optionsXpress, a retail online brokerage specializing in options and futures, has unveiled IDEAS, a new feature that allows investors to scan their existing positions to find new trading opportunities. The company has claimed that the IDEAS is designed to help investors uncover potential ways to modify their trading positions based on their current market perspective.
Reportedly, IDEAS leverages results directly from four optionsXpress tools such as, StrategyScan that identifies strategies that align with the user’s investing goals, experience and risk level, Chart Patterns that seeks out stocks that match an investor’s specific interests and spending limits, Trading Patterns that shows what other like-minded investors are trading and Trade & Probability Calculator that displays the projected risk, reward and financial feasibility of potential trading strategies.
The other upgrades to the optionsXpress trading myOX portal include, a new streaming FleXChart application, a new market watch module for overview of the day’s markets, customization features for the watch list and positions modules. In addition, the tools for futures have been upgraded to include futures and futures options. Both the Trade & Probability Calculator and the Pricer now allow futures traders to analyze their current and potential positions and strategies.
David Fisher, CEO, said: Providing the ability to quickly adjust to changing market conditions by using a variety of different investment products is what we do best at optionsXpress. The introduction of IDEAS underscores that effort by delivering a diverse array of different stock, options and futures alternatives for customers to consider.
