Trader Workstation Tutorial – How to Trade Options in TWS

Learn to trade options using quantitative methods – check out the Comprehensive Trading Course at www.cltoptions.com

This tutorial is split into 3 parts:
Part 1 – Setting up TWS for options trading – 0:40
Part 2 – Using TWS (creating positions, orders, etc) – 11:56
Part 3 – Helpful Hints – 22:54

IB post about increasing Java memory: https://www.interactivebrokers.com/en/software/tws/usersguidebook/priceriskanalytics/custommemory.htm

Social Media Links:
https://www.facebook.com/CLTOPTIONS/
https://twitter.com/CLT_Options
https://stocktwits.com/CLT_Options

Follow my returns at the CLT Options trading log:
https://www.cltoptions.com/single-post/2017/09/05/CLT-Options-Trading-Returns

Comments

B7S1 says:

Great presentation, thank you! Well explained and much easier to follow than what IB has. May I ask for a tutorial on how to set up a conditional order? For example: if underlying goes above a certain threshold, then place an option order at a limit price or if underlying goes above a certain threshold close an option position.

Ezekiel P says:

There is what I consider to be an important difference between stable and beta at the moment. On the strategy builder you demonstrated (stable) you can only submit the order. In beta the strategy builder allows you to construct the spread and ‘Add to Watchlist’ so you can monitor it before submitting it. This is a crucial feature for me as it allows me to create several spreads quickly and place them on my watchlist. With stable, you need to flip over to Classic TWS and construct a spread with one of several tools and then add or drag the spread onto the sheet in order to monitor it.

Virendra Sadana says:

Excellent video, learn few good pointers. Like the way you have explained. Thanks and keep making the videos.

Prodigy Defender says:

Could you do a video on the application of Imp. VOL and Multi Vol Skew on option contract? Subscribed.

Thomas Krueger says:

I started trading with Mr Williams strategy right from the very first day i saw great comments online on how profitable his strategy is, a week later i invested $5000 and then i really saw how much you can earn from his trading strategy. i now make about $40,000 a month, you can also benefit from his strategy by contacting him .. (Williamsdevid1952@gmail. com)

Jean Marchand says:

Great job. Very helpful

droneX w says:

Thaks CLT ,, especially when putting credit spread. Is there a way to display Probability for ITM , ATM or OTM on each strike on option chanin

phil markey says:

I am a new subscriber to your youtube chanel and am new to the TWS
I like to trade options , I don’t use spreads/ legs and only go long anticipating the market to trend bullish with my trading strategy
My question is how do I exit a call option once I am happy with the profit the market has returned
I know how to enter (call/ask) but how do I exit this trade and take profit , I usually don’t stay in the option trade for too long 1 – 5 days only
If you already have a video explaining this process could you forward the link please or perhaps send me a quick vid on how to achieve this would be greatly appreciated

Al bay says:

commission estimate in order preview window. 1.35 to 3.19 per contract. this is a huge difference. which one is it? if you trade a lot of contracts at 3.19, it makes this brokerage the worst one around. just opened an account with them, called customer service, they said exchanges charge up to 70 cents per contract, total bull, exchanges charge less then a cent. will be closing the account, IB is a total scam, at least for Canadian customers.

Pedro Eduardo Braz says:

Hi I was looking where you’re explained how to increase memory availability in TWS workstation but I can’t find it. could you help me because it frozens sometimes. Regards

illusionist says:

10 – 15 minute delayed??

Michael T says:

Thanks Brandon. This was excellent!

Isaac Charles says:

How to put a stop on an option trade in interactive brokers?

amberbamber69 says:

Why doesnt the window showing the legs open on TWS for me? Each buy and then a sell open in the order entry window over the top of each other. I dont get the screen you get.

WMC says:

how do you add empty space to the right of the bars like in TOS? God this platform is shit.

BSky says:

Excellent

Iglesias Boris says:

Hello, nice video, I have a question. How can I set an automatic close a 50% for credit spread? thank you..

Mitch says:

Hey
Thanks a bunch for this great tutorial!! Best on the net currently for options perspective. I’m currently making the move over to them and your videos are great help. In fact IB should take note because they do not seem to have a clue!! Thanks again!

Mahesh Hande says:

Excellent ,Thanks a lot Brandon

Jason Dinkel says:

Great Video. Thank you. At 13:40 the strategy builder shows in a popup window. On TWS beta (Build 970.0h) I am able to check a box at the bottom of the option window that embeds the strategy builder. It’s much nicer than the popup. Hope that’s helpful for some of you. And I have a question – how can I analyze positions with the Strategy Performance Graph? I see how to add the window but how can I put multiple positions from the portfolio into the analysis and how can I add a simulated position to the analysis before placing the order? Thanks!

Jake Smith says:

Thank you so much!
I really enjoyed your review video about this broker

I’ve recently opened an account with IB and I’m waiting for my funding to get through and look forward to more videos to learn more

Matt Hepburn says:

Excellent tutorial ! Thanks Brandon 🙂

 Write a comment

*

Do you like our videos?
Do you want to see more like that?

Please click below to support us on Facebook!