Option Combinations

LYNX does not only offer you to trade options on stocks, indices and futures but also allows you to create option strategies consisting of multiple legs. Option combinations enable you to achieve specific risk profiles and profit potentials. Let us show you how to trade these through LYNX.

Please note

Option combinations always consist of more than one option contract, also called a leg. Although you could also trade a combination leg-for-leg, this pages only covers such strategies that have been created as combinations initially.


Search your desired product

First, log into LYNX+. Then select either an underlying asset from your Portfolio or Watchlist to then open the overview page.

From there, toggle to the Options tab to find a list view of available contracts. The list is dividend into Call options and Put options.

Choose a combination

If you want create a combination of options, select Create Option Combo to then add legs to your desired strategy.

Make your initial choice and a new section opens with your select option contract. This includes your legs and a performance profile which indicates the possible profit and loss.

To then add more legs to your strategy, simply click the symbol +Add. You can as well change the action (either buy or sell) from the drop-down menu. To change the ratio of the legs, select or type the desired amount.

Create the order

Feel free to then click Create Order to open the Order Ticket. Therein you can destine quantity, order type as well as a time in force. In addition, you might want to add a stop loss and / or a profit taker to your trade.

You can then review the summary and send the order to the exchange.


Search your desired product

Select your desired underlying by typing it into an empty row. You can either go by name, ticker or ISIN.

From the pop-up menu, select Combinations and then Option Combos.

Now, you can select between SMART routing to have your order transmitted to all exchanges. If you’d like to select a particular exchange, go to Option Combos (Directed).

Choose a combination

This prompts a new window for the combo selection. From here, you can tab between predefined strategies, select from multiple combos or create a pair or Leg-by-leg strategy.

For illustration purposes, we will select a strategy from the Strategy tab: Click into the selector to choose your desired strategy.

The menu below allows you to select the action, ratio, last trading day, strike and right of each leg. In addition you can flip the whole combo by clicking the Buy Combo option. From there, choose Sell Combo to rotate all legs.

When you’ve created the combo, please take note of the lower options: You can request to display market data for each legs when added to your watchlist. Also, you can choose to have the combo displayed in a 1:1 ratio.

Click Add so the combo appears in your watchlist and click Ok to close the strategy selection completely.

Create the order

You can now create an order for the strategy and then submit it to the exchange.

LYNX Trading App

Search your desired product

Select your desired underlying by searching with product search. Else, simply tap it from your Portfolio or Watchlist.

Choose the Options tab to open a list view of calls and puts. Switch between the offered expiry dates to find your desired contract.

Choose a combination

To create a strategy with multiple legs, switch on Strategy Builder at the bottom. This enables you to add legs by tapping bid/ask in the option chain.

You can alter the direction (Buy or Sell) and also change the ratio of the legs by tapping the arrows next to them. To de-select a leg, tap the x-icon on the right. If you’d like to add a stock leg to the combination tap Add Stock Leg.

If you want to, you can add the strategy to a Watchlist. Else, tap Order to create an order ticket. Herein, you can set the quantity, choose an order type and and attach orders, if desired. Then tab Preview to see the impact on your account.

Create the order

Finally, you can submit the order to the exchange.


Feel free to create option combos for stocks, indices and futures. Please be aware that you cannot create cross-asset-strategies with options though. Trading is supported with strategies consisting up to 6 legs.

Yes, as a strategy consists of at least 2 option legs, you can close or roll only a single leg or multiple parts of a strategy. This will then lead to the combo being displayed in different legs only.

If you want to group options after trading them individually, this is possible to do with LYNX+:

From the Portfolio, tick the box next to the buy button to select an option to group for a strategy by clicking Create Option Combination.

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