http://www.hoadley.net/options/optionstools.htm Does anyone have any experience with this tool? I'm looking for a begginning to working with excel.. i thought rather then going through the daunting task of putting together all this work myself.. why not just buy it for 135 bucks.. i'm actually asking for some of you great skeptics to tell me whats wrong with this idea.. Considering i'm with Interactive brokers 1. i have no way to model risk any which way i want.. 2. i can not look at more complex strategies and mess with all the parameters currently i'm using the website power options , and its way to basic considering options actually change vol/price over time! haha 3. i have no way to currently calculate anything of what i need to rreally trade! maybe i'm missing some of the potiential that already comes with IB but it doesn't seem so .. here is a simple list of features.. on this page http://www.hoadley.net/options/OSETPremium.htm Premium Feature Description Advanced time and volatility modelling Simultaneously display "profit if closed" on payoff diagram for five dates prior to expiry. Dynamically model impact of future volatility changes on profit by clicking spin buttons. Payoff diagram adjusted with each spin button click. Breakeven analysis Show all breakeven points for six discrete times slices prior to, and including, expiry, and the probabilities of falling within each of the breakeven ranges. The total probability of profit and total probability of loss are also shown for each time slice. Dynamically model the impact of changes in volatility after the deal has been entered into, on breakeven points and the probabilities of breaking even, by clicking a spin button. On-line option chains One click strategy suggestion and strike/expiry evaluation Quotes from option chains Retrieve complete option chains from various free on-line sources, and from a number of real-time data feed providers and select trades from from available options by a simple point and click. Automatically suggest an initial set of options for any given template strategy (eg a strangle or bull spread) with one button click. Using a suggested strategy as the starting point, step through an entire option chain evaluating a given strategy for all strikes for a given expiry date, all expiry dates for a set of strikes, or both. Update the underlying asset price and all trades in a strategy with with the latest prices at any time with one mouse click. Underlying asset quotes Retrieve underlying asset prices from Yahoo Finance or from any other source which can deliver quotes to Excel spreadsheets. All the streaming quote providers supported by the Finance Add-in for Excel can be used in OSET for real-time underlying asset quotes. Percent to target analysis Show for each option trade in a strategy the change in underlying asset price required to produce a user-specified change (positive or negative) in option price. Percent-to-double is one example of this analysis. Strategy dissection Show the individual trades of a complex strategy separately, but together on a single payoff diagram to enable each trade's contribution to the overall strategy to be more easily understood. Automatic position hedging Automatically adjust strategies to achieve target neutrality outcomes with two mouse clicks. A strategy can be made delta neutral, delta and gamma neutral, vega neutral, delta and vega neutral, or delta, gamma, and vega neutral. Backtesting Backtest by stepping through strategies from deal date to expiry using actual market data. Data can be a price history of the underlying only or, if available, the underlying plus option histories. 3D Payoff diagrams View Payoff diagrams in three dimensions showing profit or position Greeks simultaneously by underlying price and time to expiry. Payoff diagram can be dynamically rotated using spin buttons for better viewing of complex payoff surfaces. Greeks by trade Show Individual and position Greeks next to each trade for current underlying price (only individual delta available in basic version). Position Greeks shown for entire strategy (no position totals in basic version). Additional trades/legs Use up to ten option trades per strategy (vs five without premium features enabled). Sentiment indicators Calculate open interest and current volume put/call ratios for specified months using on-line option chains. Produce open interest configuration charts showing open interest for puts and calls by strike. Open Positions Manager (OPM) integration Import open positions from the Open Positions Manager (OPM) into OSET with one button click to model the impact of various alternatives on strategies entered into some time in the past. Dynamic graph scaling and centering Scale and center the payoff diagram by clicking spin buttons. Integrated historical volatility calculator Retrieve historical data and calculate historical volatility using the sohpisticated GARCH and EWMA models. Probability analysis Show the probability of hitting underlying asset targets. Probability curves are superimposed on the payoff diagram for each strategy to enable the probability of hitting key targets, such as breakeven and maximum profit/loss, to be viewed in the context of strategy payoffs. Both "end of period" and "any time prior to expiry" probabilities are shown. Probabilities are shown both graphically and in table form. Probability cones Show graphically the probability of falling between various asset price bands at various maturities. Produced for both "at end (expiry)" and "any time (touching)" probabilities. Changes in key variables (volatility, dividend yields etc.) can be dynamically modelled. Enhanced financial analysis Calculate expected returns for a strategy (return for period and annualized ROI) for any user-selected underlying asset price. Retain all data when moving to a new version of OSET Export all your current saved strategies, underlying asset data, and settings, and import them into a new version of OSET with two button clicks. (In the basic version your saved strategies cannot be moved to the new version of OSET and all data would need to be re-entered manually).
I use Hoadley's tools. They are very helpful and well designed. The excel finance add-in provides convenient functions when building your own stuff. Fairly inexpensive as well.
yeah well i just am not very fluent in using it yet.. i'm soooo frustrated.. I haven't been able to add instriments to the strategy evaluation tool via my IB data.. blah
thats the thing you have to be able to mess with all the assuptions in order to model trades.. most of all these online deals don't allow you to change volality assumptions and have strategies with more then three or four legs..
Options Oracle is currently dead, for my uses. It won't connect to the CBOE server. And their forums are now rampant with spam. I really miss the "Total 1 Month %" box, for comparing different options. Is there some other software/website that will [easily] give me a current Return % ? I signed up with Otions Xpress, but I can't find a tool there that will do this simple thing. Even something with delayed quotes might work. I could probably figure out the return % math, but I want something relatively fast, like Otions Oracle. thanks marc
i wanted a tool that i could mess with every assumption.. thats why i got hoadleys thing for 130 bucks.. i've been looking for other things that are a little more intuitive to use... but i'm figuring in the long run i'm going to have to become fluent with pulling data into excel and graphing it 6 ways from sideways.. my only thoughts are use trade station or think or swim .. they seem to have alot of options graphing stuff.. . get excel going with hoadley.. or i'll keep looking.. trust me i'm going to find something.. only cause i'm not going to stop looking
When you've used it for awhile, would greatly appreciate a first hand review. I am looking at options and that includes a reasonably priced tool like this. So far on paper at least it seems to be the best value for money.