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Option strategy cheat sheet and best software
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Option strategy cheat sheet and best software

  #21 (permalink)
Elite Member
Richland WA/USA
 
Futures Experience: Intermediate
Platform: tws, tos
Favorite Futures: RUT, GC, CL
 
Posts: 38 since Mar 2013
Thanks: 10 given, 18 received


Bookworm View Post
I use OV and agree on the issue of Data. I tried to use IB quotes at first and had lots of problems with slow or missing prices in OV. After talking to them I switched to feeding OV with quotes from TOS and the problems were solved. I still use IB to trade but if you want to save money on data for OV then go with something other than IB.

Another option is to use backtrader in OV. You get 30 min delayed quotes but more importantly a way to test different option strategies under different market conditions.

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  #22 (permalink)
Elite Member
Sherborne, United Kingdom
 
Futures Experience: Intermediate
Platform: QTrader
Broker/Data: IB/CQG
Favorite Futures: Retrospectroscope - for 20/20 Hindsight
 
SisyphusStone's Avatar
 
Posts: 115 since Aug 2012
Thanks: 68 given, 197 received

too many options!

Just read the thread - some interesting observations and comments which I've appreciated reading.

I've not long started dipping a toe in the options pool, but spend a lot of time gnashing my teeth and cursing IB. I spent quite a lot of time initially going through a pile of the material on the TastyTrade site and learned a lot - some really good stats there - and before I knew it I felt I was pretty familar with the TOS platform which I found very intuitive. Now IB on the otherhand I find totally unintuitive and clunky and that's with their recent big revamp. Bloody longwinded, awkward and slow! To think they've had TOS as an example for a decade or so! The irony is that I can't get the TOS platform because 'for regulatory reasons' TD's UK/European affiliate broker doesn't offer it. What those regulatory reasons are that don't seem to apply to anyone else like IB I've no idea (BS I don't doubt like all the mindless risk disclaimers that have to go infront of every webinar etc and yet all the retail FX brokers can merrily offer 500:1 leverage on retail accounts!) Sosnoff now has their new 'Douigh' platform out and it seems pretty good, but again since it's tied in with a TD account and they aren't likely to release and API for any other broker you're FCUKed here in the UK!
Apologies if that was a bit of a rant, really just wanted to suggest to Leinster that he might find some useful info on the TastyTrade website on strategies (Market Measures is perhaps the best place to start looking). For me the biggest issue with selling premium is knowing - and feeling confident that I know! - how to defend a position when it (invariably) gets challenged. There's loads of info out there on strategies but a real paucity of info on how and when to defend them!

Best of luck!

SS

"Give me control of a nation's money and I care not who makes the laws."
Mayer Amschel Rothschild (1744 -1812)
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  #23 (permalink)
Elite Member
Budapest Hungary
 
Futures Experience: Intermediate
Platform: TOS, Interactive Brokers
Favorite Futures: Options
 
Posts: 13 since May 2012
Thanks: 3 given, 9 received

ONE


I have not see anybody mentioning Optionnetexplorer (Options Trading and Analysis Software). It has live feed API integration with TOS, IB, Trademonster, OptionHouse. I have been using it (I am with IB, it does work well with IB, but just like in case of OV TOS will be a faster feed) for 2 years now and could not live without it. Software gets better year on year, for me having used OV before OptionNet is a much more intuitive platform at a fraction of the cost. It currently does not support futures (only stocks, indexes, ETFs) so that's a downside for futures options traders but I am sure this will be remedied soon.

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  #24 (permalink)
Elite Member
Richland WA/USA
 
Futures Experience: Intermediate
Platform: tws, tos
Favorite Futures: RUT, GC, CL
 
Posts: 38 since Mar 2013
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Tradelog View Post
I have not see anybody mentioning Optionnetexplorer (Options Trading and Analysis Software). It has live feed API integration with TOS, IB, Trademonster, OptionHouse. I have been using it (I am with IB, it does work well with IB, but just like in case of OV TOS will be a faster feed) for 2 years now and could not live without it. Software gets better year on year, for me having used OV before OptionNet is a much more intuitive platform at a fraction of the cost. It currently does not support futures (only stocks, indexes, ETFs) so that's a downside for futures options traders but I am sure this will be remedied soon.

ONE (as they call it ) is a nice piece of software. This is what OV should have looked like. As you said though it cannot do future options and that is a big minus for me.

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  #25 (permalink)
Trading for Fun
St Paul, MN, USA
 
Futures Experience: Advanced
Platform: Abacus
Broker/Data: RJO, Interactive Brokers
Favorite Futures: Commodity Futures & Options
 
Posts: 196 since Jan 2014
Thanks: 117 given, 191 received

Regarding Option Net Explorer (ONE), I *think* it's only in the last year or so that they started actively marketing it as a standalone product. For a while, I believe you had to subscribe to one of Dan Sheridan's mentoring programs to gain access.

I just glanced at the pricing page and it's about $70 USD per month if you buy a 12-month subscription (it's priced in British pounds). That seems like a decent price if the data connections work well and it has the features you're looking for.

On a related note, I think OptionVue might be feeling some competitive heat:

OptionVue Summer Lease Specials

OV's leasing program and its "bring your own data" program are both relatively new (in the last 2 yrs?) and helped to bring the annual cost down to under $2000. The prices shown on the link above are even better; the least expensive option is a 12-mo lease for $850 or $70/mo.

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  #26 (permalink)
Elite Member
Richland WA/USA
 
Futures Experience: Intermediate
Platform: tws, tos
Favorite Futures: RUT, GC, CL
 
Posts: 38 since Mar 2013
Thanks: 10 given, 18 received


CafeGrande View Post

On a related note, I think OptionVue might be feeling some competitive heat:

OptionVue Summer Lease Specials

OV's leasing program and its "bring your own data" program are both relatively new (in the last 2 yrs?) and helped to bring the annual cost down to under $2000. The prices shown on the link above are even better; the least expensive option is a 12-mo lease for $850 or $70/mo.

That is the lowest price I have seen for OV.

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  #27 (permalink)
Elite Member
Chicago IL
 
Futures Experience: Intermediate
Platform: NT CQG TWS
Favorite Futures: Futures and FOPs
 
Posts: 59 since Mar 2014
Thanks: 7 given, 15 received

Hey Cafe,

Do you know if OptionVue has a historical volatility database?

Xand

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  #28 (permalink)
Trading Apprentice
Reno NV
 
Futures Experience: Advanced
Platform: Wedbush/Lime
Favorite Futures: equity vola
 
Posts: 7 since Nov 2014
Thanks: 1 given, 3 received


xandman View Post
Hey Cafe,

Do you know if OptionVue has a historical volatility database?

Xand

They do; it is a subscription service. IMO, you're better off opening a TOS account and using their vol-charts.

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  #29 (permalink)
Elite Member
Chicago IL
 
Futures Experience: Intermediate
Platform: NT CQG TWS
Favorite Futures: Futures and FOPs
 
Posts: 59 since Mar 2014
Thanks: 7 given, 15 received

Nice to see you here, man. A major asset to the forum. I hope you get active.

Don't butt heads too early, though. I hear BM has an Iron Hand.


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