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OptionStation Pro Features

Spread Search

  • Spread Search
    Magnifying Glass

    Search Spreads In Seconds

    The search allows you to quickly run an option search that constructs and analyzes thousands of spread combinations in seconds, based on your underlying price and time projection. The results can be ranked by various spread characteristics such as Max Risk, Probability of Profit or Projected Profit.

  • Search By Strategy

    Search By Strategy

    You can search spreads based on your strategy or strategies – for example, selecting among individual standard spreads, bullish groups or bearish groups of spreads.

  • Filter Search Results

    Filter Search Results

    The search can be filtered by calls, puts, longs or shorts.

  • Rank Search Results

    Rank Search Results

    Search results can also be ranked by factors such as probability of profit and projected profit.

  • Further Analyze Search Results

    Further Analyze Search Results

    When the search is complete, the spreads can be further analyzed from the Theoretical Positions panel by pressing the Analyze button.

Option Chains

  • Option Chains Magnifying Glass

    View Option Chains

    The versatile option chains tab allows customization of spread type, strike intervals and expiration intervals. Spreads can be traded right from the options chain panel with two simple clicks.

  • Choose Spreads

    Choose Spreads

    OptionStation Pro has about 15 different spreads from which to choose.

  • Configure Options Chains

    Configure Options Chains

    Option chains are configurable to display variable strike and expiration intervals. OptionStation Pro refreshes the bid/ask and all other columns in the chain as the intervals are changed.

  • Adjust Column Layouts

    Adjust Column Layouts

    Most panels have adjustable column layouts that you can select from scores of columns to display in the panels.

Analysis, Graphing, and Position Management

  • Analysis and Graphing
    Magnifying Glass

    Integrated P/L Tracking

    There’s no need to create a separate Excel spreadsheet to track your spread P/L since OptionStation Pro tracks Open P/L, Estimated Closing P/L, Estimated Closing Cost and more for each of your custom created spreads.

  • Adjustable Price Slices

    Adjustable Price Slices

    Price slices in the 2-D graph allow you to check P/L and Greek values at adjustable underlying prices. Just use your mouse and slide the price slice to the underlying price of interest.

  • Adjustable Probability Cones

    Adjustable Probability Cones

    A probability cone is located below the risk graph so it can easily be compared to the spread strike prices. The cone volatility can be specified using VIX, historical, or a trader-entered fixed volatility.

  • Compare Pricing Models

    Compare Pricing Models

    You can select from two different types of options pricing models.

  • Position Management

    Integrated Spread Management

    From the Real Positions panel, you can track key metrics such as Estimated Closing Price, Estimated Closing P/L, Estimated Closing Cost and Open P/L for each spread.

  • One-Click Position Management

    One-Click Position Management

    You can create, manage and even close or roll your spreads right from the Real Positions panel.

Order Placement

  • Order Placement
    Magnifying Glass

    Order Placement Options

    OptionStation Pro allows you to quickly trade singles and spreads right from the option chain. Use right-click selection or Control-left click selection to open the Order Bar and send the order directly to the market.

  • Order Bar

    Order Bar

    The OptionStation Pro order bar is a versatile order placement tool that is used to open, close and roll spread positions. It also performs cancel/replace, duplicate and opposite order actions.

  • Orders Tab

    Orders Tab

    You can view all your orders and cancel/replace orders right from the orders tab.

  • Real Positions Panel

    Real Positions Panel

    You can also create, manage, close or roll spreads from the Real Positions panel.

Customizing OptionStation Pro

  • Adjustability
    Magnifying Glass

    Unlimited Customization

    OptionStation Pro’s customization capabilities are far reaching – from font, themes and graphs to position management, panel arrangement and pricing model selection.

  • Appearance


    You can adjust how OptionStation Pro appears on your computer screen by selecting among three dark and three lighter, more printer-friendly themes.

  • Fonts


    OptionStation Pro can be set to one of five font sizes to better suit your visual preference.

  • Spread Types

    Spread Types

    The option chain setting can be adjusted to display one of about 15 different standard spreads.

  • Symbol Linking

    Symbol Linking

    The symbol linking feature allows option symbols to be linked to other applications within TradeStation.

  • Column Layouts

    Column Layouts

    Most panels have adjustable column layouts that you can select from the scores of columns to display in the panels.

  • Side Out Settings

    Side Out Settings

    Settings can be easily adjusted with the side out settings panel. When you’re finished, just slide it out of the way for later use.

  • Graph Display

    Graph Display

    The 2-D graph can be set to display between one and four plots.

  • Show/Hide Options

    Show/Hide Options

    OptionStation Pro enables you to display or hide weekly, quarterly, non-standard and mini options from the Settings panel.