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Introducing: Option Order Entry
To find the Order Entry, click on the Main Menu icon up at the top left corner of your platform and then go to Trading. After that, load up the Order Entry and you will see that it looks similar to the image below:
Advanced Order Type Dropdown: This is where you can change between standard and advanced orders. Switch between Standard, OCO, OTO, OTOCO.
Expiration Dropdown: This shows you your current order expiration. If you click the dropdown you will see all expirations and have the ability to modify the order to different expirations.
Strike Dropdown: This shows your current strike price. If you click the dropdown you will see all available strikes and have the ability to modify the order to different strike prices.
Order Type: This shows your current order type and allows you to toggle between calls and puts.
Position Side: This shows you the orders position side, And allows you to toggle your position between buying and selling.
Position Effect: This shows you order Effect; Allows you to change the effect either to open or to close.
Quantity: This shows the number of contracts you are buying or selling with the ability to modify.
Order Type Dropdown: This shows you your current order type and if clicked, a dropdown menu will appearing showing Limit, Stop, Stop Limit and Market.
Limit Price: Adjust the premium of your option strategy.
Time in Force: Select between a day order or a Good-til-cancelled.
Towards the bottom of the Option Order Entry component, you will see a button that says Analyze Order. This will take you to an Option Analysis component on the platform if you do not have one loaded!