PreferredTrade 6.2

Streaming Options Depth of Market is a continuous real-time display of the bid and ask of a specific options series on all options exchanges that trade that series. This information can be displayed on two different screens: The "Streaming Depth of Market" screen and the "Floor Order Entry" screen.

The easiest way to access the "Streaming Depth of Market" window is to open an options chain.

Clicking on either the cCode or the pCode will cause a "Streaming Depth of Market" window to appear.

This window will display streaming real-time data.

The second source for the "Streaming Depth of Market" is the options "Floor Order Entry" screen. This window is not accessible unless the form style within the settings dialogue is changed. To do this, go to Preferences from the main tool bar.

In the Setting Dialog under Preferences, highlight Orders, and then select the Floor choice under FormStyle as indicated below.

Now, when an Order Entry window is initiated, the Floor order entry window will appear. There are several ways to launch an Order Entry window: Clicking on the bid or ask within the options chain or the Streaming Depth of Market window along with the Trading Order Entry from the main tool bar.

Streaming Depth of Market - Floor Order Entry Window:

The Floor Order Entry provides streaming depth of market option quotes. The exchange with the best price and size is highlighted in blue and displayed above on the yellow quote line. The user can still select their exchange preference by clicking on a specific quote line.

Addendum: Price Lock and Exchange Selection

When high volatility is experienced, it can be difficult to select a specific exchange route without it changing to the current "best" quote, which may not reflect the users first choice in routing. In order to resolve this issue, the Lock check box located under the price entry field (Fig 1.1) will lock in your exchange route and limit price selection when checked.

The Lock check box performs two functions on the Floor Order Entry screen when checked:

1. Checking the Lock check box prevents the price field from updating along with any market quote changes for the particular stock or option that has been selected. So if the user wants a limit price of .80¢ to be sent, the Lock check box will keep it from updating to the actual market price, which may have moved away from .80¢.

2. The second function of the Lock check box, when checked, is to allow the user to select an exchange route and keep that selection until the order has been sent. If the Lock check box is not checked, the route selection bar (Fig 1.2) will be populated with the current best route selected by the application based on price and size.

Note: Options involve risk and are not suitable for all investors. Click here for Risk Disclosure.
To obtain a copy of the Options Disclosure Document contact us at 1-888-781-0283.

The graphics provided are for illustration purposes only.
Newedge USA, LLC does not offer investment advice.