tastyworks Platform Demo Day | January Overview

[Music] [Music] what's up everyone welcome back this is demo day it is the first tuesday of the month is the first tuesday of the year i believe maybe so thanks for coming in it is uh demo day we do this every month first tuesday of every month at 3 pm sharp really this is a way to show you guys uh how to utilize the platform how i utilize the tastyworks platform and really feature some new stuff that we release there's almost new stuff every month that we do this the last couple of months we've been pretty heavy on the feature side and this month is no different we have a new order change feature which helps you track roles and really tracks them automatically for you lets you know what your cost basis is on a trade and of course as an options trader that is the most important thing especially when you are managing a trade a trade that has gone against you you can see where you stand overall and what you have in total in terms of credit received so i will feature that for sure today before we dive into the platform i do want to show you how you can utilize the tastyworks help center yourself if you are not familiar with it it is probably your best friend in terms of learning the platform and getting answers quickly to questions that you may have so without further ado let's take a look at the tastyworks help center here so if you go to open up a browser go to tastyworks.com you're going to see this help center in the upper right corner you can click on that and it's just going to take you to the help center here a couple quick things if you are brand new to the tastyworks platform and tastyworks brokerage welcome i would start with this getting started section here intro to tastyworks platform quick guides this includes mobile platforms desktop platforms pretty much everything under the sun and you can kind of go through here and see what things you may need more help with taxes are coming around the corner so be sure to check it out as well but tastyworks does an amazing job with making that pretty easy you can seamlessly input your data into a lot of popular tax solution software suites that a lot of people use like turbo tax h r block whatever it is but if you're interested in figuring out what was released recently you can type in recent release notes or just release notes feel free to bookmark this page this is a static page and it's just added to every single time we have an update so the most recent one december 16th we released these order chains so if you want to see more information on the order chains itself you can click on the little link here that'll bring you to the page where you have obviously a very in-depth order chain tutorial we're going to talk a little bit about that today but this is by far your best friend in terms of getting answers quickly and getting those answers yourself through the help center but of course if you need more assistance you can use a little chat feature in the lower right hand corner here or shoot them an email at support tastyworks.com so let's get over to the platform uh and we can take a look at some of the features in the tastyworks platform so this is the desktop platform we're looking at you can download it from tastyworks.com if you want to use the mobile platform instead you certainly can that is available in the apple store in google play store for many devices most devices i would say and if you're on a browser or some place where you can access a browser you can also go to trade.tastyworks.com and that is where the web-based platform is so this is the desktop platform this is the most popular most widely used outside of likely the mobile platform so we're going to focus on this today we're going to work our way from left to right and talk about all the things that you see on this platform itself i've made this cursor nice and huge for you so you can see where i'm at but we'll start with recent symbols in the upper left corner here so recent symbols is nothing more than the recent symbols that you've typed into the ticker symbol box right here so you can see the last thing i looked at was spy i actually sold a put in spy to show you what a position looks like in the platform but if i switch it over to anything else like the qs or let's say square how about that paypal whatever it is um you can search and find that here and let's say you're not familiar with the ticker symbol um let's say i like john deere but i'm not sure what the ticker symbol is if i just type in john or deer you will see it's the first thing that arrives here so d e deer and company so that's another nice way to find tickers or find companies that you're looking to trade recent symbols along the right here you can along the left-hand side here you can see the most recent pop-up it's the most five underlings that i have typed in and it's going to pull the same data that i have listed here under the watch list tab so right now i have the last price the net change in terms of a raw points value and the iv index five day change so this is a really cool feature too especially if you're trading options we can see what underlyings and what products have had big changes in iv index over the course of the last five days so what this does is it tells you and shows you how implied volatility is changing within the underlying so you can see kron has had a pretty big implied volatility contraction here over the past five days if we flip it to the other side till ray has had a pretty significant increase as well as the vix so i would say the vix increase is likely due to the sell-off we saw yesterday we have some other underlyings here too snap qualcomm and this is from nick's watch list if we switch this over to let's say the futures products we can see the same information as well you can see the images are up a little bit today 23 points and you can really change add remove anything you want to see in here and you can drag this open to see more stuff so if you want to see more than just these three things here you can click on the gear on the platform and really you can click on the gear anywhere on the platform and be able to navigate to change this watch list section here so we have a gear near the watch list tab we have a gear in the upper right corner of the positions tab and that's kind of static throughout the trade page positions page etc but if we click on the gear on the watch list it's going to default us to the watch list section so you can see on the left side bar we have shown the last price net change and iv index five day change let's say i want to swap this out get rid of iv index five day change i can drag that from the left side to the right side and let's say we want to see net change percentage next to net change and let's take a look at underlying indicators as well so underlying indicators would be anything from earnings announcements to dividends you can see with futures of course they're not going to exist but if i switch this over to let's say high options volume you can see we're going to see some earnings dates coming up in 20 days so that's a nice feature to have especially if you have positions in some of these products so again you can drag this around make it as large or small as you'd like and adjust to your platform fit however you'd like to see that so let's leave it as is and we can go through here and really another thing to note with the platform itself is anywhere you see these numbers so you see the last price you see the bid or the ask along the top of the platform you can click on these numbers and it's ultimately going to load up the underlying load up the information for the underlying specifically the trade page as well but if you want to purchase shares or short shares in the product you're looking for let's look at apple for example if i click on the ask price up here it's going to allow me to or bring me to 100 shares of stock buying 100 shares of stock on the trade page i can then adjust from here if i only want to purchase 50 shares you can adjust that here as well but see it click it traded technology is what we like to call it so anywhere you see a number that kind of highlights when you hover over it it basically is telling you that you can click on that number and it's going to create a trade for you so shorting 100 shares of stock in apple would be clicking on the bid you can see it loads here it's not going to automatically route in your account of course you do have some additional steps you need to take but it is a nice feature nonetheless so let's look at this account section here in the upper area of the platform if you don't see this you probably have accounts hidden so if you see accounts hidden here you can just click on this little arrow it's going to pop out the account information that you see here you will see a symbol for the certain account that you're looking at so if you have multiple accounts and multiple account types you might see different colors for different accounts you might see different shapes for different accounts and what's really nice about that is that it's going to show you what positions are in each account so let's say i have a pinkish triangle here and then i have an orange square for a different account if i have a position in spy in one account it's going to show me the pink triangle here let's say i have a position in the queues in the other account the orange square account it's going to show qqq right next to spy and it's going to show me that orange square so if you have multiple accounts you can visually separate what sort of positions you have in each account just from these little icons here this is in privacy mode right now so we can hide this information you can see the total account is hidden you can see the account value is hidden but you can still see your p l day p l year to date i literally just sold this put right before the market closed so it's basically a flat position but if you wanted to get out of privacy more mode or add privacy mode you can do that in the account section here so again all of the settings are located by clicking the gear on the platform and then kind of navigating through the different modules that you have here so for accounts and different account settings you would want to use the account tab here and we can go through a bunch of different stuff here as well right now i'm using the zoom setting that is highest to make the screen as large as possible if i wanted to minimize the zoom though let's say i wanted to have as much on the platform as possible i have 20 20 vision we can do that we can flip it over to 80 and you can see just how small it can get and we can then you know drag out the information have plenty of information listed here but we're going to go back to 120 for the sake of this presentation all right here we go nice and large okay so net lick it is hidden again right now it's in privacy mode but that's ultimately going to be the net liquidating value of your position what is the account worth if you were to close all of the positions that you had p l day is going to be your p l for today specifically this number is going to change tomorrow but the p l year to date is going to change as well this is going to be your cumulative year to date p l so you might have noticed going from last month to this month having it be a new year we are going to see that p l year to date refresh and go back to zero ultimately option buying power is how much capital you have available to trade options and since this is a margin account that we're looking at we are going to have some margin capability so the stock buying power is going to be about twice the amount of the option buying power that you see available since the option buying power is based on your net liquidating value less the buying power you're using for position so there you go today's trades this is a nice little feature here basically just to show you what how many trades you've made today and uh right next to that you have day trade counter so if you have less than 25 000 in your account if you're trading specific products you may be maybe at the mercy of the day trade rule where you can't trade more than five day trades in a five day rolling period so this allows you to see where you're at and this is really helpful to kind of prevent getting into a situation with that specific role you can see we have our beta weighted net delta exposed here and this is really going to line up with the delta of this position itself so wherever you see a b next to the delta that is a beta weighted delta figure and that is beta weighted by default to spy if you wanted to change it to something else you can do that in the accounts tab here so if i wanted to beta weight to the qs click ok you can see now my beta weighted to the cues is 27 it is now not the same as this position i have in spy prior to that um because we are beta waiting to spy my delta in spy is going to be the same as my beta weight to spy because it's the same product p l open uh is another column you can have here and that is just the p l of the positions that you have open overall and ext which is what you see here is the extrinsic value of the position so this is a positive number since i sold the put in spy and again if you want to change the columns that you see you can totally do that just click the gear anywhere on the platform and you can change the header detail so the header detail is what you're looking at along the top of the accounts position and again you can change and drag and drop the available things that you see here but we'll keep it as is for now let's move on to the positions tab and you can see right now we have the filters all selected so right now we've got stocks options futures working orders and closed orders for spy right now again if i click on spy we're going to be able to see the position i have i do have a short put in here that i sold right before the market closed and if you uh want to hide the detail of the position you can just click on it if you want to open it up you can click on it again so if i were to hide options from this view you're going to see that it removes the position that i have which is an options position if i had futures position stock positions options positions if i just wanted to filter for just a few let's say i only want to see my options positions i could then click on stocks and futures sometimes you might see maybe you inadvertently clicked one of these things and one of your positions is no longer showing just make sure that all these are selected here so you can see everything within the position and within your portfolio that you've got working orders this is what you would see if i had a working order let's say to close this position that you see here closed orders would show you the positions that were closed today so if i close this position today and i got rid of the position you would see instead of negative one which is a short put you would see this change to zero and if i hid that it would go away which is typically what people have so i would say this is the filter that most people have because with closed positions you the position is closed you might as well get rid of it but if you want to see it you can certainly add that in right now we're grouping by symbol if we had no grouping at all you would see just a list of options that you've sold i like to group by symbol just to have some organization in terms of what we've got in these different products but you can see we have another feature now to group by order chains and right now this is a brand new position so there's not much to see with the position that i've got but let's say this is a short put that i had been rolling four times if i had rolled this four times you would see if i grouped my order chains it would see it would say option with four rolls and let's just talk about it right now now that we are if you pop out this arrow in the upper right corner you can see more information for a lot of these products so uh this is really where you can get a ton of information whether it's the dividend no dividend date dividend amount liquidity rating correlation to spy earnings date so if i switch this over to apple you can see we've got the open the close the high the low for today the bid and ask and again if i click on the bitter ask it can load in order to trade it right there iv rank implied volatility index which is just the implied volatility percentage aggregate for that underlying earnings date projected to be january 26 coming up here volume 94 million shares traded today that's quite a bit dividend 20 cents on november 6th so you can see a ton of information here and last but not least correlation the corr is a correlation to spy so if you're trying to find products that are negatively correlated or positively correlated to spy you can see tlt slight negative correlation pretty typical but all that information is here and like we showed with spy you can see your filled orders here too so if you're looking for an all up place to see a lot of information this little tab that you can pop out along the right side is definitely where you can look and i believe if i were to change the resolution here pretty sure this can stay popped out in general and we can kind of see more information but again we'll stick to that 120 zoom level to make everything nice and large for this presentation so going back to order chains uh if i click on the chains button here you can see that this is now going to track this position so if i have this option i sold this put you can see i did today at 259 literally right before the market closed sold it for 211 and this is really what i would focus on with this feature as i roll this position let's say tomorrow i rolled this from the 10-day cycle to the february cycle collect another two dollars what's going to happen is you're going to see the opening position here you're going to see another roll for another two dollars and your average trade price is going to go from 211 to 411 if i was filled at exactly two dollars so it's a really nice feature and it allows you to see exactly where you stand on the trade over a number of rolls because once you roll a trade and rolling a trade is nothing more than just closing your current one and opening a new one once you roll a trade your p l is going to reset so that can be problematic if you're closing a profitable trade opening a new one let's say your net profitable overall and then you take a little heat the next day you might be not profitable overall but the position since the p l resets is only going to be reflective of the new trade you have where the order change is going to show you the p l from the total trade overall so it's a really nice feature and again to get there just pop out this little arrow on the right hand side click on chains and it's going to show you where you stand with positions that you may be rolling over time and really the only thing you need to look at to see where you stand is how much credit have you received what is the trade worth right now which is the mark price and your total p l is going to be presented in real dollar terms so you can see if i collected 211 and it's trading for 220 right now i have a nine cent loss or a nine real dollar loss on this position so uh very cool stuff and um if i wanted to see more positions let's say i've been rolling positions in spy or had more positions in spy over the past 60 days i can change this to 60 days and it's going to pull any trade that has a chain that has trades within the last 60 days so really good stuff there and that is one of the features that's been asked for pretty frequently and i'm happy that we were able to provide it all right so getting back to the positions tab here you can see spy is up two dollars and fifty four cents today anytime you see this green medallion here you can see uh how much the stock has moved up today on the left-hand side and what the price of the stock is right now on the right hand side so you can see in spy we're up 254 today and the current price of the stock is 371.33 as we move lower you can see i've got this option that i sold january 15th expiration 10 days to go i'm short the option which is why you see negative one and it's the 360 strike short put delta is another thing we've got listed here and again just like everything else if i want to change the things that i see on my positions tab you can see there's plenty of stuff that you can add here so if i want to see days to expiration let's say i want to see days to expiration or no you want let's do days since open i kind of like that one let's move it up so days since open zero days tomorrow it's going to switch to one day so you can kind of see what positions you've been in for a long time that might trigger a position to close or roll but as you can see here you can you can change whatever you'd like to see to your liking vega rate of change of the option price given a one percent change in implied volatility trade price right here mark is the current price of that option so you can see the trade price i sold this for 211 it's trading for 220 my p l day is down nine cents or nine dollars and pnl open is going to match because i just placed this trade today if i right click on the option you can see that i have a number of different things that i can do so if i want to close the position i can do that here just clicking on this will route the opposite order so you can see buying to close this 10 strike or sorry 10 data expiration 360 strike option and if we're in the option chain you can actually visually see that here or if i just went to this option chain you can see this little circle signifies that i have a position in here and if i open it up and want to close the position again see it click it trade a technology just click on the ask price if i sold the option up front i sold it at the bid i can buy it back by clicking the ask to close the position so it's going to load the same exact trade and we can see the information here so if i were to close it for 220 i would realize a loss of nine cents i'd free up six thousand dollars in buying power which is what is required for this position right now um and there's a number of different things i could consider as well so if i go back to the positions tab right click on that option again if i click quick roll it's going to bring up the roll to the next available expiration cycle so you can see it would result in buying back this short put in the 10 day selling out the short put in the 14 day collect 32 cents in doing so maybe i want to extend that a little bit further i can click on the expiration button and it's really just going to push out the expiration for the cycle that i want to roll into so you can see spy has many many expirations let's say i want to go to the february 19th cycle now the trade looks a little different buying back in the 360 strike at 10 days selling out the 45 days gives me a much larger credit doesn't really change the buying power because i'm staying in the trade but it's going to increase my max profit since of course i'm collecting another 481 against my 211. so if i were to do this we can check it out you can see i'd be routing it in my account that i'm looking at right now if you had multiple accounts and let's say you want to place a new trade in a different account this would be a drop down menu that you could utilize but if everything looks how i want it to i can click send order and it's going to route the next open cycle since of course the market is closed right now now as you'll notice we can see the working order on our positions tab so if i don't want to see it i can just click on the filter and get rid of it there but if i do want to see it you can see all the information that we have here so the working orders are going to have this yellowish tint you can see i'd be buying back the 360 strike with 10 days selling to open sto the 45 day february cycle for a price of 481 mid price is 481 it's a day order so it's going to um you know be in this position or be in this account until the next day in which case hopefully we'd be filled but let's cancel this order and let's do something else here so if i wanted to close this position for a percentage of profit let's say let's say i want to buy this back for half the amount i sold it for so i sold it for 211. let's say i want to buy this back for 105. i can do so and create a gtc order so in time and force here day this is just going to be orders that you route during the day and if i switch this over to gcc what you're going to see is it's basically going to give me the ability to have this to be a resting order in the position in my portfolio until it's ultimately filled so we go back to the positions tab you can see i've got an order to buy back the short put anytime it reaches a limit order of 105 which would give me about a 50 percent profit here so this is something that i like to do especially if i'm not going to be at the platform all the time if i have a bunch of orders in and i want to set profit targets we can do so by utilizing this here another thing we can do let's do one more thing on this positions tab here we can roll different expirations so again kind of like what we were looking at earlier if i want to see what kind of credit i can get for different expirations you can see if i rolled to january 19th cycle i'd collect 32 cents or if i rolled to january 25th i'd collect a dollar 34. so you can make a determination of what you want to do based on the credits there or if you want to roll the strikes up or down you can do that as well but let's create a bracket order so a bracket order and if you want more information on this this is going to ultimately be a way for you to create a stop loss on an order and also a profit target so my starting position was selling this option for 211 if i want to create a stop loss and also a profit order at the same time we can do that here and if you go to tastyworks.com click on that help center type in bracket orders there's again a very in-depth help center article there but let's create a bracket order real quick for a stop loss on the position so let's say i want to put a stop loss in at six dollars okay so a six dollar debit would be about a four hundred dollar loss considering i collected 211 and we can make this actually 6 11 to make this round so if i sold this for 211 buy it back for 611 that would result in a net loss of 400 or i can close it at a profit target of 50 percent so if i did this close at a limit close it at a limit price of a dollar five that would give me a resulting profit of a hundred and six dollars if i click review and send you can see one cancels the other so if i'm filled on the gtc order to hit a stop loss then it's going to cancel this other order for my profitability and vice versa if i click send now you see i have a bracket order here where if i hit a loss of 611 overall in this position which would be a 400 net loss it's going to close out of the position or let's send the order to route for closing and just like the profit target we can see that here as well so let's leave that in there see what happens tomorrow and maybe we'll be hit on one of these let's move over to the trade tab here and we can look at a number of different things so the first thing you'll see is that the strike bars are vertical you've got strikes going up and down here so with spy 3781 this orange horizontal line is going to signify the current stock price if i wanted to sell a put in the february 45 cycle i can do that just by clicking on the bid and you're going to see that it loads in order to sell that put in this case the 360 strike 45 days to go if i want to drag it around i certainly can so you can just click and hold and drag this around to whatever strike you like maybe i want to throw a short call on the upside as well create a strangle i can do that as well so just by clicking on the bid is going to create an order to sell that option if i right click i can delete the leg and i can click on the ask if i want to take the other side of that trade another thing that's really interesting is the fact that you can actually graph the the price of this the option uh over time so if i right click on the bit or the ask you can see this little view option and chart button if we click on that you're going to be able to see the options price over time so yesterday on that big sell-off you can see this option actually reached a value all the way up to ten dollars and eighteen cents you can see that in the upper left corner there's a little flag that you can see there and today it's trading right around uh six bucks seven bucks so it's lost a ton of value from yesterday after that big sell-off and that makes sense since spy is up today but let's say let's go back to this strangle here and let's take a look at some of the metrics so if i want to see delta i can see delta on the column here i can flip over to anything i'd like maybe in the money percentage out of the money percentage um whatever you'd like to see you can change one of these columns net change is an interesting one i like to have this up just to see how the option has changed today so you can see the short puts across the board have lost value with the market going up and short calls have gained value with the market going up as well interestingly enough it looks like the short puts have lost more value than the short calls have gained which makes sense if implied volatility is decreasing in something like spy after a rally another thing you can look at with this view is the analysis mode so if we go to the analysis mode just by clicking this little button here let me hide this account information so we can see more what you'll see is it's going to default to the curve view so here we have our strangle that we've got on right now we've got the 360 strike the 380 strike and in the upper right corner i've actually unselected the short put that i have but if i wanted to include it as well just to get a an overall sense of where my risk profile is if i were to include my short put with 10 days ago and have this 45 day strangle on you can see i can just include that little check mark here but if i just want to see the trade that i have loaded which would be signified by the little shields here you can see the information listed here and what's nice about this is you can drag this around and you can see you know what sort of credit can i get while covering a range so let's say i want to sell a 400 300 strangle in spy right i think spy is going to be in this range over the next 45 days what sort of premium can i collect in creating this strangle range so here i would be collecting 1.77 putting up 3 000 in buying power max profit would be the credit received of 1.77 and i'd cr i'd cover 100 point range in spy maybe that's something i want to consider maybe i want to drag this in a little bit and you can see as you make these adjustments your deltas are going to change your probability of profits going to change pop is just probability of profit which is ultimately the probability of making one penny on the trade at expiration and that is going to be determined by where your breakevens are so if i were to triple this credit uh you can see if i'm collecting fifteen hundred dollars instead of four hundred dollars my probability of profit is going to go way up because now my breakevens expand all the way to about 327 and 415 on the other side so really interesting stuff cool way to see you know what sort of premium you can get based on different information and as you drag around you can see the p l at expiration if i hover over this you can see it would be 454 at expiration even if spy rallied all the way to 396 because these options would still be out of the money and worthless and i'd collect 454 up front to get that profit number to match the flag that we see here you can also see the working order that we have so with the short put that we've got if i were to clear this out and just include the short put that we have now you can see my risk graph for the short put that i've got already traditional short put sold it for 211 all the information matches here we've got a working order to buy it back for a dollar five or a working order to buy it back at six eleven uh at a market order to just get out of the trade immediately if we hit that stop loss so really cool stuff on the table mode curve mode pretty self-explanatory i do want to highlight some of these expirations you see so the weekly expirations are going to have an orange w next to them they're going to be a little bit of a darker shade of blue the monthly cycles are going to have a little lighter shade so january 15th that's your third friday of every month regular monthly cycle february 19th march 19th all of these are the regular monthly cycles you see here 10 days to expiration so all these are going to list the days to expiration here and the implied volatility along the right side so the implied volatility 24.6 percent i'd say that's uh pretty much in the middle of the road from what i'd expect in spy and you can see the expected move here so based on an implied volatility of 24.6 we have an expected move of about 10 for this cycle curve mode is going to be really just what we looked at i would like to use this mode if i were a beginner trader specifically using the curve mode to create new trades so this strategy menu at the top you can drop this down and you can see i can hover over these things and you're going to be able to see how these things would change so if i wanted to sell a put for example or sell a straddle let's let's look at selling a straddle if i click on short it's going to be the short straddle if i click on long it's going to be a long straddle let's go with a short straddle click on go and you can see it's going to give me my basic profit zones my basic lost zones for this straddle at 371. so it's automatically going to load the position let's say i want to flip this over to an iron condor short iron condor click go it's going to do the same thing so it's going to give me some strikes that are pretty close to the stock price if i want to change the expiration you can see we're looking at 17 days to go here if i want to give some more time to the trade i can boost out the expiration as far as i'd like let's stick with the march cycle 73 days to go and let's drag this out you can see this orange bar here the orange bar is ultimately going to signify the expected move of the cycle so let's look at an iron condor encompassing the expected move and let's make it five points wide if we can five points wide on the call side and five points wide on the put side cool so here you can see my where my profit zone is where my lost zone starts and again if you click on analysis and just exclude everything except the iron condor you can see your traditional hockey stick risk graph if i'm collecting a dollar fifty i would make 150 encompassing this range and my max loss would be 350 which is the same as my buying power as well uh if i like everything on the trade you can see the order information here buying to open the 340 selling to open the 345 selling to open the 400 and buying to open the 405 for a dollar fifty if i like everything here you can go ahead and route it to the order and again we now just have another working order in this position and if i wanted to get rid of it i can click on right click on it click cancel order and be done with it we also have a number of different features so we've got the active trader mode i won't go too deep into this this is more for active futures trading again tastyworks.com help center you can get a lot more information on this itself but it's really a way to click be able to quickly click on the bid and ask and create orders to purchase or short futures products or even stocks so definitely check this out if it's something that might suit your style of trading and again that's the active trader feature we also have the grid feature which is just another way to look at different charts and place trades from there and last but not least the pairs trade function which is a way to basically figure out pairs trades and if this is something you want to go deeper into we do have some presets so we've got futures presets we've got small exchange presets listed here we've got tony batista the bats small exchange presets and we have some stock presets too so if you're trying to get long spy and short the cues that would be one of the presets here my favorite feature of this is the ability to see the graphical representation of the relationship so over one year we can see long spy short queues we're kind of right in the middle of the range here if i were to buy one sheriff's buy sell one share of the queues but it's a cool feature to see you know where you stand if you if you wanted to get long this relationship of course you'd like to see this graph near the lower end but this is ultimately what you're doing if you flip it and you're getting short this relationship which would ultimately be short spy along the hues you can see the graph kind of flips on its head but all this information plenty of more information for these different features in the tastyworks help center itself if we go to the activity tab this is going to show you all of the activity that you've placed today or in any range so if i wanted to see just the information from today i can filter for today if i want to see the last 30 days you can see this is the only trade that's been in here if i go to 60 days you can see i've got some more information in here so the last demo day looks like we sold a short put spread or bought a long put spread in the e-mini futures you can see the price paid 675 for it and all the information is listed there so really quick way to be able to see what you've done in different products you can filter for specific symbols so let's say i just want to see what i've done in the e-minis if i type in slash yes you can see it filters out all the other stuff and it's a great way to just see what you've done within different underlyings within a specified amount of time and of course if you want to do a custom range you can click on custom change the dates go all the way back to june if we want and you'll see there's plenty of information listed here and yeah working orders you can see as well so right now you can see the only working orders we've got are the ones that are pending in the account that we just created cancelled orders a bunch of cancelled orders as well so yeah great way to see all the information here the watchlist tab uh if you hover over these little column sets here these little lines you can see um the watchlist tab if you're on a different tab if you hover over it you'll be able to see a description for each of these things so we've got the watchlist tab tastytrade which is a way to see tastytrade.com while you're within the tastyworks platform the chart tab history tab and the file page the watches tab is a great way to find new trades and see you know what's out there so a lot of people have been asking me how do i find high implied volatility stocks right now the easiest way to do it is look at one of these watch lists whether it's the high implied high options volume watch list which really will just show you a bunch of different underlyings that have a lot of option activity within them so you can see we've got a lot of household names here spy apple the qs you name it or you can look at a dividend stock list so dividend aristocrats this is basically a list of underlyings that have increased their dividends uh consistently so it's a really cool feature a really cool way to find dividend stocks if you're trying to become long dividend stocks for example this is going to give you a nice list of those dividend aristocrat stocks where they've been increasing their dividend consistently but let's go back to high options volume and let's look at iv index so iv index is the actual implied volatility of the underlying so you can see if i sort from high to low we're going to have a bunch of different underlyings that are in the hundreds you've got some in the 80s 70s this is kind of the range that i like to be in pinterest 86 percent draftkings 78 we're going to have a draftkings position the whole year and we're going to see how much premium we collect by the end of the year i'm super excited for that um but yeah you can see a lot of different underlyings and this is really how i find high implied volatility trades i just sort from iv index high to low which is just like everything else if you click on the gear you can change what you want to see so if i want to see underlying indicators as i mentioned before it's going to show you earnings dates and dividend dates you can see all that information here but anything you click on here if you want to sort by symbol alphabetically you can do just that if you want to sort by percentage change on the day what underlines increased the most today based on the watches i'm looking at you can do that here or you can create your own watch list so if i click on the gear on the watch list tab what i can do is click on the lists and create a new watch list from here so if i click on lists and create add new list let's call it jan 21 watch list and let's add spy to this list set symbol perfect all right so if we want to add a bunch of different underlines we can add the cues we can add square click ok and now what you're going to see is jan 21 watch list there you go boom we want to add more symbols we can totally do that so let's add draftkings why not let's add that to the list and if you can see if i right click on one of these underlyings i can remove it from the list as well so if i just want to see spying cues i can do that really quickly you can see it just took me 15 seconds to create a watch list and if you end up creating a watch list of information of stocks that you like you can click csv if you want to export it to a csv file that way you can keep it offline do some further analysis if you'd like there moving right along we've got the tastytrade tv tab so if you see this information you're going to be able to see the live player within the tastyworks platform so you can see this is an inception of what i'm talking about right now we also have some videos from today top videos really cool spot for viewing tastytrade.com you can also do that along the right side here if you click on the tastytrade tab you can see the information here as well one thing i didn't mention yet mentioned yet is the alerts tab so the alerts tab if you click out this arrow on the right hand side click on alerts we can actually set alerts which will be sent to our email that is associated with the account so if i want to be alerted when draftkings reaches forty five dollars per share i wanna you know become bullish on draftkings if it reaches forty five dollars per share we can do that so let's change the threshold to 45 and for draftkings when the last price is less than 45 let's set an alert to send me an email so if i create an alert it's going to show me the alerts that i have here and if i switch over to spy let's do the same spy reaches 365 let's create an alert so here we've got a couple of alerts and again if those alerts are triggered you will get an email from jcworks to your actual email so it's not going to it'll trigger the alert if it's if you're looking at your platform and you see it happen but if you're away from the platform and one of these alerts is triggered you'll get an email you'll be notified then you can log into your mobile platform if you'd like and go ahead and place a trade if that's what you're trying to do so yeah those are the most important things from the side panel how to create a watch list how to filter and sort through watch lists filtering if you were looking at a high options volume watch list for example and you wanted to filter for specific things you can click on this little funnel in the upper right corner here and let's say you want to exclude underlyings that have earnings in the next 30 days right so exclude earnings within the range we can filter by iv rank if we'd like or we can filter by liquidity star ratings so liquidity star ratings are from one to four four stars being the underlyings that have really high stock volume high options volume narrow bid ask spreads so a lot of your household names are going to be in this the three to four star liquidity ranking i really would avoid one to suit one to two star liquidity rankings in general there are situations where you can find liquidity within those but from a general standpoint it makes more sense to stick with the liquid underlines if we can uh what else is there history tab is another way to look at positions that you've got that you've placed actually within your portfolio so the transactions tab is going to show you more of a drill down view of the activity tab so if we go to filled orders from today working orders you can see the activity tab is pretty similar to the history tab it just gives you a lot more information year to date is going to show you the year to date p l for different underlyings that you've traded so right now we've only traded spy we are down 10 cents on that position um from the last couple seconds of the tr the close so as this changes and as i open new trades close new trades the year to date section is going to show you where you stand from a underlying standpoint but also from a portfolio standpoint as well the follow page is a really cool feature of this platform as well so the follow page basically allows you to see what tom and tony are trading every single day as well as a lot of other tasty trade hosts and people that have been on tasty trade maybe for rising star reasons or whatever so here you can see all of tom's trades tom's been pretty active today you can see he's been rolling a lot of options selling a lot of new stuff uh dr jim sold a vertical spread in gld today if you click on the actual option you can see if there is a comment listed you'll be able to read that comment if you want to filter for more stuff so let's see you want to see what else dr jim has done you can click on his name here in the lower right corner and you'll see it'll filter for all those positions and let's say you only want to see what he's done in gld looks like a lot wow pretty active in there so yeah this is a nice feature this is not an advisory service we don't track the p l for any of these things it's really for more for you to see what people are trading within different products maybe it'll spark new ideas for you but it is a really cool feature especially if you're looking for new ideas and some of these products that maybe you haven't traded in a while and last but not least if you click on the little question mark in the lower left corner here where does it bring you right back to the tastyworks help center here so again we went over some stuff briefly that i didn't touch on too in depth but if you like the active trader mode you just type in active it's going to pull up actor trader interface overview and as you can see we've got plenty of information here so again this is a great place to start your journey with the tastyworks platform you can locate this just by going to tastyworks.com click on the help center here you can find a lot of information as well but that's going to do it for me for today thanks so much for tuning in if you have any questions about the tastyworks brokerage side whether it's the platform or opening account whether it's an international account or domestic us account shoot them an email support tastyworks.com or you can just check out the help center if you have some more information you want to see for the actual tastyworks platform if you've got any questions about the tastytrade side whether it's tastytrade.com any of the content you see there shoot us an email at support tastytrade.com we're more than happy to help if you have any questions for me specifically shoot me a tweet i'm at tastytrade or mike on twitter but uh other than that have a great rest of your trading week and we will see you next month for another demo day first tuesday of every month right at three o'clock central time sharp peace you

Channel: tastytrade

Views: 6,836

Rating: 4.9716311 out of 5

Keywords: trading, how to, futures, stocks, equities, market, commodity, tastytrade, Tom Sosnoff, Tony Battista, trader, investing, finance, volatility, learn to trade, E Mini S&P, Nasdaq, Dow, Crude Oil, Russell, tastyworks, brokerage, IRA, retirement account, options trading, trade platform, mobile app, trade desk, Scott Sheridan, commissions, fees

Id: 0L8YED8H1pE

Length: 56min 5sec (3365 seconds)

Published: Tue Jan 05 2021