What option software do you use and why? What are the best option software platforms available? What are the pros and cons of each? What are the price ranges for them? I know there are ratings in the software section, but most of them are outdated. Just trying to get a feel for what people are currently using, and which platform I should get. Any info/advice would be much appreciated. Thanks.
i assume that's what you meant by "platform." drawbacks include startegies limited to two legs, and constant nickel and diming for data and/or scans. cost - i forget but i think around 1000. plus 600 a year for volatility data Plus 50 a month for option price data PLUS 50 a month for scans.
Here is my two cents worth on this subject... People who are new to options get bombarded with all this hype about purchasing some very expensive software and then all of these "add on" services to help them scan, etc, etc... Other people fall in love with the idea of knowing all of their "Greeks" for each position and believing that all of these numbers are 100% accurate, which they most likely are not...For instance, with alot of options you have big spreads...Those spreads alone completely complicate any theoretical options values that most people will calculate as their position risk... My opinion is that, unless you are tracking dozens of options positions, you probably do not need to get involved with OptionsVue and their pricey software...Some people on here are doing some form of dispersion trading and trading subsets or "baskets" against the index options...For them, it would probably be worth the price, because the calculations are too tricky and time consuming otherwise... Interactive Brokers already has a decent position risk analyzer embedded in the software...For simple calculations, this is fine and it already has the actual positions loaded, so it is not necessary to input...
I have tried a lot, but the very best option software I have used is called "OSRT3" created by a floorguy (who has retired since). It used to be available from his website (www.bayoptions.com) Try to get a copy of it. Does eveything what OptionsVue can - for a lot less. Volatility data, real time scans based on ANY strategy (you can write your own strategy), very very flexible. Works with free/delayed data from the CBOE or QCharts/eSignal real time. Just my USD)0.02
Tried to visit website (www.bayoptions.com) but it says error, any opinions when this site will be available?
Unfortunately the website is gone, everything is gone and I am chasing this prog without any success. No offers on e-bay or elsewhere. Living in Europe this hunt is specially difficult. Anybody prepared to sell? Hittfeld
3 Question for traderbambu and fsoft22: Which datafeed do you use with OSRT3 ? Which ones are possible, eSign and IQfeed? Are you using DDE or Universal Market Data Manager? Thxs in advance and kind regards Hittfeld
Living in Europe satellite- and FMfeeds are not available for me. Which options remain and work with OptionSimulator/RT? RealTime by internet or delayed? Which version is required? Thnx in advance Hittfeld