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PureBytes Links
Trading Reference Links
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There are two locations for the raw pricing and one for the pricing (Post
1996) and volatility. Neither is a Website and both charges $1,000s for the
date.
Pre 1996 is the U of C Berkley post 1996 is impliedvolatility.com .. the
company that runs the site has all option data post 1996 and does the vol..
work as well.
Bad news is the data for any serious period of time will probably cost
$5,000 to $25,000.
Not my idea.
Alex Jacobson
Vice President
Education
International Securities Exchange
(212)897 8125
(877)720 9918(SKYPAGE)
(847)607 0559 (Home)
ajacobson@xxxxxxxxxxxxxx
-----Original Message-----
From: Ray Raffurty [mailto:r.raffurty@xxxxxxxx]
Sent: Saturday, March 15, 2003 11:46 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: 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
----- Original Message -----
From: Dave Lord <mailto:zdave@xxxxxxxxx>
To: realtraders@xxxxxxxxxxxxxxx <mailto: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
options
chains and prices?
Thanks in advance -- Dave
zdave@xxxxxxxxx <mailto:zdave@xxxxxxxxx>
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