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Recommendations for Option chains Analysis Software


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Recommendations for Option chains Analysis Software

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  #1 (permalink)
UDEFG333
Zuerich SW
 
 
Posts: 1 since Jan 2021
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Hi,

I am a long time Sierra Chart User and recently learning Options.
I would need some advice. I am looking for a best of breed software like Sierra Chart is for Futures, but for Option chains Analysis.

It should be affordable in Price (not some Hedge Fund pricing) and I donít want to use some fancy Broker SW (want to stay independent).

Thanks.
U

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  #2 (permalink)
 dynoweb 
McKinney, TX
 
Experience: Intermediate
Platform: ThinkOrSwim, NinjaTrader
Broker: TOS & Rithmic
Trading: The indexes, ES, YM, NQ & RTY
 
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I've been trading options for over 20 years now. The best tool that I know of is ThinkOrSwim available for TDAmeritrade customers. The analyzer can provide insights that I haven't been able to find in other broker tools. I've tried IB, TradeStation, E-Trade & TastyWorks.

If you're talking about back testing option strategies, there are not many companies that have that functionality. About 5 years ago I started writing an options back tester and I can now analyze several different types of trades.

If you're just starting out I would recommend TDAmeritrade's ThinkOrSwim.

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  #3 (permalink)
 salander 
orlando+florida/unitedstates
 
Experience: Intermediate
Platform: TS, TOS
Broker: TS, TDA, TW
Trading: Micros, Options
 
Posts: 14 since Jan 2019
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Take a look at OptionsPlay.com. They have a 1 month free trial and makes equity options analysis easy for beginners.

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  #4 (permalink)
 fxfool 
San Jose, CA
 
Experience: Intermediate
Platform: Zaner360
Broker: DeCarley/Zaner/Gain
Trading: NG,6E
 
Posts: 17 since Aug 2018
Thanks: 29 given, 13 received

For futures options, I think quickstrike is the best. A free, limited version is available through CME.

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  #5 (permalink)
 johnnymustard 
Las Vegas, NV
 
Experience: Intermediate
Platform: NT 8
Broker: NT Brokerage, IQFeed
Trading: ES, 6E & CL
 
Posts: 26 since Aug 2013
Thanks: 2 given, 12 received


UDEFG333 View Post
Hi,

I am a long time Sierra Chart User and recently learning Options.
I would need some advice. I am looking for a best of breed software like Sierra Chart is for Futures, but for Option chains Analysis.

It should be affordable in Price (not some Hedge Fund pricing) and I donít want to use some fancy Broker SW (want to stay independent).

Thanks.
U

OptionsVue.com is probably the most complete and in my opinion the best but it's also the most expensive I'm aware of.
They offer a 14 day free trial and in my experience customer service is very good. I didn't buy it because I don't trade options
enough to justify the cost. OptionsVue DOES offer backtesting, it's the only one I know of.

TradeMonster.com is also great and a LOT less expensive. They got bought out by E*Trade, so you'd need an account with them to use it.
I never went with E*Trade, only used it when they were solo.

You can open a free account (no $$$ deposited either) with TDAmeritrade.com using their Think or Swim platform.

Finally, definitely take a look at TastyTrade.com
These guys created Think or Swim and then sold it to start again. They're not free but they are reasonable.
Excellent educational resources too.

Hope any of this gets you started.
Good luck & good trading, JM

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  #6 (permalink)
 CannonTrading   is a Vendor
 
 
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Posts: 176 since Mar 2013
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UDEFG333 View Post
Hi,

I am a long time Sierra Chart User and recently learning Options.
I would need some advice. I am looking for a best of breed software like Sierra Chart is for Futures, but for Option chains Analysis.

It should be affordable in Price (not some Hedge Fund pricing) and I donít want to use some fancy Broker SW (want to stay independent).

Thanks.
U

CQG Q trader around $70 per month offers some interesting tools for options, greeks, "what if scenarios" and more.
Free trail here.

Our free software E-Futures also have basic options chains, greeks and spreads capabilities.

There are more advanced tools and software as well , all depends on what exactly you are looking to do and trade. Happy to provide more personal feedback if needed.

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
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  #7 (permalink)
 sg72 
Orange County, CA, USA
 
Experience: Intermediate
Platform: NinjaTrader, Fidelity ATP
Trading: ES/NQ/RTY, Equity ETFs, Options
 
Posts: 32 since Sep 2018
Thanks: 32 given, 33 received

Might be worth looking at Capital Market Laboratories TradeMachine PRO.
https://www.capitalmarketlabs.com/products/
They have options back test capabilities and provide a 1 month free trial.

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  #8 (permalink)
Apologetik
Stockton, CA
 
 
Posts: 3 since Oct 2016
Thanks: 1 given, 1 received

I use Hoadley/Excel and python.

Sent from my GM1915 using Tapatalk

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  #9 (permalink)
 myrrdin 
Market Wizard
Linz Austria
 
Experience: Advanced
Platform: TWS
Broker: Interactive Brokers
Trading: Commodities
 
Posts: 1,860 since Nov 2014
Thanks: 3,029 given, 2,531 received


sg72 View Post
Might be worth looking at Capital Market Laboratories TradeMachine PRO.
https://www.capitalmarketlabs.com/products/
They have options back test capabilities and provide a 1 month free trial.

After a short look it is my impression that this tool is only suited for options on stocks, and not for options on commodity futures.

Is this correct ?

Best regards, Myrrdin

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  #10 (permalink)
 sg72 
Orange County, CA, USA
 
Experience: Intermediate
Platform: NinjaTrader, Fidelity ATP
Trading: ES/NQ/RTY, Equity ETFs, Options
 
Posts: 32 since Sep 2018
Thanks: 32 given, 33 received



myrrdin View Post
After a short look it is my impression that this tool is only suited for options on stocks, and not for options on commodity futures.

Is this correct ?

Best regards, Myrrdin


Yes, this is correct.

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