Order Entry Preferences - Options - Trading

Use the Options - Trading dialog to set the default settings for regularly used values and order execution selections when placing Options orders. This section will provide the flexibility in setting the preferences for regular session, outside regular session, quantity, and price. In addition, you will be able to enable short selling from the order bar as well as set the preferences for the OCO/OSO settings.

 Access using the Desktop File > Preferences > Order Entry menu sequence and select Options > Trading.

Order Type/Route/Duration

Controls the default values that are inserted into the matching Trade Bar fields when you click the Default button on the Trade Bar or when the Trade Bar is first created. For windows with a Trade Bar, the default settings apply when a window is created. You can choose the default values for the Order Type, Route, and Duration boxes.

  • Order Type - Select the order type that will be displayed in the Order Type field of the Trade Bar when Default is clicked.  
  • Route - Select the order route type that will be displayed in the Route field of the Trade Bar when Default is clicked.
  • Duration - Select the order duration that will be displayed in the Duration field of the Trade Bar when Default is clicked.

Quantity  

Controls the default settings for the quantity values used in the Trade Bar fields when the Trade Bar or associated window are first created. These values will not automatically change when the Trade Bar is updated or when switching from regular to outside regular sessions.   

  • Fixed Contracts(#) - Select to specify that the order quantity will represent the number of contracts for the order.
  • Dollars per Trade($) - Select to specify that the order quantity will represent the approximate currency value of the order. The number of contracts to purchase is calculated based on the current bid/ask price.
  • Amount - Type the value (contracts or currency) that will displayed in the Quantity field of the Trade Bar when the Trade Bar or Matrix window is first created. You can also use the Amount arrow and buttons to increase or decrease the value. Separate values may be entered for contracts and currency.
  • Increment - Select an increment value from the drop-down list for the amount (contracts or currency) to increase or decrease each time you click the Trade Bar Quantity arrow and buttons. 
  • Acceleration - Select an acceleration value (contracts or curerncy) from the drop-down list for the amount that you want the quantity to increase or decrease when selecting the arrow and buttons.

Price  

Controls the default settings for the price values used in the Trade Bar fields when the Trade Bar or associated window are first created. As with the Quantity section, the values will not automatically change when the Trade Bar is updated or when switching from regular to outside regular sessions.

  • Increment - Select an increment value from the drop-down list for the amount that you want the price to increase or decrease each time you click the Trade Bar Limit Price arrow and buttons.  
  • Acceleration - Select an acceleration value from the drop-down list for the amount that you want the price to increase or decrease when selecting the arrow and buttons.

OCO/OSO Settings

The Preferences button controls the OCO/OSO Preferences dialog for Equities, Options, andFutures. This includes customizing the OCO/OSO template settings.

 Click OK to apply changes or Cancel to exit without changes.

Related Topics

Setting Order Entry Preferences

About Trade Bar