Spread Book

The Spread Book is a database that contains all working orders of clients using thinkorswim. You can scan the Spread Book for potential trading ideas based on spreads that are currently traded in the platform. The orders contained in the Spread Book are completely anonymous and users are not able to determine whether the trade is being placed as an opening order or a closing order. Nonetheless, you can view the trades that have been placed but not yet filled.

How to Use Spread Book

  1. In the symbol selector, type in the symbol you would like to perform the scan for.
  2. In the Spread drop-down menu, select the spread type you would like to view the orders for. Selecting All will display all orders for the specified symbol regardless of the spread being traded. In addition to the regular spread types, you can select unbalanced spreads, i.e., spreads in which the number of options sold does not equal to the number of options purchased. In the Spread menu, unbalanced spreads have tildes before their names (e.g., ~Butterfly or ~Iron Condor).
  3. In the table below, you will see all working orders for the specified symbol with the selected spread type. You can sort this table by a number of metrics represented in column headers: clicking on a header will sort the table by the respective variable in the ascending order, clicking again will change the order to descending.
  4. You can create your own order based on any order featured in the table: right-click on the desirable order and choose Create duplicate order (or Create opposite order if you would like to follow the opposite trading strategy). This will populate the Order Entry dialog with all the necessary fields.
  5. Carefully review the information in the Order Entry dialog and make changes, if necessary. Click Confirm and send.
  1. Click the Scan tab and choose Stock Hacker from the sub-tab row. Click the Sizzle Index button  on the right of the Stock Hacker header. This will load the Top 10 Sizzling Stocks scan template.
  2. By default, three stock scan filters are added in the template: minimum last price, minimum volume, and minimum market capitalization. If necessary, modify these filters. The total number of matches is displayed live on the right. Note that even though each filter may display a certain number of matches in pre-scan, the actual scan may return no results, as the stock needs to match all the specified criteria.
  3. If necessary, add more filters to the scan by clicking the buttons on above the filters area. You can use up to 25 filters in a single scan and only one pattern filter is allowed. To remove a filter, click X on its right.
  4. Click Scan. The results will be displayed in a watchlist-like form (and you can actually save them as a watchlist by clicking the Show actions menu button and selecting Save as Watchlist...). Virtually all operations available in watchlists are also available in the search results: you can add or remove columns, adjust sorting, add orders, create alerts, etc.
  5. Consider saving your scan query for further use. To save your query, click on the Show actions menu button next to Sizzle Index and select Save scan query... Enter the query name and click Save.
  6. Scan results are dynamically updated. If you would like to be notified of changes in the results, consider adding an alert on the changes. To add an alert:
    • Click on the Show actions menu button and select Alert when scan results change...
    • In the dialog window, specify which events you prefer to be notified of (e.g., when there is a new symbol that matches the criteria or a symbol that no longer matches them) and the scan query to be monitored.
    • Specify the frequency options: whether you would like the system to notify you of every change in the results or send you a list of changes on an hourly, daily, or weekly basis.
    • Click Create. The alert will be added to your Alert book.