virtual account

Platform Features Release: Trade from the Chart, Price Slices, Reset Virtual Account Options

Announcing the latest Release of feature and functionality enhancements to the trading platform to improve the position evaluation process, trade submitting process as well as offer additional practice account settings:

Price Slices: Evaluate theoretical outcomes of option positions when using the Strategy Templates.

Trade from the Chart: Use the control box or lines on Chart to adjust the entry point, Target Price and/or Stop Price.

Reset Virtual Account – Add ‘funds’ to an existing account OR reset everything and start fresh. You decide.

Price Slices (Premium Feature)

The Button appears on the right side of the screen when using the Strategy Templates.

Select one of the 22 Option Strategy Templates.
Build the position.
Click the Price Slices button to start your evaluation
Change the Date (default ‘today’), Price levels and/or % Offset
Add IV to view how this affects the theoretical P/L
Click the Go Big icon to view additional Greek data

Learn More about Price Slice Functionality

Trade from the Chart

The button appears at the top of the chart for any symbol – whether there is an existing position or not.

Clicking this button activates an Order Window on the Chart, like this:

Note: Buy, Profit and Stop Loss line colors will match those displayed on the chart itself.

The values in the Order Window can be manually adjusted by $ or %

The values can also be dynamically adjusted by moving the corresponding line(s) on the Chart itself.

The Quantity value default is “1” to show the ‘per share’ dollar and percentage estimated risk, reward, as well as Position Total.

Click “Trade” for the prefilled Order Ticket to display.

The Order Ticket can be further adjusted, Staged or Reviewed to ensure it’s completed to your satisfaction, then Submitted.

Note: The brokerage selected must support Bracket Orders if the Stop/Stop Limit values are selected on the Order Window

Reset Tradier Virtual Account – 2 options

Tradier’s Virtual Account gives you the ability to add more “Cash” to your practice account – OR – completely start over:

On the account summary page, click “Reset Virtual Account”

Select “Balance Reset Only” – to keep your existing trade activity, but add more “cash” to your virtual account.

Select “Complete Reset” – if you want to remove all prior transactions, including Journal Entries, Gains, Orders, Positions, etc. Note: This selection cannot be undone once it’s processed.

Type RESET in the box provided, then click the “Confirm” button

Enhancements

ATM Option Strikes are bolded for easier identification

Change Log

Adjusted theme contrast
Corrected Order Type Limit price entry
Snapshot functionality restored

by Support Team

Virtual Account Buying Power Calculations

Virtual Account Buying Power Calculation

This is an example of how Buying Power is calculated. Check with your broker for specifics on your real accounts.

Margin

All margin accounts are subject to a $2,000 minimum equity requirement. ChoiceTrade requires $25,000 in account equity for naked put writing and $100,000 for naked call writing. Please click here to read our Risk Disclosure for important information regarding daytrading rules. Please see the terms of ChoiceTrade's Margin and Options agreements.

Special Notes Volatile Stock Requirement: Some stocks deemed to be volatile may be held at a higher requirement. New Issues: Generally, newly issued stocks have a 100% initial and maintenance requirement for the first 30 days of trading Leveraged ETFs: Minimim cash requirement for long positions: 2X ETF (200% Leveraged) = 50% 3X ETF (300% Leveraged) = 100% Minimim cash requirement for short positions: 2X ETF (200% Leveraged) = 60% 3X ETF (300% Leveraged) = 100%
POSITION	INITIAL MARGIN	MAINTENANCE MARGIN
Long Stock	1. 50% of the purchase price of marginable securities 2. 100% of the purchase price of non-marginable securities $2000 minimum margin account equity for all margin transactions $500 minimum cash balance required for Bulletin Board and OTC Market Stocks	1. 25% of the current market value of the long securities positions in marginable securities. 2. 100% of the current market value of the long securities positions in non-marginable securities; See Special Notes below
Short Stock	The greater of: 1. 50% of the sale price of marginable securities; or 2. $5.00 per share $2000 minimum margin account equity for all margin transactions	1. For marginable securities priced $2.50/share and under: $2.50/share 2. For marginable securities priced $2.51 to $5.00 per share: 100%. 3. For marginable securities priced $5.01 and above: greater of 50% or $5.00 per share. See Special Notes below
Long Calls or Puts	100% of the cost of the options.	100% of the current market value of options.
Short Uncovered Calls	The greater of: 1. 100% of the option proceeds plus 20% of the underlying stock less any amount the option is out-of-the-money; or 2. 100% of the option proceeds plus 10% of the underlying stock $100,000 minimum margin account equity	The greater of: 1. The current marked-to-market value of the option plus 20% of the underlying stock less any amount the option is out-of-the-money; or 2. The current marked-to-market value of the option plus 10% of the underlying stock
Short Puts	The greater of: 1. 100% of the option proceeds plus 20% of the underlying stock less any amount the option is out-of-the-money; or 2. 100% of the option proceeds plus 10% of the strike price. $100,000 minimum margin account equity	The greater of: 1. The current marked-to-market value of the option plus 20% of the underlying stock less any amount the option is out-of-the-money; or 2. The current marked-to-market value of the option plus 10% of the strike price
Short Covered Calls	None required on short call.	None required on short call.
Debit Spread	100% of the net debit	100% of the current market value of the position.
Credit Spread Market Orders	Value of the difference between the strike prices $2,000 minimum margin account equity	The lesser of: 1. Value of the difference between the strike prices of the vertical or; 2. The maintenance margin requirement of the short call or put
Credit Spread Limit Orders	Value of the difference between the strike prices less the credit to be received $2,000 minimum margin account equity	The lesser of: 1. Value of the difference between the strike prices of the vertical or; 2. The maintenance margin requirement of the short call or put
Long Butterflies/ Condors	100% of cost of butterfly or condor.	100% of current market value of butterfly or condor.
Short Butterflies/ Condors	Initial margin requirement of the short vertical of the butterfly or condor.	Maintenance margin requirement of the short vertical of the butterfly or condor.
Long Straddles/ Strangles	100% of the cost of the straddle or strangle.	100% of the current market value of the straddle or strangle.
Short Straddles/ Strangles	The initial margin requirement for the short put or short call, whichever is greater, plus the premium of the other option; $100,000 minimum margin account equity	The maintenance margin requirement for the short put or short call, whichever is greater, plus the premium of the other option;
Long Call or Put Calendar Spreads	100% of the cost of the calendar spread.	100% of the current market value of the calendar spread.
Short Call or Put Calendar Spreads	Initial margin requirement of short call or put; $2,000 minimum margin account equity	Maintenance margin requirement of short call or put;