How to Close Spreads on ThinkorSwim Desktop Platform
Вставка
- Опубліковано 3 лип 2024
- In this video we’ll learn how to close options spreads in the ThinkorSwim Desktop Platform. This includes closing out vertical spreads, butterfly spreads, and iron condors.
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Throughout this tutorial, we'll make heavy use of the 'Monitor' tab within ThinkorSwim, a feature that allows us to monitor all the activity in our account, from open and working orders to our current positions. We'll specifically go over how to manage positions on stocks like Apple, Google, and Microsoft, and we'll be sure to cover different types of spreads in each example.
Timestamps
0:00 Intro
1:15 Adjust settings for spreads
2:45 Closing vertical spreads
5:32 Closing butterfly spreads
7:58 Closing iron condors
10:22 Outro
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Hope this helps, but let me know if there's anything else you'd like me to cover!
Thanks for the video. I have a follow-up question: Is it possible to set up an OCO (One-Cancels-the-Other) order to close a spread? For example, after buying a spread, can I set up an OCO order where one is a sell limit order triggered when the spread reaches a target threshold, and the other is a sell order at any price to close the position on the day before expiration if the first order doesn't trigger? I'm considering this approach because I've heard stories of people forgetting to close a spread and running into issues where one leg gets exercised after market close, while the protective leg expires and can no longer be exercised to cover the other leg when the investor is notified about the exercise.
Outstanding explanation! The redundancy of showing how to close 3 trades really helps understanding something when you are new at it. I am going to watch all of your videos.
Awesome video. Thanks a million. The video was exactly what I have been looking for. It is straight to the point without wasting time.
Thanks so much! Great job explaining this step.
dude, I just found this account. These videos are literally EXACTLY what I've been needing! Keep it up man!
really like this video - thank you!
How to create stop loss for vertical spread?
Thank you so much for your content! I've learned so much from you!
Thank you Schwab just switched over to TOS and I was trying to figure out how to close these damn multi-leg strategies
Great content; this is exactly what I need. Thank you!
ecellent video thank you so much - i can now see all my orders based on the strategies i am using!
Love your channel.
very helpful !!! thanks
Well done. THank U :)
Could you go over a example chart entry exit for vertical spreads? I saw you did a BOLLINGER scan which was really interesting and wondered if that’s one of your main go to entries or what others you do. Thanks for the amazing videos!
My gf needs to learn how to Spreading...lol.hahaha
Can you pls do the same video for Fidelity Active Trade Pro platform. Thank you!
Thanks, good video! I have a question, though, I want to be able to close my vertical put spreads if the underlying hits my breakeven price. I can't find anything on this topic, I hope you can help. Kind of like a stop-loss on a vertical put. Thanks!
Nice
@shortthestrike How are you adding the long and short so quickly in TOS and circumventing the cumbersome BUY/SEL popup?
Hi, i loved the video. But what if you dont get filled? Will you modify your closing price (or mark)? Can you pls explain. Thank you
Please do a stop on a vertical spread
Thank you for this. I'm relatively new to TOS, and although I can see its power and control over Tasty (the platform I'm currently using), I find TOS really difficult to look at and decipher -- it's like one big brick of monochromatic, all capitalized text which makes it more difficult to make quick decisions or understand the impact of a particular action. Do you have any recommendations or secrets to customizing TOS (beyond bg colors, etc.) in a way that makes it more readable and user friendly?
Options commissions per contract are steep limits the viability of many stategies I prefer brokers with a flat commission or no commission I only use td for information
Nice job as usual you help allot of people