Adjusting or Re-Opening a Trade

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Adjusting or Re-Opening a Trade

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How do I adjust or re-open Positions?

The sequence of events necessary to adjust a Trading Position are as follows:

1.Select an Account in which the existing Position to be adjusted/re-opened resides. you want the Trade to be created. Instructions on selecting Accounts can be found here.

2.Select the Trading Date and Time the new Trade adjustment is to be made. Instructions on selecting the Trading Date and Time can be found here.

3.Select the Underlying of the existing Position. Instructions on selecting the Underlying can be found here.

4.Select the Open Position you wish to adjust. Instructions on selecting Open Positions can be found here. If you wish to re-open a closed Position proceed by selecting "Start New Trade" (as the Open Position screen area obviously doesn't display closed positions) - you will be able to select the closed Position you wish to re-open later.

5.Select the Option Symbol Strikes and number of contracts you wish to add into the adjusted Position in the Model column of the Option Chain. Instructions on creating a Model are given here. During the process of saving the Model you are prompted for "Trade Documentation" - this is where you can fine tune some of the trade details to override any defaults generated by ONE (useful if you a retrospectively entering a trade you created elsewhere, such as with your broker). You can also change the Trade Id to that of a previously closed Position (so you have in effect re-opened a closed Position) or indeed associate the adjustment to any existing Open Position. Note however that you are not able to amend the "Trade Name" or "Trade Category" as these attributes of the Position were set when that Position was originally created.

6.As each new Option Symbol Strike entered into a Position has been created with default pricing details supplied from ONE. It may be necessary to update these prices - you are advised to check these details by examining the Trade Log (see here). This is especially necessary if you are using ONE to monitor trades created in an external system or broker - you will therefore require the actual fill prices which may be better or worse than the market prices available to ONE.