tastyworks, the pioneering leader in retail brokerage technology, today announced the launch of its new feature that allows full performance tracking of complex stock and option strategies. Order-Chains (patent pending) lets traders see the profit and loss on combinations of open and closed positions automatically, in real-time.
tastyworks continues to deliver next-gen trading tools for the benefit of its rapidly growing customer base. Order-Chains removes the need for spreadsheets or third-party software that require manual input, and dramatically increases the speed of the trade decision process.
“What separates tastyworks from its competition is that they really do listen to their customers. They asked for a way for the platform to do what they are doing by hand – calculate the profit or loss on positions they’ve adjusted or closed in conjunction with open positions – and tastyworks delivered. The new Order-Chains tool is now able to do that using low-latency AI to group transactions without manual input,” said Tom Sosnoff, co-CEO of tastytrade, Inc., parent company to tastyworks.
As the first profit and loss tracking tool fully integrated into a trading platform, Order-Chains brings simplicity and speed performance tracking for retail accounts. It meets the demands of the growing number of retail traders using complex option strategies that involve hedges, adjustments, and that span expirations.
“One of the most consistently asked questions on our trade desk is how a customer can see the overall profit or loss on a group of associated trades, like a series of covered calls. Order-Chains answers that question,” said Scott Sheridan, CEO of tastyworks, Inc. “It is easy to use, automatic, and in real-time. P/L is finally in the 21st century.”
The Order-Chains feature of the tastyworks desktop trading platform will track the journey of any ETF, stock or option trade from its open, to any rolls or adjustments, to its close. Traders can kiss their spreadsheet goodbye and put Order-Chains to work to:
- Keep track of their total credit received when rolling or adjusting any equity/ETF options positions to determine their breakeven price.
- Quickly check if any adjustments or rolls realized a profit or loss.
- Filter positions that resulted in a gain or loss, as well as open positions that they are currently managing or closed (in the past 30 or 60 days).
- Real-time profit/loss tracking of all adjusted positions.
- Track the journey and performance of closed trades from the past 30 or 60 days.
Based out of Chicago, IL, tastyworks is a brokerage firm, creating and leading a financial revolution for the do-it-yourself investor. The brokerage firm was launched in 2017 by the same anti-Wall Street team that created thinkorswim in 1999 and tastytrade in 2011. tastyworks supports investors who want to actively manage their own money with a powerful platform, embedded engaging content, and a unique commission structure. tastyworks is a subsidiary of tastytrade. For more information visit www.tastyworks.com.