) to buy, Bid price (Red) to sell. If you choose the wrong one, don’t worry; you can correct that later.

Select the legs that you want (up to 4). If you make a mistake, you can adjust Buy/Sell, Date, Strike price, Call/Put in the “Legs” window before you transmit. Assuming “Order Confirmation” is turned on, you’ll get a pop-up with the details of your order, check that all is correct and hit transmit again to activate your order.

And, here are a few videos:

https://www.dailymotion.com/video/xmaukf_how-to-trade-credit-spreads-with-interactive-brokers_lifestyle

https://register.gotowebinar.com/register/7715013990373128963

https://www.interactivebrokers.com/en/index.php?f=14509

 

6. See a tutorial on how to use the Tastytrade order entry screen.

This video does not specifically show how to place an Options for Income trade, but it’s a good starting point. The instruction begins in earnest at about the 7-minute mark of the video. Beginners may wish to just manually enter their trade in the order ticket section at the bottom of the screen they show instead of clicking on the desired options legs. If you have further questions on how to enter a trade, contact Tastyworks.

https://www.tastytrade.com/tt/shows/tasty-extras/episodes/tastyworks-demo-order-entry-01-24-2017

 

7. See a call credit spread trade being placed
using TD Ameritrade’s thinkorswim trading platform:

 

8. See a call credit spread trade being placed
using Fidelity’s trading platform: