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Fastest Ways to Trade Options in ThinkorSwim (Day Trading Layout)

Education

Introduction

Welcome everyone! Today we will be exploring the ThinkorSwim platform to learn the absolute fastest ways to enter and exit your options positions. This article will focus on single leg call and put options trading. We will discuss two methods: setting up the active trader ladder for options contracts and making a settings adjustment. Let's dive in!

Method 1: Setting up the Active Trader Ladder

  1. Start by accessing the Charts tab and selecting the Flexible Grid layout.
  2. Remove the middle chart at the bottom by clicking on the square with a line through it.
  3. Link the first chart at the top to "Red 1", the second chart to "Yellow 2", and the third chart to "Blue 3".
  4. Change the lower windows from charts to active trader ladders by deselecting the letter "C" on the left-hand side window of each chart.
  5. Add the active trader ladder to the right-hand side window by clicking on the "AT" icon.
  6. Customize the grid by clicking on the grid icon at the top right corner and deselect "Customize Grid" to remove the central windows.
  7. Use the trade tab -> all products page to select the options contract you want to trade. Right-click on the contract and select "Send to" followed by the color assigned to the corresponding active trader ladder.
  8. Repeat the process for both call and put options, and you will have your desired options contracts displayed in the active trader ladders.

Method 2: Settings Adjustment

  1. Access the Setup menu in the upper right-hand corner and open the Application Settings window.
  2. Go to the Orders tab and check "Auto Send with Shift Click."
  3. Apply the settings and head back to the Trade page and All Products tab.
  4. Hold down the shift button on your keyboard and click on the bid or ask price in the option chain to instantly submit a trade.

These methods allow for quick and efficient trading of options contracts, enabling you to enter and exit positions swiftly. Experiment with different layouts and settings to find what works best for you.

Keywords:

ThinkorSwim, options trading, day trading, active trader ladder, option chain, market orders, limit orders, stops, options contracts, flexible grid, bid price, ask price.

FAQ:

  1. How can I customize the ThinkorSwim platform for options trading? To customize the platform for options trading, you can set up the active trader ladder with specific option contracts, create watchlists for easier tracking, or adjust settings like auto send with shift click.

  2. Can I trade options quickly with the ThinkorSwim platform? Yes, by using the active trader ladder and making settings adjustments, you can execute trades swiftly and efficiently.

  3. What are the advantages of using the active trader ladder for options trading? The active trader ladder allows you to place market orders, limit orders, and stops easily. It also offers the option to create order templates for multiple order types and trade sizes.

  4. How do I access the options chain in ThinkorSwim? You can access the options chain in the Trade tab by selecting the All Products page and locating the specific option contracts you want to trade.

  5. Can I save different layouts in ThinkorSwim? Yes, you can save different layouts by clicking the grid icon and selecting "Save Flexible Grid." This allows you to access your preferred layouts anytime in the future.

These FAQs provide useful information about customizing the platform, accessing options chains, and saving layouts in ThinkorSwim.