Adjusting Options Order Quantity (Ratio Spreads)

Whether you want to do more than one iron condor or set up a ratio spread, adjusting trade quantity is easy. There are three methods to changing the quantity of an options trade.

The current options ratio limit is 1:8. Any order sent that exceeds a 1:8 ratio will be rejected. 

Changing the lot quantity (e.g., more than one iron condor):

1. Set up the order within your ticket.
2. Mouse over to the “>” arrow beneath Quantity. Click to increase the quantity by one. To decrease quantity, click the “<” arrow.
3. After desired quantity is entered, review the order before clicking “Review & Send.”

Adjusting a single leg within an options trade (e.g., ratio spread) - Three Methods:

Double Clicking the Leg in the Order Ticket (Method 1):

1. Set up the order within your ticket.
2. Double-click the leg you want to edit within the order entry window until it is highlighted.
3. To de-select the leg, simply double-click the leg again.
4. Mouse over to the “>” arrow beneath Quantity to increase your quantity. Click to increase the quantity by one.
5. After desired quantity is entered, review the order before clicking “Review & Send.”

Selecting the Leg in Table Made (Method 2):

1. Set up the order within your ticket.
2. Single-click the leg you want to edit within the table until it is highlighted. You will see the quantity value change in the order entry window with each click.
3. Mouse over to the “>” arrow beneath Quantity to increase your quantity. Click to increase the quantity by one.
4. To deselect the leg, just click the leg.
5. After desired quantity is entered, review the order before clicking “Review & Send.”

Selecting the ratio spread strategy in the strategy selection tool (Method 3):

Click the drop-down arrow at the top of the Strategy Menu, and select the appropriate type of Ratio Spread (Short/Long, Call/Put) and click GO to populate the trade.

Screenshot of the Strategy Menu highlighting the new Ratio Spread strategy.