#Options Strategy Test Feedback
Dear tiger
Kindly consider the following in multi leg strategy:
1) Time is of essence especially for fast trades. With regards to editing a trade already submitted in a multi-legs option, it would be most helpful if I can retrieve the trade & do an edit or have a "place a similar trade button " rather than need to redo the whole trade again. I don't seem to see this option in the app currently.
2) Does the app allow placing multi-legs trade on SPX? It seems I cant fo this wIth the app currently.
3) It would also helps to have a "roll" button for the same option at a further date in the future with options to select time frame or to roll "down/up" the strike price using the same expiry date rather than closing the whole multi- leg trade & replacing the order totally.
4) With regards to closing of "shares assigned/exercised" & its respective corresponding covered leg, (example closing assigned shares & buy leg of the sell put spread), it would be great if we could close this trade together like closing the spread when shares are not assigned can be done together. This would reduce the loss incurred in most situations. If I have to close the assigned shares & the buy leg separately it may result in incurring higher loss than the spread amount, even if I placed the closing instrucion together the trade is still closed separately, hence normally one leg get closed first leaving tge other at the mercy of market. Example I was assigned K on my sell put $67.5/65. Based on this contract, tecnically my maximum loss would be $250 if the trade is closed together. As the system does not have the option to close the assigned share & the buy leg together , I first sold the but leg for $425, then the price went south very fast, my shares was closed at $60.05 (loss in shares $745 less buy leg $425, nett loss $320) This $320 loss would only be $250 if I would be allowed to close the trade together. Of course in situation where K increase in price after I close my buy leg, & sell shares later, I would suffer a lesser loss. But if the trade is closed together the loss would be limited to that defined in the spread which is $250.
5) In terms of cost effectiveness for us traders, can tiger consider charging commissions regarding the multi-leg trade as one rather than charging commissions for each leg of the trade.
I appreciate your feedback on all the points raised above & I look forward to trade with ease using your improved app. I still applaud you for the efforts in improving the system & make it more competitive.
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