I am already learning a ton from the option forum. I got a couple of more things to ask for your advice. What is a good place to get real time data feed as well as historical data for backtesting? I use IB, but get historical data thru API with IB is a pain in the butt. I use MATLAB through a JAVE API for IB. For stock and future feed, right now I use Esignal with QCollector to get data in nice bar format before reading them into MATLAB for analysis. Is there anything similar to that for options? Also do you guys use some kind of option software (like OPTIONVUE) or write your own? I do most of modeling with MATLB but having quick EXCEL / spreadsheet looking software to have a quick look at the portfolio positions / risks will be nice. njrookie