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Trading Options Using IBKR Mobile on the Android©

Lesson 4 of 9
Duration 6:45
Level Beginner
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The IBKR Mobile Option Chain lets the investor easily trade single and multi-leg options. The Option Chain contains innovative tools such as the IBKR Options Wizards and spread templates.

Study Notes:

Accessing the IBKR Mobile Option Chain

IBKR Mobile Option Chains allow the investor to easily trade single leg options and combinations. To access the Option Chain the investor taps the Menu icon in the upper left corner, scrolls down and expands the Trade menu, and taps Options. This will bring up a search bar as well as any recently searched companies beneath it. The investor then types a symbol into the Search bar and chooses the correct company from the results. A disclaimer will appear regarding the option tools which the investor should read and once done choose ‘OK” or “Don’t Show again” if they do not want to see the disclaimer each time.

Information Available in the IBKR Mobile Option Chain

At the top of the Option is the Underlying and directly underneath the investor sees the Market Data line which shows VWAP, various implied volatilities and option volumes. The investor can scroll through the bar to see all the data offered.

On the left of the next row are 3 vertical lines, the investor can tap on it to see Option Settings. The Option Settings screen will appear. At the top is the Layout area which by default shows Calls and Puts. The investor can also access the Option Wizard which we go over in the video, “Trading Options Using the Option Wizard” as well as Calendar spread, Vertical Spread, and Diagonal Spread.

Continuing down the investor can choose which exchange to route the order to. For IBKR Pro clients, IB Smart Routing is recommended.

The investor can choose how many strikes to display on the Option Chain by either number of strikes or standard deviation of the underlying as well as the maximum time period of expirations.

The Option Chain data columns can be edited by tapping on Manage Columns. Investors can choose from over 15 columns including pricing columns, Greeks, and volatility. Here the investor adds the “Option Open Interest” data column by tapping on the plus sign and then moves the position to the front by touching the three bars to the right and moving it to the top of the screen.

At the bottom choose whether to display weekly expirations and Market data. When satisfied with the Layout the investor taps “Done” to return to the Option Chain.

The investor can scroll through expirations at the top of the Option Chain and tap on the expiration that they would like to see. The investor can move the screen up and down to see additional strikes and side to side to see additional data columns.

Entering a single leg order using the IBKR Mobile Option Chain

To enter a single leg option order using the option chain the investor taps on the Ask if they want to create a buy order or the Bid if they want to create a sell order. Once selected an order drawer will appear at the bottom of the screen. Pulling the drawer up the investor will see details on the option selected such as the Performance Profile, Probability of Profit, Market Data, and the Greeks.

At the top of the order drawer the investor can switch from buy to sell if they want as well as adjusting the quantity by tapping on the arrow next to the number. When they are ready to submit the order they should tap on the order button at the top right of the drawer and the order screen will appear. From here the investor can choose to expand the performance details shown in the order drawer by tapping on the arrow. They can adjust the quantity, choose the order type, adjust the price if applicable to the order type and choose the Time-in-Force. They can also choose to attach a Profit Taker, Stop Loss or Bracket order to the parent trade.

When ready to submit the order, the investor can slide the toggle bar at the bottom of the screen.

Entering a Spread using the IBKR Mobile Option Chain

The IBKR Mobile Option Chain allows the investor to create combination orders by tapping on multiple strikes or using the Layout page to bring up spread templates for calendar, vertical, and diagonal spreads.

Using the Spread Templates

To create a calendar spread using the spread template the investor taps on the three lines in the upper-left hand corner and chooses the “Calendar Spread” layout. A matrix will show different calendar spread combinations. Choose the front month by tapping in the upper left-hand corner.  Display call or put spreads by tapping on the call/put toggle in the upper right-hand corner. The investor can move the screen to see spreads displayed by strike and back month, when ready to create the order, they tap on the spread box and an order drawer will appear. The investor can adjust the leg ratio, look at the Performance Profile chart, and other information. When ready, they tap the “Order” button to bring up the order ticket window. In the Order ticket the investor can choose the quantity, order type, price, time-in-force, display size, and a profit taker, stop loss, or bracket order if they want. When ready slide the toggle at the bottom of the screen to send the order. 

Creating a Combination Using the IBKR Mobile Option Chain

Investors can create multi-leg combinations using the Option Chains Call/Puts layout by tapping on the strikes they want to trade. Like creating a single leg order, the investor taps the bid for a sell and the ask for a buy. As they tap on the options the order drawer will update with the number of legs. They can untap a leg if they no longer want it included in the combination.

When ready slide the order drawer up to adjust the leg ratio, change the order between buy and sell, see the Performance Profile chart, and other data. When ready tap on the Order button in the top right-hand side and the order ticket will appear. When the investor has set the quantity, order type, price, Time-in-Force, as well as if they want to attach an order, they slide the toggle at the bottom of the page to send the order.

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Disclosure: Interactive Brokers

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Interactive Brokers, its affiliates, or its employees.

Disclosure: Options Trading

Options involve risk and are not suitable for all investors. Multiple leg strategies, including spreads, will incur multiple commission charges. For more information read the "Characteristics and Risks of Standardized Options" also known as the options disclosure document (ODD) or visit

Disclosure: Displaying Symbols on Video

Any stock, options or futures symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

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