I figured it's 2024 and by now in the world of finance and trading especially in a world hyped full of ai, that they would have a simple calculator to determine where your current profits and losses would stand on simple option roll overs, but nope...nope nope nope.... Not even the brokers I use have this simple tool. Now there is no way I could be the only one searching for this holy grail..... so does anyone here who trades options knows where I can find the most perfect and most beautiful options roll over calculator the world has ever seen?????...
I do it with a spreadsheet. Rolling was designed for this exact purpose...to confuse traders. Just track pnl to close the position and then you open a new position. I guarantee most traders don't know if they made or lost any money until they do their taxes...brokers do their best to make it as ambiguous as possible. Most dont track b/e at all...just the avg price but not including premium paid or received. Like if I get assigned on one broker they only use the strike price ..but on another broker they include the premium when calculating avg price, but only for the current trade so basically useless. Open positions Closed positions Net Premium That is all a trader needs to know and none of them provide it up front.
Why would you roll if you are above the water, just let it expired and open a new one. if you are under the water, most folks will roll to break even in the future dates, perhaps many weeks into the future.
Sometimes to roll into another contract on Friday expiry because closing a .05 or less doesn't have fees or something.
Yes I have seen some the excel layouts however just a simple calculator from the broker would be so much easier. I rolled a handful of positions and while the first option trade is easiest to figure out after a few rolls you need to sit there and figure out net credits debits and add subtract from the daily movement of the daily option to see where your overall positions are either red or green. There should be absolutely no need for this in 2024. I csnt even get a cost basis on the actual trade if I'm assigned. It will only show up after the trade has gone through on the unrealized report that I have to call up and ask for. It's not cool these brokerage houses are making it extremely difficult when it could be implemented with a few engineers writing some simple code.
Im.rolling because the last few times I'm under, so far all of my rolls have worked, these last 2 I'm rolling may not and if they dont I'll take the assignment along with the net credits I have gained along with each roll I have placed. So far with one roll I have collected around 10% of the value of assignment if I am to buy the stock at expiration, which I may roll out once again.
I hear you,know where you are coming from,but "who cares" about the roll.... What I am saying is you are managing your current position, i.e the Greeks... Once you roll,it's an entirely new bet that stands on its own. Im assuming you have levels where you adjust or close the position based on whatever voodoo one chooses. Where and what priced you rolled at is meaningless.
I know, it's ridiculous and by design. A home spreadsheet should not keep better track of your trades than a professional brokers platform.
100% agree, but it's the way retail punters, particularly the TastyTrade variety think, that they will keep rolling losing positions until they get back to breakeven to soothe the ego and need to be right ... Sosnoff is willing to roll for years just to get back to breakeven ... which inevitably ties up capital that could be deployed in better opportunities The 2 aspects of my trading platform that I deliberately designed, really like, and psychologically were a game changer are - I have no record of the original price of any trade, just cumulative P/L on all trades - Positions are all valued at current price, and forces decisions to be made wrt current price and not some historical cost basis
Original price column. The first thing removed from the trading page on a new build of TDA/any front end. WTBF is a rollover calculator?