• IBKR Home
  • Why IB
  • FREE TRIAL
IBKR Campus

Financial Education

Log In
 
Open Account
Open Navigation
  • Courses
  • News
  • Quant
  • Webinars
  • Podcasts
  • API
  • Asset Classes
  • Educators
  • Glossary
  • More Campus
Traders' Academy

Finance Courses and Lessons

All Finance Courses Beginner Courses Intermediate Courses Advanced Courses

Topics

Stocks Options Futures Bonds Other Trading Products IBKR Student Trading Lab Economics Fundamentals Intro to IBKR Tools Advanced IBKR Tools Institutions Taxes API

Language

Chinese (Simplified) French (Canadian) German Hungarian Italian Portuguese (Brazilian) Spanish (LatAm)

Featured Lessons

Sector Investing

Sector Investing

Read More

Introduction to Momentum Investing

Introduction to Momentum Investing

Read More
Traders' Insight

Financial News and Market Commentary

Traders' Insight Home IBKR Economic Landscape IBKR Commentary

Topics

Stocks Options Futures Forex Fixed Income ETFs Commodities ESG Securities Lending Retirement Personal Finance Technical Analysis Macro

Featured Articles

Cybertruck Tries to Pull the Whole Market Higher

Stocks

Cybertruck Tries to Pull the Whole Market Higher

Read More

What the Options Market is Expecting for Tesla Earnings

Options

What the Options Market is Expecting for Tesla Earnings

Read More
IBKR Quant

Quantitative Code and News

IBKR Quant Home Data Science IBKR API Quant Development Conferences

Languages

C# Development C++ Development Java Development Julia Development Python Development R Development REST Development TWS Excel API

Quant Articles

Artificial Intelligence, Firm Growth, and Product Innovation

Data Science

Artificial Intelligence, Firm Growth, and Product Innovation

Read More

Automate Trading Strategies with the Powerful IB API

Data Science - Python Development

Automate Trading Strategies with the Powerful IB API

Read More
IBKR Webinars

Webinars from Financial Professionals

Upcoming Webinars Webinars Aired Webinar Contributors

Webinar Topics

AI & Machine Learning Alternative Investments Cryptocurrency Energy Sector ESG ETFs Financial Spotlight Fixed Income Forex Futures International Options Taxes Technical Analysis Technology Trading Women in Finance

Latest Webinars

Natural Gas Futures: Seeking Shelter from Weather-induced Price Volatility

Oct / 29 / 2024 - 10:00 am - EDT

Natural Gas Futures: Seeking Shelter from Weather-induced Price Volatility

WisdomTree Europe
Details / Register

Option Strangles

Nov / 04 / 2024 - 2:00 pm - EST

Option Strangles

The Options Industry Council (OIC)
Details / Register
IBKR Podcasts

Financial Market Commentary Podcasts

Podcasts Home IBKR Podcasts Cents of Security Podcasts En Español Contributor Podcasts Leave a Review

Listen to IBKR Podcasts on

Apple Podcasts Spotify Audible Amazon Music Podcasts Podbean

Featured Podcasts

Economics of the American Dream: 2024 Edition

Cents of Security

Episode 68

Economics of the American Dream: 2024 Edition

Read More

Intro to Business Models

Cents of Security

Episode 67

Intro to Business Models

Read More
IBKR API

API Tools from Interactive Brokers

IBKR-API Home Documentation Changelog

Overview

Getting Started Contracts Market Data Subscriptions Order Types

Web API

Web API Documentation Web API Reference Web API v1.0 Documentation

TWS API

TWS API Documentation TWS API Reference

Excel

Excel ActiveX Excel DDE Excel RTD

FIX Protocol

FIX

Third-Party Integrations

Available/Existing Integrations Prospective Integrations

Featured API Articles

Using Pandas for Market Data Management

Python Development

Using Pandas for Market Data Management

Read More

IBridgePy Solves the Issue of IB Daily Restart or Daily Shutdown by Automatically Reconnecting

Python Development

IBridgePy Solves the Issue of IB Daily Restart or Daily Shutdown by Automatically Reconnecting

Read More

Handling Options Chains

Python Development - REST Development

Handling Options Chains

Read More

Asset Classes

Free investment financial education

Stocks Education
Options Education
Futures Education
Bonds Education
Forex Education

Learn more about IBKR accounts

Low Commissions1,
Global Access,
Premiere Technology

Learn More About IBKR
1. IBKR Lite provides commission-free trades in US exchange-listed stocks and ETFs. For complete information, see ibkr.com/commissions.
Student Trading Lab

Finance Training in the Classroom

For Teachers For Students Educator Trading Lab Simulated Competition

Sample Curricula

Stock Trading Sample Assignments Option Trading Sample Assignments Futures Trading Sample Assignments Forex Trading Sample Assignments Computer Science Sample Assignments Economics Sample Assignments ESG Sample Assignment

The IBKR Advantage

Real-world
experience for
your classroom

Traders' Glossary

IBKR Glossary of Financial Terms

All Glossary Terms ESG Terms IBKR Quant Terms

Find by letter or search

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Learn more about IBKR accounts

Low Commissions1,
Global Access,
Premiere Technology

Learn More About IBKR
1. IBKR Lite provides commission-free trades in US exchange-listed stocks and ETFs. For complete information, see ibkr.com/commissions.

More Campus Resources

Useful Tools and Information

About The IBKR Campus IBKR Campus Contributors IBKR Campus Authors IBKR Guides Live Charting

Newsletter Signup

IBKR Campus Newsletter Traders' Insight Newsletter IBKR Webinars Newsletter IBKR Quant Newsletter IBKR API Newsletter

Follow us

Facebook LinkedIn X YouTube RSS

Learn more about IBKR accounts

Low Commissions1,
Global Access,
Premiere Technology

Learn More About IBKR
1. IBKR Lite provides commission-free trades in US exchange-listed stocks and ETFs. For complete information, see ibkr.com/commissions.

Language

Multilingual content from IBKR

Getting Started at IBKR

Commencer chez IBKR Introdução à IBKR Introducción a IBKR 盈透证券入门

Podcasts

IBKR Podcasts Español

Learn more about IBKR accounts

Low Commissions1,
Global Access,
Premiere Technology

Learn More About IBKR
1. IBKR Lite provides commission-free trades in US exchange-listed stocks and ETFs. For complete information, see ibkr.com/commissions.
Close Navigation
IBKR Campus
Traders' Academy
  • All Finance Courses
  • Beginner Courses
  • Intermediate Courses
  • Advanced Courses
  • Topics
    • Stocks
    • Options
    • Futures
    • Bonds
    • Other Trading Products
    • IBKR Student Trading Lab
    • Economics
    • Fundamentals
    • Intro to IBKR Tools
    • Advanced IBKR Tools
    • Institutions
    • Taxes
    • API
  • Language
    • Chinese (Simplified)
    • French (Canadian)
    • German
    • Hungarian
    • Italian
    • Portuguese (Brazilian)
    • Spanish (LatAm)
Traders' Insight
  • Traders’ Insight Home
  • IBKR Economic Landscape
  • IBKR Commentary
  • Topics
    • Stocks
    • Options
    • Futures
    • Forex
    • Fixed Income
    • ETFs
    • Commodities
    • ESG
    • Securities Lending
    • Retirement
    • Personal Finance
    • Technical Analysis
    • Macro
IBKR Quant
  • IBKR Quant Home
  • Data Science
  • IBKR API
  • Quant Development
  • Conferences
  • Languages
    • C# Development
    • C++ Development
    • Java Development
    • Julia Development
    • Python Development
    • R Development
    • REST Development
    • TWS Excel API
IBKR Webinars
  • Upcoming Webinars
  • Webinars Aired
  • Webinar Contributors
  • Webinar Topics
    • AI & Machine Learning
    • Alternative Investments
    • Cryptocurrency
    • Energy Sector
    • ESG
    • ETFs
    • Financial Spotlight
    • Fixed Income
    • Forex
    • Futures
    • International
    • Options
    • Taxes
    • Technical Analysis
    • Technology
    • Trading
    • Women in Finance
IBKR Podcasts
  • Podcasts Home
  • IBKR Podcasts
  • Cents of Security
  • Podcasts En Español
  • Contributor Podcasts
  • Leave a Review
IBKR API
  • IBKR-API Home
  • Documentation Changelog
  • Overview
    • Getting Started
    • Contracts
    • Market Data Subscriptions
    • Order Types
  • Web API
    • Web API Documentation
    • Web API Reference
    • Web API v1.0 Documentation
  • TWS API
    • TWS API Documentation
    • TWS API Reference
  • Excel
    • Excel ActiveX
    • Excel DDE
    • Excel RTD
  • FIX
  • Third-Party Integrations
    • Available/Existing Integrations
    • Prospective Integrations

Asset Classes

  • Stocks Education
  • Options Education
  • Futures Education
  • Bonds Education
  • Forex Education
Student Trading Lab
  • For Teachers
  • For Students
  • Educator Trading Lab
  • Simulated Competition
  • Sample Curricula
    • Stock Trading Sample Assignments
    • Option Trading Sample Assignments
    • Futures Trading Sample Assignments
    • Forex Trading Sample Assignments
    • Computer Science Sample Assignments
    • Economics Sample Assignments
    • ESG Sample Assignment
Traders' Glossary
  • All Glossary Terms
  • ESG Terms
  • IBKR Quant Terms
  • Index
    • #
    • A
    • B
    • C
    • D
    • E
    • F
    • G
    • H
    • I
    • J
    • K
    • L
    • M
    • N
    • O
    • P
    • Q
    • R
    • S
    • T
    • U
    • V
    • W
    • X
    • Y
    • Z

More Campus Resources

  • About The IBKR Campus
  • IBKR Campus Contributors
  • IBKR Campus Authors
  • IBKR Guides
  • Live Charting
  • Newsletter Signup
    • IBKR Campus Newsletter
    • Traders’ Insight Newsletter
    • IBKR Webinars Newsletter
    • IBKR Quant Newsletter
    • IBKR API Newsletter

Language

  • Getting Started at IBKR
    • Commencer chez IBKR
    • Introdução à IBKR
    • Introducción a IBKR
    • 盈透证券入门
  • Podcasts
    • IBKR Podcasts Español
Learn more about IBKR accounts

404

We're sorry, that page cannot be found.

IBKR Campus Home

Our pillars of financial education

Courses

Traders' Academy

News

Traders' Insight

Quant

IBKR Quant

Webinars

IBKR Webinars

Podcasts

IBKR Podcasts

API

IBKR API

Educators

Student Trading Lab
Traders' Academy
Traders' Academy
Free online courses on the concepts and tools of financial trading. For active traders, investors, educators and students.
Go to Traders' Academy
Exploring Taxes & Retirement
Level

Exploring Taxes & Retirement

Traders' Insight
Traders' Insight
A venue for market-related articles and commentary covering an array of asset classes and topics. Read finance related content from IBKR employees, exchanges, and third-party contributors.
Go to Traders' Insight
Stocks

Cybertruck Tries to Pull the Whole Market Higher

Options

What the Options Market is Expecting for Tesla Earnings

Macro

Election, Earnings Jitters Hit Wall Street: Oct. 23, 2024

IBKR Quant
IBKR Quant
Quantitative code and news. Take free training courses or learn about the latest updates in the world of quant.
Go to IBKR Quant
Data Science

Artificial Intelligence, Firm Growth, and Product Innovation

API
Data Science - Python Development

Automate Trading Strategies with the Powerful IB API

Data Science - Python Development

Automated Trading Systems: Architecture, Protocols, Types of Latency – Part II

IBKR Webinars
IBKR Webinars
Watch, listen and ask questions in live events on trading, world finance and current trends in the stock market. Access recorded events from the library of topics.
Go to IBKR Webinars
Oct / 29 / 2024 - 10:00 am - EDT

Natural Gas Futures: Seeking Shelter from Weather-induced Price Volatility

Nov / 04 / 2024 - 2:00 pm - EST

Option Strangles

Nov / 07 / 2024 - 12:00 pm - EST

Year-End Tax Planning For Traders

IBKR Podcasts
IBKR Podcasts
IBKR Podcasts offers market commentary on a variety of topics and asset classes. Episodes include discussions with IBKR employees, researchers, and leading financial services companies.
Go to IBKR Podcasts
Cents of Security

Economics of the American Dream: 2024 Edition

Cents of Security

Intro to Business Models

IBKR Podcasts

Opposites Attract: the Inverse Relationship Between Implied Volatility and Gamma

IBKR API
IBKR API
Interactive Brokers complete API documentation. Encompassing Trader Workstation (TWS) API, Client Portal API, Excel API and more.
Go to IBKR API
API
Python Development

IBridgePy Solves the Issue of IB Daily Restart or Daily Shutdown by Automatically Reconnecting

API
Python Development - REST Development

Handling Options Chains

IBKR API
Python Development

Intro to the TWS API

Student Trading Lab
Student Trading Lab
IBKR's educational resources help you bring real-world experience to your classroom. Student Trading Lab is a free online resource for educators. Open an educators account today to get started.
Go to Student Trading Lab
IBKR Student Trading Lab

IBKR Campus Newsletters

IBKR Campus
Bi-Weekly Newsletter

Get updates on podcasts, webinars, courses, and more from our IBKR pillars.

Sign Up
Traders' Insight
Daily Newsletter

View the latest financial news articles from the top voices in the industry.

Sign Up
IBKR Webinars
Weekly Newsletter

Get updates on podcasts, webinars, courses, and more from our IBKR pillars.

Sign Up
IBKR Quant
Weekly Newsletter

For those wanting to trade markets using computer-power by coders and developers.

Sign Up
IBKR API
Monthly Newsletter

Hear about the latest tools and techniques from our own IBKR API staff.

Sign Up
Facebook LinkedIn X YouTube RSS
  • About The IBKR Campus
  • About Interactive Brokers
  • Privacy
  • Cyber Security Notice

© 2024 Interactive Brokers, LLC

IBKR Campus

The risk of loss in online trading of stocks, options, futures, forex, foreign equities, and fixed income can be substantial. Before trading, clients must read the relevant risk disclosure statements on IBKR's Warnings and Disclosures page.

The analysis in this material is provided for information only and is not and should not be construed as an offer to sell or the solicitation of an offer to buy any security. To the extent that this material discusses general market activity, industry or sector trends or other broad-based economic or political conditions, it should not be construed as research or investment advice. To the extent that it includes references to specific securities, commodities, currencies, or other instruments, those references do not constitute a recommendation by IBKR to buy, sell or hold such investments. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Securities or other financial instruments mentioned in the material posted are not suitable for all investors. The material posted does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before making any investment or trade, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice. Past performance is no guarantee of future results.

Any information provided by third parties has been obtained from sources believed to be reliable and accurate; however, IBKR does not warrant its accuracy and assumes no responsibility for any errors or omissions.

Any information posted by employees of IBKR or an affiliated company is based upon information that is believed to be reliable. However, neither IBKR nor its affiliates warrant its completeness, accuracy or adequacy. IBKR does not make any representations or warranties concerning the past or future performance of any financial instrument. By posting material on IBKR Campus, IBKR is not representing that any particular financial instrument or trading strategy is appropriate for you.

Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

Please note that any advertisement has not been reviewed by the Monetary Authority of Singapore.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. If you have any questions or comments, or are interested in becoming a contributor to the IBKR Campus, please contact us here.

Interactive Brokers LLC

Is a member NYSE - FINRA - SIPC and regulated by the US Securities and Exchange Commission and the Commodity Futures Trading Commission. Headquarters: One Pickwick Plaza, Greenwich, CT 06830 USA.
Website: www.interactivebrokers.com

Interactive Brokers Canada Inc.

Is a member of the Investment Industry Regulatory Organization of Canada (CIRO) and Member - Canadian Investor Protection Fund. Registered Office: 1800 McGill College Avenue, Suite 2106, Montreal, Quebec, H3A 3J6, Canada.
Website: www.interactivebrokers.ca

Interactive Brokers Australia Pty. Ltd.

ABN 98 166 929 568 is licensed and regulated by the Australian Securities and Investments Commission (AFSL: 453554) and is a participant of ASX, ASX 24 and Cboe Australia. Registered Office: Level 11, 175 Pitt Street, Sydney, New South Wales 2000, Australia.
Website: www.interactivebrokers.com.au

Interactive Brokers Hong Kong Limited

Is regulated by the Hong Kong Securities and Futures Commission, and is a member of the SEHK and the HKFE. Registered Office: Suite 1512, Two Pacific Place, 88 Queensway, Admiralty, Hong Kong SAR.
Website: www.interactivebrokers.com.hk

Interactive Brokers India Pvt. Ltd.

Is a trading member of NSE, BSE, and depository participant of NSDL. SEBI Registration No. INZ000217730; NSDL: IN-DP-602-2021. CIN-U67120MH2007FTC170004. Registered Office: 502/A, Times Square, Andheri Kurla Road, Andheri East, Mumbai 400059, India. Phone: +91-22-61289888 | Fax: +91-22-61289898.
Website: www.interactivebrokers.co.in

Interactive Brokers Securities Japan Inc.

Is regulated by Kanto Local Finance Bureau (Registration No.187) and is a member of Japan Securities Dealers Association and The Commodity Futures Association of Japan. Registered Office: Kasumigaseki Building 25F, 2-5 Kasumigaseki 3-chome, Chiyoda-ku, Tokyo, 100-6025 Japan. Phone: +81 (0)3-4588-9700 (On business days from 8:30-17:30 JST).
Website: www.interactivebrokers.co.jp

Interactive Brokers Singapore Pte. Ltd.

Is licensed and regulated by the Monetary Authority of Singapore (Licence No. CMS100917). Registered Office: #40-02A, Asia Square Tower 1, 8 Marina View, Singapore 018960.
Website: www.interactivebrokers.com.sg

This website uses cookies to collect usage information in order to offer a better browsing experience. By browsing this site or by clicking on the "ACCEPT COOKIES" button you accept our Cookie Policy.

Traders' Insight RSS

To add IBKR Traders’ Insight to your RSS Feed, please paste the following link into your reader:

IBKR Quant RSS

To add IBKR Quant to your RSS Feed,
please paste the following link into your reader:

Attention

This page contains information regarding Options Trading

To view this page, you must acknowledge that you have received the Characteristics & Risks of Standardized Options, also known as the options disclosure document (ODD). Options involve risk and are not suitable for all investors. For more information, click here to read the "Characteristics and Risks of Standardized Options" or visit: ibkr.com/occ

By acknowledging this disclosure you are also allowing this website to use "functional" cookies on your browser. To find out more about cookies, see our privacy settings.

Privacy Preference Center

Your Privacy
Strictly Necessary
Performance Cookies
Functional Cookies
Marketing Cookies
Cookie Policy

Your Privacy

When you visit any website it may use cookies and web beacons to store or retrieve information on your browser. This information might be about you, your preferences or your device and is typically used to make the website work as expected. The information does not usually directly identify you, but can provide a personalized browsing experience. Because we respect your right to privacy, you can choose not to allow some types of cookies and web beacons. Please click on the different category headings to find out more and change our default settings. However, blocking some types of cookies may impact your experience on our website and limit the services we can offer.

Strictly Necessary Cookies

Strictly necessary cookies are necessary for the website to function and cannot be switched off in our systems. They are typically set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. While you can set your browser to block or alert you about these cookies, some parts of the website will not work. These cookies do not store any personally identifiable information.

ALWAYS ACTIVE

Performance Cookies

Performance cookies and web beacons allow us to count visits and traffic sources so we can measure and improve website performance. They help us to know which pages are the most and least popular and see how visitors navigate around our website. All information these cookies and web beacons collect is aggregated and anonymous. If you do not allow these cookies and web beacons we will not know when you have visited our website and will not be able to monitor its performance.

Allow Performance Cookies:

Functional Cookies

Functional cookies enable our website to provide enhanced functionality and personalization. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.

Allow Functional Cookies:

Marketing Cookies and Web Beacons

Marketing Cookies and web beacons may be set through our website by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other websites. They do not directly store personal information, but uniquely identify your browser and internet device. If you do not allow these cookies and web beacons, you will experience less targeted advertising. Our website does not track users when they cross to third party websites, does not provide targeted advertising to them and therefore does not respond to "Do Not Track" signals.

Allow Marketing Cookies:

Interactive Brokers Group Cookie Policy

What are Cookies and Web Beacons?

Cookies are pieces of data that a website transfers to a user's hard drive for record-keeping purposes. Web beacons are transparent pixel images that are used in collecting information about website usage, e-mail response and tracking. Generally, cookies may contain information about your Internet Protocol ("IP") addresses, the region or general location where your computer or device is accessing the internet, browser type, operating system and other usage information about the website or your usage of our services, including a history of the pages you view.

How We Use Cookies and Web Beacons

Interactive Brokers Group collects information from cookies and web beacons and stores it in an internal database. This information is retained in accordance with our Privacy Policy. This website uses the following cookies and web beacons:

Strictly Necessary Cookies

These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can configure your browser to block or alert you about these cookies, but certain areas of the site will not function properly. These cookies do not store any personal data.

Performance Cookies and Web Beacons

These cookies and web beacons allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information that these cookies and web beacons collect is aggregated and, therefore, anonymous. If you do not allow these cookies and web beacons our aggregated statistics will not have a record of your visit. The website uses Google Analytics, a web analytics service provided by Google, Inc. ("Google"). Google Analytics uses cookies to help analyse how you use this website. The information generated by the cookie about your use of this website (including your IP address) will be transmitted to and stored by Google on servers in the United States. Google will use this information for the purposes of evaluating your use of the website, compiling reports on website activity for website operators and providing other services relating to website activity and internet usage. Google may also transfer this information to third parties where required to do so by law, or where such third parties process the information on Google's behalf. Google will not associate your IP address with any other data held by Google.

Functional Cookies

These cookies enable the website to provide enhanced functionality and personalization. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies, some or all of these services may not function properly.

Marketing Cookies and Web Beacons

These cookies and web beacons may be set throughout our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant advertisements on other sites. They do not store personal information that could identify you directly, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies and web beacons, you will experience less targeted advertising. The website does not track users when they cross to third party websites, does not provide targeted advertising to them and therefore does not respond to Do Not Track ("DNT") signals.

Managing Your Cookie Preferences

You have many choices with regards to the management of cookies on your computer. All major browsers allow you to block or delete cookies from your system. However, if you do decide to disable cookies you may not be able to access some areas of our website or the website may function incorrectly. To learn more about your ability to manage cookies and web beacons and how to disable them, please consult the privacy features in your browser or visit www.allaboutcookies.org. This website may link through to third party websites which may also use cookies and web beacons over which we have no control. We recommend that you check the relevant third parties privacy policy for information about any cookies and web beacons that may be used.

IBKR LLC (U.S.)

Close Navigation

We are redirecting you to the Interactive Brokers LLC (U.S.) Website. Should you decide to open an account, you will be redirected to the account application for your region. You can also find the website of the IBKR entity for your region at the bottom of this page.

Take me to IBKR.com