Live option charting software for Australian share market - Aussie Stock Forums

Results 1 to 4 of 4
  1. #1

    Lightbulb Live option charting software for Australian share market

    I was hoping that there maybe some other Option traders out there who trade Australian options and could help guide me on what they consider to be a good charting and technical analysis software with live pricing on Australian shares as well as live pricing on Australian option chains. To give some further background, I predominantly trade options, ie sell cash covered puts and covered calls to generate regular income across several trading accounts.

    I am not looking for an all in one trading platform software package, as I do not believe there is one complete platform that provides the info and the flexibility to trade efficiently. Currently I use ANZ ETrade as my trading platform in which I am happy with as I am able to do all my single leg trades and can also roll puts and calls as required. Currently I am using Bullcharts as my software package with live pricing subscription. It manages my needs but I am trying to get some changes made to it to make it more efficient. It has a well laid out Options page, however all pricing is static and therefore page needs refreshing to monitor price changes. This in itself is not a big issue as you can add the option chain to a watch list which will show prices updating. However, as this feature was added at my request, there are many missing fields and even the description it not large enough to easily and clearly work out which option chain you are looking at when you have several grouped.

    As I am currently studying to gain my creditation as a financial planner specialising in derivatives, I will later need to have many different chains of options saved to various watch lists to allow me to efficiently monitor customers positions. My friend, who is also my derivatives financial planner who is teaching me along the way, uses a software program called Bourse 7 as his software package. It does manage the option chains better than Bullcharts but has many other less desirable attributes. It is not as strong in charting and has other issues with it like being able to save more than 1 default watch list layout. The depth in Bullcharts shows bar graphs as opposed to numbers in Bourse 7 and Bullcharts has a much more user friendly interface (my personal opinion).

    After seeing some of the programs for trading options in the U.S. its embarrassing what Australia has available but I guess the options market here is tiny in comparison to the U.S. Anyway I was hoping that maybe someone out there is in a similar position and may have found a better software interface (considering that I do not require to place trades through the system) - I don't mind to continue to using ETrade as a separate system for placing the trades, as this will later link through to my licenseer account once I am later accredited.

    Appreciate any responses, cheers.

  2. #2

    Default Re: Live option charting software for Australian share market

    Not enough retail in ASX Options for anything decent to be developed. Interactive Brokers options chains are great (best IMO) but they may be having problems with Aussie margin and thus margined-options trading. As you are working in the field, expenses are expected & deductible and have clients, it's easier to use IB or Bourse for quotes and your preferred charting program seperately.

    Do you think it is important to get live intraday charting for selling covered calls/puts ? IMO delayed charts, with a check with your etrade quoting for a live quote to make sure it hasn't moved too much will be sufficient.

  3. #3

    Default Re: Live option charting software for Australian share market

    Hi as I am not familiar with IM (Interactive Brokers) would you know the following?

    Do they offering a software live streaming package in which you can access all live Australian share pricing and options chains in which you can manage option chains in various watch lists. Also I do require live pricing and also require to be able to see the depth on that option as I do require to alter pricing as I may wish to chase up a premium price as the share price increases as I am doing fairly large parcels and every 0.05 to 1c can make a substantial difference to the overall premium received. Also occassionally I will buy an option (Approx 3% of my trades) and therefore the change in option premium becomes more important (as the premium is uncapped and I need to follow the option chain to ensure a timely exit). I find this is best done in the separate application like Bourse or in my case Bullcharts.

    I then use the trading platform to place all trades and this will link in the future to all my clients accounts where I can control the amount of brokerage, etc and will link into to my licenseer account. I only know this because of how my current broker does it for his clients and I am looking to adopt his model. Just was hoping to find a better live charting software package for analysing the data. So as previuosly mentioned I do think Bullcharts has a more nicer interface and I like the graphical depth bar chart but it is not quite as versatile as Bourse in the way it displays the live option chains. They both not quite up to par on what I would like the program to do.

    Any further info you can offer in relation to Interactive Brokers platform and whether it will allow me to reach my goal would be appreciated as I did have a quick look at it before this original post and my initial thoughts was it was an all in one platform that meant you had to place your trades via it and if this was the case this would not work for me due to the restictive nature of it.


  4. #4

    Default Re: Live option charting software for Australian share market

    Best to download the demo and check it out yourself. I am sure you will be very pleased with its live options chains (order books/depths), although their charts I do not find the best.

    ASIC is cracking down on IB for their ASX activities and margin is gimped but covered options may still be fine.

    They have all the advisor/master-client mirroring trades infastructure in place but I duno about legality of that for Australians.

    But ASIC is a big problem, future is looking grim, I think it's just a matter of time before they completely pull out of ASX, like other great brokers in the past (ThinkorSwim).

Similar Threads

  1. What Live data/charting software?
    By warrenatk in forum Software and Data
    Replies: 0
    Last Post: 22nd-February-2011, 03:56 PM
  2. Best charting software for Accumulation/Distribution?
    By homersyd in forum Software and Data
    Replies: 8
    Last Post: 15th-October-2009, 03:16 PM
  3. Technical Charting Tools for Australian Stocks
    By persistentone in forum Trading/Investing Resources
    Replies: 1
    Last Post: 10th-March-2009, 05:40 PM
  4. Charting software for Mac
    By Profitseeker in forum Software and Data
    Replies: 10
    Last Post: 20th-January-2009, 01:31 AM
  5. Software for tracking shares
    By surelle in forum Software and Data
    Replies: 12
    Last Post: 1st-February-2006, 08:06 AM

Tags for this Thread


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Aussie Stock Forums