 Okay, Extraders, and welcome to the Thinkorswim series. Next we're going to look at the Trade tab and the Analyze tab. Okay, so Trade tab. I mentioned you could trade stocks as well as options on here, right? So if you want to trade a stock, in this case you punch in the ticker. Here's the Apple ticker, for example, okay, and you can see here it's giving you the information that you need. This is the actual closing price because as I mentioned the market is currently closed. So we'll close that $178.99, tells you the absolute values as well as percentage change, the bid and the ask, and it's giving you some, you know, more information, the exchange on which it trades as well as the market and maker move. This is something that's proprietary to Thinkorswim, and we're going to mention it a little bit further down the road. Now if you want to trade this, this is as easy as basically just clicking on this and saying buy, right? And if you hit buy, you're going to see this, which is usually hidden like that. So let's do that again. Hit buy and it pops up the order entry tool. And this is telling us that we're buying stock, right? You're buying it 100 shares of Apple, the ticker that we have selected. In this case there is no expiry or strike type, sorry, or strike. This is type stock of course, and the price is $178.80, and this is a limit type order, which of course you can change, right? You can go market, you can go stop, stop limit, and you can lock this because you can also, during market hours, you'll see the price fluctuate between the mid and the natural, which is kind of between the mid, the bid and the ask, and you are able to lock that or to move it as much as you want in either direction. And as soon as you hit the confirm and send, it brings up this order confirmation dialog box, which is very important because in some cases we get a little jumpy and we hit that, we hit that buy button, and we want to make sure that we are buying what we are actually expecting to get, right? So obviously in this case you want to make sure that you're not buying a thousand shares of Apple instead of 100, for example, right? Okay, so in this case I'm just going to hit the little x here. Now that's if you're buying stocks, now what about if you're buying options? Alright, so here is your options chain, okay? And we have here on the left, this is the option chain, we have on the left the expiry date, and in parentheses we have the days till expiration, and anything that's yellow is weekly, of course, and anything that's white is monthly. Now we're looking at single spreads today. Let's look at the weekly. So this Friday, October 13, we go to the at the money strike, which is 178, 99, something like that. Okay, so here we go. So, you know, this should be pretty straightforward. Anything that's in these purple quadrants is in the money. This is the call side and this is the put side. So any strike price that is below the current market price is of course in the money, right? Because if you have a call that lets you buy, gives you the right to buy at a price lower than the current market price, then of course that is considered to be in the money, right? Because if you have the right to buy it when 60 and you can immediately turn around and sell it for 180, then that should be worth at least intrinsic value 20 bucks, right? That's basically telling us here. And by the same token, a put. If you have a put that allows you to put to the market or to the actual person who sold you that put for $200, and it is currently trading at 180, then that means that you're going to be able to sell for 20 bucks above current market price, right, to that person because he wrote the put and therefore he has the obligation to receive or buy those shares at 200, right? So of course it's a 20 buck difference from 180 to 200 and so these are deep in the money as well. Anything that is in the black quadrants of course is out of the money, hire. So what do you do when you want to buy a call? For example, we're on the call side, okay? So you just come over here and you click on that, highlights it for you and then you right click and you can buy, right? And you have different options, buy single, buy vertical if you want, and when we get into all these other spread strategy videos, we can come back and look at these. But right now for the time being, let's say that we're going to buy a single. So there we go now down here in our order entry tool, the spread type is single. We're buying it one contract, Apple symbol, and it's telling us the expiration date in this case as well as the strike price, which is 180. And it's a type call, it is at 125 and it is limit, okay? It's good for the day and there's no other instructions. Now if we hit confirm and send of course it brings the order confirmation dialog box back up and again we can check to make sure that we're actually getting what we think we are getting. Now let's jump over to the analyze tab. The analyze tab we're going to cover very briefly because this is material for a different video. This is a more sophisticated analysis of a particular trade, whether you are about to put it on or have already placed it. So let's go ahead and look at the long call. So let me delete this, right? And then we're going to go and look at buying a long call. All right. But you know what? Before I buy this, I want to analyze, right? So let's go ahead and analyze this on buy trade single. All right. So it opens up the risk profile in the analyze tab. That is what we're looking at. So this is what happens when we buy the 180, here it is down here, the 180 call for this weekend or for this Friday actually. It's going to cost us 125. So guess what? 125. You see this blue line, the teal line? This is at expiration. And the purple fuchsia, that's today's date. And you can see this, I'm going to move down here to this area, right? This is at expiration, 1014 is the teal. And the fuchsia is today's, which is, like I mentioned, October 9th. So today, as of today, minus 125 is the max loss. This is the PNL chart. We talked about these in the fundamental series. You should know these. You should know these by heart. Now if this thing, the price of the stock is down here on the horizontal axis, right? And here's 180, right? 180 is not your break even because you paid a little bit for it, right? You paid 124, so it's 180 plus whatever you paid, well there it is, plus 125. That is your break even. That is where the profit and loss is zero, which is the horizontal line that we're looking at right now. At this stock price is when your stock starts actually, or your call starts actually profiting, right? How much can it profit? Well, it can be worth, instead of the 125, 400, 500, 600, and this goes on till infinity. And that's why infinity is the max profit that you can make on one of these things, right? Let's quickly glance over the market watch so we can go over to the scam. Now in the market watch, like I mentioned, it's basically you creating your own watch lists, right? So you can, this here's a default watch list. Nope, this is not populated with the right kind of stuff. So here's one, let's say, an ARVOL list, right? So here's one watch list that I created that I called ARVOL list. And you can, of course, go for public ones as well. As I mentioned, you can look for the ones that have the greatest percent change. As gainers, as losers, you can look for futures. If you're trading forex or futures, you can look for anything listed on the NICE or the Russell 2000, 3000, and of course the S&P 500. And you can even go for the different sectors and indices, which is the one that I had up a little bit earlier right here, right? You can look at the individual sectors as well, right? And see how the sectors are faring. So this is kind of, the idea here is to give you a broad overview of the market and how it is trading and how your particular stocks in a certain watch list are trading, right? Like I mentioned in this visualized sub tab, you can come in here and look at the heat map for the different lists as well. So this is, for example, the Dow Jones, ended up mostly green, the Nasdaq ended up mostly green today, and so did the S&P 500, which we were looking at earlier. Okay, now let's jump over to the scan tab, because this one, it's not that it's incredibly complicated, but it's a little bit more involved, okay? So, like I mentioned, a scan is a sort of a program that you can run that will go out into the market, it will go out into the market and fish stocks for you. So what you can do here is you can set up a scan of, let's reset this, and you come over here to this one and you hit reset. And this is what yours probably looks like when you just get into it, right? So this is not, we haven't created a scan here. This scan is going to scan all stocks, and careful, you don't want to scan all stocks because that's going to bring, that's going to go out into the Internet, onto their servers and it'll take a long time, and you know, depending on your computing power as well as your Internet connectivity, it might hang up your computer, so you probably don't want to just go out and get all stocks, right? So let's just filter it out, and let's talk about the S&P 100, okay? So here we go. We're looking at the S&P, we're scanning in the S&P 100, right? And so it's telling us that whatever we do right now if we hit scan, it's going to come back with 101 stocks because that's how many are listed. Now what if we wanted to see how many of them have a price, let's say above, let's go halfway, right? So above, sorry, this is net change. Let's go to last. Here we go, right? So closing price, right? Okay, so how many of these in the S&P 100 are above 68.23, right? This is showing up here. So the minimum last price is 68.20, so let's just make it an even 68.0, right? So if we hit scan, then that's going to tell, it's only going to bring back 75, 75 of those stocks in the S&P 100 are greater than $68 or closed above $68 today, right? And of course you can mix and match these, okay? Yeah, okay, great. So last was that, but what if I want also a stock that closed above 2 million in volume, right? So this is shares traded. So now when we hit the scan, it comes down to 57 because it is crossing the results from the 77 matches and the 82 matches and it's getting the combination of both of them and that is only 57 of those particular stocks. So you can see how powerful this can be, right? Now you can scan tab. Now let's jump over to tools in education before we do charts. Tools, like I mentioned, this is where we're going to be looking at some of the scripts that we have and actually I'm going to refer you to the ThinkScript video series right here so that if you are interested in this particular tab, you can go over to that video series and the education, I really won't cover much in this video, but it's there if you need the tools, specifically if you're going to be doing a lot of ThinkScript stuff, you know, you have all of your reference for coding in there and you have a lot of other videos and how-tos that you can take advantage of in here. Here's a reason why Xtrades is currently the fastest growing application on the market for sharing financial ideas. With over $2.5 million paid in the last two years to contributors, users are flocking to see what trades the top traders on the leaderboard are sharing in real time. 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