OptionStation Pro

Asset Panel

The first time you open OptionStation Pro the symbol.for SPY will display.You can then select another symbol. The next time you login, the last symbol you were looking at will display.

The Asset panel contains data relative to the selected underlying asset. This includes real-time prices, trading units, volume, and other pertinent information for assessing the financial instrument displayed. You can right-click on the Bid or Ask column in the Asset panel and select SELL or BUY to open the Order Bar. Your order will be automatically filled in and ready to trade. You can also use the Quick Trade Mode to bypass the Order Bar (see Using the Quick Trade Mode below for more information).

Enter a Symbol

Enter a symbol name (or description) in the Symbol box. A drop-down symbol lookup list appears beneath the box to help you find the symbol name, description, exchange, and asset type based on the characters entered. You can display up to 40 of your Most Recently Used (MRU) symbols at the top of the list (adjustable in the Settings panel). Press the Enter key to load data from the underlying asset into the Asset panel and display the option chains in the Option Chains panel.

VIDEO - Asset panel - Loading Underlying Symbols
Learn how to load the Asset panel with an underlying symbol.

Asset Panel Columns

Columns for the Asset panel can be added, removed, repositioned, copied to your clipboard, and exported to Microsoft Excel.

VIDEO - Asset panel - Customizing and Formatting Columns
Learn how to format columns in the Asset panel. For more information, see Formatting Columns.

Columns available for the OptionStation Pro Asset Panel:

Default columns

Description – The description of the underlying asset.
Symbol – The symbol of the underlying asset. In TradeStation, a (D) notation following the symbol indicates delayed data. This means that data used for the underlying asset is being delayed by the exchange.
Last – The last traded price of the asset.
Net Chg – The net change of the asset since the last daily close.
Bid – The current bid price of the asset. When you hover your cursor over the column, the text Sell appears. Right-click on the column and select Place Trade to open the Order Bar. Your order will be automatically filled in and ready to trade.
Ask – The current offer of the asset. When you hover your cursor over the column, the text Buy appears. Right-click on the column and select Place Trade to open the Order Bar. Your order will be automatically filled in and ready to trade.
High – The high price of the asset for the day.
Low – The low price of the asset for the day.
Volume – The number of shares traded so far in the current day. The Asset panel displays shares; the Option Chains panel displays contracts.
Position – The number of shares (+ for long and - for short).
Hist Volatility – The historical volatility of the asset, using the last 20-250 daily closing prices (adjustable in the Settings panel).

Other available columns

52 Wk High – The high of the last 52 weeks.
52 Wk Low – The low of the last 52 weeks.
Ask Size – The number of shares being offered for sale for the displayed symbol.
Bid Size – The number of shares being offered for purchase for the displayed symbol.
Close – The closing asset price from regular trading hours.
Expiration – The date the asset expires.
Mid – The mid price is the average of the bid and ask prices.
Net %Chg – The net change in percent since the last daily close.
Open – The opening asset price from regular trading hours.
Prev Close – The closing price from the previous regular trading session.
Prev Volume – The number of shares traded from the previous regular trading session.
Underlying Model Vol – The type and value of the volatility calculation that is used as the underlying volatility source for the options pricing model. Change the Underlying Volatility Source in the Settings panel.
VIX Volatility – The current volatility of the average implied volatility of the options in the options chain, using the CBOE Volatility Index (VIX) calculation.

VIDEO - Asset panel - Special Volatility Columns
Learn about three columns within the Asset panel that have special characteristics: Underlying Model Volatility, VIX Volatility, and Historical Volatility.

Placing a Trade

Right-click on the Bid or Ask column in the Asset panel and select SELL or BUY to open the Order Bar. Your order will be automatically filled in and ready to trade.

Using the Quick Trade Mode

To rapidly open, close, and roll trades using the Quick Trade Mode:

Check the box for the Quick Trade Mode in the Option Chains section of the Settings panel.
Hold down the Ctrl key and click on the Bid or Ask column in the Asset panel.
Depending on your preferences, the order will be sent with or without an order confirmation.

To enable/disable order confirms, from the TradeStation Menu bar, use the File > Preferences > TradeStation Order Entry menu sequence and select Options > Validations & Confirms.

Analyzing an Equity

To trade or analyze an individual equity, simply click on the Ask or Bid price from the Asset panel. The Theoretical Positions panel opens and displays the long (buy) or short (sell) equity.

From the Theoretical Positions panel you can send a Buy / Buy to Cover order or the Sell Short / Sell order for the stock leg to the order bar. See Placing a Trade from a Theoretical Position for more information. After the order is submitted to the order bar you can modify the order parameters (Order Type, Price, etc.) before placing the order. Once the equity order is placed, it appears on the Orders panel. After the order is filled, the positions will appear in the Real Positions panel.

VIDEO - Asset panel - Trading Shares of Equity
Learn how to trade shares of equity directly from the Asset panel using real-time bid and ask data.