I keep hearing people talk about options software. What exactly is options software? My broker has the usual stuff---lists of stock and options with unusually high volume, high OI, high and low HV/IV ratio, high IV, updated with "big daily change"---they also have a screener that I don't use---is this what average options software would have? Thanks.
Not really. When traders talk about an options software they are usually referring to an option pricing model and position analysis tools, which allows you to perform "what if" analysis on either your exisitng or prospective positions as well provides the Greeks. E.g. what would happen to your long straddle position in 10 days if the implied volatility drops by 200bp, the stock moves up by 5%...