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PureBytes Links
Trading Reference Links
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<SPAN
class=595471920-16032003>Hi Ray, Dave,
<SPAN
class=595471920-16032003>
<SPAN
class=595471920-16032003>I've been using OptionVue for more than a decade,
and also got their "BackTrader" when it came out about two years ago. This
add-on module lets you go back in time and use historical option data from the
company's database, stored at half-hour intervals. Thoroughly
recommended.
<SPAN
class=595471920-16032003><A
href="">http://www.optionvue.com/Modules.htm#BackTrader
<SPAN
class=595471920-16032003>
<SPAN
class=595471920-16032003>Disclaimer: no connections except as a
costumer.
<SPAN
class=595471920-16032003>
<SPAN
class=595471920-16032003>Michael Suesserott
<SPAN
class=595471920-16032003>
<BLOCKQUOTE
>
<FONT face=Tahoma
size=2>-----Ursprüngliche Nachricht-----Von: Ray Raffurty
[mailto:r.raffurty@xxxxxxxx]Gesendet: Sunday, March 16, 2003
06:46An: realtraders@xxxxxxxxxxxxxxxBetreff: Re: [RT]
Website for historical options chains and prices
Hi Dave,
I've been searching for such data for years and
have never found it. The problem is that there are so many data points
to store that no one seems willing to do so. In addition, because of the
nature of options you can not link one series to another (as you can with
futures) and get any meaningful results.
Furthermore you can not take one factor such as
stock (or index) price vs. option price and get any useful result,
options are just to complicated for such simple comparisons. For
example, If you saw a spike in option price, how would you know that it was
not the result of a spike in volatility? I have also seen options spike
up in price on heavy volume without any significant movement in stock
price. This usually occurs prior to a major announcement as volume goes
out of the stock (people just waiting for the announcement) and goes into
options (speculating on the announcement). Dividends
also effect the option price, because they effect the stock price
when they are paid (x-dividend). And there is always the time factor,
all other things being equal, option prices will decline with time
(accelerating as expiration approaches) as the time premium
disappears. Finally you cannot compare option prices from a time
when interest rates are very high (the 90's) to a time when they are low
(today).
There are six factors which influence an option's
price:
1) Stock price.
2) Strike price of the
option.
3) Tine until
expiration.
4) Volatility of the underlying
stock.
5) Current risk-free interest
rate (i.e. 90 day Treasury bills).
6) Dividend rate of the
underlying stock.
The best way to trade options is to first
thoroughly understand the underlying vehicle (stock, index, etc.) what makes
it move and how it will react. Once you have learned this learn how to
improve your trading and reduce your risk with options.
Good luck and good trading,
Ray Raffurty
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
Dave Lord
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Sunday, March 16, 2003 12:09
PM
Subject: [RT] Website for historical
options chains and prices
Good morning!Is anyone aware of a website (or
other source) that provides historical optionschains and
prices?Thanks in advance -- Dave<A
href="">zdave@xxxxxxxxxTo
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