Modifying Option Trade Entry Defaults |
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Modifying Option Trade Entry Defaults |
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Default values are initially assigned to Option Trade Entry dialog box fields by REDIPlus; a generic set of default values exists for all Symbols. You can modify the existing generic default values for all Symbols, and/or create a new set of default values by Symbol, and/or specify the default Commission by Exchange and Account combination.
The Option Trade Entry and Option Doneaway Entry dialog boxes share the same default settings, and entering default values for one will set the defaults for the other.
Right-click the Option Trade Entry dialog box, select Defaults from the shortcut menu, and the Option Trade Defaults dialog box appears.
The Underlying Symbol combo box contains the underlying symbol to which the Option Trade default values correspond; the value of <Default> indicates that the default values correspond to all underlying symbols that do not have their own set of defaults. Select the underlying symbol whose corresponding Option Trade default values you want to modify from the Underlying Symbol combo box, or, if the underlying symbol you want is not listed, enter it.
Once Option Trade default values for an underlying symbol have been saved (by clicking [Apply] or [OK]), the underlying symbol is added to the drop-down list of the Underlying Symbol combo box. You can remove an underlying symbol from the drop-down list by selecting it and clicking [Delete].
Enter the number of option contracts you want to default in the Option tab’s Contracts field in the Quantity field.
Enter the increment you want the quantity to increase
or decrease (when clicking the 
to the right of the Contracts field on the Option
tab) in the Quantity Increment
field. For example, if the Quantity
is 1 and the Quantity Increment
is 2, clicking the up arrow to the right of the field would increase the
quantity to 3, 5, 7, etc.
Enter the increment you want the option contract
price to increase or decrease (when clicking the to the
right of the Premium field on the Option
tab) in the Price Increment
field.
Select the Account number that will default for the symbol you selected from the drop-down list box.
Click [Apply], then select or enter another underlying symbol and repeat the process above. If otherwise finished modifying Symbol Option Trade default values, you can continue with the Commission values, or click [OK].
Right-click the Option Trade Entry dialog box, select Defaults from the shortcut menu, and the Defaults dialog box appears.
Click the Commission tab.
Select the Exchange and Account combination to which you want to assign a default commission value from the corresponding drop-down list boxes. The available values are based on your REDIPlus access rights.
Select the Commission Type (e.g., Per Order, Per Contract) you want to default for transactions corresponding to the Exchange/Account combination you selected.
Enter the Commission you want to default for the Exchange/Account combination you selected. The Commission field provides you with three different ways to enter this value:
Enter the value manually (i.e., key it in).
Increase or decrease the value by clicking the
to the right of the field.
Use the drop-down calculator (click 
).
If you select STD from the drop-down calculator, the standard commission associated with the Contra will be applied to the transaction.
Click [Apply]; then select another Exchange/Account combination and repeat the process above. If otherwise finished modifying Option Trade Commission default values, you can continue with the Symbol values, or click [OK].
