This video shows the simplest way to get TWS ready for options trading.
- Open TWS
- Create new tab (plus sign along the bottom of the platform)
- The new tab should be unlocked. If not, click the unlock icon at the top
- Click “New Window” and navigate to the Quotes section and click on Options Chain
- Enlarge to fill the window area
- Click on “Strategy Builder”
- 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!