1. Requirements
   
• QuoteTracker Settings
  
2. Introduction
   
• Getting Started
  
3. Portfolio Window
   
4. Option Chain Window
   
5. Transactions Window
   
6. Preferences
   
7. General Functions:
• Purchasing Stocks/Calls/Puts
• Closing Stock/Call/Put Positions
• Writing Covered Calls
• Closing Covered Calls
• Advanced Functions:
• Logging a Transaction in QTExtender while Simultaneously Send the Position to QuoteTracker
  
• Queueing a Transaction for Possible Execution
  

Requirements

Because QTExtender utilizes QuoteTracker for price retrieval, you are still limited to the same symbol restrictions as in QuoteTracker. Whenever QTExtender downloads an option chain, or processes a buy/write transaction, the symbol gets added to QuoteTracker and the max number of symbols that you can view from witin QT, is decreased.

QuoteTracker Settings

 1) Be sure to have the QTServer turned on. This can be achieved by setting "Options->Edit Preference->Misc->HTTP Server Setting" to ON.

 2) If you want to view all of your portfolios in realtime and support the realtime updating of option chain data (contingent upon data provider), you must select "Fetch Quotes for All Portfolios" from your preferences.

 ** If you experience the following error when launching the demo, you need to upgrade to the Microsoft's latest data access components. This is most likely to happen with legacy systems running Windows 95 or Windows 98. You can download the latest drivers here.

        Connection String=Provider=MicrosoftJet.OLEDB.4.0;Data Source=C:\Program Files\QTExtenderDemo\QTExtender.mdb
        CADODataBase Error
        Code=800a0e7a
        Code Meaning = Unknown error 0x800A0E7A
        Source = ADODB.Connection
        Description = ADO could not find the specified provider

Introduction

QTExtender (QTE) is divided into three main working sections. They are as follows :

Portfolios (One)

- This pane displays selected portfolios from QuoteTracker. This window gives you a convenient view of the symbols that you are watching on the QuoteTracker side, without having to switch applications. These windows are synchronized against QuoteTracker every time QTExtender starts.

Option Chains (Two)

- By selecting a stock from the Portfolios window, the corresponding option chain data will be displayed. Option chain data must be updated, before you can display any data.

Transactions (Three)

- All transactions are displayed within this pane. The transactions placed within QTExtender are stored in a database, and the symbol transacted against, is added to the selected QuoteTracker portfolio as specified in the order dialog. The unfilled tab represents those positions that which the entry price has not yet been defined. The Portfolio Summary tab shows an overall value for each distinct portfolio.

Getting Started

1. You should verify that QuoteTracker is running before launching QTExtender.
2. When QTExtender starts, you will be prompted as to which portfolios you would like to carry over from QuoteTracker. Select the desired portfolios by checking the box next to its name.
   
   BASIC Users You are limited to watching five QuoteTracker portfolios.
3. After selecting the QuoteTracker portfolios you wish to utilize, a second prompt will appear asking whether you would like to import portfolio data from QuoteTracker into QTExtender.
   If you have logged transactions within QuoteTracker, this is the process that will retrieve those transactions (only from the QuoteTracker portfolios previously selected) and will import the data into the QTExtender database. All transactions are treated as stock purchases. If the date of purchase was logged in the QuoteTracker comment field, that date will be translated appropriately
   Once this process is complete, you should see all of your QuoteTracker transactions show up under the "Stocks" tab of the Transactions window.
4. Next you need to give your selected portfolios value. Click on the Transaction menu item and pull down to deposit. Select which portfolio you wish to deposit the money in. Enter the amount of money, and look at the "Trade Log" tab of Transactions to make sure that the amount is reflected for that portfolio.

Portfolios Window

• The portfolios window provides a direct means of viewing your QuoteTracker portfolios. Each QuoteTracker portfolio is represented by its own tab.
• You can control which QuoteTracker portfolios get imported by selecting "Select Import Portfolios" under the file menu. If you update/change which portfolios from QuoteTracker that you'd like to view, QTExtender will have to be restarted.
• Option chain data can be updated from this window. Right click on the stock symbol and select "Update Option Chain", and this will retrieve current option data for the selected stock from the CBOE.

Option Chain Window

• The option chains window displays option chain data as downloaded from the CBOE. By right clicking on an option, you are allowed to write covered calls for that particular contract, purchase calls/puts, or export the displayed chain data.
• By clicking on a stock symbol in the portfolios window (see above for updating option chain data), the selected stock symbol's chain data will be displayed in the option chain window.
• If you wish to keep the current chain data in the option chain window, while being able to select different symbols in the Portfolios window, select the "Lock Selection" check box.

Transactions Window

• The first four tabs are show their relative position types. By clicking on the "Which Portfolio" dropdown, you can view positions by their respective portfolio. By clicking on the "Display" dropdown box, you can select between open and closed positions.
• For the positions where an entry price isn't specified, they will be listed in under the "Unfilled" tab. This tab is especially useful if there are several positions you are considering, you can queue up the positions and activate them as needed. In order to make them active positions, you need to manually input the price for which you entered the position at.
  
  
  Leave the entry price blank if you want the transaction to appear in the unfilled position listing.
  
  
  Edit the "entry" column and manually to input the filled price to activate the position.
  
  
• The "Trade Log" tab displays all transactions. You can filter by month, year, portfolio, or any combination of those properties.

Preferences

• Section one refers to how often QTExtender queries QuoteTracker for quote updates. This is not how often QuoteTracker retrieves quotes from the data provider. That preference is set within QuoteTracker.
• Section two represents the option data retrieval options. The "Download" option represents which option types you would like to retrieve data for. These are the same symbols that realtime data is retrieved for, so if you do not utilize puts in your trading, it would be highly beneficial to turn off their downloading for the next time QTExtender is started, it will not track any of the put symbols.
• Section three is where you define your commission pricing. If you pay a flat rate for either stock or option purchases, simply put that rate in the base price, and list the per share units at zero.

General Functions

• Purchasing Stocks/Calls/Puts

  Purchasing a stock/call/put is done by selecting the "Transaction" option from the main menu, and choosing the desired transaction. When within the transaction dialog, the desired transaction type can be easily switched by manipulating "position type" dropdown.
  

• Closing Stock/Call/Put Positions

  To close a position, right click on the desired position within the transaction window and select "close position" from the popup menu. You will be prompted for the exit price. You can also adjust the number of shares if you are liquiidating a partial position.
  

• Writing Covered Calls

  In order to write a covered call, just like in the real world, you must acquire the necessary number of shares to back the call writing. You must first record an appropriate stock purchase through QTExtender, before attempting to record a covered call (see process outlined above).
  
  Select a stock from the portfolios window, and update its option chain data. Once the update is complete, click on that same stock again, and you should see the option chain data displayed in the option chain panel. Write click on the desired call and select "Write Covered Call".
  
  The selected option will then be displayed in the covered call window. Label one points to the list that shows all underlying stock positions. The are the stocks that it is valid to write against. Label two displays all open covered calls for the underlying stock. Label three displays the cost avg of all stocks positions for the underlying stock. By clicking on this edit box, the value will automatically be copied to the "Underlying Stock Purchase Price" field. Label four represents the number of shares that are uncovered and do not have covered calls written against them. By clicking on this edit field, QTExtender will calculate the maximum number of calls that can be written against the total share value (e.g. 200 shares = 2 calls), and will place this value in the "# of Contracts" field.
  

• Closing Covered Calls

  To close the covered call, select the "Covered Calls" tab of the Transactions window. Right click on the desired open covered call, and select "Close Covered Call" from the popup menu. You will see a dialog that presents you with three options.
  
  
  Selecting option two, no commission is incurred, and you keep the entire premium. Selectiung option three, commission is incurred on the options that are repurchased, and your profit is based on the difference of the original write price minus the cost of the repurchased options. With option three along with keeping the premium of the covered call, you are required to liquidate shares at the covered call's strike price. You must manually select which shares to cover the cover call exercise.
  
  

Advanced Functions

• Logging a Transaction in QTExtender while Simultaneously Send the Position to QuoteTracker

  This option is only available to ADVANCED QTExtender users (DEMO users can experiment with it on a limited basis). If you would like to have your order setup copied to QuoteTracker while simulatenously having it logged in QTExtender, here is what needs to be done. Check the box "Place Order through QuoteTracker". Select the broker that you current have configured within QuoteTracker. When you record the transaction in QTExtender, you will automatically be transferred over to QuoteTracker with the appropriate transaction fields already filled out with the values you selected in QTExtender.
  Since QTExtender doesn't know what you got filled at, the transaction is left as unfilled. You just simply have to update the record with what you were filled at, and your Schedule D record keeping is simplified to a two step process.
  
  
  The transaction values recorded in QTExtender are then copied over to QuoteTracker so that you can conveniently place your order without have to retype the information.
  
  

• Queueing a Transaction for Possible Execution

  Please see the transaction section to see how to accomplish this.