Obsidian boasts one of the most robust and feature rich option interfaces available.

Speed and simplicity define the module. A standard tree format seperates expiration months and option classes. Leaps, Binary options, spin-offs, take-overs, stock-splits, etc. can play havoc with an option chain. Obsidian defines each class based on expiration and settlement. With simple quick reference with time to expriation, style, and settlement – you will KNOW quickly which contract type you are trading.

The option chain includes the standard features expected, including bid, ask, volume, and greeks. Additional customizable columns include intrinsic/extrinsic values, reversal/conversion values, cost to carry, and more.

A simple and clear row across the top of the option chain displays your NET Position with detailed and quick information, including call/put count, Net Deltas, Greeks, Gamma, Vega, Theta, and P&L.

Launching order tickets has never been easier and Obsidian includes a choice of standard order ticket, Depth Ticket (with regional quotes), or our Book Trader order entry system.

The Option Chain module additionally allows for "what if" scenarios – move time forward, change underlying, interest rates, dividends, and more – how will it impact your position, theoretical, and Greeks.

Obsidian puts complexity in the back-end to give the user a simple and speedy interface.

The Quote Board is where you view the market. It needs to be clean, easy to read, simple, and have the ability to alert you to sudden changes. Obsidian’s Quote Board allows the user to effictively track stocks, options, indicies and futures – with the ability to launch order tickets and set alerts.

Creating your own template with customizable columns and simple "drag drop" techonology means customization is just a mouse click away. You are able to save your own templates, add alerts, and specialized filters.

All order tickets are quickly launched from a single click on the Quote Board. Decide between a standard ticket, Depth Ticket (with Level II), or Book Trader ticket.

Time and Sales is only a mouse click away.

Are you filled? Was that order canceled? What exchange was that order sent to? A trader doesn’t have time to find an order or wonder about the status. Obsidian’s Order Book was designed with simplicity and speed in mind.

The Order Book is divided into two sections, working orders (on top) and filled/canceled orders (on the bottom). As with all our modules the sort and quick filter features allow you to set any column to descending or ascending with one click. A quick filter can quickly find a single symbol, buy or sell, or any data search – all with one click of the button.

Customizing the order book is simply done by "drag and drop"” from the column chooser – even adjust columns or rearrange them. Color coding is simple – Green = Buy, Red = Sell, Grey = Canceled or Rejected.

Obsidian’s Order Book takes it further than our competitors with an audit trail of any order by simple click of the mouse. Get all message traffic information from the trade and the exchange – this makes trouble shooting order or finding out exchange status simple.

What about other platforms? Obsidian supports drop copy information from other platforms. If you are trading on Think-or-Swim, Sterling, or other platforms - all those trades are viewable in the Obsidian Order Book.

Obsidian offers the standard Order Ticket. The traditional simple and clean design allows for miminal desktop real-estate for trading stock, options, futures, and ETFs. Control routes, order type, buy/sell, account, and more from one simple to use order ticket.

Obsidian offers a Depth Ticket for more detailed information about order flow. From option’s regional exchanges to stock market makers and ECNs, Obsidian’s Depth Ticket displays the detailed information.

The Depth Ticket display is "hot" - simply clicking on an exchange, bid, or ask price will load that information into the order ticket. The perfect tool for quick firing multiple orders, also capable of viewing Regionals/Level 2 quotes, this order method can trade stocks, options, or futures. Comes with a flexible interface that allows you choose your side by quickly clicking on just a single button.

Additional drop down features include: Mult (for quickly chaning contract size) Px. Incr. (for quickly changing price increments up or down).

Trade Options, Stocks, ETFs, and Futures from the Depth Ticket.

Ladder Style order tickets have become very popular in the Futures trading arena, but why not for Options or Stocks? Obsidian has its own version of this type of execution ticket called Book Trader.

Book Trader is the next generation of order execution. Ladder style tickets were first introduced to the futures market – simple in design and capability. We desided to expand on this idea and take it into the stock and options markets and bring new features into the system as well.

Using the mouse (via clicks and "drag-drop") – you can place, change, and cancel orders. You don’t even need to touch the keyboard. Simplicity and speed are the focus of the Book Trader.

The top row of the Book Trader shows the current position and P&L.

Additional drop-down features include:

Mult. (quickly change volume/contract size with a click of a button)

Hot Keys (Buy @ mkt, Sell @ mkt, Flatten Pos., Reverse Pos. – allows the trader one click control of the execution and position.)

A tick by tick representation of the Market giving you real-time information as new trades and quotes are sent across the market. Using Obsidian’s quick filtering system you can view certain exchanges, contracts/volume sizes, certain prices, etc.

Time & Sales screens can be quick launched from several different modules within Obsidian

Obsidian offers a unique proprietary tool, Spread Maker. By allowing traders to work multiple orders in the Stock, Options, and Futures markets on multiple exchanges – the possibilities are endless.

The demand for complex order handling on multi-leg option orders use to be only handled by floor brokers. While exchanges have been able to slowly adopt native spreads (exchange specific) there is still limitation (types of spreads, single exchange, not always best price). Spread Maker utilizes all exchanges and lets the trader decide the strikes and ratios.

This allows for customizable spreads, different months, classes, even underlying securities. Create butterflies, calendars, condors, etc. But what about buying calls in one stock and selling them in another? Spread Maker can do that also.

The additional advantage is that the trader is NEVER showing their hand, unlike native spreads where everyone knows what you are trying to do.

We just didn’t stop with options, we included stocks as well. Trading cash neutral, take-overs, spin-offs, and pairs between two different stocks has never been more simple.

The interface is simple, just "drag and drop" the option strike or stock symbol, enter the ratio, the contract size, net debit or credit and click activate. The system will do the rest.

Spread Maker is unique to Obsidian.

If you are trading options or off-setting stock positions, there has never been a simpler and more robust tool.

This simple, yet complex order handling module alone separates Obsidian from the rest of the field.

Trading options means that you could end up with long or short stock positions on expiration. Monday morning can be frustrating coming in long or short stock and having the market dictate your profit or loss. Hedging positions on expiration Friday is easy, if you trade only one stock, but what if you trade 5, 10, or even 50 stocks. Handling expiration delta risk can be a daunting task.

Obsidian offers another unique module, Exp-Delta. This system will auto-hedge your expiration delta risk on Friday. No longer worry yourself about long/short stock positions on Monday morning.

Exp-Delta will determine your post expiration deltas, allows you to set for Pin-Risk slippage, and with one click of the bottom you can fire off limit or "Market On Close" orders to flatten your delta risk.

For those with large option portfolios Exp-Delta module is a,time, money, and risk manager – all in one. More importantly – a life saver!

Traditional portfolios break down accounts by symbols, options and stocks for the same underlying asset are not grouped together. Most systems offer little, if any, customization to view your portfolio.

Obsidian’s Portfolio allows for full customization with a simple click of the mouse. Group by accounts, symbols, expirations, account & underlying, etc. The possibilities are endless. Additionally – what information do YOU feel is important to monitor? Instead of us determining what you SHOULD be reviewing in your portfolio – we allow the trader to design his layout with a simple click and "drag-drop" you can design your own layout.

Realized P&L or Mark-to-Market P&L? What about Trade P&L vs. Net P&L? Is the ability to sort by expiration important? What about post expiration deltas? And you want all that in real-time! No problem!

Obsidian’s Portfolio module means full and simple customization to meet any retail or professional trader’s needs. Using traditional expanding trees – you can view over all portfolio information or drill down into detailed information per each individual position.

Additionally – being able to close down positions, launch trading tickets, or analyzing any position is just one mouse click away.

Simple, Clean, Easy, and Powerful define Obsidian’s Portfolio Module.

The most powerful Portfolio module you’ll ever use!

Visual representation of risk vs. reward is a very powerful tool. When strategies become more complex by adding options to the equation, being able to view the position can bring clarity.

Obsidian’s Position Analyzer provides a powerful graphical interface to view not only Profit & Loss, but also Greeks (Delta, Gamma, Vega, Theta, Rho).

Position Analyzer also displays current P&L as well as expiration P&L. Position Analzyer can also be an effective risk management tool. "What If" scenarios with stock movement, volatility changes, time, and interest rate changes are a real variable in these market conditions. Being able to view changes to market conditions and how they impact the position is a very important tool.

Obsidian’s Position Analyzer additionally allows for viewing specific expiration cycles, click on/off particular positions, add positions, and change price. Seeing how a position will perform by adding a trade before execution can help manage risk and increase profits.

Additionally we can pull in historical trades, what did your position look like last month? A click of the button and you can pull in trades from any symbol or account you had access to and load them into Position Analyzer.

Obsidian’s Position Analyzer is quickly launched from the Portfolio or Risk Radar module.

Managing risk in real-time has become paramount in these volatile market conditions. Traditional risk assumptions or complex theoretical models will never take the place of measuring real market impact risk.

Risk Radar is the most robust real-time portfolio risk system available to the individual trader in the market today.

Measuring market movement is not enough, we need to be able to test volatility and market shocks to the portfolio in real-time to help make risk management decisions on the fly. Traders no longer have time to wait – they need to know NOW!

Keeping the Obsidian motto of clean, simple, robust modules in mind, the Risk Radar starts with a high-level view of the account. Measuring market move (by %) impacts to the position (both up and down). These percentage moves are set in steps and can be adjusted down to .1% steps.

But market movement alone is not enough to measure risk, shocking the system with Volatility, Time, Interest Rates, and Extreme Conditions is a valuable necessity and the need to do it in real-time is imperative.

From a high-level account view, a simple click on the account number zooms into the portfolio for a detailed look at each position based on symbol. Right-clicking on any symbol allows one to pull up the Position Analzyer for a graphical representation of the risk profile.

Obsidian’s Risk Radar module puts risk management in the hands of the trader. No trader should be without it, EVER!

Build customizable alerts whether you are watching a quote or postition. Obsidian will let you know if something happens that concerns you with an audible and visual warning. Alerts can be set to different conditions and ranges. A simple click and alerts are reset. The alerts module can be opened from several modules, including the quote board and portfolio modules.

The ability to price individual options is a valuable tool, whether you are doing research or planning on quoting a FLEX Option. Obsidian’s Option Calculator uses either the Black-Scholes & Bjerksund-Stensland models. You can also specify your exercise style, Volatilities, Risk Free Rate, Yield, and expiration. Detailed information includes; theoretical values, Deltas, Vega, Gamma, Rho, and Theta.

Obsidian gives traders access to detailed historical trade information. This information can be easily ported to Excel and saved. Look up an individual day, weeks, or even months of trading history. The information contains detailed information to also track out-trades or order issues and is a valuable tool used for trade confirmation.