TWS, IB Options Layout

Group Mentoring / By

This video shows the simplest way to get TWS ready for options trading.

Steps are:

  1. Open TWS
  2. Create new tab (plus sign along the bottom of the platform)
  3. The new tab should be unlocked. If not, click the unlock icon at the top
  4. Click “New Window” and navigate to the Quotes section and click on Options Chain
  5. Enlarge to fill the window area
  6. Click on “Strategy Builder”
  7. Select the bid (to sell) and ask (to buy) for each strike

Note #1: To close the order, you may either add the spread to a watch list and right click to create a closing order. Or you may rebuild as an opposite trade.

Note #2: If you are managing multiple accounts (friends and family or adviser), then it’s best to create a closing order that is “Position Change of -100 percent”. Ask for help in the chat if needed!