Hi all, I was wondering what peoples' experiences have been with various free/paid options analysis software packages. I could not find anything relevant in the trading software forum, so I thought I'd post here. I'm trading on IB, which doesn't offer much, unfortunately, and would rather not move to TOS since I run various other strategies other than options that IB handles quite well. At the moment, I'm using Options Oracle (a free program) which works well for single underlyings, but has no functionality for multi-underlying setups. It would also be nice to have a program that automatically suggested different adjustments within certain parameters when hedging a position (okay, I'm lazy like that). =) In the 'software' section of ET, I notice that there are a few dated but glowing reviews for OptionVue, but it looks a bit pricey. I'd rather hear from a few folks with recent direct experiences using these types of packages before dropping that type of coin. Thanks in advance for any advice
I'm using the same: IB as my broker, Optionsoracle for strategies. It's a shame IB doesn't have decent software for option strategies. The TOS platform looks cool, but way too expensive for trading options (certainly compared to IB).
OptionsHouse has a nice free tool for suggesting strategies, although only some of what I'm interested in.
I use the trade platform on Trademonster. I like it, and there is a lot of information provided. I actually trade through them, but I think you can get full functionality opening a free demo account, so you could at least play around with the platform.
Funny you ask. I was sniffing around for reviews on Peter Hoadley's products of hoadley.net. Option trading isn't main focus at the moment as I'm pursuing other approaches. Price is inexpensive & product is excel based. I was never quite happy with my current means & methods for analyzing HV & IV prior to putting on a trade and then analyzing to better understand how that position would reacte as vol or the underlying moved. The hoadley package looks like it fits the bill. I just like to hear other people's experiences & reviews prior to purchasing any product or services. Anyone out there have any experiences with hoadley.net? J-Law
FWIW, www.hoadley.net www.optionseducation.org www.strategies-options.com www.margrabe.com provide free online pricing softwares. www.hoadley.net www.optiontradingtips.com www.strategies-options.com To get option strategy spreadsheets
Thanks for the suggestions, all. I want to recommend Options Oracle to those who have not used it. I would say that it's probably the best free options analysis software available but it doesn't seem to be supported anymore, which is a shame.
Since I use Options Oracle at least once a week, I sent them a [small] donation. I wish it were more up to date [supported], but it's still useful. marc