How to Roll Options on ThinkorSwim | Step-by-Step Tutorial

In the video today we’ll be going through all the steps needed to roll options in the ThinkorSwim platform. Throughout this video we’ll go through creating a rolling order step-by-step on the ThinkorSwim platform. The process is relatively simple, but there are several things you’ll need to consider when making the roll. We’ll also go through creating a rolling order on both single leg options and spreads. Rolling a single leg or a spread is a nearly identical process, however there are few considerations you’ll have to take before making the roll. Keep in mind, the maximum number of legs you are able to roll is 4. Meaning you not be able to roll iron condors, jade lizards, etc.. If you intent to roll a spread with more than four legs, you will need to break up the order. After creating the roll, you’ll need to then select the expiration and strike you intend to roll to. Generally, when rolling out a short option, you would only consider doing the roll for a credit. When paying for the roll (doing it for a debit) this means you are increasing your max risk and reducing your max profit. Generally, doesn’t make much sense to do this unless you’ r moving the probabilities in your favor significantly.