Level II (2024)

Level II is a thinkorswim gadget that displays best ask and bid prices for each of the exchanges making markets in stocks, options, and futures. It is essentially a real-time ordered list of best bids and asks of an underlying that allows instant order placement. Like all other gadgets, Level II can be displayed as a section of the left sidebar or a separate window (see the Left Sidebar article for details).

In the gadget header you will see the following elements: the symbol selector, the 'clip' icon Level II (1) , the full name of the symbol, the current market price of the selected symbol, and its percentage and absolute change since midnight. The clip icon brings up a color-and-number selection menu; choosing a color in this menu will link Level II to all thinkorswim components with similar color. Consider linking Level II to a watch list so that clicking through the latter will immediately display the corresponding symbols in Level II.

For stocks and options, Level II is a color-coded display of best bid and ask prices from a given set of exchanges. Use the toggle in the upper right corner of the working area to switch between the pre-defined sets (books): Level II, NASDAQ Full Book, and BATS/EDGE Full Book. For futures, since they each trade on a single exchange, Level II displays first several layers of that exchange's book.

When you specify the symbol in the symbol selector, you will see the real-time quotes in the working area. The working area is divided into two sets of columns: bid-related (to the left) and ask-related (to the right). These columns identify the marketplace or market maker at the given bid or ask price with respective number of shares to be bought or sold (ask/bid size). In both ask and bid size columns, the numbers represent hundreds of available shares or contracts: for example, 3 in the bid size column means that there are 300 shares or contracts ready to be bought at the respective bid price at the respective exchange.

Since the purpose of Level II is providing you with best bid ask prices, the columns are sorted accordingly. By default, the bid area of the gadget is sorted in descending order by the bid price column, so that highest prices are on top. As it might be expected, the ask side is sorted vice versa: the default sorting displays lowest prices on top. You can re-sort the columns in the reverse order by clicking on the Bid or Ask title, or sort the set by exchange name or bid/ask price by clicking the title of respective column.

Level II enables you to add orders instantly. Click on a bid price in Level II to add a sell order; clicking on an ask price will prompt you to add a buy order.

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Level II (2024)

FAQs

What does Level II mean? ›

Level II is essentially the order book for stocks that trade on the Nasdaq exchange. Orders are placed through many market makers and other market participants. Level II displays a ranked list of the best bid and ask prices from each of these participants. This gives you detailed insight into the price action.

Is level 2 worth it? ›

Level 2 data is important for traders because it shows the full range of open orders for a stock, not just the current best bid and ask price. Using Level 2 data, you can identify potential trades before they become apparent on technical charts or get additional information about a trade you have planned.

What is a level II code? ›

HCPCS Level II: A standardized coding system that is used primarily to identify products, supplies, and services not included in the CPT® codes, such as ambulance services or durable medical equipment, prosthetics, orthotics, and supplies (DMEPOS) when used outside a physician's office.

What is Level II intelligence? ›

Briefly, Level I involves rote learning and primary memory ability requiring minimal transformation or mental manipulation of the informational inputs prior to recall of the material; Level II involves transformation, mental manipulation, or reasoning; Level I is epitomized by the forward digit span test, Level II by ...

What does a Level 2 stand for? ›

Thus attaining a Level 2 qualification can be equivalent to achieving GCSE grades 9, 8, 7, 6, 5, or 4 previously graded A*, A, B, or C. Other examples of Level 2 qualifications include: O level (grades A, B, or C) Grade 1 as CSE level. Level 2 functional skills or essential skills.

What does Level 2 mean in a hospital? ›

Level 2 (emergent) requires an immediate nursing assessment and rapid treatment and includes patients who are in a high-risk situation, are confused, lethargic, or disoriented, or have severe pain or distress, including patients with stroke, head injuries, asthma, and sexual-assault injuries.

What is level 2 equivalent to? ›

A Level 2 qualification represents a specific level of academic or vocational achievement recognised by an accrediting body in the United Kingdom. Broadly equivalent to GCSEs in academic terms, Level 2 now aligns with a broad range of vocational qualifications and apprenticeships.

What is better Level 2 or Level 3? ›

It depends on the age, condition, and future plans for the property. A Level 2 survey is suitable for most properties, while a Level 3 survey provides a more in-depth assessment for older or problematic properties.

What is level 2 grade? ›

Level 2 qualifications are: CSE - grade 1. GCSE - grades 9, 8, 7, 6, 5, 4 or grades A*, A, B, C. intermediate apprenticeship.

What is a Level II credential? ›

California has a two-tier credential structure. A five-year Level I credential is the first document issued after an individual meets basic credential requirements. Level II is the professional clear credential when all credential requirements have been met.

What is level 2 coding? ›

This qualification is designed for learners who are looking to gain an introduction to coding. It will support the learner to progress into further study and support those interested in progressing to employment in a coding or IT related role.

What are category II codes used for? ›

Category II CPT codes: performance measurement

These codes are intended to facilitate data collection about quality of care by coding certain services and/or test results that support performance measures and that have been agreed upon as contributing to good patient care.

What does level 2 mean? ›

Level 2 is a generalized term for market data that includes the scope of bid and ask prices for a given security. Also called depth of book, Level 2 includes the price book and order book, listing all price levels of quotes submitted to an exchange and each individual quote.

What is level 2 of intelligence? ›

Intelligence Studies of Arthur Jensen

Jensen identified two different types of intellectual ability, which he labeled Level 1 and Level 2. Level 1 skills include memory and associative functions, while Level 2 skills include abstract and conceptual thinking.

What is level 2 pricing? ›

Level 2 is a generalized term for market data that includes the scope of bid and ask prices for a given security. Also called depth of book, Level 2 includes the price book and order book, listing all price levels of quotes submitted to an exchange and each individual quote.

What does Level 2 mean in grades? ›

The following is the levels on the Ontario rubric, its meaning, and its corresponding letter/percentage grades: Level 4, beyond government standards (A; 80 percent and above) Level 3, at government standards (B; 70–79 percent) Level 2, approaching government standards (C; 60–69 percent)

What does 2nd level mean? ›

The second-level education sector comprises secondary, vocational, community and comprehensive schools. Secondary schools are privately owned and managed. Second-level education consists of a three-year junior cycle followed by a two or three-year senior cycle.

What is a position level 2? ›

What are second level positions? Second level positions refer to professional, technical and scientific positions which involve professional, technical or scientific work in a non-supervisory or supervisory capacity requiring at least four years of collegiate work up to Division Chief level.

What does Level 2 mean in driving? ›

Level 2 automated driving is defined as systems that provide steering and brake/acceleration support, as well as lane centering and adaptive cruise control. Even if these technologies are activated, the human at the wheel must be driving and constantly supervising the automated features.

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