tastyworks Desktop Platform Walkthrough (In-Depth TUTORIAL)

in this video I'm gonna share with you the essential features that you need to be familiar with when trading on the tasty works a trading platform more specifically I'll start with basic features like creating a watchlist and customizing your columns on that watchlist but I'll also talk about more specific features such as things that you're gonna find on the trade page when making an options trade I'll also show you how to visualize the risk and reward potential of any option position using the analysis tab now just to let you know if you don't already have a tasty works a trading account check the link below in the description because if you open and fund your first tasty works trading account using the project option referral code will give you full access to one of our paid courses completely free so let's go ahead and get started and get into the platform so the first thing that you'll notice when you open the tasty works trading platform is that on the left hand side we have the watchlist and this is where you can look at all of the symbols that you're tracking and you can customize your own watchlist to add whatever stocks or products you want to track in the future and I'll show you how to do that in just a minute but moving to the right hand side we have this main section of the trading platform and this is a dynamic section meaning this will change depending on where you navigate to on the platform so right now I have the positions tab open which is basically my portfolio of stock and option and futures positions but right now I just have one option position so this is all that's showing up now in terms of dynamic I said that if you click or navigate to another section of the platform this section will change so if I click on the trade tab this section changes if I go to activity it changes again if I go down to the chart it changes once more so this main section of the platform is dynamic and will change depending on what you click on in the platform but on the left hand side you have the watchlist which is a static section meaning that this will always be here no matter what you do on the platform but the first thing I want to talk about is the watchlist so right now I'm on the project option watchlist which is something that I've created and you will not see this in this drop-down menu because this is my own custom watchlist that I have created so if you want to go to any of these pre-made watch that's all you have to do is click on this drop-down menu on the top left side and just click on the watchlist so for example if we click on Tom's watch list this is a pre created watch list that Tom saws naath has selected and these are all the symbols that he might be trading or is just keeping an eye on for future reference so you probably want to create your own watch list and to do that you're gonna click on the gear symbol right above this drop down menu go ahead and click on that gear symbol and make sure you click on lists and once you do that you can go ahead and click on add new list and we're just going to call this new list so what you're gonna want to do is search for the first symbol that you want to add to the list so let's go ahead and search for Apple so I'm gonna search for Apple and hit add Apple to new list now I can go ahead and add more symbols if I want to so SP Y is one that I'd like to look at maybe the VIX I will go ahead and add that and if I hit OK go to this drop down menu we'll see that new list is now available in the available watchlist so if I click on new list we will see all of the symbols that I've just added to that watchlist now from here you can actually add more symbols by using the search box at the bottom left hand side so if I go ahead and click on let's say Tesla go ahead and click that and then click on the plus symbol that will add Tesla to this new watch list now once you've created your own watch list you're probably going to want to customize these columns that you see here so you can see all of the metrics that you want to look at for each particular symbol in your watch list so if you want to change these columns all you have to do is go back to that gear symbol and by the left sidebar these are the metrics that you're currently seeing on your watch list so we see the display two columns and the not displayed columns so on the not displayed columns there's all these things that I can choose from and I'm gonna go ahead and select earnings date and to add one of these columns to your display columns you can either click it so just click it or you can click and drag something and if I wanted to rearrange these I can go ahead and click and drag that as well but I like this sorting so I'm gonna go ahead and state with this so once I've added earnings date to the displayed columns I'll click OK and we'll notice that it's not appearing as of now but if you look here we'll see we see two dots and these two dots are indicating that there's actually two pages essentially of metrics that we can look at so to go to the next page just click on that arrow to the right and it says earnings at and we don't see any information here and that's because there are no earnings for these symbols coming up so let's go ahead and add another thing here so if I click on IV percentile that's going to add that metric to the watchlist and if I go ahead to the second page this is showing me the IV percentile or implied volatility percentile for the options on each of these symbols now the last thing I'll show you is how to reposition symbols in your watchlist so if you want to sort them in a particular manner like I've done here I have the VIX index and then below it I have all the upcoming VIX futures contracts so if you want to reposition anything in your watchlist just click and drag the symbol and if you want it to go above a particular symbol then drag it on top of that symbol so I just dragged spy on top of the VIX and that's going to put spy above the VIX index all right so we've just covered the left section of the Tastee works platform which is the watchlist section and this is the static section of the platform that will remain here no matter what you do or navigate to on the platform so we're gonna move on to the main section here and currently I have the positions tab open and the positions tab is going to show me all of my portfolio positions and as of now I just have one SPX position so you'll notice that there are a couple filters here and if there is a white line underneath this and it's got a dark background that means that the filter is enabled so for instance this is an option position so if I click on options to deselect this filter it's going to remove all the option positions from the positions tab so if I wanted to go ahead and just see whatever stocks I have I could just go ahead and only have this stocks filter selected which will show me all of the stock positions I have in my portfolio but since I have none nothing is showing up here so I'm going to go ahead and re-enable all these and the next thing I want to talk about is the group buy so if you group by symbol it's going to group your option in stock positions by each symbol and if I wanted to deselect this we're gonna see what happens so if I deselect the symbol group I button that is going to put all of my individual positions in a line and it's not going to group them together by the symbol so if I don't have group by symbol we can see that I have four different SPX option positions but those are all comprising one position so I like to have the group by symbol selected now just like we did with the watchlist columns we can also customize the positions tab columns by clicking on the gear to the right hand side above the positions to have columns so I'm gonna go ahead and click the gear and it's going to show me the displayed columns and the not displayed columns so currently I have days to expiration trade price which is what I entered the position for I have the mark which is the current price of the position I have ext which shows me all of the extrinsic value that remains in the position and individual options and I have the Greeks for the position and the net liquidation value of the position so you can go ahead and go through all these different metrics and add whatever suits your needs but I like to keep things clean and simple so these are the columns that I've selected for my positions tab the next section we're to talk about is the trade page on the tasty works platform which can be accessed by clicking on the trade tab right below the positions tab in this main section here so if you click on trade that is going to pull up the options change section for whatever stock or symbol that you currently have selected in this search box up here so if I wanted to go to Apple options I could type in AAPL hit enter and this will open up the options chain for Apple options now one thing that you'll notice is that I only have standard expiration cycles selected so that's the standard monthly expiration cycles it does not cover any non-standard cycles which would be weeklies or Quarterly's or anything that's just not one of these third Friday of the month expiration cycles so one way you can change that and I think this is a great feature of tasty works is by going to this can tab right here click on the filter symbol and you can choose from all expirations so if I click all expirations this will show me the standard expirations which are this darker color and it will also show me the non-standard or weekly cycles which are this shaded region and you can also see this w indicated right next to the expiration date and this w indicates that this is a weekly expiration cycle I personally don't really trade any weekly expiration cycles I stick to the standard monthly expiration cycles so I like to go ahead and just sort for the regular expirations only so if you're in the standard table View mode you'll notice that in the middle here there's the strike column which actually if you're not into any one of these particular expiration cycles and you're just looking at all these expiration cycles from a broad perspective this middle column here actually tells you the number of days until the options in that expiration cycle expire so this says 65 D on the April 18 2019 expiration cycle and that tells me that there are 65 days until expiration so if I wanted to go ahead and click into the April 2019 options you're just gonna click anywhere on this bar and this will open up the option chain for the April 18 2019 options so in the middle you'll see the strike prices on the left hand side you'll see the call options and on the right hand side you will see the put options so the two columns that you are always going to see are the bid and the ask now really quickly before we move on you can customize the columns that you see on the trade tab so right now I have Delta and open interest selected because I choose strike prices for my trades based on Delta so I like to have the delta opened up and I also want to see how many open contracts there are so that I trade liquid options now for that I have open interest opened up but to change either of these columns you can just go ahead and click on it and you can see all of the different metrics that you can choose from so for example if I choose let's just say ext this is going to show me the extra value of every single option on the option chain so right now it's saying that in the April 2019 options if I look at the 120 call option the ext or extrinsic value is 70 cents now the overall price of this option is closer to 51 dollars and 15 cents but of that price 70 cents of that is extrinsic now when you click on the bid or ask price for a particular option that does not automatically execute the trade that's just setting up the position for you to execute later on after you've set everything up and analyzed all of the risk reward metrics and whatnot and you're comfortable with that trade and you actually want to send it to an exchange so for example if I wanted to sell the 170 call in Apple go ahead and click on the bid price of 715 on the 170 call an Apple and these prices will actually update in real time so if we go below here we can see that it says the mid price is 715 which is just the halfway point between the bid and ask price as of right now so the bid price is 710 the ask price is 720 so the midpoint of those two prices is 715 which we're seeing down below here so you can actually enter a spread here and since I've already queued up to sell the 170 call in Apple I can go ahead and create a spread by buying an option below or above this strike price so since apples at 170 let's say I think Apple is going to be below 170 in 65 days at the time of this April expiration cycle but I want to define my risk in case Apple does increase significantly in the near future so one thing I could do is buy a call option with a strike price above the 170 call so if I go ahead and click on the 180 calls asking price of 294 that's going to actually create a spread position now so at the very bottom here we can see the order is to sell one 170 call and buy one 180 call in the April 18 2019 expiration cycle now the minus one indicates that you're trying to sell one contract and the regular one or the plus one indicates that you're trying to buy one of those tracts so the price that we're seeing here is actually the net price or the net credit in this case of this particular spread so if I sell the 170 call and buy the 180 call the current mid price of that spread is a $4 and 16 cent credit which we can see by this little CR here now if this was a debit then it would be DB which would indicate that we'd have to pay for that spread as opposed to receiving option premium as we are in this case now at the very bottom as you populate different option positions as we've created here this is a short call spread or a bear call spread where I'm selling a call option in buying another call option at a higher strike price at the same time and in the same expiration cycle you'll see this trade an info row here which gives you information about that particular trade the first metric you'll see is pop or probability of profit and this is the estimated probability that you'll make at least one penny on this trade if you hold it through the expiration date so this pop of 60 or probability of profit of 60% is telling me that if I sell this 170-180 call spread with 65 days to expiration I have a 60% estimated probability of making at least one penny on this trade if I hold this short call spread through the expiration date now the next thing you'll notice under the trade info row is ext which is how much extrinsic value is in the options that you are queuing up so right now I have the 170-180 short call spread queued up and since Apple is at 160 995 the 170 call is out of the money and the 180 call is also out of the money which means any value that they have is entirely extrinsic so that explains why the ext says four hundred and thirteen dollars or four hundred and ten dollars in the mid price is four hundred and ten dollars or four dollars and ten cents so this is telling me that essentially all of the value of this call spread is extrinsic so the ext is really a good thing that you're going to look at if you want to know how much extrinsic value remains in the option now to give you a better example if I go and click on the 125 call will see that the 125 call option is trading with a mid price of 45 77 but the ext is only 85 so there's only 85 dollars of extrinsic value in this option that is trading worth four thousand five hundred and seventy seven dollars the next metric you'll see is P 50 which is the estimated probability of achieving a 50 percent profit on the position between now and expiration so the pio pio or probability of profit is the profit at expiration so this is a 60% estimated probability of achieving any level of profit at the time of expiration whereas P 50 is estimating a 70% probability of achieving a 50% profit or more between now and expiration so for a short call spread a 50% profit would occur if the positions price fell by 50% from the entry price so if I sell this 170-180 call spread for 4 dollars and 15 cents a 50% profit would occur if this 170-180 call spreads price fell to 50% of this value or 207 or 208 so tasty works is estimating that if I sell this call spread there's about a 50% chance that between now and expiration this call spreads value will drop below 207 or 208 now the next thing you'll look at is the Delta and this tells you the net Delta of the position that you have queued up so right now it's telling me that the Delta of this 170-180 short call spread is negative 22 or negative 23 now it's doing that it's getting that calculation by taking the short call which is the 170 call and as we can see here I have the Delta column selected in my current platform and the Delta of the 170 call is 0.5 - and the Delta of the 180 call is 0.29 so since I've sold the 170 this is saying that there's a negative 52 Delta on this particular option because as if Apple increases by one dollar this option is expected to increase by 52 cents and if I'm short the option a 52 cent increase in the options value results in a $52 loss for my position on the other hand the 180 call has a delta of 0.2 9 which indicates that if Apple increases by one dollar this 180 call is expected to increase by 29 cents now if I buy an option and it increases by 29 cents that is a $29 profit per option that I own so when you take the net Delta exposure of these two options we get negative 22 or negative 23 if you want to round up so that means that if Apple increases by one dollar and I'm short the 170 call I'm expected to lose 52 dollars and I'm expected to gain 29 dollars from the long 180 call so the net loss in that case would be negative 22 or negative 23 so the next trade info metric is theta and this is going to tell you how much an option position is expected to make or lose with the passage of one day so I'm gonna actually change it up a little bit and with Apple at 170 to 40 I'm gonna go ahead and sell the at the money straddle or the options that are closest to at the money which is going to be the 170 strike price in this case so to queue up a short straddle on the 170 strike price I'm going to click on the bid price for the 170 call and I'm gonna click on the bid price for the 170 put now this is going to queue up the 170 short straddle in the April 2019 expiration cycle and as we can see here the theta value is stated at 10.09 now this positive theta of 10.09 is telling me that if apple stock price does not change and the implied volatility stays the same with the passage of one day this position is expected to profit by ten dollars and nine cents now if this was negative that would mean that we are expected to lose $10 and nine cents with the passage of one day I can actually show you that by just swapping it out so if you hit the swap button that will change all short options to long options and all long options to short options now since I have the 170 short straddle queued up if Ike hit swap that is going to change the position entirely to the long 170 straddle which means I'm buying the 170 called in buying the 170 put now as we can see here the theta has changed from positive to negative so this negative ten point zero seven theta is saying that if I buy the 170 straddle on Apple and Apple stock price stays the same and the implied volatility does not change I'm expected to lose ten dollars and seven cents with the passage of one day finally you'll see the max profit potential and maximum loss potential of the position so this is a 10 point wide short call spread that I've cued up and the price that I have locked in here is 4 dollars and 15 cents now locked in means that I have the positions price locked which means if you have this lock button enabled whatever price you have selected will not change whereas if I have the lock unlocked then this mid price will update as these option prices change so if I wanted to sell this position for no less than 4 dollars and 20 cents I could just increase the price to 4 dollars and 20 cents and as we can see here the lock button enables automatically when you change the price from the mid price but anyways if I sold this 170-180 call spread for 4 dollars and 20 cents the maximum profit potential would be 420 dollars since I'm only selling one call spread and if this $4 and 20 cent spread goes to 0 dollars or expires out of the money then my profit will be four hundred and twenty dollars per call spread now since this is a $10 wide call spread and if I collect 4 dollars and 20 cents for it the maximum loss is going to be 580 dollars or five dollars and 80 cents per call spread now that's coming from the fact that this is a 10 point wide spread so therefore the maximum value of the spread at expiration is $10 now that's going to occur if Apple is above 180 dollars at expiration this short 170-180 call spread will be completely in the money and it be worth $10 at expiration and if I sell it for $4.20 and it increases to $10 that is going to be a $5 and 80 cent loss on this one call spread which translates to an actual dollar loss of 580 dollars now if I change the quantity all of these metrics are going to update in real time so if I change the quantity - let's just say short 10 call spreads now everything is basically multiplied by 10 so the maximum profit for selling 10 of these call spreads for 4 dollars and 20 cents each is $4,200 and the maximum loss increases by 10 times to a loss of 5,000 and $800 if I sell 10 of these call spreads for 4 dollars and 20 cents and it turns out that Apple is above a hundred and eighty dollars at expiration in 65 days by using these width controls you can quickly change the width of your strikes so if you if you click the arrows that are pointing towards each other that is going to reduce the width of your strikes so right now we have the 185 short strike and the 195 long strike selected which is a 10 point wide call spread if I wanted to reduce that I could go ahead and click on these arrows pointing towards each other and that will reduce the spread width by one strike each but since there was only one option in between these two this just gives me a five-point wide spread now if I click the arrows pointing away from each other this is going to adjust each strike price by one so this one 85 short strike is going to move to the one 80 strike and the one 90 long strike is going to move to the one 95 strike and I'll demonstrate that right now so as we see if I press the button with the arrow is pointing away from each other it's going to move each strike price one strike away so it's going to widen it buy one strike on each side moving over to the quantity as I did earlier right now I have 10 spreads queued up but if I wanted to reduce that size to let's say just selling 5 spreads I can reduce the quantity to 5 and as I mentioned earlier all of these metrics are the ones that can change will update in real time if I want to increase the quantity just go ahead and on the right arrow now it's worth mentioning that you do not have to use these controls down here you can actually just click and drag on the box where the strike price is selected and you can move to whatever strike you want so let's say I want to sell the 200 call I can just move that short strike to the 200 strike price and if I wanted to buy the 230 call I can go ahead and click and drag the green box to the 230 call and now I have the 200 230 short call spread queued up the next control is available to you would be the expirations so you can reduce the time until expiration so if I just go ahead and make this a little bit easier on you I'm gonna drop down this April expiration cycle and this dot here indicates that I have a position that I've cued up in this particular expiration cycle so right now I have the 200 230 short call spread queued up in the April 2019 expiration cycle but if I click this - time button that moves it to the March expiration cycle so it went from April to March if I press that - time button one more time that's going to move this same position to the February expiration cycle so as we can see there just press the - time button and it move the position to February and the same controls can be used to move the position out in time so I just click that button a bunch of times and it moved it from the February expiration cycle to the July expiration cycle so if you have your queue up a position and you find it's actually in the wrong expiration cycle you can use these - time and plus time buttons to quickly adjust the same position but move it to a different expiration cycle the next buttons you can use are the undo and redo buttons so if I quickly were to change the strike prices of this position to the 190 and 220 call if I click on the undo button that's going to reverse my changes and switch it back to the 200 to 30 call spread which I had queued up previously finally you can use this Clear button to just clear any positions that you have queued up so let's say I have this iron Condor position that I've queued up and I want to just erase all these options just go ahead and click clear and that will clean the slate for you so you can start a new position or just get rid of that queued order so now we're gonna look at how to analyze and visually analyze an option position before you even trade it so earlier we were looking at the 170-180 short call spread in Apple but I'm gonna go ahead and just look at the short 180 long 190 which is gonna give me the short 180 190 call spread in Apple which is currently trading for 197 but I'm gonna round that up to $2 just to keep it nice and even so right here we see that the maximum profit is $200 and the maximum loss is $800 now what if we want to visualize the profit and loss potential of this position at expiration well to do that after you've queued up your position go to the top under trade mode and click curve and then make sure analysis is enabled so this would be disabled but if I click on analysis again this will enable the analysis mode so I can dessert and visualize the profit and loss potential of this position at expiration now once we have the curve view opened up an analysis enabled this is going to show us an expiration profit and loss diagram for whatever position we have queued up so right now I have the short 180-190 call spread for $2.00 entered into this simulation and we're visualizing here the profit and loss potential of this 180-190 call spread at expiration in the very middle of this diagram you'll have the prices for Apple and this little flag right here indicates the Apple stock price so right now Apple is trading for 170 35 and this little flag is right over the 170 price point which indicates that Apple is trading somewhere near 170 now this green zone is the profit zone of this position and the red zone is the loss zone for this position so if I sell the 180 190 call spread my maximum profit zone is any price below 180 which we can visualize by looking at this chart and if Apple is below 180 at the time of when these options expire the profit on this position is going to be $200 per spread which we can see by looking at the P&L X right here which means P&L at expiration and says positive 200 now on the other hand if Apple is above 190 at expiration it doesn't matter what price Apple is at if it's above 190 at expiration this call spread is going to be worth $10 and if I sell it for $2 and it increases to $10 that is going to represent an $800 loss per call spread that I sell which we can see on the top row here and it says - $800 at every single price above 190 now you can also see that by looking at the P&L X right here which says minus 800 now again if I increase the quantity of this so let's go ahead and increase the quantity to five everything here is going to update as well so if I sell five of these call spreads for $2 each my maximum profit potential is $1000 so $200 of maximum profit per spread times five spreads gives me a maximum profit of 1000 which we can see on this analysis chart right here and as such the maximum loss also increases by five and if we take an $800 loss per spread and multiply it by five we get a maximum loss potential of $4,000 now that $4,000 loss again would occur if Apple is above 190 at expiration so let's say everything with this position looks good to you and you actually want to put it on well the mid price of this position as we can see is $2.00 and if I wanted to actually put this trade on for $2.00 what I would do is make sure that price is locked and $2.00 is selected and then you're going to go ahead and click on review and send on the bottom right hand corner here if you click review and send it will once again confirm all of the details with you so it's saying I'm trying to sell one Apple call vertical spread by selling the 180 call in buying the 190 call in the April 18th 2019 expiration cycle which has 65 days until expiration again we can see all the trade info that we discussed earlier and it's also going to estimate my commissions and fees and the total trade cost or estimated buying power effect which basically for position is going to reduce my buying power effect by the maximum loss potential plus the fees so if I actually wanted to put this trade on for two dollars I would just go ahead and click send order and on the top left it says working so this brings us to the next section which is activity so if I go to activity we can see that I have a working order to sell this spread in Apple for a price of $2 but the current mid price is $1.99 so this position has not yet been filled now if the price does get to two dollars which is the price I've agreed to sell this spread for and there is a counterparty that they're able to fill me at then this position will be executed and this current position will move into my positions tab and it will no longer say working it will show up just like this SPX position is showing up currently now if you looking at this order and you actually want to get rid of it you can just right click on the order click cancel order and that will cancel that order that I just put into the queue so while we're in the activity tab you'll notice that currently the only filter that I have selected is working orders so this is only going to show me working orders but since I just cancelled an Apple order if I go ahead and click on this canceled order filter and enable it this shows me my recent canceled orders which as we know I just cancelled that Apple order just a few moments ago so that Apple order is showing up when I enable the canceled order filter now if I go ahead and enable the filled order and go to this date filter if I extend the date filter to let's say seven days or let's say 14 days this will show me the trades that I have done in the past 14 days and since I have all these different filters enabled if I only wanted to see the filled orders I could disable the canceled order filter and this shows me my filled orders over the past 14 days now up to this point we've covered a bulk of the trading platforms functionality as it currently stands but there are a couple more tabs underneath the positions trade and activity tabs which we'll cover right now the first of those tabs is the watchlist tab which essentially just pulls up your watchlist in this larger view so if I go ahead and change the watchlist to project option this is going to show me my same project option watchlist except it's expanded into this larger view and if you want to you can go ahead and customize more columns to show up when you're looking at the watchlist in this Center main view the next thing we can look at is the tastytrade stream so if you go to this tab and click agree you can watch the tastytrade live stream directly from the taste who works trading platform underneath that which is one that you might use quite often is the chart so if you go ahead and click on the chart this is going to populate the chart with whatever symbol I have plugged into here which currently is SPX now if I wanted to go to a different chart as I mentioned earlier I can just click on any symbol from my watch list so if I wanted to look at the Facebook chart I could just as I'm navigating to this chart I can click on Facebook and that will populate Facebook's chart into the chart area now one thing you'll notice is that I do have some moving averages here which you can get to by going to the indicators and I'm actually going to remove these so I'm just going to click on the X next to the indicators you can go through this list and add whatever indicators to your charts that you want to but I don't really use any indicator so I'm just gonna remove all those and click close now the next thing you can do is you can change the time filtering so right now I'm looking at a daily chart but if I go to W that will change this to a weekly chart and next you can choose the timeframe so right now I'm looking at a weekly ten-year chart of Facebook if I change the timeframe to let's just say one year this will show me weekly data for facebook over the past one year you can also change the chart type so you can do an open high low close you can do the candlestick chart you can do a line chart or you can do a mountain chart now personally I like a lighter background on my chart so I'm gonna go up to the gear go to colors and I'm gonna change the background by clicking on that background Square and I'm gonna choose the light color now I'm going to go back into the colors and I'm gonna change the grid line to a lighter shade and this is generally how I like to set up my charts color wise but you can go into these color settings and change the colors of candles and the general layout colors however you like to look at your charts so the right of that gear symbol there's a drop-down with different crosshair selectors so the top option you're not gonna have any crosshair wherever you're looking at and the data that you're hovering over is going to show up in the very top left hand side here so if I hover over this particular date which is July 25th 2018 we can see the open high low and close data for Facebook now if you sit if you choose the second selector this will actually give you a crosshair so you can actually see what you're hovering over but the data will still be on this top left-hand corner the final crosshair you can select from the drop-down is going to show you all of the same information except the box with the data in it is going to follow your crosshair so if I move from left to right we can see this data box here is moving with my crosshair so I don't have to always look up at the top left-hand side of the chart now finally you'll see that there's this last drop-down box right now it has the cursor and this is the tool selection box so the cursor is just the standard look that I'm going for right here and this is just showing me the data related to whatever my cursor is hovering over now if I change that to a horizontal line you'll see that it pulls up a horizontal line here and if I click that will place a horizontal line on my chart I can also do the same thing with a vertical line go ahead and place it on the chart and you can also draw trend lines and use all these different tools that are available to you on the tasty works platform now the last thing I want to show you is this collapsible menu on the right hand side here which can be accessed by clicking on this arrow that is pointing into the middle of the trading platform go ahead and click on that arrow and that's going to bring out this sidebar on the right hand side now since we're looking at Facebook all of the information here is related to Facebook and this chart is actually Facebook's price changes as of today's trading session so this chart is not a daily or yearly chart this is all of Facebook's price changes as of today's trading session underneath that we have some basic quote information so this is telling me the open closed high and low prices for Facebook today along with the current ask price we have the IV rank and the IV index to the right of that which are both implied volatility metrics underneath that we see this little e and this gives us the earnings date that is coming up in Facebook but since Facebook already reported earnings and does not have an upcoming earnings date in the near future there's no date that is listed here so the rate of that we have the volume of Facebook today which is just under 9 million shares and to the right of that we have a dividend amount and since facebook does not pay a dividend there's no information here and below that we have some more information called position detail but I do not have any facebook positions right now so there is no information populated here now if you move down to analysis this is going to show you any options that you have queued up and that you're actually analyzing so if I go back to the trade page and quickly just select a random position if I click on the 170 call on Facebook in the April 2019 expiration cycle we can see that that position populates under this analysis tab on the right sidebar now this little flag right here indicates that this is not a real position I have in my portfolio this is just a position I have queued up from the trade tab and if I go to the curve view we can again visualize the profit and loss potential for this particular position at expiration underneath that we have the watchlist tab which again is just another view you can look at your watchlist in and below the watchlist tab we have the activity tab which since we're looking at Facebook this is going to show me all of my Facebook trading activity but since I haven't traded Facebook at all this year I have no recent trading activity in facebook the final tab on the right sidebar is quote alerts and this is what you can use if you want to set alerts on stock price changes so right now we're looking at Facebook and Facebook is currently at 160 632 if I wanted to set an alert for Facebook when it exceeds 170 dollars per share I can just do alert on last price greater than 170 is the price that I selected and hit create alert now this creates an alert for what Facebook shares increased to a price above 170 and this is based on the last price so this will not be triggered unless the last price that Facebook shares traded at is above 170 dollars I hope you enjoyed this video everybody that's gonna do it for the essential features of the tasty works a trading platform we didn't cover everything but hopefully you feel a lot more comfortable with the tasty works trading platform be sure to check the link in the description below for that offer when you open and fund your first account with tasty works once again I'm Chris from Project option comm and thank you for watching this video

Channel: projectfinance

Views: 155,009

Rating: 4.953083 out of 5

Keywords: tastyworks desktop platform overview, tastyworks platform, tastyworks desktop platform, tastyworks tutorial, tastyworks, tasty works, tastyworks platform overview, projectoption, tastyworks desktop tutorial, tastyworks options, tastyworks brokerage, tastyworks watch list, tastyworks trading, tastyworks options trading, trading platform, options trading, positions tab, analysis tab, trade tab, activity tab, tastytrade, tom sosnoff

Id: Z6pdd3-A0Uo

Length: 40min 48sec (2448 seconds)

Published: Sat Feb 23 2019