robinhood-options-mobile

Option Chain Screener & Strategy Builder

RealizeAlpha v0.23.0 introduces powerful tools for options traders: the Option Chain Screener and the Multi-Leg Strategy Builder. These features are designed to help you find the right contracts and construct complex strategies with confidence.

Option Chain Screener

The Option Chain Screener enhances the standard option chain view with advanced filtering and AI-driven insights.

Key Features

• Advanced Filtering: Filter options not just by expiration and strike, but also by:
  • Greeks: Delta, Gamma, Theta, Vega, Rho.
  • Market Data: Implied Volatility (IV), Volume, Open Interest.
  • Price: Bid/Ask spread, Last Price.
• AI Recommendations: Tap the “AI” button to get intelligent contract recommendations based on current market conditions and your trading goals. The AI analyzes the option chain to suggest contracts with favorable risk/reward profiles.
• Visual Indicators: Quickly identify high-volume or high-IV contracts with visual cues directly in the chain.
• Custom Presets: Save your favorite filter configurations as presets for quick access.

How to Use

1. Navigate to any instrument’s detail page.
2. Tap on “View Options”.
3. Tap the Filter icon (top right) to open the screener settings.
4. Adjust sliders for Greeks, IV, and other metrics.
5. Tap Apply to see the filtered list of contracts.
6. To use AI, tap the AI button in the filter sheet or on the chain view (if available) to generate recommendations.

Multi-Leg Strategy Builder

The Strategy Builder allows you to construct and analyze complex multi-leg options strategies.

Supported Strategies

• Vertical Spreads: Bull Call Spread, Bear Put Spread, Bull Put Spread, Bear Call Spread.
• Straddles & Strangles: Long/Short Straddle, Long/Short Strangle.
• Iron Condors: Long/Short Iron Condor.
• Butterflies: Long/Short Call/Put Butterfly.
• Custom Strategies: Build your own custom multi-leg strategies.

Key Features

• Visual Payoff Diagrams: Visualize your potential profit and loss at expiration with interactive charts. See your break-even points and max profit/loss at a glance.
• P&L Analysis: detailed breakdown of estimated P&L at different price points.
• Strategy Greeks: View the aggregated Greeks for your entire strategy to understand your net exposure.
• Leg Selection: Easily select and modify individual legs of your strategy from the option chain.
• Order Preview: Review your strategy, estimated cost/credit, and risk metrics before placing the order.

How to Use

1. Navigate to an instrument’s detail page.
2. Tap on Strategy Builder (or “Trade” -> “Strategy Builder”).
3. Select a strategy template (e.g., “Vertical Spread”) or start from scratch.
4. Select the expiration date.
5. Tap on the legs to select specific contracts from the option chain.
6. View the Payoff Diagram to analyze the strategy’s risk profile.
7. Adjust quantity and price.
8. Tap Preview Order to review and submit.

Integration

Both features are fully integrated with the rest of the RealizeAlpha ecosystem:

• Real-time Data: All data is streamed in real-time (brokerage dependent).
• Portfolio Integration: Strategies are tracked as multi-leg positions in your portfolio.
• Risk Management: Use the Strategy Builder in conjunction with Advanced Risk Controls to ensure your trades align with your risk tolerance.