Portfolio Manager

In the world of stocks and futures trading, an order entry system is means of executing a trade over your computer. Aspen Research and optionsXpress have partnered to offer an order entry system that works with both the Aspen Graphics Workstation and optionsXpress.

While the optionsXpress Order Entry System is an application you can use independently of the Aspen Workstation, Aspen Research has developed this application to take advantage of the Aspen Workstation’s options analysis features.

The Aspen Workstation provides a variety of features that assist the serious options analyst. Two Aspen Graphics’ features—option chains and Profit & Loss charting—make the formation of optimal strategies a snap. Once built, trade execution is a simple drag-and-drop from the Aspen Workstation to the optionsXpress Order Entry System.

Aspen’s expansion macro enables you to list all an instrument’s options—calls, puts, or both—in a quote window so you can view pricing, theoretical values, and Greeks on all the strikes in a particular expiration. Chains enable you identify conversion and reversal opportunities, under-priced options, and other favorable conditions that make your strategies more profitable.

Figure 1 Building a strategy in Aspen Graphics

Similarly, option charts are equipped with a variety of studies, including Profit & Loss. Simply drag an option from a chain into the chart and the profitability of transaction plots at every price on the y axis, as shown in Figure 1. This immediate visual feedback, based on real-time data, enables you to build strategies that mitigate the risks you have identified in the market. Adjust the strikes you buy and sell, modify quantities purchased, whatever it takes to optimize your strategies prior to execution.

Finally, placing orders with optionsXpress could not be simpler. Just drag your strategy from the option chart’s Strategy Manager dialog to the optionsXpress Order Entry System.

Figure 2 Executing orders with the optionsXpress Order Entry System

Once you drop a strategy built in Aspen Graphics into the optionsXpress Order Entry System, the Multi-Trade Order Preview dialog appears showing the trades necessary to implement the strategy. You can place individual legs of the strategy, or submit all transactions in batch.

The optionsXpress Order Entry System also provides order forms designed to help you build popular strategies like the Condor, the Covered Call, the Butterfly Spread, and many others. Moreover, you can view all the trades you have placed with optionsXpress, as well as your optionsXpress Equity Balance.

As an options professional, you will find this new partnership between Aspen and optionsXpress a robust platform for reliable order entry.