Open topic with navigation

Strategy Builder

Use the Strategy Builder to quickly build complex, multi-leg orders directly from the option chain display.

To open Strategy Builder

• From within Mosaic, select an instrument and use the New Window drop-down to select Strategy Builder. The Option Chain opens for the instrument with Strategy Builder on.
• From within the Option Chain window, toggle on Strategy Builder in the lower right corner.

To create a pre-defined strategy

1.  Use the "Strategies" pick list on the right side of the Strategy Builder to select a named complex strategy.

2.  Hold your mouse cursor over the first leg to see the potential strategy.

• Use the mouse scroll button to modify the spread between potential legs.

3.  Click the bid or ask price for the selected leg to create the full strategy.

Use the buttons along the bottom of the Strategy Builder:

• Click "Clear All Legs" to start fresh and remove all legs from the current strategy.
• Click “Profile” to see the Performance Profile sidecar for the strategy.
• Click "Add to Watchlist" to include the strategy in the currently selected Watchlist.

Use the Order Entry panel below the Strategy Builder to trade the strategy.

Tips:

• To modify a strategy or legs within a strategy:
  
  • Within the chain, use shift + mouse key to grab, drag and drop to move the entire strategy.
  • Within the chain, click and drag any leg to a new strike.
  • In the Strategy Builder (below the chains) delete a leg, or use the pick lists to change the parameter within a leg.
  • In the Strategy Builder (below the chains) click “Clear All Legs” to start fresh and remove all legs from a strategy.
• Easily change the strategy from long to short or short to long by dragging a leg from the ask to the bid price (or vice versa). To drag, click and hold the shift key.
• When needed, the Option Chain view will change to List View (for strategies that use different expirations).
• While holding your cursor over the bid or ask for a leg (without clicking), use the mouse scroll key to widen or narrow the spread between legs.
• To use a different strategy, simply choose a new strategy and click the bid or ask for a put or call. The old strategy is cleared and the new one takes its place.

To manually create a strategy

1. With the Strategy Builder on, click the bid or ask for a call or put in the Option Chain to add it as a leg to the Strategy Builder.
2. Once the strategy is defined, modify order parameters as needed, including order type, quantity, price, time in force and more.
3. Click Submit to send the order. Use the drop-down arrow on the Submit button to save the order and transmit at a later date.

Note:  The strategy displays below the leg in the Strategy Builder window, and is updated each time you add a leg. Options used in the spread are highlighted in the Option Chain.

Copyright