US based TD Ameritrade, a broker-dealer subsidiary of TD Ameritrade Holding Corporation (AMTD), announced the addition of a new feature called “Strategy Roller™” to its thinkorswim® professional-style trading platform.
The new feature allows retail traders to roll their existing option positions automatically, based upon user-defined settings chosen by the trader.
“Options use among retail investors continues to grow, and at TD Ameritrade, voted among the Best for Options Traders by Barron’s, we are constantly developing new ways to help our clients trade them in an educated, strategic way from the start,” said Steve Quirk, senior vice president of TD Ameritrade’s trader group. “We developed Strategy Roller to help our clients think more holistically about position management and to embrace technology and automation to encourage discipline.”
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The tool is designed to be intuitive and easier to use for traders who are new to complex order entry and management. The Strategy Roller shows traders how specific actions might affect their overall strategy, which can help them better understand the potential impact of their trading decisions. Initially, the Strategy Roller will be usable for covered calls, with additional functionality coming in the next couple months.
Additionally, a version of the Strategy Roller is now available within the thinkpipes® platform for independent registered investment advisors (RIAs). This version of the tool allows advisors to create alerts, again based upon user-defined settings, to help them more easily manage their clients’ covered call positions.
“We want to encourage investors, traders and advisors, regardless of the product they are trading, to consider the whole picture. What are your goals? What is your time horizon? How much risk are you willing to take?” Quirk continued. “Our new Strategy Roller helps option traders walk through that process. It provides education and encourages discipline, both of which are good for investors and the markets.”
The thinkorswim® platform also contains an in-depth Learning Center, which serves to educate investors on how to maximize the capabilities of the platform. There, clients can find a platform help manual, videos and other resources. The launch of the new Strategy Roller is complemented with a new video on the topic.