OptionsXpress (OXPS) announced some additions to its software platform today to meet the needs of active stock and options traders.
First, the company added real-time, streaming updates for options chains within web browsers. I wasn’t aware optionsXpress’ platform didn’t have this functionality, but it is definitely a plus. Options prices can change a heck of a lot faster than stock prices so real-time quotes are an absolute must.
* Broken-Wing Butterflies – Construct butterflies with non-standard ratios such as 1:2:2 and 1:3:1.
* Unbalanced Butterflies – Set up butterflies with asymmetric (uneven) strike price differentials.
* Ratio Spreads – Enjoy additional free-form spreading options.
That’s their language folks, not mine. Put and call spreads are about as complex as I get when it comes to options.
Other new stuff includes the addition of futures to the Trading Patterns(c) tool and online access to shareholder-related services via Inveshare – that’s for stuff like prospectus delivery and proxy voting.
It’s good to see companies like optionsXpress and thinkorswim continuing to roll out new features for their trading platforms. Competition is good for us investors and traders – if every broker has to work harder to get our business, quality will continue rising will prices will keep falling.
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