OptionGear Strategy Wizard

Last modified 10:21, 8 Oct 2012

OptionGear Strategy Wizard

The Strategy Wizard is designed to enable you to quickly view trades that match a particular strategy that you define.

Enter a symbol in the Symbol Box and Your SOFTWARE automatically determines the name of the security and the exchange it is on.

Basic strategies are displayed in the list. For more advanced strategies, click on the Advanced button.

Setting Parameters

og3.9_stratgywizard.gifFrom the Market drop down, select your expectation of the market trend. The alternatives are Any, Bullish, Bearish or Neutral.

Select the level of volatility from the Volatility drop down. The alternatives are Any, High or Low.

Select the instruments you want from the Use drop down. The alternatives are Calls and Puts, Calls only or Puts only.

As you make selections from the Market, Volatility, and Use drop downs, alternatives that do not match those strategies become unavailable.

Finally, select how you want the output ranked by selecting your preference from the Ranked by drop down.

Results

Once you have completed these selections, click on the strategy you wish to implement. Your SOFTWARE will devise and display the trades that meet your criteria.

You can adjust the parameters from the Trade Parameters tab and adjust the filters from the Option Leg Filters tab to further refine your scan. For more information on these tabs, see Trade Scan Parameters and Trade Scan Filters.

This scan is performed online - the scan criteria are sent to the HUBB data servers and the results returned to your computer. This allows you to scan across the entire market, even if you don't have the data for those securities already on your computer.

For details on the results page, see Trade Scan Results.

This tool is a quick method of viewing trades that meet your market view. For a full and detailed method of analyzing and developing trades, see Trade Scanner.

Changing the Defaults

If you examine the Trade Parameters and Option Leg Filters tab, you will see the default settings for the type of strategy you have selected. These defaults can be changed.

If you make changes to the parameters or filters and save the result, then these settings become the default for the type of option strategy you selected.

For example, if you selected 'Butterfly' from the strategy wizard, then changed the parameters and saved the Butterfly, then the new parameters you set become the default setting for any further butterfly you create from the Strategy Wizard.

The Butterfly is also saved into the 'Start page' group which is accessed when you select Trade Scanner from the Scanner menu.

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