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NT8 Options Workspace SetUp-How to?

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NT8 Options Workspace SetUp-How to?

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  #1 (permalink)
Melbourne, Australia
Experience: Beginner
Platform: Ninja Trader
Broker: Ninjatrader Brokerage
Trading: Many
Posts: 130 since May 2012
Thanks: 139 given, 84 received

I run NT8 with Kinetik on Futures with a funded account and am aware of most features in NT8 However I am relatively new to options. Am interested in testing some basic option strategies in SIM: Options on Futures.

Is there is a detailed video on how to set up Option related Workspaces? How to set up an option chain, how to see any risk/reward modelling etc etc? I tried google....no luuck

Basically I want to test if this Options approach suits me.

I was on ThinkOr Swim many years ago, but they kicked off all the Australian account holders, for some strange compliance reason and with the passing of time, I now consider myself a total Options newbie.

Thank you in advance

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  #2 (permalink)
Essen, Germany
Experience: Intermediate
Platform: Quantower
Trading: Futures Spreads and Options on Futures
Posts: 14 since Feb 2016
Thanks: 13 given, 27 received

The NT 8 implementation of options functionality is, in its present manifestation, incredibly basic. What you see in the help guide (ninjatrader.com/support/helpGuides/nt8/?option-chain.htm) is pretty much it. It doesn't provide much beyond presenting a rudimentary options chain. If you want pre-defined strategies, vol skew, options analytics etc. you're pretty much out of luck - at least for now. Anyone coming from Thinkorswim, TastyWorks, TradeStation, Interactive Brokers or Options House (now E*Trade) will find the options functionality extremely basic.

If you're interested in analyzing options on futures I highly recommend Quikstrike. Bantix (Option Analysis & Pricing Software - QuikStrike - Bantix) offers a paid version but Quikstrike Essentials (a more stripped down version) is available for free on the CME web site: https://www.cmegroup.com/tools-information/files/quikstrike-user-guide.pdf. The guy in charge at Bantix contributes every week to the "This Week in Futures Options" podcast - that is worth a listen (https://www.theoptionsinsider.com/author/twifo/).

The lack of decent options functionality, along with a lack of support for futures spreads are just two of the many reasons I am now actively planning on moving from Ninjatrader to Quantower (https://www.quantower.com/options-trading-features).

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  #3 (permalink)
Melbourne, Australia
Experience: Beginner
Platform: Ninja Trader
Broker: Ninjatrader Brokerage
Trading: Many
Posts: 130 since May 2012
Thanks: 139 given, 84 received

Thank you Cordoba
Much appreciated !

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November 4, 2020

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