Interactive Brokers TWS Option Modeling Program Feature Poll

Discussion in 'Trading Software' started by nbbo, Apr 12, 2007.

  1. nbbo


    I think it would be nice to have a user configureable module integrated into the trader workstation that graphically models different option positions (straddles, butterflies, combos, etc) profit and loss, greeks, What-if scenarios, etc in real time. It would be similar in nature to the Optionvue software or Hoadley's options software or Think or Swim's new modeling software. As with many of the other features on TWS, the module would be initially turned off for those who aren't interested in it. I think there are many benefits for Interactive Brokers and most importantly for their customers. For beginner to intermediate option traders, I believe there would be great value-added now and in the future since their data feed includes so many option markets (more are being added all the time and more are becoming electronic). It would save money for some people not having to pay for other datafeeds, programs or even tying up money at other brokerage firms just to use their modeling software. It could also save you some money by easily seeing the risk-reward characteristic of the trade and what changes to the different greeks could do to that trade to either make it more or less profitable. I also know that many of you are advanced option traders and have your own software that does this analysis. But even for advanced option users, it might benefit you if you are on the road and only have TWS software around or if you just want to do a quick analysis that you can't do in your could use it to maybe get a quick rough and tumble look at your positions that you have or ones that you would like to take.

    This is for Interactive Brokers customers only. If you would like to see this feature added to the Trader Workstation program, then I would appreciate it if you voted for it in their feature poll on their website:

    It's poll #2402 under Trader Workstation. You can also find it by using the
    contributor search function and typing in my user name: nbbo


  2. nbbo


  3. I'm not sure which "new" modeling software from Think or Swim you are referring to. I'm aware of only one platform that has been around for several years. Admittedly, with regular updates - but the core remains the same. Are you referring to something else?

    In any event, I think you'll need to be more specific about your requirements if you want IB to take it seriously.

    There is already "what-if" functionality available in TWS via Option Analytics and Portfolio Analytics - I predict, that is what IB will reply with. However, there are only options to move volatilities up or down 15% and move time forward by one day.

    Improvements could be started with the allowance of free form adjustments for volatilities and time. This is a specific improvement request.

    If you can come up with a list of concrete specific improvements or features such as that, I think you'll have a better shot at getting them noticed by IB.
  4. nbbo


  5. Moreagr


    Yes I agree having HV and IV along with the greeks that would be shown on the data line or in the api.. open interest as well and not to mention TIKI and better scanning and alerts options.

    this is in great need

  6. nbbo


  7. nbbo


  8. rayl


    So upon reading this thread, I explored Portfolio Analytics in TWS for the first time to get a guage of where it stands. Today I use my own Excel spreadsheet with a bunch of calculations, etc., to get my own estimate of VaR and greeks from various data sources put together.

    Is it just me or does the VaR summary screen in Portfolio Analytics not work for everyone else? I get a blank, and if I hit Refresh, it says Querying dependant data and never finishes.

    If I construct a what-if portfolio one ticker at a time, I find that the following tickers will cause VaR summary to say query failed:

    Toronto: RVX

    That's at least one bug.

    But if I create a new what-if, do a copy from My Portfolio, and delete these two suspect tickers... VaR Summary is still blank and hitting Refresh says Querying dependant data and never finishes.

    Seems like this area, even with the functionality it's trying to achieve today, needs work?
  9. nbbo