Spread Viewer

Multiple, multi-leg spreads can be defined and tracked in Spread Viewer. Each spread is displayed in toggled, collapsible, rows where either the spread summary or the names and legs are viewable. Each spread can be sent to other WTP applets, most notably Spread Builder where a spread can be executed.

From the WTP toolbar, select Analyze-->Spread Viewer.

Alternate Method:

From the WTP menu, select Spread Viewer.

Press the Add New Spread button to add a spread to the Spread Viewer. Two new lines (labeled <Leg 1> and <Leg 2>) will automatically be added as follows:

Leg parameters are defined on each line of the Spread Viewer grid.

Click on <Leg 1> to define a symbol from the drop-down list. Once a symbol is selected, select a side type, an Option command (Put or Call), a strike price, and root symbol.

Once the data has been added, the top row summarizes the symbol, expiration date, option, and strike price:

Continue by defining the parameters of <Leg 2>.

Press the Add Leg button to add a leg to the defined spread.

Alternate Method:

Press Insert on the keyboard.

A new row will open below the previous leg with a number that follows the previous leg number. Enter leg data (symbol, exp. date, strike, option, root). The top-most row summarizes the spread:

Additional legs can be appended to the existing spread by following the same procedure.

Toggle the View of the Spread

Toggle the top-most row in the Symbol column of a defined spread to reveal or hide the spread summary:

Spread Viewer hiding spread data

Delta Hedge can be selected instead of Accurate Hedge in a single option leg configuration.

The Accurate Hedge button inserts an Equity leg (or modifies one that already exists) to bring the total Delta for the order to zero. If the Delta is positive then a Sell Equity Leg will be inserted. Conversely, a Buy Leg will be added for negative deltas. Equity legs are added in lots of 100, so the Equity will only be added if the offending Delta is more than 50 (or less than -50).

In a single option leg configuration, Delta Hedge can be selected instead of Accurate Hedge by pressing the up arrow next to the button. When Delta Hedge is in force, the stock leg ratio is changed to 100 (or -100).

Note: If the legs are close to zero already, selecting Accurate Hedge will have no effect.

One or more legs can be deleted in a single pass.

Delete a single leg:

Click on the leg to be deleted. Press the keyboard's delete key or the Del button in Spread Viewer.

Delete multiple legs:

Hold down the Ctrl key and click on each leg to be deleted. Press the delete key or the Del button in Spread Viewer.

One or more spreads can be deleted in a single pass.

Delete a single spread:

Click on the row containing the spread. Press the keyboard's delete key or the Del button in Spread Viewer.

Delete multiple spreads:

Hold down the Ctrl key and click on each spread to be deleted. Press the delete key or the Del button in Spread Viewer.

Note: A deleted spread cannot be undeleted.

A quotes dialog table that displays quotes from selected exchanges can be viewed by pressing the Quote Dialog button.

The quotes table will display quotes from the security selected in the ticket. Current quote prices as well as the marketability of the quotes are shown. Quotes in green are marketable, quotes in yellow are possible.

By default all exchanges are selected in the quotes window. To disable an exchange from reporting in the quotes window, uncheck the box in the Enable column in the row of the exchange.

Launch Order Ticket from Spread Viewer

Spreads in Spread Viewer can be sent to the Order Ticket where it can be executed.

In the row containing the spread, double-click on the Bid or Ask fields. Order Ticket will launch for that leg only.

Launch Spread Ticket from Spread Viewer

To launch the Spread Ticket from Spread Viewer, double-click on the spread summary row in the Bid, Ask, or Mid fields.

Double-click on the Bid or Ask values on a leg to open the Order Ticket. The symbol field in the Order Ticket will reflect the leg's symbol.

Press the config button to open the configuration window.

Alternate Method:

From the Config menu select Configuration.

The available columns in the grid layout are configured in Spread Viewer.

Learn more about customizing columns here.

The Miscellaneous Tab

Enable Side Type Row Coloring—Check this box to display the Buy side in one color and the Sell side in another. The colors for Buy and Sell are configured in Global Configuration, on the Theme window.

In addition to sending orders to Spread Builder, a connection between Spread Viewer and other WTP applets can be created with the Send To--> command.