Master The Options Chain In ThinkOrSwim (ToS) | Trading Tutorials

Education

Introduction

Are you an options trader using the ThinkOrSwim (ToS) platform? If so, understanding and mastering the options chain is crucial for your trading success. In this tutorial, we will cover everything you need to know about the All Products tab in the ThinkOrSwim platform, focusing primarily on the options chain.

All Products Tab Overview

The All Products tab is located in the top left-hand corner of the ThinkOrSwim platform. It provides various information about the selected ticker, including the last traded price, net change, bid/ask prices, exchange, trading hours, and more. You can also customize the layout of this tab by clicking on the gear icon and selecting the components you want to display.

The Underlying

The Underlying section provides top-of-book information about the selected ticker, such as the last price, bid/ask sizes, volume, dividend yield, P/E ratio, beta, and more. You can customize the information displayed in this section by clicking on the gear icon and selecting the desired options.

Trade Grid Tab

The Trade Grid tab is a customizable chart window that can be added to your Trade tab in ThinkOrSwim. You can control the number of cells in the grid and the information displayed in each cell. This allows you to monitor multiple tickers and their related information, such as news, level 2 quotes, and more.

Options Chain Tab

The Options Chain tab is where most of the options trading action takes place. Here, you can view and analyze the available options contracts for the selected ticker. The options chain displays various information, including the expiration date, strike price, bid/ask prices, implied volatility, expected move, and more.

You can customize the options chain by using the various filters and settings available. For example, you can filter options by expiration date, strike price range, delivery type, and days till expiration. You can also change the layout to display additional information, such as the theoretical price, mark, delta, and more.

Options Statistics Tab

The Options Statistics tab provides valuable insights into the options market for the selected ticker. You can view statistics such as options volume, options sizzle index, call/put volume ratios, and more. These statistics can help you gauge market sentiment and make informed trading decisions.

Options Time and Sales Tab

The Options Time and Sales tab displays real-time trade data for options contracts. You can filter the trades based on various criteria, such as strikes, series, quantity, and price. This tab can be useful for analyzing options trades and identifying trends in the options market.

Product Depth Tab

The Product Depth tab provides a graphical representation of the options chain, showing the distribution of open interest and various option greeks. You can filter the display based on strike price, expiration, and options type. This tab can help you identify areas of high open interest and understand the dynamics of the options market.

Overall, understanding and mastering the options chain in ThinkOrSwim is essential for options traders. It allows you to analyze options contracts, monitor market sentiment, and make informed trading decisions. By utilizing the various features and settings available in the All Products tab, you can customize your trading experience and improve your trading success.

Keywords:

  • ThinkOrSwim
  • Options chain
  • Ticker
  • Underlying
  • Trade Grid
  • Options statistics
  • Options time and sales
  • Product depth
  • Filters
  • Customization

FAQ:

  1. How can I customize the layout of the All Products tab in ThinkOrSwim?
  2. Can I create custom spreads in the Options Chain tab?
  3. How can I filter options based on days till expiration or strike price range?
  4. What does the Sizzle Index represent in the Options Statistics tab?
  5. Is it possible to add additional information to the Options Chain tab, such as theoretical price or delta?
  6. How can I filter the Options Time and Sales tab to view specific trades?
  7. What does the Product Depth tab show in ThinkOrSwim?