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Difficulty with Spred Hacker in TOS Scan tab
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Difficulty with Spred Hacker in TOS Scan tab

  #1 (permalink)
Trading Apprentice
Portland, OR
Futures Experience: Beginner
Platform: TOS
Favorite Futures: Options
Posts: 1 since Oct 2015
Thanks: 0 given, 0 received

Difficulty with Spred Hacker in TOS Scan tab

Hi all, I'm new to TOS and having trouble understanding what I'm seeing when I try to do a scan using the Spread Hacker.

For example, I just did a scan with the following parameters:
Mark - Min:0.50 Max: 2.00
Prob of profit - Min: 70% (no max)
Max Profit - Min: 40% (no max)

One result that comes up is a Diagonal spread on symbol AVGO where I would Sell the Mar 16 $75 Put and Buy the Jan 16 $80 Put.

In the scan results, it says 99% probability of profit, 1465.81% Max profit, and 9.907 PL/Margin. My first question is why these numbers are not the same, as I read somewhere that the PL/Margin column was simply Max Profit/Max Loss * 100, or another way to represent the risk/reward ratio.

(I'll post a screen shot of this as soon as I'm allowed - I guess newbies can't do images)

Then I go to the analyze tab and look at the Risk Profile graph. It shows that my max profit is $580 and my max loss is about $524. If I'm doing my math right, that means "Max Profit" should show 110.7% and PL/Margin should show 110.7, is that right?

(Another screen shot showing this when I'm allowed)

It also shows that there is almost a 29% chance that I will lose money (rather than the 1% indicated by the 99% in the probability of profit column).

Do I have something calibrated wrong, or what the heck is going on??

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