The quote for a custom spread is defined by quote symbol, +/-, multiplier, bid, ask, last and mark. In addition to the stymbol, the user will need to decide which legs will be buy sides and which will be sell sides (+/-). The multiplier selection box allows the user to manipulate the quantity of all sides of the spread. The next four columns allow the user to manipulate how the spread is evaluated. For example, when viewing the bid of the spread the user could use the bid, ask, last or the mark for the first leg of the spread and the second side of the spread to calculate the bid price. For example, the bid price of AAPL minus the bid of IBM will equal the ask price. If the user prefers to use the last price for one leg and the mark for the second leg, the bid would be calculated by taking the difference between the first leg’s last print and second leg’s mark. The same theory applies for the ask price, the last price and the mark price. |