Check out this Options Strategy Analysis Website - The Options Lab at http://www.theoptionslab.com/ The Options Lab provides dynamic charting to analyze risk/reward for any chosen options positions.
I agree, it looks like a great tool, and it's free !! I played with it a bit but would need more explanations, I'm not a pro yet... I think it would be a great thing to have somebody with knowledge and experience post a "how to" use this tool. Explaining how to fill it up properly and what all the things on it means. From a newbie perspective, this tool seems to be in line with DMO's video about IV. It could be a good idea if DMO would like to do a "how to" video about how to use this tool to confirm if a particular option is worth buying or not. What do you guys think... Patso
Hi Patso, Does it ever occur to you that DMO and others cannot just supply such videos for every newbie's pet project. This takes time and effort. Have you considered offering to pay for someone to construct a video for your pet project? Just asking. Mark
What are you talking about DAGNYT!!! Why are you turning this around and making me look like the bad guy here!!! Maybe I express myself the wrong way, or you missed the point I'm trying to make here, but why are you so negative about my post...!! I'm just making a suggestion... All I'm saying is that having a "how to" for this toll would be a good thing for everybody who want's to know and understand more about this tool and how to use it, that's all.. And I'm sure it would be useful to a lot of people, not just me... I know and understand that it takes time and effort to do these kind of educational video, or a PDF document or whatever else... But DMO posted 2 educational videos so far. He made them voluntarily and posted them for free on his web site.... Nobody forced him to do it. He made them I guess because he wanted to help people out that's all.... So I don't understand the point you're trying to make and why you're so negative about my post.... The whole point about a forum in the first place is to exchange ideas and try to help each other out... Patso
OK. Perhaps I was too harsh. I apologize. But the guy who runs that site posts here at ET I think his ID is pengw. Why not ask him to help promote <b>his</b> site by telling all of us how to use it? DMO shares plenty. I don't think it's realistic for him to spend his time and effort to promote a site that someone just discovered (I'm not familiar with it). I didn't read where you said that was fantastic - a 'must-use' site and everyone should learn about it. You do not yet know how useful it really is. Nor do I. Just a suggestion: Why don't you learn all the details and report back? Mark
Pasto-- So far, you only contributed 2 postings to ET-- one of which suggesting what other should do. So how about making some real contributions to ET- BEFORE you are asking/suggesting to others what to do. So don't be surprised if from now on -- contributing members will have a 'jerky' view of you! Please do not be offended by this--think of it as a freebie lesson. BBen
I posted the original link. To use the options lab, if you are online, just click on the online tab, then enter a ticket such as 'rimm' or 'qqqq', then the Lab will do everythng for you. You can choose any strategies on the left hand side, the right side will reflect what you just selected. try to change dates and IVs and stock prices to see how the position play out, hit exp to see how the position looks like at the expiration date. hit hit quick gain to see what the gain will be if everything goes to your way once you place your order hit quick loss to see what the loss will be if everything goes against your way once you place your order hit shift -a ( A) to see what gain/loss if underlying goes up or down from 0 to +/- 40% Modify the upper right sections to design your options strategy Hit lower right corner to get instructions. From entering the ticker to get what you want should not be more than 3 clicks away. All in one screen.
can i get symbols from the TSX (Canadian exchange?) it didn't work for me. if this did, it would be awesome.
Really the tool isn't all that hard to use. Use the instructions block in the lower right hand area (numbered 1 - 7) with each block representing an area of the tool and an explanation of each area will be given.