FAQ’s


Brokers and Brokerage (1)

I have more than one broker. How can I enter in additional broker details?

You can easily enter new broker details. Do this by going to Setup > Brokers. Enter in the details of the additional broker details and click save when you have finished.

Diary (1)

How do I take screen shots to save in to OTrader?

To insert screen shots and save them into OTrader you need to first copy these to the Windows clipboard. In effect anything you can copy anything to the clipboard be it screen shots or particular windows in a software program. The most common use of this feature is to enable you to take screen shots of the chart applicable to the trade either as is or with your annotations. Generally you can do this by selecting “Copy” from the software’s “Edit” menu. Failing this you can generally copy the active window to the clipboard by utilising the “Alt+Print Screen” keys simultaneously. Then returning to OTrader you can insert the copied image by using the Load & Save Image From Clipboard button. For further information please utilise the help feature within your OTrader software.

Downloading (1)

I have finished downloading where do I find the file?

The best way to know where your download saved is to pay close attention to the “Save As” window at the beginning of the download process. Once you have clicked the download button and selected the option to save the file, you will be given the “Save As” window, which shows you exactly where your download is being saved to on your computer. If you know the filename, you can do a search on your computer for it. Do not rename the file you’re downloading, it may cause installation problems.

General (13)

How do I log my first deposit into my trading account?

In the Main Menu click on the Portfolio tab to bring up the portfolio options. Click on the Banking icon to display the Banking Window. Enter the figure you wish to deposit into your trading bank into the “Credit” field. Enter the Transaction number if you have it and then press Enter or click on the down arrow under “Extra Information”. A confirmation window will appear and if you wish to credit your account with the relevant figure. If you agree click yes, if you don’t click no and put in the correct figure.

What is the use of the “insurance” checkbox in the Enter Trade view?

This checkbox is used in reporting. At times the purpose of this option is to provide an insurance leg for shares that you own as part of an overall strategy.

What does the green arrow in the quantity field do?

The green arrow will automatically select the highest amount of contracts you can by in line with the money management rules you specified in program setup.

Can I close a position from the view trades screen?

Yes. To do this simply right click the trade in your screen and select “Close Position” from the menu that appears. You will then have the opportunity to enter in the closing trade details.

Can I automatically specify 1000 shares per contract?

You can do this by opening the “security codes” window and entering the amount in the contract size field.

When entering a trade with more than 2 decimal places the price gets rounded.

OTrader has the ability use a preset number of decimal places. If you go to Edit > Preferences & Setup > Money Management > Number of Decimal Places for prices you can set the required number of decimal places.

Can I export my data out of Roo-Trader?

Question:

Can I export my data out of the Roo-Trader database?

Yes, we can export your data.

Roo-Trader can export data (through several pre-defined report formats) into widely-used formats like Excel, PDF, etc. You may then manipulate your data using the Excel file and import into any program from the Excel software wizard.

Can I import my trade data from my broker?

 Question:

Can I import my trade data from my broker?

No. Unfortunately, there are thousands of brokerage houses around the planet. We have not found an elegant way to import historical data yet. This is a concern, and one that we keep trying to solve. However, given a global audience, and so many different formats, we are still searching for an answer.

Roo-Trader imports price updates automatically from the public web services.

Do you show % gain/loss per trade and per account and for the entire portfolio?

Question:

Do you show % gain/loss per trade and per account and for the entire portfolio?


Yes, both visually (through the View Trades window), and the reports (several report formats have been provided for P&L and they indicate the %).

If your portfolio contains several accounts, you must filter your data per account to get a total PL% for that particular account, filtering of data is done by selecting the account on a dropdown list.

Does Roo-Trader update price information?

Question:

Does Roo-Trader update price information?

Yes, Roo-Trader imports stock price updates automatically from the public web services.

Can you Export my Data to my Tax Software (TurboTax)?

Question:

Can you export to US tax software, such as Turbo Tax?

Yes, we can export your data.

No, we can not export your data to a specific format used by TurboTax (Or any other tax software).

Roo-Trader can export data (through several pre-defined report formats) into widely-used formats like Excel, PDF, etc. You may then manipulate your data using the Excel file and import into any program from the Excel software wizard.

Can you provide/post a short demo video showing salient features of Roo Trader?

Question:

Can you provide/post a short demo video showing salient features of Roo Trader?

We have some demonstration videos for the old version (OTrader).

Tutorial

We have focused on getting the current release out and have not built our new videos yet. The Otrader videos are close, but the interface has changed. We are working hard to get the tutorials, and getting started videos updated.

DELETING AN ACCOUNT IN ROO-TRADER

If you enter a brokerage account in Roo-Trader you can NOT delete it.

DELETING AN ACCOUNT IN ROO-TRADER
Roo-Trader was designed not to be able to delete an account, an account can only be set as “Inactive”, Deleting an account would cause inconsistencies with records since trade transactions are tied to an Account, deleting it would mean deleting these transaction records too, and in turn would make bank records inconsistent.  To mark an account inactive, click the pencil icon (Edit), a window will open showing the account details, then set the Status to “Inactive” (click Save button to finalize the changes).

Installation (5)

I lost my license key. How do I get a new one? – “Hello GlobalSign”

This can be accessed by going to the website and logging in to your account. You can log in from here if you have forgotten your user name or password you can request a new one to be sent to your from the same page. Once you have logged in go to your control panel by clicking My OTrader Account which is located at the top right of the screen. Once in your control panel click view my license key. You can then copy your license key to the software.

The OTrader installer returns error 1316, error 1603 or error 1706

These errors are caused by the Windows Installer. Please follow these steps carefully as they will resolve the problem. 1. Download and install the Windows Installer Clean-up Utility From here 2. Once installed, run the utility by clicking the Windows Start button, selecting All Programs and then clicking the Windows Install Cleanup icon. Select and remove only OTrader. Once that is done, browse to C:>Program Files> and delete the OTrader Software folder. 3. Restart your computer. 4. Re-Install OTrader

How do I move my portfolio files to a new computer?

To move your data files from one computer to another follow these steps:
  1. On your old computer locate the folder called ‘My OTrader Portfolio’ by default this is saved in ‘C:\Documents and Settings\[User Name]\My Documents\’
  2. To move the folder to a new computer you will need to:
    • Copy the folder to a CD using CD burning software
    • Copy the folder to a USB thumb drive
    • If the computers are networked together you can copy the folder via the network
  3. Install OTrader on your new computer. Note: As OTrader activations are linked to each computer you will need to deactivate your license key from your old computer before activating on your new computer. This can be done by going to Help > Activation > Transfer License
  4. Saving your original OTrader data files on your new computer.
  5. If OTrader is open on either computer close the program before proceeding.
  6. The folder saved in step 2 now needs to be saved to the new computer at ‘C:\Documents and Settings\[User Name]\My Documents\’
  7. When saving the original data files to the new computer you may be prompted to overwrite an existing file. Select yes to continue.
  8. Transferring the files is now complete.
  9. Open OTrader.
  10. When running OTrader for the first time it will look for the default portfolio named Otdata. If you created another portfolio on your old computer from inside OTrader use the File > Open method to connect to the portfolio.
  11. To change the default portfolio OTrader connects to at start-up go to Edit > Preferences & Setup > Default Settings and select a new portfolio for the default portfolio.

How do I re-install OTrader?

  1. Backup your old portfolio by using windows explorer and going to My Documents/My OTrader Portfolio
  2. Make a copy of all the folders located inside My OTrader Portfolio to another location
  3. Un-install the old version by going to your Computer Control Panel > Add remove program > OTrader > Remove
  4. Download the new version from here
  5. Run the newly downloaded file and follow the on-screen instructions
  6. Start OTrader to ensure it is working correctly.

Updates – How do I receive updates?

Question:

How do I update Roo-Trader?

Roo-Trader will check for any program updates when you start the application.

You will be prompted to update now, or wait until later. Roo-Trader will continue to work unless this is a critical bug fix. Only then would we force you to update before using the application. We are trying to not disrupt your work!

Roo-Trader Updates

Roo-Trader will notify you of any pending updates. You can choose to update now, or wait until later. Note: The updates stop when if you no longer pay for the yearly maintenance fee.

If you pay the yearly maintenance fee, Roo-Trader will continue to pull updates. If you decide to not pay the yearly maintenance fee, the software will continue to work at the older revision level. However, you will not receive support or updates after that time.

 

Licensing (3)

How do I enter in my registration code?

Go to the Help > Activation > Activate Software. Enter in the details provided to you by OTrader when you registered. The codes must be exact therefore it is recommended that you cut and paste the codes into the required fields. Ensure you do not inadvertently add any blank spaces before or after the code.

Pricing? Please explain your purchase price and maintenance fees!

Questions:

How much does it cost?

Is the price ownership of the program or an annual fee?

Currently, Roo-Trader is $149 for the first year and $99 to renew each year.

Renewal means you will be able to get updates and support for another year, if you don’t renew you still can use the software with full features but you will no longer be eligible for software updates and support.

The software does not terminate or stop working on purpose after your one year anniversary. It does stop pulling software updates from our web site.

 

 

Updates – How do I receive updates?

Question:

How do I update Roo-Trader?

Roo-Trader will check for any program updates when you start the application.

You will be prompted to update now, or wait until later. Roo-Trader will continue to work unless this is a critical bug fix. Only then would we force you to update before using the application. We are trying to not disrupt your work!

Roo-Trader Updates

Roo-Trader will notify you of any pending updates. You can choose to update now, or wait until later. Note: The updates stop when if you no longer pay for the yearly maintenance fee.

If you pay the yearly maintenance fee, Roo-Trader will continue to pull updates. If you decide to not pay the yearly maintenance fee, the software will continue to work at the older revision level. However, you will not receive support or updates after that time.

 

Technical Assistance (3)

Are cookies a security risk?

No. Because cookies read information on your hard drive, some think this means they give access to all the information on your computer. Our commerce system encrypts all cookies and they cannot be read by any other web page. The cookie actually contains no personal information, just a unique identifier for our system to recognize this browser.

How do I set up my browser to accept cookies?

If you’re using Internet Explorer, go to the View menu and select Internet Options. Within the Internet Options window, select the Advanced tab at the top right, scroll down until you see a selection titled “Cookies” and make sure the “Always accept cookies” box is checked. If you’re using Netscape Navigator, go to the Options menu and select Network Preferences. Within the Network Preferences window, select the Protocols tab. There is a heading titled “Show an Alert Before” and a check box next to a selection titled “Accepting a Cookie”. If this is not checked, you will automatically accept cookies without being warned by your browser.

Roo-Trader – How do I send the Error Log

If you encounter a problem with Roo-Trader, our team can help solve the problem. For some issues we need to review the log file from the Roo-Trader software. There is no user information, or financial information in this file, just how the application is behaving.

To send it to our team, you can find this file in: Start (Windows orb) -> Documents-> My Roo-Trader Portfolio -> RooERROR.log

Just copy it, add it to your email message and send it to our support email address.

Thank you!

William

Top 10 (6)

I have purchased OTrader and it says Un Registered. How do I register OTrader?

If you have purchased OTrader you will need to enter your license key before the product is activated. You can log in from here to view your license key. If you have forgotten your user name or password you can request a new one to be sent to your from the same page. Once you have logged in go to your control panel by clicking My OTrader Account which is located at the top right of the screen. Once in your control panel click view my license key. You will then need to enter the license key in to the software. Enter the key by going to Help > Activation > Activate Product. Now follw the onscreen wizard to complete the activation.

I lost my OTrader CD how do I reinstall OTrader?

You can download the latest version of OTrader any time by going to the downloads page located here

I have OTrader version 3.x.x and want to upgrade to 4.x.x. How do I do this?

You can download the latest version of OTrader anytime by going to the download page located here. You will also need to view important information about upgrading here

I have lost my login details. How do I retrieve them?

You can request your password to be sent to your email address from the log in page located here The system will send the details to the email address you used when you registered on the website. If you have changed your email address then please contact support with the following details: Your old email address Your full name The new email address.

I need to take my figures to my accountant. What do I print out?

Your accountant will require your profit loss for the selected period your reporting on. You can print reports of your trading activity by going to Portfolio > Reports The reports you need to take with you are: Profit/Loss Summary: Profit/Loss Detail: Trading Costs & Interest and Fees

I get an Error xxxx message- no valid source for installation package or internal error xxxx

This can happen if another program has changed the file version of one of the files OTrader uses or a file has been deleted. Follow these steps to reinstall the program.
  • It is highly recommend you do a backup before re-installing the program. As you can not access the program you will need to do a manual backup.
  • To complete a manual backup follow these steps:
    1. Use Windows Explorer to navigate to C:\Documents and Settings\{your log in name}\My Documents (where {your log in name} is the name you use to login to your computer. Note: Win 98, Win ME users will not have the user name in the path)
    2. Make a copy of the folder My OTrader Portfolio to a new location.
  • Download the current version for your license key fromhttp://www.otrader.com.au/accounts/dload.asp
  • Run the newly downloaded file and follow the on-screen instructions.
  • Run OTrader by double clicking the OTrader icon on your desktop.
  • Ensure all your data is correct.
What if my data has been lost?
  • Close OTrader
  • Use Windows explorer to navigate to the location where you saved a copy of the My OTrader Portfolio folder.
  • Copy the My OTrader Portfolio back to C:\Documents and Settings\{your log in name]\My Documents. (where {your log in name} is the name you use to login to your computer. Note: Win 98, Win ME users will not have the user name in the path)
  • Open OTrader and ensure the data is correct.
 

Viewing Trades (4)

When updating open positions with a current price my open Portfolio window does not reflect the new figures.

You need to close the Portfolio Window and reopen it to display the new values.

In View Trades I cannot see my open trades and I have not closed them. Where have they gone?

Sometimes this occurs if you have not selected the correct month or the “All Trades” option in the “Select Month” dropdown list box at the bottom of your View Trades window.

Why does my stop loss appear to be a smaller figure than that which I specified in the program setup?

This is because you have checked the “Include fees in Profit/Loss calculations” option in Program Setup. Essentially your stop loss takes into account any fees you incurred as a part of the trade and is not based solely on the contract value. To change this is not recommended however the option is available for you to do so. Do this by going to Program Setup, select the Default Settings tab, and de-select the checkbox adjacent to “Include fees in Profit/Loss calculations. NOTE: These settings also affect the profit target figures in the same fashion!

How do I update the current price of my trade?

Firstly open the View Trades window. Scroll across until you reach the column entitled “Current Market Price”. Double click the field within this column relative to the trade you wish to update. Enter in the required figure in dollar format.

Written Options (7)

When entering a trade there are times when I am charged non standard brokerage. What should I do?

I notice that when I select my broker when entering my trade I cannot edit the figure to reflect the non-standard brokerage? In this case simply enter the trade details and select the applicable broker as you normally would for a standard trade. When you have saved your trade you can utilise the “Edit Trade” feature by right-clicking on the trade in the View Trades view. In the Opening Trade details section that appears on the right of the Edit Trade view you can modify the brokerage field values as appropriate. Remember to enter in the correct figures for the three fields relevant to Brokerage and OCH Fees.

Should I use the “Enter Trade” option or the “Write Option” when opening short positions?

You can do this either way. However the Write Option window allows you enter up to five trades simultaneously for the purposes of various options strategies. If the trades are entered through the write option window you will be able to view the trades as a complete strategy in the view trades window.

My trade requires me to provide margin. When can I enter this figure?

This figure can be entered into the “Required Margin” field in the bottom right of the “Enter Trade” screen. If you are using the write option screen then enter the required margin in the margin line in the grid.

How do I download OTrader?

You can download by clicking the downlaod now link located under the downloads menu. Where do I download the file? You can download the file anywhere you like, just make sure that you remember the location where you saved it, and the name of the file. If you choose Desktop this will be easier for you to install the product once you have completed the download. What will happen when I download? Once the download starts, you will see a box pop up with a status bar, and a percentage that will climb to 100%. What happens after I download? After the download has completed, you will need to go to the location that you saved the file at and double click on the new icon to start the installation.

I had to reformat my hard drive. Where can I access the latest version of OTrader?

You can download the latest version of OTrader any time by going to the downloads page located here

I have installed OTrader and it says Un Registered. How do I register OTrader?

If you have purchased OTrader you will need to enter your license key before the product is activated. You can log in from here to view your license key. If you have forgotten your user name or password you can request a new one to be sent to your from the same page. Once you have logged in go to your control panel by clicking My OTrader Account which is located at the top right of the screen. Once in your control panel click view my license key. You will then need to enter the license key in to the software. Enter the key by going to Help > Activation > Activate Product. Now follow the on-screen wizard to complete the activation. Enter your name not your email address. Your name is case sensitive. If you have not purchased OTrader you can upgrade to a fully functional version fromhere

Where can I download OTrader from?

You can download the latest version of OTrader any time by going to the downloads page located here.

Troubleshooting (1)

Roo-Trader – How do I send the Error Log

If you encounter a problem with Roo-Trader, our team can help solve the problem. For some issues we need to review the log file from the Roo-Trader software. There is no user information, or financial information in this file, just how the application is behaving.

To send it to our team, you can find this file in: Start (Windows orb) -> Documents-> My Roo-Trader Portfolio -> RooERROR.log

Just copy it, add it to your email message and send it to our support email address.

Thank you!

William

Windows 8 Compatibility

Since Windows 8 is relatively new, applications worldwide are still in the process of adjusting to its new features, but Microsoft has provided a way for these applications to run in its new OS.
Please follow this link for a tutorial on how make Roo-Trader (or any other application you might have) to run smoothly in Windows 8. Please follow the steps indicated.

Migration to Roo-Trader (1)

Creating a Roo-Trader version of your OTrader portfolio

To create a copy of your old OTrader portfolio for use on the new Roo-Trader application, just follow these simple steps:

1. Open Roo-Trader and navigate to Menu->Help->Import Tool (The Roo-Trader Import Tool will appear)
2. Under the “Import From” field select the following:
     Source Type: OTrader Portfolio ver 46 or greater (OTrader ver 4.1.29 up) – default.
     Source File: Select the file you wish to import from – click the three-dotted button

3. Under the “Export To” field set the following:
     Destination Folder: Select the folder you wish to save the new portfolio in Roo-Trader format (this is preset by default)
     Portfolio Name: Type a name for the new portfolio (this is also preset based on the name of your old portfolio but you may wish to change it)

4. Click “Start” button and importation of data shall commence.
5. After the new portfolio has been created, you may now open it in Roo-Trader by navigating to Menu->File->Open then select the newly created portfolio.

 

Compatibility (1)

Windows 8 Compatibility

Since Windows 8 is relatively new, applications worldwide are still in the process of adjusting to its new features, but Microsoft has provided a way for these applications to run in its new OS.
Please follow this link for a tutorial on how make Roo-Trader (or any other application you might have) to run smoothly in Windows 8. Please follow the steps indicated.

Reports (2)

Do you show % gain/loss per trade and per account and for the entire portfolio?

Question:

Do you show % gain/loss per trade and per account and for the entire portfolio?


Yes, both visually (through the View Trades window), and the reports (several report formats have been provided for P&L and they indicate the %).

If your portfolio contains several accounts, you must filter your data per account to get a total PL% for that particular account, filtering of data is done by selecting the account on a dropdown list.

Can I export my report to a PDF for my accountant?

Question:

Can I export my report to a PDF for my accountant?

Yes, Roo-Trader produces PDF and Excel formats. It includes many pre-built reports and we can customize reports based on user feedback. We continue to add reports that our clients find useful.

Roo-Trader Report Menu

A screenshot from the report section of Roo-Trader version 6.

Data Entry (3)

Can I import my trade data from my broker?

 Question:

Can I import my trade data from my broker?

No. Unfortunately, there are thousands of brokerage houses around the planet. We have not found an elegant way to import historical data yet. This is a concern, and one that we keep trying to solve. However, given a global audience, and so many different formats, we are still searching for an answer.

Roo-Trader imports price updates automatically from the public web services.

Does Roo-Trader update price information?

Question:

Does Roo-Trader update price information?

Yes, Roo-Trader imports stock price updates automatically from the public web services.

Covered Calls

There are two methods to enter a covered call: (Thank you to Glen for his description and example!)

Method #1  (Assume you don’t already own stock):
1.      Use “Multiple Leg Trade” Entry Screen, choose “Short Call” from Saved Strategies dropdown box, then Save Template as “Covered Call”.
2.       Enter the trade (1 contract July short Call option on Facebook with a strike of $30)
3.      Using the View Trades with Strategies Tab locate this new entry.
4.      Right Click and choose Add Leg to Strategy.
5.      Enter a trade for 100 Shares of Facebook
6.      Voila!  – a covered call strategy in Facebook  exactly as I wanted.
 
Method #2 (I already bought 100 Facebook shares last month and now I want to Sell a Call against these shares):
1.      Using View Trades with Open Positions choose these shares.
2.      Right Click and choose Convert to Single Strategy.
3.      This creates an un-named strategy with just the equity in it.
4.      Back to View Trades with Strategies Tab and find “Total for Strategy #xxx: [FB]”
5.      Choose the trade, Right Click and “Add Leg to Strategy.
6.      Enter the trade for the 1 contract July Short Call of Facebook
7.  This strategy doesn’t have a nice name.
 

Getting Started (3)

Can you provide/post a short demo video showing salient features of Roo Trader?

Question:

Can you provide/post a short demo video showing salient features of Roo Trader?

We have some demonstration videos for the old version (OTrader).

Tutorial

We have focused on getting the current release out and have not built our new videos yet. The Otrader videos are close, but the interface has changed. We are working hard to get the tutorials, and getting started videos updated.

How do I get started?

Question:

I just installed Roo-Trader. How do I get started?

The first time, you will be prompted to use the setup started wizard.

The main window should have show a link to the setup wizard.

If you did not see the link, go to Help/Setup Wizard. This will give you the menu pictured below. Just walk through the steps and then start entering your trades!

The Setup Wizard for your Profile

Under Help/Setup Wizard you can start configuring your profile information. You can also edit all of the information by going to File/Profile when you want to change a setting later.

You may also edit all of the information by going to File/Profile when you want to change a setting later.

DDE Price Updates and Pulling Prices From Your Broker

If you have a paid subscription with a option price data provider or your broker provides that data to you via a paid account, you can change the default settings in Roo-Trader. To point to the new location for pulling pricing data do the following:

DDE PRICE UPDATES
To update prices via your Broker/DDE, go to: Menu -> Edit -> Preferences & Setup -> DDE (Price Updates).  Select the DDE program you have access to (Auto DDE Program Setup) and set the necessary parameters as provided by your DDE account.  Your DDE provider should have a web page showing their parameters. Use these to input your data. If your provider is not in the list, we are sorry but it is not currently supported.

 

DDE (2)

DDE Price Updates and Pulling Prices From Your Broker

If you have a paid subscription with a option price data provider or your broker provides that data to you via a paid account, you can change the default settings in Roo-Trader. To point to the new location for pulling pricing data do the following:

DDE PRICE UPDATES
To update prices via your Broker/DDE, go to: Menu -> Edit -> Preferences & Setup -> DDE (Price Updates).  Select the DDE program you have access to (Auto DDE Program Setup) and set the necessary parameters as provided by your DDE account.  Your DDE provider should have a web page showing their parameters. Use these to input your data. If your provider is not in the list, we are sorry but it is not currently supported.

 

Default Stock and Options Prices from Yahoo Finance Price Updates

When using the default settings for pulling price updates everything is set to pull from Yahoo Finance. However, if you made a change, you can verify the default price settings.

Yahoo update setting can be found here:
Menu -> Edit -> Preferences & Setup -> Default Settings
Under “Yahoo options data feed (for pulling price updates)”, make sure you have selected “Use Saturday date following expiry date (default)”.  The reason for this is Yahoo keeps its records of Options Prices using the date of the Saturday following the Friday expiry date.

OPTIONS PRICE UPDATE
Please make sure the security code was set to the proper Exchange (if not then it will not be able to update the price because it will attempt to get the updates from another exchange).  You can verify if you have set the proper Exchange by going to Menu -> Edit -> Security Codes, look for the particular Code in your Codes List then click the pencil icon to edit.  Make sure you have set the following correctly
Security Code: The official code (e.g. AAPL for Apple)
Exchange: The Exchange where the code is listed
Option Type
Update Via: Set this to Yahoo Price Update by default

Make sure on the trade entry, you have also set the proper Expiry Date (usually the 3rd Friday of the Month, NOT the date of the 3rd Saturday as used by Yahoo)

Price Updates (1)

Default Stock and Options Prices from Yahoo Finance Price Updates

When using the default settings for pulling price updates everything is set to pull from Yahoo Finance. However, if you made a change, you can verify the default price settings.

Yahoo update setting can be found here:
Menu -> Edit -> Preferences & Setup -> Default Settings
Under “Yahoo options data feed (for pulling price updates)”, make sure you have selected “Use Saturday date following expiry date (default)”.  The reason for this is Yahoo keeps its records of Options Prices using the date of the Saturday following the Friday expiry date.

OPTIONS PRICE UPDATE
Please make sure the security code was set to the proper Exchange (if not then it will not be able to update the price because it will attempt to get the updates from another exchange).  You can verify if you have set the proper Exchange by going to Menu -> Edit -> Security Codes, look for the particular Code in your Codes List then click the pencil icon to edit.  Make sure you have set the following correctly
Security Code: The official code (e.g. AAPL for Apple)
Exchange: The Exchange where the code is listed
Option Type
Update Via: Set this to Yahoo Price Update by default

Make sure on the trade entry, you have also set the proper Expiry Date (usually the 3rd Friday of the Month, NOT the date of the 3rd Saturday as used by Yahoo)

Covered Calls (1)

Covered Calls

There are two methods to enter a covered call: (Thank you to Glen for his description and example!)

Method #1  (Assume you don’t already own stock):
1.      Use “Multiple Leg Trade” Entry Screen, choose “Short Call” from Saved Strategies dropdown box, then Save Template as “Covered Call”.
2.       Enter the trade (1 contract July short Call option on Facebook with a strike of $30)
3.      Using the View Trades with Strategies Tab locate this new entry.
4.      Right Click and choose Add Leg to Strategy.
5.      Enter a trade for 100 Shares of Facebook
6.      Voila!  – a covered call strategy in Facebook  exactly as I wanted.
 
Method #2 (I already bought 100 Facebook shares last month and now I want to Sell a Call against these shares):
1.      Using View Trades with Open Positions choose these shares.
2.      Right Click and choose Convert to Single Strategy.
3.      This creates an un-named strategy with just the equity in it.
4.      Back to View Trades with Strategies Tab and find “Total for Strategy #xxx: [FB]”
5.      Choose the trade, Right Click and “Add Leg to Strategy.
6.      Enter the trade for the 1 contract July Short Call of Facebook
7.  This strategy doesn’t have a nice name.
 

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