Options trading tools

nerdzkilla · 29 November 2011

Hey Sorry i have a few questions here regarding options trading..

1. does anyone in here know of a tool that generates payoff diagrams for different option strategies such as Collar, Straddle etc? Nothing too expensive. I will most probably just be looking at it once a week.

2. do you know of a tool that generates ADX, +DMI, -DMI indicators for a stock? I am with commsec and there is no ADX in there?

3. An account that doesnt charge too much for brokerage? At commsec i have been payin 35 dollars for small trades. Being a noob at options i want to trade small and so avoid high brokerage costs.

Any advice, suggestions would be greatly appreciated. Thanks

sails · 29 November 2011

nerdzkilla said:
Hey Sorry i have a few questions here regarding options trading..

1. does anyone in here know of a tool that generates payoff diagrams for different option strategies such as Collar, Straddle etc? Nothing too expensive. I will most probably just be looking at it once a week.

See if these sites are what you are looking for: http://www.hoadley.net/options/options.htm
and: http://www.samoasky.com/optionoracle-image/

2. do you know of a tool that generates ADX, +DMI, -DMI indicators for a stock? I am with commsec and there is no ADX in there?

You could try Incredible Charts: http://www.incrediblecharts.com/
Also Big Charts (it is necessary to type "au:" before an Australian stock code (eg au:bhp) and use the "advanced charts" for DMI: http://bigcharts.marketwatch.com/

3. An account that doesnt charge too much for brokerage? At commsec i have been payin 35 dollars for small trades. Being a noob at options i want to trade small and so avoid high brokerage costs.

Interactive Brokers is hard to beat on price - there are threads on it here at ASF. If selling options, just make sure you know and fully understand the ramifications of being assigned short calls x-div and also know and fully understand exactly how IB handle assignment on short options IF there is insufficient funds or shares in your account (depending on call or put assignment).

PS - none of the above is a recommendation - just some information for you to decide if it is useful to you.

nerdzkilla · 29 November 2011

sails said:
See if these sites are what you are looking for: http://www.hoadley.net/options/options.htm
and: http://www.samoasky.com/optionoracle-image/

You could try Incredible Charts: http://www.incrediblecharts.com/
Also Big Charts (it is necessary to type "au:" before an Australian stock code (eg au:bhp) and use the "advanced charts" for DMI: http://bigcharts.marketwatch.com/

Interactive Brokers is hard to beat on price - there are threads on it here at ASF. If selling options, just make sure you know and fully understand the ramifications of being assigned short calls x-div and also know and fully understand exactly how IB handle assignment on short options IF there is insufficient funds or shares in your account (depending on call or put assignment).

PS - none of the above is a recommendation - just some information for you to decide if it is useful to you.

Thanks so much!!

Trojan · 1 February 2012

Steer clear of options. As Warren Buffet states "they are weaponos of mass destruction".

ROE · 1 February 2012

Trojan said:
Steer clear of options. As Warren Buffet states "they are weaponos of mass destruction".

You obviously know little about options and Warren Buffett
Options is a very good tool if you know what you are doing..

ROE · 1 February 2012

nerdzkilla said:
3. An account that doesnt charge too much for brokerage? At commsec i have been payin 35 dollars for small trades. Being a noob at options i want to trade small and so avoid high brokerage costs.

You want to sign up with someone else if you want to trade options, comsec options is really not designed for small trade, thought their collateral stuff is pretty good, they take your stock holding for collateral so you don't need to put up cash

but mob like interactive brokers need cash for margin but they charge smaller fees
something like a few bucks compared to comsec $34.95 each way ....

Hopefully with more competition cost will come down to place like comsec ...
they already dropping their margin from 2x ASX to around 1.5x ASX requirement.

Joules MM1 · 23 May 2012

Options/Futures
CBOE Special Feature: VXN Futures Debuting Today
By Jill Malandrino

http://www.thestreet.com/story/11549801/1/cboe-special-feature-vxn-futures-debuting-today.html

excerpt

Russell: Today the CBOE Futures Exchange, LLC (CFE) will launch trading on CBOE NASDAQ-100 Volatility Index(SM) (VXN(SM)) futures contracts. VXN is a key measure of market expectations of near-term volatility conveyed by NASDAQ-100 Index (NDX) option pricing. The structure of the futures contracts is the same as those on the widely followed CBOE Volatility Index ® (VIX). Initially there will be only four consecutive monthly contracts listed which differs from VIX futures which have contracts with expirations trading for the next nine months.

Options trading tools

nerdzkilla

sails

nerdzkilla

Trojan

ROE

ROE

Joules MM1

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