Differences

This shows you the differences between two versions of the page.

--- desktop:option_strategy_solver [2025/03/18 17:26] – rob
+++ desktop:option_strategy_solver [2025/04/08 17:14] (current) – rob
@@ Line 44: / Line 44: @@
 ===== Option Strategy Solver Properties =====
-{{Image}}
+{{:desktop:oss_properties.png|}}
-**Sell Side Bias** \\
+. **Sell Side Bias** \\
 By default, option strategies are built with a buy side bias. Checking this box will reverse it and create new strategies with a sell side bias so that all theoretical values and Greeks are formatted as if the strategy is being sold.
-**Layout** \\
+. **Layout** \\
 Switch between stacked and side-by-side layouts. Stacked places the legs below the toolbar and strategy information, while side-by-side places the legs to the right.
-**Default Strategy Futures Price Scope** \\
+. **Default Strategy Futures Price Scope** \\
-**Strategy Futures Price Scope** \\
+. **Strategy Futures Price Scope** \\
-**Auto Apply Strategy** \\
+. **Auto Apply Strategy** \\
 By default, the 1st Strategy (primary template) is chosen for new option strategies as it is typically the most common. By choosing 2nd Strategy, the secondary template will be used instead. Choosing (none) will force manual selection of a strategy template for every new option strategy constructed.
-**Disable Confirms** \\
+. **Disable Confirms** \\
 Checking this box disables popups such as the confirmation window that appears when adding a futures leg.
-**Apply ABS** \\
+. **Apply ABS** \\
 Checking this box forces the Option Strategy Solver to display the absolute value of every theoretical value.
-**Show Market Price, Size, and Edge** \\
+. **Show Market Price, Size, and Edge** \\
 These can all be shown to the left and right of the strategy's theoretical value. By default, Price and Size are enabled. These values, when enabled, can all be used for click trading from the Option Strategy Solver.
-**Show Greeks** \\
+. **Show Greeks** \\
 Checking a box in this section will display the appropriate value in the Option Strategy Solver.
@@ Line 86: / Line 86: @@
 <WRAP center round info 100%>
 Important tip if after clicking yes if your theoretical price in exchange format is not green you need to rfq it to get that spread created.
+</WRAP>
+====== Pit Trade Ticket ======
+{{:desktop:oss_pit_trade.png|}}
+      - **Flip Buys and Sells** Clicking this button will flip each leg of the current strategy from a buy to a sell or vice versa. The background color of each leg indicates its side.
+  -     **Total Quantity** This is the total number of spreads to be entered. Note that the leg ratio cannot be altered from this ticket, i.e. a vertical cannot be adjusted to a 1x2. To adjust the leg ratio, click cancel and make the adjustment in the Option Strategy Solver. Note that any futures legs do not change when the total quantity is changed. To adjust the futures quantity, see number 3 below.
+  -    ** Adjust Futures Quantity** Click the up or down arrows next to the futures leg to adjust the leg quantity of the futures leg only.
+  -     **Account Selection** Choose the appropriate account from the accounts in this list before submitting the pit trade.
+  -     **Net Dollars for Strategy** The total dollar amount of the strategy, shown as either a debit (Dr) or a credit (Cr).
+  -     **Price of Strategy** The price of the strategy in ticks, shown as either a debit (Dr) or a credit (Cr).
+  -     **Leg Price** The price at which each leg will be entered in the order book. These can be adjusted using the up and down arrows on either side of the price. Note that changing leg prices will change the strategy price seen in number 6 above.
+  -     **Leg Side** Click B or S to change a particular leg to a buy or a sell, respectively.
+  -     **Submit** Click submit to add the pit trade to the account inventory. Pit trades do not ever hit the exchange or the clearing firm, they are simply manual fills entered as a result of busted trades, trades done in a pit, trades filled via a desk, or any other fill that occurs outside T4.
+  -     **Cancel** This will close the window without entering a pit trade.
+====== Debit vs Credit  ======
+This is an example of how to read the Debit vs Credit.
+Looking at the below screenshot, if you sell this call spread you will collect a credit. If you buy this same call spread you will pay a debit.
+In the upper left corner of each solver you'll see a two-way arrow icon that has either a pink or blue background. If it's pink, then everything else shown will reflect what will happen if you sell the spread. For example, you would sell the 5250 Call (since it has a pink background) and buy the 5275 Call (since it has a blue background), and the trade should result in a credit (based on the Cr in the green fair value box).
+{{:desktop:red_solver.png|}}
+Similarly, if the arrow icon has a blue background, everything else will reflect what will happen if you buy the spread. The buys/sells of the legs are reversed and the credit flips to a debit (Dr).
+{{:desktop:blue_solver.png|}}
-</WRAP>