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Step 1...Search - OptionStation Search is designed to help find the best positions for your market ideas

   
View OptionStation Search Demo
Options trading is not suitable for all investors. Your account application to trade options will be considered and approved or disapproved based on all relevant factors, including your trading experience. Automated trading, as it relates to direct-access electronic placement and execution of equity options trades, requires manual one-click verification before order is sent. Please click here to view the document titled Characteristics and Risks of Standardized Options.
The first step in putting together a successful options trade is performing an OptionStation Search. With so many possible option positions that could be employed, you need a way to help determine what may be the optimum option trade for your market outlook. OptionStation Search allows you to quickly and easily find the best options and positions to trade based on your market outlook or idea. It's like having a veteran options trader sitting right next to you. Enter your assumptions for the underlying price target, target date to close the position, and amount of money to risk. OptionStation will quickly calculate and analyze all of the options available and report the potential P&L for each option position evaluated...

The Position Search Wizard guides you through a step-by-step process of uncovering options strategies
It's as simple as telling the program how much money you're willing to risk, what underlying asset you're interested in and how long you would like to hold on to the position. Once you've decided on your outlooks and assumptions for your search, you can sit back and watch as The Position Search Wizard automatically sorts through thousands of possible options combinations based on the selections that you indicated.


The Position Search uncovers the top options positions available based on your own market assumptions. The positions are detailed and mapped out for you, giving you information like maximum loss and gain, risk versus reward, and much more.
 
Built-In Strategies
OptionStation Search has more than 40 of the most widely used options strategies built right into the program. You can choose any or all of them for consideration in your Search. We've also built in market outlooks to coincide with each strategy, not only to help you find potentially successful positions, but to act as a learning tool. For example, if you thought the market was going to move up, your outlook is bullish. So when you're doing your Search, you might select "Bullish Limited Risk" as your outlook. OptionStation Search will then automatically select the option strategies that coincide with your outlook. As you use OptionStation Search, you are able to learn more about which strategies work best with each market outlook.
 
Outlined Execution

OptionStation Search not only uncovers the top options positions available based on your own market assumptions, but also outlines how to execute them. When your Position Search is completed, OptionStation Search will report back a list of the top 50 positions. From these top 50 custom-tailored positions, you can then choose the ones that suit your trading style best. Each position will be ranked in order of potential profit and based on the specifications of the market ideas that you have provided. The Position Search results will also give you a variety of valuable data like the theoretical profit and loss, the maximum loss and gain, as well as details like the strike price and premium price for the options that make up each position. You can also rank the OptionStation Search results by Theoretical P&L %, Probability of Profit, Probability of Assumed Target Price, Max Gain Return or Max Loss Return, so you can easily find options strategies to fit your criteria.

 
Search for Position Adjustments
You can search for the best position adjustment, for an existing position, based on your market outlook. For example, you can locate the best calls to write against your long stock position to generate income with a covered call position, or find the best calls or puts to buy or sell to make your existing position delta neutral.
 
Place Options Orders
You can place an order directly from the OptionStation Search window. Send a single-leg order directly from OptionStation to the Order Bar or a multi-leg spread to the Option Spread Order Bar by simply clicking on “Place Order” in the Right Mouse Button menu—it's that easy.
 
After you've completed the Position Search, you can then further evaluate these positions using Option Chain Analysis
 


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