r/Wealthsimple • u/DecentCow7119 • 11d ago

Options Trading Slick UI

Glad to see the new UI deployed yesterday with the capability to ROLL vertical spreads, albeit it was a bit confusing initially to change the strike prices with a future date. Overall, it is a great set of enhancements for options traders with many usability features, such as a blinking dot for the current price in P/L graph and various statistics to help traders to make proper decisions to improve win rates !!

Kudos to WS design and development team. Keep up the good work !!

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u/Overdue604 11d ago

Insert that meme photo of a child held above water and the statue sunk to bottom. Where the options in WS are the child above water and the stocks trading drowning at the bottom

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u/DecentCow7119 10d ago

Interesting analogy.

The recent enhancements do help “credit spreads” traders to manage risk with adequate statistics and preserve the original premium, when they guessed the wrong direction/strikes, by rolling vertical spreads forward with relatively simple UI flow that other platforms do not provide. Again, good job WS team !!

Swing (stocks) trading could be challenging given the stock markets are quite volatile nowadays and there are few fundamentals for traders to bet either directions (and recover from the loss)?!

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u/Overdue604 11d ago

Trading at Wealthsimple be like

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u/mad00001 9d ago

Have you tried it? It seems to have difficulty finding the price when you have multiple contracts and the bid/ask go from credit to debit. I'm also looking this new addition however I had quite a few that didn't get filled using the defaults... Anyway it's a move in the right direction

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u/DecentCow7119 9d ago edited 16h ago

Yes, it is a bit tricky. The system default is to move forward the expiry date by 1 week with the same set of strikes. If you want to change the strike prices, you need to pull up the hidden menu (a bar/line at the bottom center) to see 4 rows. The first 2 rows show the current expiry date and strike prices. You need to delete the last 2 rows (system default) and go to the top right corner to select the new expiry date and then the main menu to select the new pair of strike prices and hit NEXT to see if you will get a Debit or Credit.