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Duration: 2:50

Instructor:

Contributor: Interactive Brokers

Level: Advanced

This lesson will explore the TWS Mosaic Option Selector which can be opened when adding an underlying to your Quote Monitor. The Option Selector displays option chains and may be customized to display different expirations, strikes, trading classes and more!

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Study Notes:

When you add an underlying to your Quote Monitor and select “Option” the Option Selector opens.
Available expiries are listed in tabs across the top.

Click on the More tab to display all available expirations, including weeklies and quarterly expirations
when available.

Use the Strikes drop down menu to choose the number of visible strikes or specify strikes to be
displayed by standard deviations.

Strike price background is shaded to give you an at-a-glance look to determine if the contract is In-the-money or not. Shades of blue designate ITM contracts, shades of black indicate OTM for both calls &
puts.

Hover your cursor over the strike price to open a popup box describing the Standard Deviation from the
underlying’s current price at each strike. Note: Standard Deviations can also be plotted on the TWS
Charts by selecting the Estimated Price Range in the Chart Parameters box.

The Option Selector allows users to choose between List View or Tabbed View to display option quotes.
Both views show Calls on the left of the screen and puts on the right. Each displays the color coded
strike price in the center column. You can easily toggle between layouts using the View dropdown list.

The Tabbed View shows last trading day and the number of days to expiry information in each individual
tab.

The List View shows the contract last trading day and days to expiration in the center column. Use the
expand/contract arrow to the left of the contract month to hide and reveal the chosen strikes by
expiration.

Select the trading class or multiple trading classes (where valid) in the symbol dropdown in the upper
right corner of the window.

The Implied Volatility reading for the selected weekly or monthly expiry is displayed in the upper right
for each series.

Click on any call or put to add it to a TWS Watchlist.

From Global Configuration, select Display > Settings to Turn on the Color shading for options based on
the in-the-money status.

Each line added can be color-coded in either green or pink to designate in-and out-of-the-money
options.

Disclosure: Interactive Brokers

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Supporting documentation for any claims and statistical information will be provided upon request.

Any stock, options or futures symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

Disclosure: Options Trading

Options involve risk and are not suitable for all investors. For more information read the “Characteristics and Risks of Standardized Options” also known as the options disclosure document (ODD). To receive a copy of the ODD call 312-542-6901 or click here. Multiple leg strategies, including spreads, will incur multiple commission charges.

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