Best Option Strategy Eval software, 8 positions?

Discussion in 'Options' started by darp, Oct 19, 2011.

  1. darp



    I have used Hoadley for years

    And got the pay version. Its good, but you can get only 6 positions in it and it only runs on Excel and I am having trouble getting it to run on Win7.

    So am looking for something, either Excel (or even better OpenOfficeCalc) or web based that I can get 8 or more options into it that has Hoadley like functionalty. TOS might do it but am currently at IB.

    Functionality desired would be to manually put in options, hopefully get pricing and chains, but be able to override prices, be able to walk thru day by day to expire date, change the IV, see profit chart, greeks for entire position, etc.

    Free would be nice but willing to pay.

    This Forum is loaded with people that constantly are evaling option positions/spreads etc. so expect the answer is here. I do have up to 8 positions after adjusting spreads etc for one root, so need the extra slots. And if it can suggest how to balance delta etc, even better.

    BTW every time I check a position before buying it, it is worthwhile.

    Thanks in advance
  2. falcon


  3. darp



    Thanks, looking at it.

    Do you prefer standalone or web?

    aslso see there is options oracle there, which do you like most?
  4. darp


    Falcon. The Option Oracle looks good, have put in 10 positions.

  5. Dael


    I would highly recommend TOS platform.
    I've got live account with TOS and love functionality of the platform.
    You can open demo account and get all the same except live price data (it will be delayed for 20 min, which doesn't care for options trading).
    You can get quotes for any options, make demo positions, look at greeks and PL graph.
    One great option which is available for live accounts is ThinkBack - you can dive into any day in past, make orders and look at their PL profile with any speed.
  6. NM, I see you got what you need with OOracle.
  7. falcon


    Was using OO for years, still can't believe it's free.
  8. darp



    Have used OptionsOracle some more. Indeed its amazing its free, its has gads of features.

    Its very professional software, I was wondering if you were part of the group that created it, but see you are not. Whoever did it, thanks.

    Only have encountered one problem which I will report, on my 10 option strategy am long 73 calls and short 63 calls. The profit chart shows huge losses if stock doubles or triples, which of course is not true. I have fine tooth reviewed it 3 times can not find the error. It graphs right in Hoadley if condense it to 6 options by condensing the strikes but keeping the ratio of long and short the same.

    Curious, have you ever encountered a problem like that?

    To another poster that suggested TOS Demo account with 20 min delayed quotes. I might do that, have gone to a couple of their seminars, their software is amazing indeed,

    Thanks to all.
  9. falcon


    I haven't been using it all that much recently except for the graphs and Greeks as I don't trade alot of options these days.

    When I first started using it about 3 years ago everything was fine. Then glitches in prices started to appear every now and then so I would contact the administrator who would email me with updated versions which would fix the problem. However after it started happening more and more the emails stopped which coincided with me not trading options all that much anyways.

    I would also frequent the OO forum which used to also be a good source of information till copious amounts of spam started clogging the board which made it unuseable.

    It's a shame as it has such potential
  10. darp


    Thanks Falcon, will check out the forum.
    #10     Oct 19, 2011