The Fast Board is an add on to the Options Pro Package. It stands for filter and Sort. It allows you to see all outright and options spreads. You can also co-mingle any contract. Sort by any Greek, Sort by best opportunity (aka net edge) filter things you do not want to see ( ex: large delta, small Vega, small theta). You can trade directly from the Fast Board for quick execution. Note the blue and red backgrounds for the bids and offers indicate that it is through your theoretical values.

To open select Fast Board from the main window’s New Item Menu.

1. Fast Board Properties Opens the properties for the Fast Board window.
2. Contract Button Opens up the contract picker window which allows you to add or delete contracts on the Fast Board.
3. Views Menu that switches views for all tabs of the Fast Board window. Views can be added, deleted, and customized in the main properties window under Options>Fast Board > Views.
4. Display The display tells you how many contracts are available and how many are visible after filters and sorts are applied.

The Fast Board's column layout is fully customizable. Drag the column header to move, drag the column header side border to resize. The below columns can be added or removed by going to the Fast Board Properties.

To configure how you want to filter or sort these categories you do that by going to the main properties window under Options>Fast Board > Views.

• Activity Level Displays the number of sides present in the market. A market with a bid and offer will show 2, a one-sided market will show 1, and a market without a bid or offer will be blank.
• AVPT Show the average volume per trade (AVPT) on the Fast Board. AVPT is determined by dividing total traded volume (TTV) by total trade count (TTC).
• Bid Shows the current bid prices of the option on the board. Left clicking on the bid will bring up a buy price prompt.
• Bid Edge Edge for the bid is the difference between the theoretical price and bid price. Left clicking on the offer edge will bring up a sell price prompt.
• Bid Volume Displays the current best bid size of the selected market. Left clicking in the bid volume will bring up a sell price prompt.
• Delta The net delta of the strategy.
• Excahnge Template The strategy type as determined by the exchange, i.e. vertical, butterfly, iron condor, etc.
• Gamma The change to the delta given a one tick change to the future's price.
• Last Trade The last price traded in each market.
• Last Trade Time The time of the last trade in each market.
• Last Trade Volume The volume of the last trade in each market.
• Market DescriptionThe contract month(s) and strike(s) being quoted.
• NetEdge The difference in ticks between the theoretical value and the bid/offer price, whichever is better.
• NetEdge$ The difference in dollars between the theoretical value and the bid/offer price, whichever is better.
• OEG(Gamma based option equivalence) Equivalent number of ATM (at the money) options based on Gamma. This expresses gamma in terms of number of ATM options.
• OET (Theta based option equivalence) Equivalent number of ATM (at the money) options based on Theta. This expresses theta in terms of number of ATM options.
• OEV (Vega based option equivalence) Equivalent number of ATM (at the money) options based on Vega. This expresses vega in terms of number of ATM options.
• Offer Shows the current offer prices of the strategy on the board. Left clicking on the offer will bring up a sell price prompt.
• Offer Edge Edge for the offer is the difference between the theoretical price and offer price. Left clicking on the offer edge will bring up a buy price prompt.
• Offer VolumeDisplays the current best bid size of the selected market. Left clicking in the offer volume will bring up a buy price prompt.
• Template The strategy type as determined by T4, i.e. spread, fly, iron condor, etc.
• Theoretical The theoretical value of the strategy. Left clicking in the theoretical value will open a contract window for the strategy. Note if it does not show a value but instead says create a series or configure Months vols simply right click on the market and choose model management to create a series or configure the months vols.
• Theta The change in ticks to the strategy’s extrinsic value (time premium) given a 1 day change to days to expiry.
• Theta$ The change in dollars to the strategy’s extrinsic value (time premium) given a 1 day change to days to expiry.
• TTC Show the total trade count (TTC) for the day on the Fast Board
• TTV Show the total trade volume (TTV) for the day on the Fast Board.
• Vega The change in ticks to the options extrinsic value (time premium) given a 1% change to volatility.
• Vega$ The change in dollars to the options extrinsic value (time premium) given a 1% change to volatility.
• Weighted Delta The net weighted delta of the strategy.

The Fast Board menu is opened by right clicking on a single market. The following options are available from the Fast Board menu:

1. Trade Contract Click Trade Contract to open a Contract window for the current market.
2. Send to Solver By clicking this you will send the currently selected contract to be sent to the Option Strategy Solver.
3. Save By clicking this you will Save the currently selected contract in the Option Strategies Window.
4. Model Management By clicking this you will be able to pull up the Model Management. This allows you to quickly edit an existing series or create a new one if required.

Columns Tab

The columns tab is used to add, remove, and reorder the Fast Board columns.

• Add or remove columns from the view by checking their corresponding boxes in the left pane.
• Change the order in which columns are displayed by selecting a column in the right pane and clicking the up or down arrows.
• Remove a column by selecting it in the right pane and clicking the delete button.

Display Tab

The display tab is used to override the default grid. You are able to set a custom display for a specific Fast Board window.

1. Name: Click in the empty box to the right of “Name” to give this window a unique name.
2. Layout: When clicked, the layout and settings of the current Fast Board will be saved as default and used to create all new Fast Board windows.
3. Save: This will save a copy of the current Option Sheet layout and the saved layout can be found in the Window Management.
4. Font: click the plus or minus to increase or decrease the grid font size. Clicking Reset change the grid font to the system default.

• Filter Type Left click in the value area to configure the type of options and/or strategies to see when this view is selected.

Option Greeks:

• delta, vega, gamma, theta, OEs etc… are filtered using absolute value. Example: You only want to see options and strategies with a delta between -.10 and +.10. You would select Delta as the filter type, click on the FilterEditor, then select the Between operator, and configure the UpperBound to +.10. Notice, the LowerBound is set to 0, not -.10

Last Trade Time:

• Configured using number of seconds.
• Example: You only want to see options and strategies that have traded in the last 10 minutes. You would select Last Trade Time as the filter type, click on the FilterEditor, then select the LessThan operator, and configure the Filter Value to 600 (10 minutes = 600 seconds).

Strategy Templates:

• Select which type of option strategies you want to see.
• Example: You only want to see Straddles and Strangles. You would select T4 Template as the filter type, click on the FilterEditor and then the Filter Value, check off only the Straddle and Stranlge list items.

• Filter Editor Left click in the value area to bring up the filter editor. configure the specific values/range to see for the selected Filter Type.

• Operator Left click in the value area to configure. The operator can be set to
  • Between
  • Excluding
  • Equal to
  • Not equal to
  • Greater than
  • Less than
  • Greater than or equal to
  • Less than or equal to
• Filter Value Left click in the value area to configure the filter value. Note Time is measured in seconds. The minimum value is 0

• Sort Type Left click in the value area to select the category you wish to sort.
• Direction Left click in the value area to choose the sort direction. You can choose between
  • None
  • Ascending
  • Descending
• Absolute Value Enable to sort using absolute value.

Explanation of Absolute Value

It would just be that it doesn't matter if a spread is getting long or short vega/gamma/delta/theta, just what the magnitude of each Greek is. For example, one spread could show +$30 in theta while another shows -$30 in theta. The difference there is you collect 30 bucks each day with the positive value and you pay 30 bucks each day with the negative value. If you sort by absolute value then these two spreads would be side by side. If you sort normally, you'd have a lot of spreads between these two, specifically anything where you collect up to $29 down to paying $29. So if you have the following theta values for 3 spreads:

• +$28
• -$31
• +$17
• and you sort descending without absolute value you'd see:
• +$28
• +$17
• -$3 Because 28 is greater than 17 is greater than negative 31. But if you sort descending WITH absolute value you'd see: - $31
• +$28
• +$17
• Because 31 is greater than 28 is greater than 17. You just ignore the signs.