Hi, I looking for an option analysis software. Primary usage is to analyze positions in order to adjust risks (greeks etc..), back test and search for trades. Any suggestions? I have looked at OptionVue. Also saw Dan Sheridan used a proprietary software in his seminars. Any idea if that's good?
I have been using OptionVue for many years. I like it. Decent analysis software. Good back testing and scanning capabilities. A bit pricey though. Sheridan's software isn't really a full featured analysis software. It's more of a learning and teaching tool for his student. I know someone using it and I've tried it. If you trade the way Dan teaches, this would be a good tool. But if you don't and if you want more advance features, this is not the tool for you. I found it quite limiting - doesn't come with scanner for trades, no IV modeling.
I see what you mean about the Sheridan software. I know a guy who has it and l tested it out. Agree - it does feel like a learning tool. No options scan. Very basic IV analysis capabilities. Can't do much other than putting on a trade and track how it performs through time. My friend uses the software to capture his trades so that he can discuss with his mentor and to back test strategies he learned. Certainly not the options analysis software I'm looking for. Anything else I should evaluate?
I own OV7 but I stopped updating it every year,I find it extremely expensive to run and find the after sale support the worst I've come across from a company promoting their product. After many emails and filling out an online complaint on their own website trying to get a fix for an Access Violation that keeps popping up when I start OV7,this problemhas been ongoing now for over 3 weeks and I can't seem to get anybody to respond and fix this annoying problem. This is pretty poor considering that if you want to run their software as they suggest,you'll be up for: 1.Purchase cost 2.Backtrader 3.Opscan 4.Data If you want any of the above options you need to subscribe to them each year I'm now searching for a free online options analysis software,anybody have any sugestions?
A lot of the Hoadley option tools used to be free. Not sure anymore, tho. Check them out here: http://www.hoadley.net/options/options.htm
I have been using Thinkorswim (TOS) to trade options and I like it a lot. It is arguably the best options software on the market today, especially considering the fact that it is free. You can try for free with a paper trading account for 2 weeks or something like that, and it is free going forward if you open an account with TDA. The support of pretty good, too. Plus, the TOS team runs what they call Swim Lessons every day for 3 hours while the market is open. They are especially useful for beginners.
Laterst update. It seems after finally getting a long overdue response from OV7 that they are not prepared to help with an Access Violation that pops up when i start their software unless I subscribe to their Star program for 12 months @ $399.00 per year.I am not interested in getting the latest features,how it worked in the past is all I'm interested in and I feel one should not be blackmailed into purchasing upgrades. I also own AmiBroker which hasn't been upgraded for some years but if I have an issue with AB they at least respond timely with a fix
there were some problems running OptionsOracle on the Windows 7 platform, I think, including me... runs fine for me on my Windows Vista laptop though I don't believe it's been updated in quite a while marc