Adding Options - Advanced Mode | Tradestops Adding Options - Advanced Mode | Tradestops

Adding Options – Advanced Mode

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If you want more control over entering options, use the advanced mode. This is particularly helpful for entering expired options.

advanced adding options form

  • Select the Portfolio in which you would like to add your option (1).
  • Click “Option” (2).
  • In the Symbol Field, enter the underlying symbol for your option (4).
    • Enter the date your option will expire.

NOTE: Monthly Options usually expire the third Friday of every month, but you will see expiration dates here for weekly options too. If you are entering an expired option, click the “Expired Options” check box (3) and select the expiration year.

    • Choose the strike price of your option.
    • Select “Call” or “Put.” You will see the Option symbol fill automatically in the box on the next row and the name of the option.
  • Symbol Name will be populated (5).
  • Fill in your entry date (6).
  • Enter your entry price (option premium) (7). You can click the “Get Quote” button to fill the latest close for your entry date.
NOTE: Option prices are published at 1/100th of the actual cost of the position (or 1/10th for mini options). TradeStops will automatically multiply it by 100 to give the value / cost of the position.
  • Enter the number of contracts (8). In options trading, 1 contract equals 100 shares.
  • Enter your broker commission, if applicable, and it will be included in your cost basis and gains (9).
  • You can leave “adjust alerts by dividends” on the default setting “Yes” (10).
  • Select Long or Short (11). If you are buying the option, it is LONG, and if you are selling the option, it is SHORT.
  • Enter the status of your option – Open or Closed (12).

NOTE: You can back-populate your TradeStops account to enter any options that are already expired or those you have already closed. These options will automatically appear on your “closed positions” page.

  • Enter Tags (13) and Notes (14) (optional).
  • Click “Clear” to reset and start again, “Save and Add More” to keep adding positions, or “Save and Close” to finish adding positions(15).

Once you save and close, we will bring you to the position card to view, edit, and add alerts.

NOTE: For short options, your contracts and option value will both show as a negative number.