 Well, thanks to everybody for joining us today. We are super excited to present the Tasty Works web class for Navigation Traders. For those of you who have been trading for any time at all, you know that Tasty Works has kind of taken the trading industry by storm, not only with their innovative technology, but with their crazy low commission rates. And so before I introduce our special guest, I just wanna go over a quick disclosure, make sure you understand Tasty Works is a self-directed brokerage account. They don't give financial or tax advice. You as a customer are solely responsible for your investments and trading decisions. Options are not suitable for all investors. They do carry risk. Make sure you read the characteristics and risks of standardized options. And Tasty Works and Navigation Financial are separate unaffiliated companies. We're not responsible for each other's services and products. Now that we got that out of the way, let us introduce our special guest. So Ryan Grace is part of the Tasty Trades on-air talent team, host the Ryan and Beef Show on Tasty Trade Monday through Friday. He works on a number of initiatives within Tasty Trade, but you may have heard his voice doing the tutorials and different things for Tasty Works. So he knows the platform inside and out. So welcome, Ryan. Give us a little glimpse into your daily activities at Tasty Trade and fill in some of those gaps. Hey Steve, well, thanks for having me and thank you everyone for having me on the webinar here today. Like Steve said, I work with our development team here at Tasty Trade and Tasty Works. So I kind of head up our product management and have a lot of input into what the different platforms look like. It's a lot of fun for me. You know, I always equate it to if you're able to, you know, if you like playing video games, you get to design the video game. I like the trade we get to design a lot of the technology that we use. So it's a lot of fun. For me, you know, I'm actively trading for the most part every day. I'm fortunate enough to be able to do that as well as have some input into the process. I usually aggregate a lot of the feedback, coordinate a lot of things with our development team, make sure that, you know, when we're doing a two week development iteration, the features and the bug fixes that we need to take care of, make it out into the platform and then work with the various other parts of the company, such as the marketing team and Tom and all the other on-air talent to make sure that everything is going in the right direction or, you know, we're getting to where we wanna be in terms of technology for the company. So that's a little bit of my role on the product management side. And then I also get to have a lot of fun on-air. Tom gives me half an hour each day to do a show called the Round and Beef Show where we get to take a look at what's going on in the market. We show everybody how to use the platform. We talk a lot about different, you know, option strategies, opportunities we might see, and present some research every now and then. So we have a lot of fun creating content and also building technology for trading. So that's my role here at Tasty Trading, Tasty Words. Awesome, thanks Ryan. So we had Tom on co-hosted a webinar with us in December. And so he gave us a little demo, a little bit of an overview of the Tasty Works platform. We spent some time, you know, just talking about his career and his philosophy and stuff like that. So didn't spend as much time directly on the platform. Now with the new release of the Analyze tab, something that we, as navigation traders, I know have been waiting for. And we're really excited to hear more about that. So if you wanna jump in, take us through a demo of the platform and then let's end with the Analyze tab and show us kind of the power of that and how that can help us in our trading. Okay, perfect. So we'll jump in here and we'll get started. And what we're looking at is the Tasty Works desktop platform. We have a couple different versions of software. We have a web-based platform, a couple mobile apps, but this is really what we spend, you know, most of our efforts on the Tasty Works desktop platform. It's our fastest platform and has the most features. So this is what I'm spending most of my time on each day. But to take a step back, I'll first give you an overview of kind of the philosophy that went into the design of the platform. You'll notice that it looks a lot like many of the other platforms that are out there. You have three different sections really that it's broken down into. So we have this left side panel where my cursor is above this watch list right now. We have what I'll call our kind of main workspace, this center panel here. And then we have this right sidebar as well. And you can customize some of the information or you can jump to different tabs. So you'll notice that we have kind of a quote detail section here. We can see some information about a position that we already have on in QQQ. And then we can see an activity section as well. But the idea behind the platform is that whatever symbol you're working in, that information translates across to all different sections or all three of these different sections here within the software. So right now, if you look at the Q's, I have a position on the Q's. So if I were to click on the Q's in the watch list, it would populate this here at the top. We have some information about it. But over here on the right hand side, it would also show me that I do have that position. We have a diagonal call spread here. And if I had been trading in QQQ today, I would see my activity. And I can also just quickly jump back, whether it's 30 days or 14 days whenever I first put that trade on here. And that information for those filled orders and anything else I've done will pop up in there. So I don't have to jump to the specific activity tab, even though we have these different pages, everything is displayed for you all at once. So you don't constantly have to go back and forth between your positions, the trade page, your activity. Did I get filled? Where am I with that order? Everything is right there in front of you. And you'll notice that as I click on these different symbols, it's gonna change the information that's displayed. So I've clicked on Apple. It's highlighting Apple on the left hand side. We have information about the symbol at the top. If I jump over to the trade page, I don't have to re-enter that symbol. Here's our option chain. So we already have the option chain and all the different expirations for Apple. If I go over to a chart, as it loads here, I'll have a chart of Apple, so I don't have to re-enter that symbol. So we make it really easy to see all of the relevant information and make it very quick to set up trades without having to go back and forth between different pages and enter in that symbol each time. And you'll see, here's what I was talking about with the activity. So I've got all of my previous activity in Apple. I don't currently have a position. But if I did and I was looking at this, or maybe I was just looking at a different chart or wanted to, I could quickly just jump in here and make a trade in the symbol. So that's the philosophy of the design. And now I'm gonna go over to each one of the different pages or tabs that we have in the platform. And I'll start with the positions view, which is gonna be your portfolio where you view whether or not you're up or down on a trade and you can close your position from here. So I think it's pretty straightforward in terms of what we're looking at. We have the symbol that we have the position on in. So these are grouped right now. If you click on any one of the rows for that particular symbol, it's gonna open up the symbol grouping and we can see what those positions are. So in Tesla, for example, you can see we have a strangle, we have a short call, and we have a vertical put spread, the 250, 235 put spread here. And so I can see those individual legs as well as some information about each one of those. I can also see that information here at that grouping level as well. So we can see the trade price that we bought or sold each one of these options at. We can see the current mark where it is in the market and that's gonna be the mid price between the bid-ask spread. And then we can see the P&L as a result. So wherever we sold it or we bought it at, relative to where it's currently trading, we're gonna be up and down on the trade in general. And then we can see where the P&L on the day is. So for Tesla here today with a relatively bearish position, it was a position that had a pretty good day. In addition to that, we have, and this is just how I've set up my page, you can customize this. But in addition to this, we've got the Greeks, we've got Delta, Gamma, Theta, and Vega for each one of these positions. And then again, as you open it up, you can see that for each one of those options or those legs that make up your strategy. If there's anything that you'd like to see that isn't displayed, there's a settings button up here. Looks like a gear. If you click on that, this is where you'll be able to customize the view for the positions tab. And this is also the same way that it works for watch lists or any of the other pages within the platform. But from here, you can choose which items you'd like to display and which items are not currently displayed. And if there's something that's not displayed that you'd like to display, it's very easy to do that. You just click on it and it's gonna send it over there to the display column. And if you click on it a second time, it'll remove it. So as you do that, really easy to customize this, you can drag and drop and that's gonna change the order in which these are displayed. But if you click on it, you can remove it and click on it a second time over here in the not displayed section and that will add it back to your portfolio. So we'll click okay and close out of there. You can see some information about the symbol as well. So if we look up here, we'll see that Tesla was down $12.13 today to a last price of $330.93. What I get asked about all the time that we're working on right now is, well, how come these positions aren't grouped? Can you group positions? And so it's not very intuitive when you look at it like this, I understand that. We have a pretty robust feature coming that'll automatically group the positions based on how you enter the order. It'll give the ability to custom group them and you'll be able to see that information a lot better because I know everybody wants to say, well, what did I sell the Iron Condor at? Or what did I buy the call spread at? And then where is that trading in the market? I wanna be able to look at that independently instead of having to write it down or go back and do the math in my head. So I know it's not that intuitive looking at it right now. You have that feature coming soon and that's gonna be called our order chains. But this is what's displayed at the moment and this is also where you're gonna close or take an action with your portfolio. You don't have to go to the trade page. You don't have to then set up an opposite order. All you need to do if you wanna close a position, let's say we wanna take a profit in this short 350 call in May, just click on it. That'll focus on the row. You can see that it's highlighted in gray. And then once you do that, you just need to right click and that'll open up a menu where you have a couple of different choices here. Clicking on close position will take you to the trade page. This is where you can adjust your price and then route that closing order. But if we jump back, you'll see that there's a couple other options as well. And we have the ability to close the position at a percentage of our max profit. So this is really more for just selling options. It's kind of the bread and butter or at least what we talk about primarily on the Tasty Trade Network. What this lets someone do then is if you have a defined amount of money that you can make when you sell an option, this is gonna set up a good till cancel order to close it at a percentage of that max profit. You don't have to do the math in your head. It'll set it up automatically. So just to simplify it, let's just say if we sold something for a dollar, I decide to close it at 50% of its max potential profit of a dollar. It's gonna set up a GTC order to buy a back at 50 cents and effectively realize a profit of 50% of the max potential there. So that's what that feature does. Quick roll is gonna set up a rolling order in the very next expiration. Most of the times that's gonna be a weekly expiration or you can highlight roll and this will show you as you go further out in time what the difference is in those prices are should you roll to the next month or should you roll to three months from the current date whatever it might be, it'll show you right there. So you don't have to go in and compare and change the expirations and decide, you know, is this better? Is that better? Am I being compensated more for doing this? You can see everything right in there and then we'll get to the analysis in a little bit but clicking on the analysis we'll send this over to the analyze page here analyze mode and allow you to do a deeper dive into that closing position or the entire thing that you have on in your portfolio. So I'm gonna close off of this and go back to the positions tab. Hey, Ryan. Yes. Before you jump ahead, I wanna go back to one thing you said because I think it's really, really powerful and I don't wanna gloss over it and that is what you mentioned about what you guys are gonna be putting out at some time in the future and that's the order chain. So tell us a little bit more about that because I get questions all the time about, okay, I had this iron condor or I had this strangle, I've rolled and adjusted several times and I'm trying to keep track of where I'm at from a profitability standpoint. Tell us a little bit more about that option chain because I think that's gonna be such a powerful tool and such a huge differentiator. Yeah, I'd be happy to talk more about that. I do too in terms of looking at this as something that can potentially be a game changer or at least a nice feature because I don't see it really anywhere else at the moment and I know the frustration everybody has with well, what's my basis on this position or really am I up or down after a series of actions that I've taken, I've rolled this a few times, where am I? So what order chains is gonna do and this existed to a degree, it wasn't as robust as it will be due to some of the limitations we had but this existed in our previous web platform called DOE and what it's gonna do is intelligently connect all of your trading activity and at times, certainly the computer won't be perfect so you'll be able to customize certain things but ideally, let's say you roll a position instead of only viewing the P&L open for the current position like you can in most platforms and it takes your works right now this will show you where you are given all the actions that you've taken this will show you your basis after a series of roles so then you'll be able to manage the position and not when you are up on the new position but when you're up on the entire thing you'll then know, okay, I made the role and now I can finally get out of this I averted disaster, turn a losing trade into a winner, whatever it might be. The other thing that I would think of off the top of my head that it would be beneficial for let's say you buy a stock, you sell a call against it to reduce your basis, to get a little bit of income increase the yield, whatever, as you do that maybe the call expires, you sell another one the next month and through this process you effectively reduce the basis or the trade price cost of your stock from we'll say maybe it was $50 and maybe now it's down to 47 most platforms, ours currently as well are only gonna show you that you bought the stock at 50 no matter what you sold against it to overall reduce that cost this will show you what that basis is and then you can make decisions based on that. Excellent, one other question that we're seeing in the chat, Ryan, is there anywhere on the screen that shows the P and L of your portfolio for the day? Yes, it shows it by symbol but does it show it added up? It does and I just, anywhere where you see these little arrows that are pointing down or would be pointing up, left or right that indicates that you can expand or collapse that section so I just moved some things around to give us some more viewing space but I'll click on this here and this is gonna show you all of that portfolio information so we can talk about that for a second and what I have going on right now is there are four accounts that are connected to this login that I have and so right now we're displaying two of those four accounts you can adjust all of these things within the settings. The other two accounts that I have here don't have any capital in them so we're only looking at the two that do and you'll see both of those accounts so all accounts that are connected to your username or any accounts that you have an LTA on you can see them all right here at once and look at those different rows and see how that account is performing how this other account is performing and so on or you can just drill down into each one of them so if I click on the first one you'll see that any of those orange circles and those positions in this account just below they all went away now I'm only viewing the purple account zero five zero one four and you'll also notice that there's this little icon that's highlighted that's indicating to me that that's the current trading account so if I go and set up a trade that's the account that the position is gonna be added to if I double click on this orange account you can see I've now changed the active trading account this is the one that the positions are gonna be added to you can also make the change to the account for the trade on the trade page but if you click on both of these it's gonna display everything if you click off of them it'll display everything you'll see that these symbols have the same circle so they're coordinated here color coordinated and I know which account the position is in you'll also notice that SBXY and Tesla have multiple circles next to them that indicates that I have a position in those symbols in both of my accounts or many of my accounts and when I click on the row you can see I have one position in the 05011 account and the rest of the positions are in the 05014 account so it's very easy to get a sense of what's going on across all of your all of your accounts that are connected together and you can see some details as well your beta weighted delta so we're gonna beta weight against the spy essentially your directional risk relative to the market we have the theta decay because we focus on options so we have the theta value here for the accounts simply just how much we can make here if one day passes in time nothing else changes even though nothing else changing is very unlikely we have the net liquidating value of the account which is just again like in any other platform signaling what would the value be should be closed out of all the existing positions and then here are those two key metrics that everybody focuses on what's my P and L on the day and then as a result where am I here to date with these accounts since January 1st and to the right of that as well we have the available option buying power and stock buying power so you can see relative to the net link of the account using quite a bit of the available capital so that's where you would see that and I had it collapsed initially if you click on this it'll expand it and you'll see that that's true for any of these different arrows in here if I click on them we're gonna open up those various sections so that's the portfolio kind of overview here and the Delta component Ryan that you mentioned you mentioned that's beta weighted to spy so on the old platform that we won't mention names of the you would choose what you want to beta weighted to but within this platform it's automatically beta weighted to SPY right so you don't have to miss it right now by default it's beta weighted to the spy it's been a popular request beta weighted to other symbols we have that built on the back end we just have to add a front end or user interface to do that within the settings so that's something that it should be very easy for us to add we've just maybe it's fallen through the cracks so we haven't added it yet but by default it is gonna just beta weighted to the spy very good does anyone have any more questions on the positions to have here one of the questions was just on timing of that order chain feature any idea when that'll come out we've got our team our head developer at least on the head platform developer is working on it now so I would say hopefully within the next three months just really depending on how many issues he runs into or what kind of struggles he has we have a limited team in terms of what everybody's specialty is we have about two people that are more of the kind of Java developers for the front end here with the platform and my guess is it'll take them and maybe anywhere from two to three months to finish from where they are here okay but maybe sooner than later I would certainly like to see it sooner so that is the oh I guess one last thing I wanna just quickly mention there are filters here at the top they're all turned on they don't look that pretty we have some fixes coming to these as well but if they're highlighted in black it means that they're showing that particular type of position so if we had some stocks which I think we have an ETF here SBXY if I click off of that it'll remove the long shares and it'll leave us only with we'll take off our closed positions on the day it'll leave us only with a short call that we have against 100 of those shares so these will allow you to remove anything you know now we're only looking at futures remove our working orders or if I wanna do everything and not group it by symbol just clicking on these will filter the display or change the display but that's the positions tab which is gonna be your portfolio tab like in most platforms now I wanna jump over to the trade page and talk about the various ways that we can set up and analyze our trades so as I mentioned before anything that you click on will add that symbol at the top and give you some relevant data as well you can also type in anything you want so let's say that we wanted to go from Apple to Tesla just type in TSLA and there's a little bit of a delay with my screen here so just a second as it starts to respond we'll get that typed in there I don't know if our internet's a little slow or what's going on so Tesla hit enter so just like with most platforms you can search for a symbol or you can just click on a symbol we can click on Apple again and once you do that it's gonna load the option chain there's a couple different views that we have or different modes we like to call them for trading so we have your traditional option chain which is gonna be our table mode we have this visual way to set up trades that we call the curve and I'll talk about that a little bit here we also have an active trader and this is gonna be what's somewhat equivalent to a ladder or a dome in some other platforms this is more conducive I would say to futures trading or actively trading equities not so much options and then we have this analysis mode which is an overlay on top of the curve tab or curve page here but let's start with the table and just go through how easy it is to quickly set up some trades if this wasn't something that Tom covered in detail because this is one of the things that where it's not necessarily a feature as it exists in all the other platforms but I think we've made it really really easy to quickly set up trades and view some of that relevant information when you're trying to decide on a particular strategy so you have your basic information here we have our option expiration so the expiry date is right here on the left hand side in the middle here you can see the number of days until that date so today being the first we've got 15 days to go until the 16th and then we can see a big style implied volatility calculation for that expiration as well over here on the right if I click on any of these if we're to click on the row for March 16th it's gonna open up the option chain right now we're only viewing eight strikes for the puts and the calls but if I go and select all you'll see that that opens it up quite a bit and it looks very similar to how it's displayed in a lot of other platforms now here's how easy it is to set up trades and make adjustments to your strategies what you'll find is there's a number of different ways to do the same thing within the platform this is how I like to set up trades any bid price that you click on is gonna let you sell the option and then any ask that you click on if you click on the offer it'll let you buy the option so very quickly with two clicks we have a short vertical put spread selling a put spread here if I click on it again and drag and drop I can change the strikes very quickly so if I wanna widen this out from five points to seven and a half can move this to the 162 half strike can move this further out of the money and it's very easy to just quickly drag and drop you can also drag across the strike bar we could change this from a short put spread to a short call spread just by grabbing these different option icons and sliding them over to the other side where the calls are so that's how easy it is to set up trades to make quick adjustments you'll also see some buttons at the bottom here so this will allow you to adjust your strikes as well if I click on those it will be either up or down the strike bar we can widen out the width of the spread or tighten the spread we can increase the quantity of contracts from buying or selling so these probably should be plus or minus but as we click left or right you can see that clicking to the right starting to increase the number of contracts and clicking to the left of decreasing the contracts and you'll notice that that number is changing down here within our order ticket so if I click on that again we'll get back to a one lot then we can also quickly jump to another expiration let's say we wanna go out here in time and we wanna jump into April so now we're into the April 20th expiration 50 days to go so it's very easy to quickly jump back and forth through this process just by clicking the buttons clicking on swap will just change the action you're taking with these options so we're selling the 180 right now we're buying the 185 I click on swap we're now buying the 180 and selling the 1805 so we have a long call spread instead of a short call spread there and then just like a web browser undo or redo we'll go back to the different actions that you were taking so you can view you know whether you were moving a strike around or whatever it might be you can just quickly jump back and forth in terms of the frames that you were looking at and clear will clear that off but what I like about this too is as you're setting up trades let's just say we're gonna sell this 5-point wide foot spread we can see some relevant information without having to go ahead and click that review and send button and down here at the bottom we have a probability of profit which is gonna be the probability of your break even expiring out of the money for options that you're selling or spreads that you're selling it's gonna be the probability of your break even being in money at expiration for anything that you're buying we have the extrinsic value here so $114 an extrinsic value out of the money spread same as the price we have a P50 value and this is kind of interesting this is something that we do specifically here at Tasty Works and this is a Monte Carlo simulation that just looks at given a static implied volatility and granted implied volatility will change but given the static implied volatility right now about 27% we run a Monte Carlo simulation and it effectively shows you through that random number generator how many of those different trades or those different prices reached a point equivalent to a value where you would close this position at 50% of the credit that you receive so it's effectively a little way to see kind of a loose probability around the likelihood of getting to half of your potential profit which is gonna be greater than you know that probability of profit so a couple different numbers that we look at more so for a gauge certainly they're not static markets are fluid this is gonna move around they're gonna change but it helps us in determining you know where we might wanna set up our strikes if we're selling options or if we're buying options additionally we have the delta value of the spread so we can see that this is a bullish trade we want the price to go up right now it's equivalence to being long about 12 shares of stocks so it has 12 deltas we have the theta value on a per day basis so if we sell this for $114 down here right now and granted it's not linear but some we've got $1.23 or almost $1.24 in theta decay between today at these prices and the end of the day tomorrow and also then the max profit and the max loss of our trade so difference between the width of the spread and the credit received we've got a loss of 386 that's our risk max potential profit of $114 so all that information is displayed as we make adjustments to this you'll see that that information changes and that data changes so we widen the spread out we're doing this for a better credit $235 which can see we have more risk and so this allows you to in combination with trying to find something that maybe has probabilities that fits your level of risk aversion or your setup and that risk-reward ratio this allows you to kind of quickly see the details of the trade while you're setting the trade up and it's gonna be dynamic and adjust as you make changes here one last thing I wanna point out is at the top of the option chain right now we're looking at the volume for each strike we're looking at the delta for each strike but if you click on these two labels you'll be able to open a menu and this is gonna show you some different data points that you can select to view so maybe we wanna see the probability of these options expiring out of the money click on that we can see the 170 is at 66% and the 162 half is at 83% change volume to open interest or anything else we get some details about those particular strikes additionally we have a strategy menu at the top of the platform here so this would be similar to if you were to right click on any strike in thinkorswim for example you would open up a strategy menu here you click on this it opens the menu you'll see that you can toggle from short to long from selling to buying or vice versa and you can toggle any of the puts to calls and vice versa and then once you've done that you can click go and that'll set up the strategy so we just change that to a vertical call spread that we would be buying so that's the table view before I move on to any of the other modes here is there anything you'd like me to answer? Yeah a couple of questions here Ryan one from John he was asking about the backend of TastyWorks mainly what's the chance that your servers get overwhelmed trades don't occur stability that kinda thing so that's a great question that's something that we've been very cognizant of throughout the last year as we've been getting started we you know personally I'll notice that let's say you go back a couple of weeks we had an environment where markets are selling off ton of volume, ton of activity and you can't log into your particular broker so you need to take an action and you're not even able to get in to do that we haven't had any issues at all as we focused for about the last six months on just purely on stability so while we haven't been able to launch as many of the cool features or the different things that people have requested most of our core development team's focus has been on the backend has been on the overall infrastructure setting up a second data center essentially in New York or New Jersey and also working on our not only hardware but the software behind the scenes here in Chicago so we are extremely fast we like to think we're one of the fastest we have the ability to really tune it up if we wanted to as we get more people we are 100% able to scale and that's something that like I said we've been conscious of so I would say relative to anybody else I don't have technical specifics off the top of my head but we have not had any issues in terms of stability in terms of people not being able to log in when you see a market that starts to sell off or you see a market that all of a sudden everybody's participating Yeah, I'll echo that too I've had the same experience where with other brokers where there's technology glitches or freezing up of the platforms I mean, the Tastyworks platform from my experience so far has just been nothing but smooth sailing I mean, it's fast it's reliable I just I haven't had any issues at all so, kudos to you guys on that Yeah, I appreciate you mentioning that you know, that too might be a function of the fact that we don't have a ton of features some people will say well, you don't have this, you don't have that and at times that can depending on the system that you're running the platform on some of that stuff can really bog it down so with the lack of you know, lack of things like fundamental analysis around particular companies or whatever we're able to just really run a lightweight very fast platform that allows you to trade options and set stuff up very quickly and you know, hopefully we see that stability continue going into the future but it's certainly on the front of our minds stability and security are you know, one of the things that we've focused on for really like I said about the last six months or so and Ryan, another kind of tying into that and I don't think that we have time to do a full demo on the other but as far as the web version and if somebody's trading from work you know, trying to get around the firewall and not being able to download software that kind of thing speak to that a little bit and maybe a little bit about the difference between the desktop version versus the web version Yeah, well, I'll be upfront with everyone we haven't given the web version nearly as much love as it deserves or as it needs at this point so it's certainly not my first choice in a trading platform though I understand most people have a job and most people work in environment where there's a corporate firewall you can't stream the data you can't even download the platform in terms of the desktop so they have to resort to the web it's not gonna be as fast for sure it will allow you to do everything that we show in here it does present all of the same information you'll be able to really see for the most part everything as it pertains to the option chains as it pertains to your positions the one thing where they're entirely different and really lacking in the web is that we just don't have a robust charting package at all and I wouldn't say that we have the most robust charting in the desktop platform at this point but the charts are very, very basic there's no indicators or anything like that when you look at the web based platform so that's an area where it's really lacking though it is the only resort if you have to get around a corporate firewall and you can't use the desktop platform the web platform will get the job done but it is gonna be constrained by the fact that it's a web based platform it doesn't really get to harness all of the processing power of a desktop like a desktop platform would. And one last tech question here John's asking about do you guys use your own hardware or are you using AWS, Google, Azure, some other? So we use our own hardware and then we also run microservices using AWS so depending on what it is specifically it could be a microservice that could use AWS or it would be one of our numerous servers but we have a data center here in Chicago we have a data center in New York so any of the actual, the trading activity would not occur on the cloud it would occur via the servers but there are some microservices and different things that we run different processes that we need to have in place so that at the end of the day you have reconciliation that occurs, et cetera some of that stuff we do through AWS but the majority of it is gonna be on our own hardware. Cool. All right cool let's keep moving. Craig I see your question there and when Ryan gets the active tab we'll address that so keep going Ryan. Okay cool so I'm gonna jump over to the curve very quickly anything that you set up on the table you're gonna see on the curve as well and now the curve is just a different way to view what you're doing all the information is exactly the same this is something that we rolled out a few years ago with our web-based software and the idea behind this was that this would be more of an educational tool for anybody that's brand new to option trading you can very quickly visualize how these strategies work in terms of what you want the stock price to do relative to what you're setting up here you can quickly see green is good, green is money we want the stock price to move higher in this case and get into that green zone and this is telling us that this is a bullish trade which we know it is as we're buying a call spread if it goes lower we know that it's not what we want to have happen because we want the stock price to go up so this is something where you can really visualize your trades and you can also see some information a little bit better around what market expectations are so we have this distribution curve you'll see with the 28 days this is showing us given the current level of implied volatility what are those two standard deviation moves what are the probabilities that the price if we use the current price as the mean and with an implied volatility of we'll call it 27% right now for that 28 day period this is showing us then where the market expects the stock price to go so we can see that right now there's a 68% chance or so or the market's pricing and I should say a 68% likelihood that in the next 28 days Apple will stay just above 160 and somewhere just below 190 we'll call it 187 or so certainly that can change but if we have control over risk management to a degree at order entry we have a control over the probabilities that we can put in our favor or not in our favor when we're setting up trades with options here whether we're selling or buying this helps us to kind of gauge given how the market is pricing options you know what are the chances that our call or our put or whatever it is that we're doing here what are the chances that they're gonna expire out of the money, in the money what do we think the stock price is gonna do over this period of time and that period of time for this case being 28 days so it'll actually kind of visualize the implied volatility instead of having to say well implied ball is 10% the stock price is 100 so I know that 68% of the time even a 10% implied ball the market is pricing it to trade within a range of 110 or 140 or 90 instead of having to think about that or do it we just show you right here coupled with the strategy that you're setting up so you can see exactly how that strategy works you know if we were to open up the strategy menu changes to an iron condor instead or if we were to go over to the table and click around we would see that this is now a neutral strategy so if I add that there jump back to the curve and we move these around here it'll adjust and it'll show us what we want the stock price to do and here we want the stock price to stay above the short put and below the short call so this is the curve it's not any different in terms of the information that's available or displayed just in its presentation I'll jump over to the active tab now and I'm gonna switch to a different symbol so I'm gonna set up instead of the positions watch list I'll drop down our taste to trade futures because we're primarily gonna trade futures here on the active tab and this is similar to a ladder this is our first iteration of kind of an active trading platform within the TastyWorks software it pertains for the most part to futures trading relaunch futures a few months back but it's pretty simple pretty straightforward you can't trade off of a chart just yet you can see a chart for the symbol that you're working with but it's not as robust I'd say as some of the charting and other platforms so I know that anyone that's a chart trader and a lot of people certainly are this is not the best way to do it but we are working on some improvements but to give you an example of how this would work you select the symbol so here we've clicked on WTI we've clicked on crude futures here we've got CL slash or slash CLJ8 we can see the bid you can see the offer and up here in parentheses if I want to sell this I'm gonna click on the bid and then from here I can adjust that price so as I drag this up or down it's gonna allow me to sell it at 61.36 or 61.44 whatever it might be as I start to move this up here it'll allow me to change that price I don't know why on this screen I'm on for some reason I'm not able to I'm not clicking in the right area to focus this here but normally I would be able to just drag this up or down and same thing with anything that you're gonna buy so if we were to look and say maybe we want to buy very quickly we want to set up something where we're gonna buy an S&P future we can then drag that and at this time it's clicked on the right thing we can drag this so that I can set this up at any price or if you have an idea of the price you can simply just type it in up here or click on these buttons so there's a few different ways to do the same thing but what this does is just basically show you and where the current price is in a similar fashion to some ladders or some different trading domes that exist in other platforms shows you where your order is relative to that price and then once you get filled it'll show you your basis and that information that's relevant to the position over here so you don't have to jump over to the positions tab you can see this is gonna cost me a little bit over $6,000 of buying power 15 days left and so we're gonna roll this position to the next expiration and then as we have the sign we'll see the P&L open P&L day as we add contracts or take contracts away we'll see that overall delta position and we'll see the notional tick value as well as the minimum tick size here too so you get a sense very quickly if you're brand new to futures trading maybe you don't know what the tick size is or what that notional dollar value is per tick for say corn futures well when you click on corn futures click on slash ZC it'll show you that information in here and then also some information about the symbol itself you can see that we were down about almost 35 points at the moment so that's the extent of the active trader there really is nothing else that it does at this time other than allow you to set up buys and sells with futures and then make adjustments from there and you can't do individual stocks or directional options on it either at this point, right? You could I don't believe that you can do individual options because I'd have to be able to from here pull in the overcode and I don't think that we can do that but you should be able to click on Apple for example and buy or sell so if I click on the big here I can decide to move Apple stock around and sell it at whatever price I want so you can do that we don't have level two quotes that's a popular question I get the reason for that is we don't in terms of our existing customer base we don't have a lot of equity traders so it's just not something that we've paid to get the data for but could be at some point in the future at the moment we don't have it but you could so just take a step back you can sell, buy and sell both futures and individual stocks here and Ryan one of the questions from Craig was is there a way to set up a trailing stop or a stop loss on a buying a call or a put or a credit spread and I'll give my two cents and then I'll let you answer as well Craig my two cents is this if you're buying an option like a put or a call that's a defined risk trade and so your max loss is defined anyway so I don't know why you would use a stop in that case and the same thing for a credit spread but our philosophy at navigation trading is if you're putting on defined risk trade that is kind of the amount of risk that you're willing to take on that trade but Ryan I'll let you jump in there and see if there's any other answer that you have as regards to the platform well you could certainly use those order types we will not do that for spreads just because Tom and Scott's past experience would think or swim it could sometimes not be to the customer's benefit to use a stop on a spread they can get filled at prices that are not again not to their benefit so we don't do stops on spreads but if you were to do an individual equity a future or just a single option you can change that order type here and you can use a stop market or a stop limit and then you can move that stop price up or down as you see fit one thing I do wanna mention though is that we have some improvements coming so if you start to trade features through here personally I get a little frustrated with the process that you have to adhere to because you have to set some of these stops up you have to set your stop up separately from the order that you might enter to take a profit so that's kind of a pain we also do not have conditional orders that's something that we are actively in the process of adding but that makes it really difficult to have a stop in place as well as in order to close out of your position because if one or the other gets hit it doesn't pull that second order off of or out of the book and so that's where at this point it's kind of a problem so we need to get that in there as soon as possible we are working on that but the conditional orders the brackets those don't, they're not available at this time cool, thank you so that's the table, the curve and the active and now let's cover the analysis or the analyze mode here so you could do three things with the analyze mode you can do some analysis around an existing position you can do some analysis around a new potential position that you're gonna open up and you can also look at the impact that a new position would have on your existing position so let's just take a look here and what I'm gonna talk about is gonna apply through any of those three scenarios but it's easiest to just look at something that were excuse me that we're thinking about setting up so let's just say that we think and this is kind of a hypothetical this might be the way that I would approach it or I see a lot of our customers approach it and certainly people are gonna do different things and I'm happy to answer any questions anyone has but let's just say you wanna get a sense of I'm coming in I'm gonna sell a strangle on Apple I think the implied volatility is relatively high I think the option prices are expensive I think that Apple's gonna be range bound and it's gonna come down those option prices are gonna come down a little bit in a couple of weeks and I wanna see what the theoretical P&L might be should I be correct in that assumption so let's say that I open up the April expiration here and I'm gonna sell the we'll say I'm gonna sell the 185 call I'm also gonna sell the 160 put now I don't have a position on in here so as I add those strikes as I add those options here they start to pop up if I had something on already it would appear over here in our analysis section this is the tab where you're gonna have your controls you can change the date that you're viewing the theoretical values for you can change the price of the underlying you can also adjust the volatility for that expiration period as well this is where you'll change that implied ball but to view the analysis you can't yet view it on the table we have something that we're gonna overlay on top of this the way I like to think about it though is that it is just an overlay we are on the trade page so anything that you do if you click review and send that is gonna route a live order so keep that in mind but where you can view the analysis controls are on the curve so if I click on analysis that'll open up some buttons at the top then I need to click on either curve or on the right hand side of the platform click on view analysis either one will do the same thing when I do that you can see that now we've opened up and see if I can widen this up just a little bit here now we've opened up our analysis view we can zoom in a little bit to see it a little bit better we can zoom out if that's the case we can also change the scale from here what we're looking at at the moment is simply just the P and L at expiration so this might be some place to start if you wanna get a sense of at expiration what's my proper loss gonna be stays in the green zone it's gonna be $410 what's it gonna be if we start to see this move higher getting shorter and shorter it's moving against me okay at about 200 I'm gonna lose a little bit over $1000 at expiration so that's your at expiration we can also turn on our theoretical value as well and so let me talk a little bit about the theoretical value what this is doing and the only model that we're using at this time I know in other platforms you can switch between the pricing model that you use we'll add some additional ones right now we use the Black Shoals model so we think it's pretty straightforward and what this is doing is taking those inputs into the model and those inputs you can change over here such as your days to expiration we know the strikes of the options already but we can change the days to expiration change the price of the underlying stock we can change our volatility input we're gonna use the risk-free rate you can't adjust that yet but it's gonna take all of those inputs and it's gonna spit out a theoretical value for each one of these options it's not the value that is currently in the markets but this is just giving those inputs theoretically what's the price that we get from that model and then using that price we swap out the actual price in the market where your mark is and we use the theoretical value instead to then compare to your trade price so you have a sense of using those theoreticals what's the theoretical P&L given what I bought or sold these options for my position so that's why you'll notice right now just given where the spreads are and what those theoreticals are this is spitting out a theoretical P&L for March 1st of $42.52 in the red but let's say that we wanna make some adjustments to this and our initial assumption was about volatility is gonna come down price is gonna stay relatively to where it is right now relative to where it is but we're gonna see time pass by a couple of weeks if we go over here and we change this so that that's the case we can open up a calendar or we can simply just click on the left or right arrows to change the date but as we do that and we say we're gonna go out here a couple of weeks you know, let's just even go towards the end of March and we're gonna drop the volatility down by a couple points here we'll click down we'll drop it down by 3% or so from the 26 or 27% it was at to 23, spot 5% now we can look at this and see okay even if the stock price starts to move around a little bit theoretically if those conditions exist by the end of March another month or so here we should see a good chunk of that potential profit so one of the things that I think it allows people to do is start to get a sense of if this is the style of trading that they're doing when might they wanna think about or what would a target be in terms of looking at this and managing that trade at a profit but also be able to see where you would be in terms of this starts to get out of control and what are my losses and then how do I have to manage this so that's a very straightforward way this is the first iteration of the analyze mode but it allows you to see given different inputs given different market conditions and the black-shoulds model here what are my theoretical P&Ls when I do that a couple other things that you can throw on here that I think are interesting both the analysis curve so this is the distribution curve that's gonna be a function of our implied volatility input on this effective date so on 328 so even if we wanted to go back to March 1st and just either jack up or turn down the volatility we can get a sense of what that new one standard deviation move looks like what those new probabilities look like as we see volatility either move up or move down we can also compare that then against the current default for our overall expiration and so we can make some adjustments to that to get a sense of just what this might look like as the market changes anything that you click on at the top you can just click on a second time to remove it so let's say that we remove that we've looked at it we think it's interesting but we also maybe wanna do some analysis around if this gets out of control this particular strangle with these naked options you know when might I need to do something given a delta value that's either too high relative to what I want it to be or too low and so if I open up the Greek menu here right now we're not showing any of the Greek values but we can see how our deltas would change theoretically based on the pricing model what would the deltas be should these conditions exist on 328 but the stock price is down here at say 160 well we're gonna be long about 47 deltas compared to short say 10 deltas right now 11 deltas that we can see down here so this can also give you a sense of when maybe you might need to step in if you want to start to flatten out or balance out those deltas again based on the black Scholes model and you know theoretically where we might be at and Ryan are those deltas specific symbol that you're looking at or those beta weighted to SPY as well they are specific to Apple in this case what we don't have available yet and we're working on is the ability to view changes in the market relative to your entire portfolio so taking that beta weighted portfolio and simulating higher implied volatility the passage of time et cetera seeing what those beta weighted deltas might be and as a result also seeing what that portfolio P&L might be got it got it so looking at this this is the first iteration of our analyze mode there's not really much else that it does aside from you can turn some of these things on or off you can see that there's a lot going on here by default we don't show you all of that at once but you can view those you know the changes in the Greeks you can view your P&L zones either the theoretical zones or the at expiration you can turn quotes on or off so you can see the bid and the ask at those various strikes you can also set up new trades and anything that you do on the table or the curve you can then analyze just by clicking on analysis and if you wanted to analyze just one option or you had a position you wanted to look at different expirations whatever it might be you can click on these boxes over here on the right so now we're only looking at the short put we've removed that short call so if you have a bunch of different things going on here and you're thinking about putting on new positions but you can't decide what strike looks best what makes the most sense for me you can either include or exclude those from your analysis excellent that's great stuff Ryan any other questions from the navigation trading community and right out I don't want to cut you off if you were going somewhere else next oh that's really kind of the overview of I think the pages in the platform that people spend the most time on I do get questions about do you guys have charts, do you have indicators so if that's not anything that Tom covered over here on the left hand side you hold your cursor over it you'll see that we have a couple different pages you've got watch lists have the ability to create watch lists and filter those watch lists you can sort them there's no way to screen a universe of stocks for specific conditions currently but that's something we're working on so you have a watch list tasting trade is just, looks like our website you can watch some tasting trade content the charts though can be accessed by clicking on chart these aren't as robust as they eventually will be it's a pretty basic implementation of a charting package from our co-provider which is DevExperts you can add some indicators just click on indicators there's a handful of different technical indicators that might be popular with traders we have the ability to customize the colors the view, the timeframe as well as the number of bars or the type of bars that you're using so right now we're looking at a one year daily we wanted to look at a one day, one minute we could, that's the fastest chart we could view you can change it from candlestick to bar to line or area graph and then there's just a handful of settings and different tools such as trend lines or you can draw fibs or support resistant zones, that kind of thing so very basic charts right now we don't have a scripting language or anything but we do have that built on the back end we just haven't implemented it through any type of easy to use interface and then like in most other platforms we've got our history so we can see what we've done in terms of P&L year to date you can look at our transactional history you've got our activity tab but for today's webinar I think the areas of focus and where we spend most of our time positions and trade and that new analysis tab so going back to your comment on the custom indicators released in that script you mentioned that's coming you know one of the things that we use a lot in our training is an indicator that we put below our charts that shows both the IV rank as well as the IV percentile I know up by the in the upper left they're kind of near the symbol you already have the IV rank displayed is there any in the future are you looking to also display IV percentile or what are your thoughts there yes 100% we have some work that we need to do that we just haven't gotten to yet in terms of allowing everybody to change the timeframe for the ranks to change the timeframe for percentiles and obviously add percentiles and also view that indicator on the charts that you guys are looking at as well many people like that it's very helpful but instead of saying you know you've got to copy that script add that script and go through that manual process what we'd like to do is just let you click a button and it's right there you can tweak the parameters but just click the button and then go to the setup so it's not as difficult to get some of those things in there we want to take a lot of those indicators that we know are popular and just allow people to click on the button to add them and then Ryan so we got a question from John about downloading and trying with a simulated account I know you guys are coming out with kind of a paper trading account here before long right now if they download the software which I put up a button there so if you want to go open an account download the software you can what is the functionality restriction before you fund the account if any talk about that a little bit okay sure so if you set up a username and password start the account opening process as long as you're registered in our system with that username, email address and the password that you've created you'll be able to download the platform you don't have to fund the account you'll be able to get familiar with all the different tabs you'll be able to use all these features in terms of doing some analysis around potential trades looking at certain things on the trade page I believe it's either a 10 or 20 day period I think I want to say it's around 20 day period where if you don't fund the account with a minimum of $2,000 we turn the live quotes off and the only reason for that is just that we get charged and it becomes expensive across all the different accounts on a monthly basis so we get charged if we provide live quotes so we don't charge customers whatsoever for anything when they're trading if you fund the account with $2,000 you keep those live quotes going but if it's an unfunded account we turn the live quotes off you'd still have access to the platform though so you can get familiar with it you can use the features the one thing that you won't be able to do the only limitation aside from the delayed quotes is that you can't actually place demo trades or paper money trades and then view the life of those trades in the positions page so we don't have demo trading that is coming hopefully by the end of the year and for obvious reasons we're about a year out and we had to make sure that we had everything kind of tightened down locked down with real money trading and then we'll be able to kind of offer that simulator so it's not that it's extremely difficult for us to do but we do have to partition the servers in a specific way so that no demo trades or there's no way that you can add $20 million to your account and fire off some demo trades and somehow make it into the market and we're responsible for so there's a little bit of work that we have to do but it is coming soon but in terms of limitations that's the only one you can't actually, you know, monitor a pretend or paper money portfolio you can use everything else in the platform now. Great. Ken is asking about the access to more tasty works trainings. Ken, you can go to navigation trainings YouTube channel we've got, you know, our previous web class with Tom Sosnoff this web class will be recorded and we'll shoot it out to you tomorrow morning and then other trainings, Ryan I'll let you direct him to where they can find that. Yeah, if you know if you get started and you have a question about anything at all you can get live in-person support if you call our trade desk we have a staff of 20 people or so that can teach you how to use the platform show you where to go that's one way to go about it we also have a very, very extensive help section here and so if you click on this this will open up our help center within the platform and you can see that as we scroll down you've got a few different sections that you can go into now some of them have a little bit more content than others the platforms and software section has 54 different articles each one of these articles for the most part has a video so if you have a question about doing a specific thing on the trade page there's a video for that I've done most of the video so if you're sick of my voice by now maybe you just want to read the text you don't have to watch the videos but we have very extensive support help articles very well thought out with a lot of different pictures and I think for the most part if you have something specific you're looking for just type the search term in here at the top and you will find the relevant article and if you don't understand what to do or you still have questions after that you can either reach out to us via phone, chat or email and that's just support at tastyworks.com Cool and then lastly John's got one parting question and I'll give my two cents and then let you touch it touch on it if you want Ryan but he's asking it's like he currently uses TOS and wants to know why what your pitch would be on why Tasty Works is better my personal opinion is TOS is a great platform I still use it today I would say once Tasty Works starts offering options on futures because I trade a lot of options on futures I will most likely make the switch 100% right now I trade on both so Ryan it's kind of like commenting on your ex-girlfriend I don't know if you want to comment on that or not but I'll let you decide Yeah and I can pretty much echo what you just said TOS is a fantastic platform and has a lot of features I still use it and I do trade a lot of options on futures as well so I have money with Tasty Works I certainly work for Tasty Works with Tasty Trade I trade on both platforms each day I can't wait for us to get options on futures with Tasty Works that's one of the reasons why I still have some capital over there but you know I think and not to downplay Tasty Works here but TOS at the moment does have more robust charts so if you're a chart trader or you like a lot of different indicators that might not be in the Tasty Works platform you know that might be one area where that TOS is better I would say counter to that Tasty Trade depending on your style of trading excuse me Tasty Works depending on your style of trading has a very nice commission structure and I'm sure you've touched on that but if you're trading larger size we cap the commissions to a degree depending on how many legs make up the trade it's a dollar to open a trade and it's a dollar to open a contract it's free to close but we cap each leg at $10 so if you did a thousand contracts you would only pay $10 if you did a thousand vertical spreads you would only pay $20 so the most that you would ever pay on a trade is $40 and like I said we only charge on the opening transaction whether it's options it's equities or it's futures and ultimately or it's options on futures we only charge to open there's no closing charge so it makes it a little bit cheaper depending on what you're doing so I'd say that's the benefit with Tasty Works it's also very fast and what I like about the Tasty Works platform some of the things that I've showed you just how easy it is to click set up the trade once you get used to that I find that many times now that I'm used to that I'm used to the way that the information is displayed in Tasty Works I do struggle a little bit and find that it's a little bit clunkier navigating some of the other platforms that are out there so I think two different platforms two different maybe types of customer and I know recently it feels like Thinker Swam and TD Ameritrade I started to go in some different directions and maybe the direction we're going in but I'll say if you are an options trader you're looking for a lightweight platform that's very fast makes it easy to do some of the very basic things that I think a lot of traders are just looking to do this is a great place to be Yeah and I'll say this as a customer I think you're downplaying the commission thing a little bit Ryan because that is so huge I mean the amount of commission that you pay at one broker versus Tasty Work is such a huge deal and in fact for anybody who hasn't seen it even as free members there's no cost for this or anything but if you log into your members area at Navigation Trading we have a sheet that allows you to compare broker commissions so if you're trading on one broker you can input any fees or costs or commissions associated with that broker you can put a side by side comparison of Tasty Works or anybody you want and give you an idea of how much commission you're going to spend over the course of the year I did this personally with Toss versus Tasty Works and other brokers and I mean it literally can reduce your commissions by 70, 80% over the course of a year it's crazy Yeah I think that obviously has a big impact on your P&L and maybe Tom touched on this a little bit but that's our goal here is to make trading accessible give everybody the tools and the technology that need but also not make it prohibitive in terms of cost so we're trying to put some pressure on the industry we're trying to go in different directions and we can still make money while making it a lot cheaper for everybody else to trade and I think ultimately over the long run you're already starting to see inequities with firms like Robin Hood I think you're just going to see continued pressure on costs and it wouldn't be surprising at all to me at some point if we see that it's free to trade in terms of commissions Excellent Ryan, we really appreciate your time today it's been awesome hearing your knowledge about the platform I know you probably know it better than anyone else over there so loved having you on thank you for your time Thank you If you have any questions we'll let you go Okay great, thanks a lot for the opportunity and you guys take care All right guys everybody have a good one talk to you soon