Dependent and Independent Legs

In OptionsApp, you can define complex options strategies with multiple Legs within a Trade Template. The app distinguishes between two types of Legs: independent and dependent Legs. This differentiation enables very precise and flexible Strike handling, from individually defined contracts to Spreads with fixed spread widths.

1. Independent Legs

An independent Leg is a Leg that is searched for autonomously based on a selected criterion. It is completely independent of the other Legs in the same group.

Recognition in the interface

Independent Legs are identified by a small circle displayed on the left. This symbol shows that the Leg acts autonomously from the Main Leg.

Creating an independent Leg

To add an independent Leg, click on "Add Leg" below the group. A new Leg will appear that you can configure with your own criterion.

2. Dependent Legs

A dependent Leg is linked to the so-called Main Leg. It receives its Strike not through its own search criterion, but through a fixed offset in points from the Main Leg's Strike.

Example: If the Main Leg is defined as a Short Put with $1.00 Premium, the dependent Leg can be set with an Offset of -30 points. If the Main Leg's Strike is at 6000, this results in a dependent Leg at Strike 5970.

Important: When setting the Offset for dependent Legs, you must pay careful attention to the sign!

This method works well for fixed Spread structures, such as Vertical Spreads or Iron Condors.

Recognition in the interface

Dependent Legs are represented by a link symbol on the left next to the Leg. This indicates the dependency to the Main Leg.

Creating a dependent Leg

A dependent Leg is added via the bracket symbol on the right next to the Main Leg. After that, a new row with Offset settings appears. A dependent Leg can only be created if a Main Leg already exists.

3. Comparison of Leg types

• Strike determination: Independent Leg: by its own criterion (e.g. Delta). Dependent Leg: via Offset relative to the Main Leg.
• Visual symbol: Independent Leg: circle (o). Dependent Leg: link symbol.
• Added via: Independent Leg: "Add Leg" button. Dependent Leg: bracket symbol next to the Main Leg.
• Complexity: Independent Leg: greater flexibility. Dependent Leg: simpler Strike structure with a fixed distance.

4. Order of execution

OptionsApp processes Legs in groups always from top to bottom. First, the Strike of the Main Leg is determined, then the dependent Legs. It is important that the Main Leg is already correctly defined for dependent Legs.

5. Example

In a Vertical Put Spread:

• Main Leg (Short Put): Premium $1.00
• Dependent Leg (Long Put): Offset -30 automatically results in a Strike 30 points below the Short Put

In an individual setup with two independent Legs:

• Short Put with Delta 20
• Long Put with Delta 10

Both Legs are determined independently of each other.

This structure allows you to implement all common strategies precisely and automatically in OptionsApp