TRADING TOOLS: EXTEND, CLOSE & DOUBLE
The Trading Tools Extend, Close and Double are only available for Up/Down Options. These Tools become available for the trader 5 minutes after execution of the trade till 5 minutes before the expiration time. In this time frame appears the Show button in the column Tools in your OPEN TRADES.
In the example above you can see your Up/Down trade with the Show button. When clicking on Show a window will pop up, which gives you the possibilities to EXTEND, CLOSE or DOUBLE the trade. To close this pop up window you have to press Cancel.
With this option the trader can EXTEND his current trade for a certain period of time, which he can select in the Drop-Down menu. To execute an extension a certain amount will be charged, this is indicated at Cost.
The example below shows that when pressed on Execute, the option will be extended from the original time of 11:30 till the new extended time of 11:45 at a Cost of € 1.53.
With this option the trader can CLOSE an option before the original expiration time, and receive a certain amount on their trading balance. This amount is indicated at Return, and is the total amount that the trader will receive at that moment for closing the trade.
In the example below, the trader will receive € 13.41 when the trade will be closed before the original expiration time of 11:30.
With this option the trader can DOUBLE the trade. What happens is that a new trade will be opened, with the Current Strike rate, but with the same invested amount and the same expiration date as the initial trade.
In the example below, a new Call Options trade will be opened with the Strike Rate 1.08150 and the same expiration time of 11:30 when the trader presses Execute.