The OptionsPlay window will automatically populate with suggested strategies about the stock you are viewing.
You can also select a stock in the Watchlist, or enter a symbol in the Symbol Entry Box while the OptionsPlay window is open.
Stock Header & Sentiment
At top you will see a Header with basic stock quote information, and Trend sentiment from OptionsPlay.
Below that you can set an overall stock sentiment with the “I’m Bullish” or “I’m Bearish” links. Initially, these will be set automatically based on the Chaikin Power Gauge Rating for the stock.
Based on the selected sentiment, OptionsPlay will suggest 3 strategies:
1. a Buy or Sell of the underlying shares of the stock
2. a Put or Call of the underlying shares of the stock
3. a Vertical Call strategy – typically one that will reduce the price of the long call and usually has a higher return if the upper strike price is met.
If you like any of the suggested Strategies, press “Trade” to see a Trade Panel populated with information necessary to execute that Strategy:
Other Strategy Info
Scroll down to see 5 tabs of other useful supporting information:
- P & L Simulator
- Plain English Strategy description
- Trading Range Simulator
- Risk and Investment Calculato
- Strategy Editor
Press “Income” to see suggested Covered Calls or Short Puts, which can be used as income generating positions.