Closing an options position on Volatility.com.au is a straightforward process that allows you to manage your portfolio effectively. Follow the steps below to close an options position:
Steps to Close an Options Position:
Select Portfolio: Navigate to the top ribbon and select "Portfolio."
Choose Stock: Within your portfolio, select the specific stock for which you want to close an options position. For example, S32.
Click 'x' in Circle: Identify the options position you wish to close and click the 'x' in the circle to the left of each line. This action will trigger a 'what-if scenario.' and turn the 'x's into green ticks.
Review Trade Summary: The 'what-if scenario' will display a trade summary, indicating the impact on premium, margin, Stress Test Exposure Limit (STEL), and buying power. For more detailed information, click on "View" in the Strategy Builder located at the top right of the what-if screen.
Hit Execute: If you are satisfied with the trade summary, click "Execute" at the top right of the what-if scenario.
Enter Price and Execute: Enter the desired price for the options position and proceed to execute the trade. Note: For an updated quote from market makers, click "RFQ" (Request for Quote) located in the bottom left of the order screen.
Important Considerations:
Utilize the 'what-if scenario' to assess the impact on various aspects of your portfolio before finalizing the trade.
Ensure you review the trade summary thoroughly, especially the changes in premium, margin, STEL, and buying power.
For accurate and updated market quotes, use the RFQ feature to request quotes from market makers before finalizing the trade.
Need Assistance?
If you encounter any issues while closing an options position or have questions about the process, our support team is here to assist you. Reach out through the "Contact Support" option on the platform or visit Volatility.com.au/support/contact.