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> I've read so many comments on TS 2000. (mostly negative) I was wondering
how the new OptionStation is? Is it worth the upgrade?
> Thanks, Danny
repost from code list
I spent many many hours evaluating OptionStation. My view is that it's a
product in "no-mans land." Apart from its fragility, it's very much a
totally new product for Omega, it requires a tremendous amount of attention
to detail to do a relatively simple job. Given that one's job is to trade,
the overhead of "real-time maintenance" that OptionStation imposes is just
too great for it to be a real-world product (for me at least).
I've been looking at options software for some time, and interestingly all
the packages endeavor to differentiate by relying on valid real-time data to
show off their smarts. My experience is that so-called real-time bids/offers
on options is stale data. Therefore, the advanced features that one might
pay for with any options software are simply negated. Listening to the floor
and watching the screen clearly exposes this issue.
I don't think its plausible to make decisions based on best-trade
recommendations that are in turn based on stale data. Accepting this as
reality, then one is left with making decisions on theoretical option prices
and try to obtain fills close to theoretical. This can be achieved with
software that costs significantly less and is far simpler to manage than
OptionStation.
Frankly, I think some of the best option strategies available today revolve
around Omega Research losing significant market share. Both Optionstation
and TS2000 have run so far off the rails, that upgrades will undoubtedly
slow and the competition is above the horizon and about to charge down the
hill.
Regards,
Colin West
Englewood, CO USA
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