Placing an Options Trade

To Place an Options trade and open a new position

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1. Select the account
2. Click the new Trade button
3. Look up quote/symbol:
4. Select the legs
5. Set the price
6. Select the order type
7. Select the Time in force
8. Preview the order

Once you preview the order

and check that everything is ok

Submit the order

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Hello and welcome. Today we will show you how to place an order for multileg Options positions using the eDeltaPro Options Trading platform's visual interface.

First, you need to select the account. You directly choose a paper account or a real trading account.

Then, click the NEW ORDER button to access the eDeltaPro all-in-one trade ticket.

There select the symbol for the underlying you want to use. Lets' say, for example, that you want to use Apple. 

While there are many ways to start your workflow and develop your preferences, we suggest you start by selecting the expiration date. That way, any contract you choose after that will have that expiration date selected.

Next, build your strategy. You have two ways to accomplish that:

• You select the multileg strategy by using the menu on the bottom right.

• Whether a covered call or a simple Put Spread.
• A neutral strangle, straddle.
• Or an entire Iron Condor.

• Or add each Put and each Call, individually, one by one. 

• Please note that all the contracts you place at the top are long. You "Buy to Open".
• All Puts and Calls that you place on the bottom are short contracts. That is "Sell To Open".

By sliding the contract tab, you can select the Strike and change the Deltas of your strategy. 

Double click the handle at any time to see the Implied Volatility, Greeks, and other properties of the contract. Click to close.

Let's see this Call's details.

You now have built your complete Option strategy. 

We need to set up the price before we can submit the Order. First, select the order type. In this case, we will be placing a LIMIT order. Then select the price. The pricing component is an efficient way to price your Order. It shows you the Natural price, the Optimal, and the mid-price for the trade. We will place a trade at the mid-price and see if we get filled at that price.

The Order is now complete. We are ready to preview it. Note that the preview button at the bottom will be active only if you correctly filled out all the required fields required to place an order. Click the "Preview" button and review the order confirmation.  

In the Order confirmation, you will see the order summary with all the included contracts, all the strategy's legs. In addition, it will show you the Order's net cost or the net proceeds if you are short. You will also see the required capital for the Order. Once you review the Order confirmation, you click the TRANSMIT button to send the Order to be executed. 

That is it. You have placed an Order to open a new Options position. The order number will appear, and you can navigate to various parts of the platform.

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