Interactive Brokers adds Options Strategy Selector in Strategy Builder
Interactive Brokers has released an update to its IBKR Desktop platform. Version 1.4 introduces a new feature called Options Strategy Selector within the Strategy Builder. The update simplifies how traders build and place options strategies.
What’s new in IBKR Desktop Version 1.4
The key addition is the availability of pre-defined option strategies inside the Strategy Builder Drawer. Traders can choose a strategy first and then define the legs instead of creating each option leg manually. It reduces manual steps and speeds up strategy creation.
Pre-defined Option Strategies in Strategy Builder
Now, the Strategy Builder includes a populated list of option strategies. Traders can select a strategy directly from the Custom drop-down menu. It removes the need to build multi-leg strategies from scratch.
How to Access the Options Strategy Selector
Traders can access the new feature by following these steps:
- Navigate to Quote and select the underlying asset from the left-hand side
- Click on the Option Chain tab
- Use the toggle icon to open the Strategy Builder at the bottom of the page
- From there, select the Custom drop-down menu to choose a strategy from the list
- Pick legs directly from the Option Chain once a strategy is selected
Auto-Place At Money option
The update also includes an Auto-Place At Money feature. Select a strategy, and then traders can return to the strategy drop-down menu and choose Auto-Place At Money.
It places the strategy approximately at-the-money, based on the current market price. It helps traders align strategies faster without manually adjusting strike prices.
Order Placement Process
Traders can enter additional order parameters at the bottom of the Strategy Builder after selecting the strategy and defining the legs. Once done, clicking Submit Order transmits the trade. It keeps the entire workflow inside a single interface.
About Interactive Brokers
Interactive Brokers (IB) is a global brokerage firm. It provides trading platforms to trade stocks, options, futures, forex, bonds, and funds. IB has low-cost trading, comprehensive market access, and decisive analytical tools. Also, it provides real-time pricing and risk management on trading floors.
Wrapping Up
Interactive Brokers improves the usability of IBKR Desktop by adding pre-defined option strategies and automated placement tools. The Options Strategy Selector makes strategy building faster, more structured, and easier to execute for options traders.
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