Field

Description

Volatility

Enter the volatility. This value is used to calculate a limit price for the option. The value shown in the Imp Vol field is calculated via the Option Modeler.

Volatility Type

Select from Daily or Annual volatility.

Delta Neutral Order Type

Select an order type. An order will be submitted against the executed option trade to maintain a delta neutral position. Use the Delta Neutral Aux. Price field to set a price for orders that require one.

Delta Neutral Aux. Price

Used  in conjunction with the Delta Neutral Order Type field. If you have selected an order type that requires you to define a price, for example a limit order or a relative order, use this field to set the price.

Continuously update limit price

When checked, the option price is automatically updated as the underlying stock price moves.

Reference Price Type

Elect to use the NBB (bid) when buying a call or selling a put and the NBO (ask) when selling a call or buying a put, or the average of the best Bid and Ask. This price is also used to compute the limit price sent to an exchange (whether or not Continuous Update is selected), and for stock range price monitoring

Stock Price Monitoring

Stock Range (Low) -  enter a low end acceptable stock price relative to the selected option order. If the price of the underlying instrument falls BELOW the lower stock range price, the option order will be cancelled.  Merely touching the price does not cancel the order.

Stock Range (High) - enter a high end acceptable stock price relative to the selected option order. If the price of the underlying instrument rises ABOVE the upper stock range price, the option order will be cancelled.  Merely touching the watermark does not cancel the order.