This feature is available to preview in the UAT environment. It will be available in the production environment in the near future.
The TT OBV (Order by Volatility) lets you enter an order for an options contract by entering a desired volatility. The TT OBV places the order at the price level that corresponds to the desired volatility. As moves in the underlying contract impact the volatility at each price level, the TT OBV will continuously reprice the order to maintain the desired volatility.
For example, suppose you want to buy a put options contract, such as LO Dec17 C5150, at 23.6 vol. You would specify the following paramter value:
The following parameter is required:
For more information about using TT OBV orders, see Entering a TT OBV order.