Options Software Requirements

[inkosis]

Hi all,

I'm new to options trading, and am currently using IB for my trading.
Just wondering if there is any particualr options charting/trading software that is recommend.

I've got track n trade but thats mainly for futures,.
I've seen tradestation 2000i, esignal, & metastock mentioned alot on the fourms, can these be used for options, or is there another software i should be looking at.

Thank
Sam

 

[RogerM]

Sam - welcome to the Options forum. You may find it useful to have a look at the T2W Guide to Options as a starter.

http://www.trade2win.co.uk/boards/showthread.php?t=8414

What are you looking for the software to do? Which markets are you trading? As a bare minimum I think you'll need some s/w that will draw pay-off diagrams for you, calculate the greeks, and provide an easy method of showing any hedging requirement. Why not try the freebie from Peter Hoadley (link in the Guide) as a starter and then see what else you need?

 

[Marc100]

Hi Sam,

Metastock has a built in options package called Optionscope which will draw pay-off diagrams, calculate greeks etc. Pretty basic.

The Peter Hoadley software Roger mentions is far superior and free so I would go down that route.

Top end would be OptionVue software but with a top end price to match.

Regards.

 

[belinea03]

Hoadley's software is very good but is limited to 5 option legs and 2 stock entries. This can be problematic when adjusting positions, rolling into a number of months or entering trades with 6 legs or more.

 

[JayF_eSignal]

eSignal has a wide spectrum of tools available for options traders ranging from a standard option chain to advanced options analysis with Options Plus. If you have any questions, please feel free to let me know.

 

[Robertral]

Just use excel......well easy with a bit of VB

 

[RogerM]

Robert - my Excel programming certainly isn't up to it, and why bother when the free Hoadley model, with it's continuous improvements, runs in Excel?

 

[inkosis]

Excellent, thanks.

Been doing some research of my own and found a couple of software that might be useful. I can't really evaluate them since i don't have the expertise yet. But i would be intrested in your comments.

I put up links to them, on monday, when i back in the office.

sam