Strategist provides the flexibility that a trader needs to ensure the most complete risk analysis. Implied volatility can be changed for an individual trade, term, group, a trade type (Object type), any trade(s) that have been highlighted, or for the entire account. The Override Implied Volatility application is opened using the IV icon or the Edit pull-down menu and selecting Implied volatility.

There are three fields that permit manual entry: Last, Bid, and Ask. Check the field boxes that will have the override and enter the value to be used. The Last, Bid and Ask Implied volatilities will be used for the calcuations of the option premium values with any change to the underlying market price.

When selecting the override using either the skew volatility or volatility table no manual entry is permitted and the highlighted trades will interface with the IV tables. These overrides can be marked to become permanent changes. A permanent change will keep the volatility even after a recalculation, price refresh or when the account is closed.