Option-Selling Scanning Software

Discussion in 'Options' started by nravo, Jul 16, 2006.

  1. nravo


    Any thoughts or suggestions on software that would scan for theta versus probability or some other metrics that would be useful for option sellers?
  2. Most books have the equation for that...just copy it into excel.
  3. nravo


    Just looked through my McMillians. Nada. Page? Or book name that does have it?
  4. ch. 4 of natenberg's
  5. Gustaf


    You might wanna get the book called "Mathematics of Options trading" by C.B. REEHL.

    This book covers the math to search trades for expected outcome, probability of gain, mathematical advantage etc.

    Iam doing a scanner or more like an autotrader myself in c++ using IB's API.

    PM if anyone wants to share..
  6. nravo


    Thanks for the book cites. Not being a programmer, does anyone know of a commericially available scanner that works with theta : probability or delta?
  7. How do you plan to get around IB's market data lines limitations?

  8. Take a look at the various scanners on www.ivolatility.com

    Also, if you are a www.thinkorswim.com client then their platform has a probability based scanner known as Spread Hacker. The software is free for clients.


  9. Gustaf


    I scan about 10 stocks only, so far it has not been a problem.
    Also its not necessary to do scan everything all the time, its more of a strategic tool.
  10. nravo

    Check with Big Trends www.bigtrends.com/productof.jsp

    About a year or so ago I saw an options scanner they had that seem to work really well. Let me know what you find out.

    They charted the option as well as the underlying which was really great!

    Good Luck

    #10     Jul 18, 2006