Strategy Based Beginners Guide

LAST UPDATED MAY 09, 2025

With OptionX, trading multileg strategies like Iron Condor, Strangle, Butterfly, and Calendar Spreads becomes effortless. Our advanced Spread Ladder and Strategy Builder tools let you create, analyze, and execute sophisticated option strategies in just one click—directly from the price ladder. Say goodbye to manual leg-by-leg execution and hello to reduced slippage and faster decisions.

Successful options trading isn’t just about picking the right strike — it’s about executing the right strategy at the right time.

Why Use the Spread Ladder?

Live Market Execution: Place and manage multi-leg orders in real-time with transparency.

Custom Control: Choose execution style — series or parallel.

On-the-Fly Editing: Modify strategies instantly from within the ladder.

Professional Interface: Designed for fast-paced, high-efficiency options trading.

1. Access the Spread Ladder

Step 1: Go to the Widget panel.

widget button.png

Step 2: Select Spread Ladder from the list.

Spread Ladder Widget.png

Step 3: Pick a saved strategy (e.g., Iron Condor)

Spread Ladder select strategy.png

Step 4: Spread Ladder will launch with all legs pre-loaded.

Spread Ladder opened.png

2. Entry Panel Overview

You’ll now see the Order Details for the selected strategy:

Instrument Ratio Qty P&L LTP
NIFTY 08 MAY 2025 24100 PE -1 75 -18.75 58.15
NIFTY 08 MAY 2025 24300 PE 1 75 26.26 80.35
NIFTY 08 MAY 2025 24700 CE 1 75 195.00 130.30
NIFTY 08 MAY 2025 24900 CE -1 75 6.25 50.10

Total Cost

  • P&L (Profit and Loss): ₹-101.25
  • LTP (Last Traded Price): ₹102.40

This gives you a quick P&L preview and cost analysis.

Spread Ladder legs.png

3. Place Orders

Step 1: Select Order Type

Choose from Single, Limit, or Execution Style:

  • Series: Executes orders one after another.
  • Parallel: Attempts all orders simultaneously.

Step 2: Click on the Bid column to place a Buy Order. The system will place all legs of the strategy (Iron Condor in this case).

Spread Ladder order placement.png

Step 3: Once all legs are filled, your entire order is completed.

Spread Ladder order placed.png

This allows precise control, especially when market liquidity is limited.

4. Edit Strategy

Need to tweak your setup?

Step 1: Click the Pencil icon next to the strategy name (Iron Condor). This will open the Strategy Builder.

Spread Ladder legs.png

Step 2: Modify any leg, expiry, ratio, or strikes as needed and Click Update.

Spread Ladder edit legs with builder.png

Step 3: If you have an Open order the a pop-up will appear: “You have open orders. Would you like to cancel the current ladder and update it, or open a new ladder?” Choose accordingly to either:

  • Cancel and replace the current ladder.
  • Or, create a fresh instance with the new configuration.
Spread Ladder update stratgy legs.png

💡 Pro Tips

  • Use series execution for better fill control in illiquid markets.
  • Use parallel execution if you're confident with market spreads and want speed.
  • Edit strategies frequently as market conditions shift — the Spread Ladder makes this seamless.