Trying to find a piece of software, preferably free, that will allow me to calculate spread margins. My old trading platform used to let me just input an order (e.g. Buy 1 ADZ6, Sell 1 CDZ6) and it would just spit out the margin requirements ($1418/spread)... Is there anything like that out there..??? TIA.
Use Optionsxpress Trade Calculator. It will tell you the margin required for any Options trade. https://www.optionsxpress.com/ Go to the TOOLBOX tab, them TRADE CAL.
Unfortunately, that's only for options.. I'm looking for FUTURES and FUTURES SPREAD MARGINS.. A SPAN calculator.. For FREE!!!! Aren't the best things in life free??
I'm looking for such a free calculator as well. The only one I know of is offered by the CME and it costs $500. Are there any trader/programmers out there like me interested in starting an open source project for this? I think it's a racket for them to charge such a high price for what should be a commonly available tool. I'm putting in a request on Google Answers to see if anyone there can find this tool. I'd even be willing to pay a smaller amount, just not five hundred bucks. The name of the program is PC-SPAN. SPAN is the de-facto method for calculating options margin on futures these days (in America). Also, remember that when your broker quotes you a margin requirement for futures options, this does not necessarily mean it will apply across the board to other brokers, unless of course it was only a SPAN calculation. The brokers can put in whatever extra fees or overhead as part of their own personal calculation that won't be what the exchanges or other brokers may require.
Ok, I just got off the phone with the CME. According to them, there is no other software that implements SPAN other than PC-SPAN, nor can there be since the daily parameter files that are produced by the exchanges (necessary for proper SPAN calculations) are specifically encoded to be used with PC-SPAN. I asked the lady "doesn't that create a monopoly of some kind" and her answer was "not when you have patents." Her second answer was that no one is preventing anyone from basically creating an alternative to SPAN and selling the exchanges on the idea. Ya, like THAT's gonna happen. The only way I can see that happening is if this hypothetical software company was able to convince the exchanges that it is in their best interest to offer this alternative span to their clearing houses/brokers etc, since it is cheaper and more available for us individual traders out there. But why would they want to do that when they already paid their 500 bucks for SPAN? Maybe they are tired of answering margin questions from guys like me that won't spend the money.....or maybe not. Either way it wouldn't cost them a whole lot to use something else.
xpresstrade has a margin calculator but you have to have an account with them. I am not sure though if they are using strictly the SPAN formula.
Here is some more detailed information on the SPAN Margin calculation process: www.SPAN Margining.com
This is an old thread I know, but wondering if in the past 11 years, someone has introduced a free SPAN margin hypothetical calculator for futures and futures options.