My name is Tracy, and I am tackling some of the most popular questions that we see at the support desk! This week I am here on the tastytrade blog to answer some questions on your favorite follow trader, Bob, aka Sos Grande, aka Tom, the list goes on, but you get it!
Bob the Trader is a monthly, weekly or annual subscription that allows you to follow Tom’s trades 24/5! And if you aren’t already a Bob subscriber, what are you waiting for? Not only does Bob the Trader show you Tom’s trades, but you’ll also receive our research report emails from our hunks over on the research team! Which leads me to my next topic...
Where is my Research Report email?
Are you checking your inbox every morning, looking high and low for the research reports? You may just need to opt in to be added to our mailing list. You can do this when you sign into your tastytrade account on tastytrade.com and visit your My Stuff page, by clicking on "Your Account" and going to "Settings".
If you haven’t registered to be on our email list, here is a glimpse into what you will get: It will be two separate emails, and you can opt in to each individually on your My Stuff page, as mentioned above.
The first email is the earnings report, which is compiled from a list of notable stocks (high open interest, tradable, etc.), that all have earnings coming up. The report will tell you the underlying’s IV, IV Rank, expected report date, and if the earnings will be announced before or after market close. The newest feature, the liquidity indicator, will show you the underlying's level of liquidity based on open interest, bid/ask spread, and the number of strikes in the option chain. Here's what you'll see in your inbox!
The second is an email comprised of high IV stocks with no future earnings, meaning stocks that have IV over 15%, IV Rank over 50%, and no earnings within 45 days. The email will also have a graph that will help you find where the best opportunities are based on IV and IV Rank. Now just like the Earnings Reports, you can see the underlying's liquidity indicator and the new Volatility Bolt. The Volatility Bolt will give a smoothed 10-day representation of the option's implied volatility. Check out this sneak peek!
What is 100% closed? 50% closed? Speaking in Bob terms...
A lot of new Bob the Trader subscribers when they first log on, ask what the heck are all of these terms I am seeing?! Here is breakdown of the lingo used within the app:
- CR- This denotes that the trade was done for a credit, and it will show the amount received.
- DB- Similar to CR, this denotes the trade was done for a debit, and it will show the amount paid.
- Closed or 100% Closed- That just means Tom has closed the position.
- 50% Closed- Just like closed or 100% closed, this means Tom has closed 50% or half of the position. For example, he had 10 contracts opened and closed 5 or closed one side of an iron condor.
- Open- The trade is a new opening position.
- Bot- Indicates Tom bought the strike.
- Sold- Tom sold the strike.
- Hedge- A position that is put on to offset a current position in the portfolio. An example of this would be buying a vertical spread to protect a strangle or selling calls to hedge long stock.
- Scalp- Taking very small profits off of intraday trades. These typically last for just a day.
- Small Order- This refers to the contract size of the order.
Hopefully you’ve got the terms down now!
Finally, what is Bob’s P/L?
Unfortunately, for compliance reasons, Bob the Trader is not tracked on a P/L basis. Although we can’t give you a complete P/L for Bob, check out 2014 year-end stats! We’re walking the walk and talking the talk!
Thanks for reading, and as always, if you have any other questions, Bob related or not, please reach out to myself or my colleagues in support at firstname.lastname@example.org! Our article database is also a great resource for more information, so check it out! While you're at it, download some of our other apps, like Where's Bob?
Have more questions for me or my colleagues on support? Email us at email@example.com!