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hello and welcome to our trading webinar and we're excited to have you here and thank you for taking the time out of your day to join us we're happy to have sean herron president of regal securities present this webinar today on using options play which is our online trad trading strategy tool free for all customers my name is gina bokaios and welcome and to provide some basic logistical information about this webinar today the session will last approximately one hour if you have any questions during the webinar presentation please feel free to type them into the question box on the bottom of your screen and our speaker will answer those at the end of his presentation we ask that you use the q a box and not the chat box as if you put it in the chat box our speaker may not see it also you can reach out to our trade desk at any time after the presentation if you have additional questions after the webinar you can also access a recording of the webinar in the next week on our website and as a courtesy we will also be emailing all of our attendees a copy of the recording so you can review it at your leisure and for those of you just joining we'd like to welcome you to our webinar on using options play which is our online strategy trading tool to help spotlight option trading opportunities for you and it's for traders of all levels whether you're a beginner option trader or if you're more experienced and advanced we find all traders of all levels enjoy using options play and get a benefit out of it and and we're excited to tell you that this tool is free for all of our customers it's normally 500 annually and at our firm we hope that you also take advantage of our extremely low commission rates all of our stock and etf trades are just zero commissions and our option trades are some of the lowest in the industry just 10 cents per contract plus 1.99 per trade much lower than a lot of other firms out there that charge 65 cents per contract we also support trading and education and we're glad you can join our webinar today to learn more about using options to trade in this volatile environment that we have i'd like to turn our attention to our speaker now sean herron sean is currently president of regal securities he's an experienced options and equity trader with over 20 years of industry experience he's been using the options play tool for several years and will provide an expert's view as he walks traders of all levels on how to use its features to find trading opportunities using options after receiving a bachelor's degree from illinois state university in 1992 sean began his career in the financial services industry as a limited partnership trader with chicago partnership board shawn joined regal securities in april of 98 and over the years has worked in nearly every department at the firm so without further ado we'll turn it over to sean herron and he will begin his webinar thank you okay very good thank you gina appreciate the introduction and as genius said we're going to be getting into options play today uh hoping to show you some new ways to use the product and and get uh get a handle on you know different ways to generate trade ideas in this volatile market so just some housekeeping items here on the front side so i did want to go over our disclaimer um so disclosure we need to review this options may carry a high level of risk and may not be suitable for all investors certain requirements must be met to trade options through any division of regal securities please read the options disclosure document titled characteristics and risks of standardized options before considering any option transaction a copy may be requested by email at support regal securities dot com or by mail to regal securities 950 milwaukee avenue suite 102 glenview illinois 60025 a complete copy and its supplements can be found online at the occ um at the address posted there and again this webinar is for educational purposes only and should not be considered securities recommendations or trading advice by regal securities okay very good thank you so uh yeah let's get into this here what i've brought up here is probably familiar to most of you um this is our desktop trading platform uh this is my personal layout you know i use this every day like like our customers and um i can kind of show you a little bit about this uh features beyond options play after we go through the product itself so uh let's go ahead and get into it so finding options play you should have you know as as gina said this is free a free software product to all of our customers it's built into our online desktop trading platform and you should have a tab at the top titled options play but uh if you don't show it there you can always go to the add a tab and then click on the tab should bring up a blank one and then add a widget and then options play will be one of the choices of the widgets and it'll populate in that screen going back to options play so options play is a great tool to help you visualize options and strategies associated with options certainly you need to be approved to trade options and there's different levels of approval those different levels will also enable you to do different strategy levels and we'll go over some of those different strategy levels here today but options play is is a great tool to really you know break down the trade and what you're looking to accomplish what your potential profit and loss can be and it enables you to simulate that before actually placing a trade so we'll review all that here today um you know options can be overwhelming as we all know you can go to the option chains and you're you have just massive quantity of data there it's you know if you look at a spy chain it's just a ton of strikes and expirations and it can be difficult to sift through that and determine how you'd like to employ your strategy so options play kind of cuts through that and helps you again visualize the trade so what we'll do here is we'll go through this kind of in three different steps uh there are three panels here on the options play screen the first one really how they describe it is the um you know the what why and how so the left is going to be what the middle is going to be y and the right is going to be how and and we'll go through that together here so the first uh the left hand side is where you would generate ideas so there's a couple different ways you can go about this and so you can go with the trade ideas which you see here at the top and what this is is a daily curated list by options play by their proprietary scans where they determine based on typically technical data which stocks will fall into a bullish or bearish pattern worth noting so you can go with their suggestions and these lists will vary in size depending on which stocks hit their metrics and so today you can see on the bullish side we're seeing about six different stocks and on the bearish side they've come up with three you can also break these down further by small cap medium large mega and then there's a drop down for sectors it's only showing you the sectors where the scans generated an alert today so typically there you'll see a lot more sectors depending on what comes up that particular day and also what scans generated those particular names and so today's names were generated by you know rally in a bearish trend stock and overbought bearish crossover and the williams overbought ferris crossover so in addition to this those are some trade ideas that you can have generated but we also have watch list so we all have our watch list the stocks we like to watch you know i have mine right here i keep on my main screen and so what they have here is is sectors showing right now there's 11 sectors that you can scan as well or you can hit this drop down menu and go to my watch list and you can look to add a new watch list so let's say i'll add a new watch list i'll call this tech and i will add some stocks we'll go with apple go with google facebook tesla you can create your own you can create multiple watch lists it's strictly up to you grab a couple extras in here notable names that you're used to so um so you've got your your names here and so you're gonna generate your ideas from this particular uh column and you'll see also that it's giving you the name of the stock it's giving you the price the change on the day and then score so the score is going to be what they call the technical score and it's one through ten and what this scores is the stock's relative strength to the overall market is it you know is it strong with the market or is it lagging behind and so what you'll see here is you know tesla's got a pretty high score they got a 10. alibaba has been coming down it's got a three right now and then just to the right of that you'll see uh the arrow of the trend over the past one month so this is pretty much where you're generating your what and then when you click on a particular name on the left side it's going to populate that on the middle and the right hand panels so what we have here is i clicked on tesla and we'll go through the middle panel now which is the why of what we're doing here so there's a lot of data here we can go through this so tesla it's up big today they got added to the s p 500 last night uh as a result there's a lot of etfs and funds and different people have to buy the stock uh to be to be able to mimic the s p 500 it's a typical move when that when that news is announced and i know if you follow the stock they were been anticipating this since july um so what we see here on tesla you know it's 4 45 you can see the data is streaming uh it's up nine percent today the one month trend is bullish the six month trend is bullish the stock has just gone parabolic here in the past um what seven months or so it'll give you the range uh dividend if it's paying a dividend volume on the day the pe the beta and then down below in the middle part of the section is the chart which is an interactive chart that you can use uh what you'll see here is you know options play also likes to show things not just in a visual way but also a verbal way so down below it gives you some important information the earnings date is expected on jan 27 71 days p.m meaning after the close dividends not paying the price action puts it into regular words it's crossed above it's 50 day moving average at 420 and the trends have turned bullish today uh going up to the chart you can do a number of different things here you can change the type of chart handlebar line chart you can stick with candle you can change the month range you can hit this to size in and out and you can also expand it so we've expanded it here you can drag the chart so as you can see uh tesla today is coming up to the top of this range that's why these lines are here you've hit kind of a resistance level there and then it's only traded above this level for just a couple of days ever and then down below you've got a resistance on the low side and you can see the color coded in terms of what the price action has been doing over that period of the chart so you know october into november it's been kind of red and you can see that reflected in the chart you can also add different studies onto this particular chart you can add a moving average bollinger bands the macd um you know a lot of different you can change the parameters on that as well so there's a lot of interactive items and things and then by kind of zooming it out and resizing it you can kind of you know where you think the stock might go in the future which is about options you're making a determination where you think the stock may go in a defined period of time prior to the expiration of the option so if you see a breakout continuing here you can see the upper range is probably 504 where it'll find some resistance and then on the downside it should find some support around 336. and then just click this arrow to resize it and so so you've got your what and your why and that takes us to probably the most important uh screen on here which is the how and so with each stock you can determine okay well the one-month trend is bullish the six-month trend is bullish you can say well you know contrarian i'm bearish or i'm bullish in this case for illustrative purposes i'll stick with the bullish thinking on tesla and just going back to the chart again you can see down here where it defines where it feels the support and resistance lies on a technical basis so you can use that input when determining option strategies if you like so okay so we're moving on to the third panel and there's two two ways you can use this people can use options to trade different strategies or you can use options to generate income we'll go into the trading strategies side of it first and so what they like to do here with you know with options play you know again very visual we want to show you as well as explain to you what it is different strategies will achieve or not achieve what your risk reward is so there's three ways most popular ways to play a bullish stance on a particular stock first panel is going to say okay i can buy a hundred shares of tesla that's going to cost me forty four thousand four hundred eighty dollars a lot of money for 100 shares certainly it's an expensive stock another way to play the stock if you're bullish is buy one january monthly 2021 call for 440. as you can see the stock is at 446.81 it's you know 680 in the money that long option is going to cost you 51.52 to purchase it and then the third panel is going to say okay the next strategy that's most popular is what we would call a vertical call spread or you know a debit spread it's also called meaning you're paying money as opposed to receiving money as in a credit spread so in this particular scenario it is saying a way that you can play a bullish stance on tesla is to buy the 440 call and sell the 560 dollar call tesla it moves a lot there's big premium in these options so you're creating a spread with a 120 dollar difference and that's going to cost you only 3 345 a lot less than just going along one call and also less risk which we'll we'll go into here um so what what you're doing here you're also seeing a score associated with each of those strategies and what that score means or what it's telling you is it's a risk reward a score um so you know the risk reward with just going along a call is going to be okay you're risking you know a little over five thousand dollars your reward technically is infinite but how high you know tesla will go is you know certainly somewhat limited by supply and demand um but on on the spread one you're risking 30 you know three hundred and 3 five dollars to potentially receive twelve thousand should the stock stay above five hundred and sixty dollars at upon january 15th so digging into these a little bit more i can click on this screen and it's going to put it more into terms like numbers so the first one you know there's my cost my maximum reward is unlimited the stock could go to the moon who knows my maximum risk is forty four thousand dollars a lot um you know um pop is probability of profit so in this scenario it's saying a forty three point three percent chance of profit your breakeven is where you buy it no expiration buying the call it's going to cost you 5185 max reward is unknown it's not limited uh you're risking 5185 your probability of profit is 29 30 percent and your break even stock needs to be above 491 on the third friday of january it gives you the days till expiration 59 days away so on the the third one the spread where i'm buying the 440 and selling the 560. my cost is 3345. my max reward is 86.55 essentially 12 000 dollars minus 3 345. my probability of profit is third almost 35 percent and my breakeven is at 473. so to break even i needed to be at 473 or above upon expiration 59 days so looking at that we come down to our p l simulator and this is really a a great piece to options play what you can do here is this is all interactive um so i can come down here and simulate different things so i you know i can say okay well i don't think the stock is going to go to 560. i think maybe it's going to go you know five whatever 530 and you can you can change these right there an so what it's doing is it's saying okay if by jan 15th the stock is at 5 30 buying the 100 shares is going to return me 19 buying the long call it's just it's going to return me 73 and the spread position is going to return me 169 on my money so the reason why the spread gets the highest score is because you're risking the least 3 300 but your potential reward is 169 percent should it stay at 5 30 upon expiration so in addition to that you can change uh expiration or you change the dates when you think here's a calendar it pops up change the date so you can play around with this and there's a lot of different scenarios that you can put plug in here you have you can analyze the chart you can take into account there's earnings on this particular date or or this particular news event is going to happen on this date so you can change those variables and really tailor it to what your expectations are so there's a number of panels here on the bottom but i did want to show we'll go back actually if you click on this going back again if you click on the chart of the scenario it's going to bring up just a larger analysis of that particular scenario and then you can also change those parameters of you know date and price and and it's going to tell you what your expected return is what your expected profit or loss you can say hey what happens if you know going back to here so let's say you know something happens bad news on tesla and it goes down to it closes today's at 4 46 it closes at 4 20 on that date so expected profits would be you would lose your investment and lose 100 granted you're buying the um what was it the 440. so you're risking in this scenario closes at 420 you lose 100 you lose 33.45 you lose less amount there than if you were just long the call which you paid 51.85 for so the interactive feature here is is really something great to explore and plug in different things because when you're looking at an option chain you don't really get that feedback you get you know you're just looking at a lot of data you got to plug in different things and different strikes and different months and it can be kind of overwhelming but this really cuts to the chase and it shows you what it is you're looking to do there so say that you know you don't want to compare going along with a long call to a vertical call spread you can also set up say you like to do you know vertical call spreads and you want to set up three different ones so so what you would do is in this panel here where it says modify click modify and it brings you to this screen where you have all these different strategies that you can plug in so i want to compare for this particular scenario let's see um so i've got a january 440 to 560 vertical call spread say um what strategy do we want to go actually neutral you have you know all sorts of different strategies you have the iron condors the butterflies you know just the straight spreads come down here to all strategies and i want to go a long vertical call there and so say i want to i want to compare it january to a february you know what's my cost say i think it's going to take tesla longer to get to 560 i think it's going to get there but it's going to take a little bit longer than just january to go up 120 dollars so i can plug in here we're going to go to uh feb of 21 and we got the same strikes and so up here what you're going to see is that same spread but you're buying an extra month it's going to cost you more uh it's going to cost 47.30 but you have time you're paying for extra time on that spread to achieve your goal but you also see the probability of profit goes up in that scenario so i could set up three different spreads here and look at them visually and you can see the score is up there as well not quite as high as the january but again it's risk reward so with the february you're risking more money and as a result the reward is less because the twelve thousand dollar potential total pay upon expiration is reduced by your cost of 4730 versus the 33.45 so there's a lot you can do with this it's really intuitive it um all sorts of things you can do so going a little deeper here so what you'll see is there are five little buttons uh at the bottom and these are different screens that let you expand upon those strategies you see above that panel so let's go through those um the first one's p l simulator the second one is plain english so you know there's a lot of option jargon terminology that can be confusing what we're looking to do here is really break it down into you know plain english something that's mostly understandable so if you look at this one the one we just created um the uh to the fab oh actually i left a gin long in there and selling a fed actually should have changed that so let's look at the january 440 to 560. this is a bullish strategy with limited risk of 33.45 and limited potential reward of 8655 the strategy will profit if the stock closes above 473 by jan 15 and there's a 34.7 percent chance of probability so pretty straightforward there the next panel is you can plug in you know what what you're looking to you know hey i got five thousand dollars you know whatever you so you can say i want to invest or i want to risk so you can change these values so let's say you know i want to invest 10 000 into this idea it'll calculate it for you and then you know in this scenario 22 shares and then the different types of uh spreads that are shown there so you can put in i want to risk and it goes up to two contracts so you're risking ten thousand dollars the next one is a trading range simulators this again tries to help you to visualize uh what's going on here and so this is interactive you know in this scenario it's thinking it's going to be you know the range between 321 and 561 you can say well you know i don't think that's going to you know i think it's going to be a tighter range and so as you see as i change the values of where i think the stock will trade within a range it changes those numbers the scores on the strategy so it's going to impact my ability to become profitable if i think it's only going to be within this window of price range between now and end of january you can also come here and you know i can say 340 i can plug in specific numbers and then i can also change the expiration date as you can see here and it gives you the number of days until that expiration and then the last panel is where it's interactive where you can change the strategy the expiration the quantity the strikes um so i could come in here and say okay well i i didn't change that one from january to february so let's see how that changes it so you can see i left the long side of that spread as january i had the long side i'm sorry it's february and the short side is january when i change both of those to february the score goes up again so it's highly interactive it's also if you want to learn about different strategies you can come in here and look at all the different strategies and you know you can say like a long put vertical and it'll bring up the setups for those strategies so you can visually see what those strategies are doing so um you know there's a lot going on here i think one one key feature uh that we've worked uh very closely with options play on is that we have built options play into our order management system so you know we've analyzed everything we have going on here with tesla we like this suggestion of the hypothetically buying the jan 15 of 21 440 and selling the 560 call so to do that i don't need to go back to the option chains within the trading platform all i need to do is click trade and what it's going to do is going to bring you up two different order screens so one one really key feature here that that options play provides is a strategy checklist so in order to see that just click on that button and what it says here okay your strategy checklist the trend is good it's bullish the market trend is bullish s p 500 is uh one month trend is bullish you know the the strategy here chosen as an excellent score of 124 there are no earnings between now and then that might have a you know a fundamental change in price and the spread and liquidity is good so meaning there's a lot of people training it it's not a wide bid ask so it checks all the boxes and then you can click preview order and what you'll see is it'll bring up the order ticket and so you'll see you know with here at the option we are regal we show you all the commission rates everything is right there you look at the spread i got the jan monthly 440 to 560 and then click verify this account is not ready to trade this one but just shows you where your commission rates the miscellaneous fees and then bam you send the order so very uh very intuitive and it's something that we've really you know put a lot of time and effort into bringing to you and making sure it's all plugged in and available and like i said as gina said this product if you were to go to options play and subscribe it's 500 a year we don't charge anything um so we're real proud to bring this to you one other item i'd like to show you is if you ever get in here and you're maybe feeling a little bit lost and not understanding what everything you're looking at is just go up here to the guide and click that and what you'll see are these little flags just popped up everywhere so all you need to do is hover over those flags and it's going to give you telling you what that particular selection is so we go up here and it says options play score uh proprietary value indicator evaluating strategy letting you know whether the level of risk you're taking is appropriate for the reward so as you mentioned just a risk reward but you you can uh you know plug that in and get a lot of information there as well um this kind of covers options play for the most part there are a couple of other features before we get to a q a that i would like to review with you you know other features within the e or the you know the regal platform is uh you know this is a great way to generate ideas uh we have other items within our platform if you've had a chance to go and look at the daily outlook it's another widget you have access to this is a great research content that we we update this multiple times a day so you know the early look you're going to get every day you probably get it by email if not you can get it within the trading platform here and it's just telling you what the futures look like this comes out pretty early in the morning tells you what's going on for the day you know what's on the economic calendar for today what earnings are coming out today and then other key events gives you gold uh oil 10 year all that stuff so we have this three times a day we got the early look the mid morning comes around around 11 a.m eastern kind of gives you a you know feel for what's happened since the open and then after the close we give you a closing recap and then what i i personally like to look at every day is the street recommendation so you can come in here and look at what all the big wire houses the investment banks they come out with you know upgrades research comments on a daily basis so you can come in here and this kind of gives you some other trade ideas as well so i if you noticed i had draftkings up on the screen earlier um i was looking at it because i saw it in this particular where was it loop capital came out with a hundred dollar price target on it today right here the gaming sector they initiated these stocks so draftkings is up uh like eight percent today where is it right now um yeah it's up eight percent right now so you get that under the daily outlook and then also um just the street recommendations that comes out early in the morning so this is update within the platform and then on fridays we get a weekly calendar for the following week so last friday we we got this one and it just goes through what the economic calendar is for each day and which companies are reporting earnings before and after the close and then other key events like you know citigroups having a conference so this is all really helpful uh information kind of keeps your finger on the pulse of what's going on in the market one other item i wanted to show you a new a new feature we have within the platform if you like to trade covered calls through the option chain you can now check this box box to add the stock to a trade ticket then all you do is come down here so going back to tesla it's at 440. say i want to do a covered call this little box click it twice to sell and hit trade and what it's going to do is automatically bring up a covered call trade ticket for you so it really cuts through the time and effort of having to generate a cover call position so that's a new feature we just came out with here recently um and i think that that's pretty much covers most of what options play does certainly we can have further webinars to dig deeper into this i think we'll have some where we cover just certain strategies and how to set those up using options play but certainly we've covered a lot here and i think you've got the basics down in terms of how to get in there and really dig in and explore it yourself um i'm seeing some questions here there is one item james show the income use that is true that's one item i did not cover my apologies so going back to the right panel of options play we went over the trade functionality and there's a lot of different things you could do in there with different trade strategies using options but right up here there is the income tab and what this is going to cover are strategies for people who like to generate income and there's two main ways that people do that with options and it is selling a covered call so you're long the stock and you sell a call against it or selling a put cash covered puts sometimes called a naked put and so both of these strategies when you employ them you receive money you're selling the option you're not buying it and therefore you're receiving income at the time of entering the trade so in this particular going back to our uh tesla example at the very top it says do you own tesla hypothetically let's say yes i bought 100 shares and my cost is 300. say my cost is 380 and down here on the income settings you can tailor this to your time frame and your risk tolerance so time frame is okay do you want to sell calls that are one to two months out do you want to sell a call that's say six months or 90 days out or do you want to go longer than that where they have you know they have options on tesla and other stocks that expire in 2022 and probably 23 coming soon so for hypothetical purposes here let's take a look let's say my time frame is medium and my risk tolerance my aggressive optimal or conservative um let's say i'm conservative in this scenario um actually it's giving me it's saying suitable for active investors the short term and conservative seeks to minimize the risk of losing the stock so you know typically if you own the stock for a long time your cost basis is much lower you probably don't want to get called away so you want to sell a call that's farther away from the money essentially so in this scenario let's go with short and conservative we'll save that as a default and so what it is here is optionsplay is suggesting that i sell one contract because i have 100 shares long of the december 11th 530 call that's 85 it would have to go up 85 more than 85 for this to be in the money and i can sell that call for eight dollars it says here is it eight dollars uh let's see what the trade is eight dollars amazing eight dollars in premium for an option that expires less than a month away and almost a hundred dollars out of the money wow so um so you may look at this and say okay great you know that sounds good eight hundred dollars in income and what this particular panel does here is it's gonna say you're gonna receive eight hundred dollars the negative means you're bringing in 800 uh your max reward your maximum risk um and then your annualized return so if you're able to do this at the frequency of this expiration because it doesn't pay a dividend this would be an income stream as a result and then the break even is 372 days to expiration 24. and then if i wa t to do that i just click trade brings up my order ticket you look at my strategy checklist all green looks good then you could enter the order i can also bring up the option grid and then so what it's showing me here is the expirations that fall into those days categories uh you can say well i want to go farther out or maybe in this scenario 530 is too close to the money i could go with the 590. all right 590 i'm 145 away that's the stock's got to go up 33 or more and i would still bring in almost 400 in income or i could say you know i want a little more time uh it might be volatile short term but i think long term it's not going to go above say 600 so i can sell the jan 15 600 call for 13.40 wow that's some premium right there um so there's a lot of different ways that you can generate this information cover calls is one another one you need a little more higher level of option approval but it also what you can do is you can sell a put so if you sell a put and the one you sold goes in the money you're gonna end up buying the stock so in this scenario it's saying hey here's an idea sell one december 11th 360 foot and you would get three dollars 90 cents or 390 if you're to sell that one you say well you know what i'm happy to own tesla 360. when actuality your cost is really more like 356 because you're bringing in the income from selling the put so you're like hey you know what i'd be happy to own this stuff if it falls to 360. in the meantime if it doesn't i'm going to sell this put and bring in this income and so this is a different way you can strategize generating income and selling a put in this situation certainly the risk here is if it goes way below 360 you're essentially going to be buying the stock of 360 and if it say it's at 300 you know you could lose 6 000 in that scenario when you're only bringing in 390. so two ways to play the income side of this uh certainly you know these are generally normal industry normal ways of generating income but as we said there's a lot of different ways you can play it even with selling the put you could say you know what i could go out to feb 19 the 295 foot love to buy a tesla you know hypothetically love to buy tesla at 295 and that foot is trading at 9.25 so you could bring in 925 sell this foot that expires in february and if it stays above 295 by third friday in february you keep 925 dollars move on to the next one if it goes down below that you're going to be buying it essentially 295 minus the income you receive from selling the foot so it's amazing looking at tesla the the premium in the stock and these options is is just huge but you know tesla's an expensive stock and if you want to play tesla these are ways that you can do it without risking forty four thousand dollars for a hundred shares which is a lot of money um but certainly less than it was before the split anyway um okay well i hope i covered that i i did want to um go over a couple things and then i'll open it up for questions um so again uh here at regal parent company um you know maximize your trading potential we can trade unlimited stocks in etf for zero commission our commission for options is 1.99 plus 10 cents a contract options play a 500 value is free to all account holders a powerful trading platform for easily entering your own option in stock trades fully customizable streaming real-time quotes chart news research content you know no hidden fees or volume requirements or minimums we have a great mobile app if you guys haven't used that please download the app i use it all the time i just get quotes in the morning or whenever you can place trades you can play spreads you can do lots of great stuff on the app it's all streaming there as well so i do want to thank everyone and please if you have questions now's the time go ahead and send them to me i'll take a look here i've got a few of them to do so one question is is this tool available in the application so yes this tool so we have a paper training environment this tool is not available in the paper trading live trading you have an account with us you get this product it's in our desktop platform only there's too much going on here for us to plug it into our mobile app so yes everybody gets it and it's in the widgets if you don't see it at the top it's on your drop down in the widgets and you can create a screen tailored just to options play unfortunately i can't show the app right now i don't have the software to bring that up i it does exist and i've used it before i just don't have it at my fingertips right now but we'd be happy to show you that it's also on on the website the e-option website or the invest trade website or regal securities uh does income have credit spreads no the income you would have to go to under the uh trading strategy credit spreads you would just go into here where we got the last little bubble bullet there and you can just go under here and look at all the strategies and just um i think they would call that like a short vertical um yeah so you just go into for a credit spread go in there and plug in short call vertical and you'll see it pulled one up right here and this one um you'd be buying the 445 and selling the 440 on the call side so you can play with this i can change this to puts um i can change the strikes and you can also have these arrows next to the strike if i just want to go up one or two then you can change the quantities you can change the expiration date you can change the actions but to answer your question you would find that under the trade strategy um under the edit legs um scenario there so not on income's only going to focus on selling cover calls or selling a cash covered or naked put um well let's see what else we got so one question is what if the stock is flat or consolidating and you're neutral you know it doesn't really give you an option of neutral on a particular stock but you can there's ways to use this tool on on neutral strategies um you could do well i'm sorry there is a neutral selection under the strategy so you can just plug in any stock that you are familiar with or are interested in and then come to this trade scenario screen and look at the neutral strategies so you can plug those in you can say a you know a short iron condor and it will bring that up for you so that would be a way to handle the there it is just popped up so you're seeing here is this would be neutral where you're thinking it's going to stay within a certain trade range you can create two credit spreads one real high way out of the money and one real low so that would be a way you can do that uh and then moving on well here dale has a good question he says which concept is better when using options play try to get a higher score or look for possibly a lower score but a higher percent of probability of profit uh concern is getting a high score sounds great but in reality i like to go for the higher profit yeah that makes sense and you know what i think this tool has a lot of data for you and it's really your personal preference i i can't really tell you one way is better or another certainly the score is going to look at risk reward so you know it's up to you how you like to trade this stuff or how what your personal preference is you can tailor it to meet your your you know kind of what you're looking for but i don't really want to give you one way or the other but just so you know that that score is risk reward so a lot of times the spread is going to be the highest score because you're risking the lowest amount of money and your potential you know when you're risking lower you know if you're making it's you know to make a bigger percentage if the stock does meet the objective you're looking for um is there one last question here i know we're about out of time i really appreciate your time is there any way to change the probability of profit and have the swf find the options that might meet that criteria um let's take a look here uh let's go back to this screen i don't think there's a way to change the probability of profit i think you need to change the strategy to come up with different scenarios and to generate those probabilities but that is one field that you can't uh change on this system so all right well you know what this went by really quick and i hope we gave you a good understanding of how this works and ways that you can use this to kind of cut through a lot of the overwhelming data and options and we'll be happy to do this more than once and i'm happy to answer any of your questions individually i'll give you my email it's sharon at regalsecurities.com it's s-h-e-r-r-i-n feel free to reach out to me i'm here all the time and uh thank you really appreciate your time and i hope you have a good day yeah thank you sean um that was very interesting and informative and we hope it gave all the attendees good insight on options play and how you can start using it right away and just to reiterate it is free for all of our customers and as sean mentioned it's normally 500 annually but there's no charge for our customers and it's very easy to find after you log in to your account you'll just look for that options play tab on the menu item and you'll see it there and you can just start using it and we also do have more instructional videos on our website as well as on youtube so you'll see if you want to get more in depth you can look at it there and you'll also see some guides as well and again you can take advantage of our ultra low rates we do charge a zero for stock and etf trades and options are just 10 cents a contract plus 1.99 per trade and as someone asked if there's a minimum there is no minimum to open an account and there's no volume requirements or hidden fees or anything like that what you see is what you get and all attendees will be getting a recording of this webinar so you can review it again as at your leisure it will be emailed to you this week and again it'll be posted on our website and on youtube and you can also reach out to our trade desk at any time everyone's trained in options they're all option trading specialists or you can reach out to sean directly and they'll be happy to answer all of your questions on options play or using our trading platform for options or any other questions that you have it's easy to get through to them and they're very helpful with all of your questions and make sure to like us on facebook and you'll get advanced notice of our webinars investment tips and daily market news so we have a lot of good ideas on facebook so we hope you'll connect with us there and one last item we do have another webinar coming up that will be on december 1st at 1 pm central time and that's volatility analysis for option investors presented by a professional trader from the option industry council so mark your calendars for december 1st at 1 pm central time and we'll also be sending out a reminder on this as well in the upcoming weeks and again we as sean mentioned we do plan to have more option play webinars um in the future and so we hope to see you then so again thank you for your time we greatly appreciate it we understand that you're very busy and we look forward to having you participate in another webinar thank you and be safe bye