|
PureBytes Links
Trading Reference Links
|
Option Station is a waste of money, Max. It's "strategy" is not configurable
for the users psychology, and simply picks the cheapest option/high delta
combination for the nearest month (based on your maximum loss
figure)......It's far far better to really KNOW how you want to use the
option....i.e. Are you bullish enough on the stock to buy the cheapest out
of the money LEAPS to flatten out the decay curve? Or what's your maximum
loss on a position if you (say) try an earning date spread and the stock
doesn't move. (It won't be what OS says, because the IV drop will whack the
living daylights out of both sides of your spread)
In other words, it's a lot of money for something that says it'll find the
perfect position for you, but doesn't. It's also a pain-in-the-rear to load
new issues, especially when the options change from LEAPS to monthly, and
you have to key in the new chain symbols MANUALLY.....unbelievable for that
much money.
The CBOE has *free* downloadable software called the Option Toolbox, that
uses the binomial method, and has an excellent explanation for all the
strategies. www.cboe.com It's written by the same company that supplies the
Microhedge software to all the floor traders on the various option
exchanges.
Also, MS 6.5 has a much improved option module that you may already have.
Dick
P.S. I haven't tried the 32 bit Option Vue software, but the old DOS version
was just a notch better than the Option Station......not worth the money
that these people seem to think they can wrangle for these non-competitively
priced products.
-----Original Message-----
From: Max Beer <mbeer@xxxxxxxxxxxxxx>
To: Metastock List <metastock-list@xxxxxxxxxxxxx>
Date: Saturday, February 28, 1998 2:04 AM
Subject: Options software
>I'm considering buying some options software. I wonder if anyone on the
>list has any experience with the following programs or any other
>software, and if they do can they share their evaluations.
>
>Option Vue
>Option station
>
>
>Thanks in advance.
>
> Max
>
|