Platform
Trade from the chain, see the risk before Send.
A chain for any expiry, a ticket that knows the spread you just clicked, and your broker's own margin and commission for every account before anything is sent.
Chain and ticket
Click the bid to sell, the ask to buy
Pick an expiry and the chain shows bid, ask, delta and IV for every strike. Click a quote and the leg lands in the ticket; click another and you have a spread; keep going for a condor.
The ticket names the structure and prices it at mid or natural. Once it is working, the Orders panel walks the order toward mid in steps.
Each leg you click lands in the ticket with its strike, side and quote.
Review
Your broker's numbers, not ours
Before Send there is a Review. It asks Interactive Brokers what the order does to each account: the change to initial and maintenance margin, and the commission.
The ticket also shows the risk at expiry per lot as figures: max profit, max loss, breakevens, delta and theta. The Payoff explorer draws it.
The broker's what-if margin and commission per account, shown apart, never summed.
Templates
Start from a strategy, not from scratch
The Template picker holds 29 strategies for index options such as SPX, and 40 with futures, in five groups: up trend, down trend, volatility, arbitrage, and our own picks (iron condor, iron butterfly, broken-wing butterfly on puts, calendar and diagonal). Each has a small P/L sketch; star the ones you use most, or filter by name.
Point at a strike on the chain, choose how many listed strikes apart the legs are, and the legs land in the ticket. Edit them there, then go through Review as usual.
29 templates for index options such as SPX (40 with futures), placed around the strike you point at.
Payoff
See the trade at expiry and before
The Payoff explorer opens from a Payoff button on the ticket or on a position, with your broker connected. It draws P/L at expiry and at any date you pick with a slider, lets you shift IV up or down for the whole position, and gives a readout under the cursor and a P&L table by price and date.
Beside the chart: max profit and loss, breakevens, chance of profit, the credit or debit, position delta, gamma, theta and vega at the chosen date, and the broker's margin. Add, flip or drag legs, then send the result back to the ticket.
Coming greek curves, per-leg IV and saved scenarios.
Solid line at expiry, dashed at the date you choose, for one account at a time.
Accounts
One order, several accounts
Set lots for each account on the same ticket. Every account gets its own what-if, its own fills and its own line in the blotter. No figure adds accounts together: each account is its own pot of money.
Interactive Brokers accounts today; more brokers coming. For asset managers →
Lots are set per account; each account's figures stay its own.
Positions
Positions, grouped your way
Each position shows its legs and its P/L, and opens its payoff chart from its Payoff button. Close, roll or adjust it from the position itself.
Group positions by algo, symbol or account.