Options automated trading system (OATS) and method of options trading

An options automated trading system comprising:

• means for tracking current market prices for equity securities;
• means for determining when a predetermined price condition related to an underlying security price and a current market price of a security is fulfilled;
• and,
• means for automatically executing a trade of a corresponding predefined option order pertaining to the security.

A method of trading a derivative security based on an underlying security having an attribute, comprising the steps of:

• receiving a condition associated with said attribute;
• tracking a value of said attribute of said underlying security;
• determining when said value of said attribute meets said condition associated with said attribute;
• and,
• automatically executing a trade in said derivative security.