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FALSE! RTD works in Excel on Windows machines. From Excel 2003 version thru 2016. No issues! You will also need the origin of the RTD, such as TOS for receiving live quotes. I'm been using in for a few years! I use it many times per day!

Can you enlighten us on why you need to calculate it yourself (rather than use a tool as Robert mentions?) Are the tools available not accurate enough? -- To what precision do you require?

Note, that if a couple of the adjacent near OTM strikes happen to have Zero BID, your ImpIV number can get erratic! Zero bid causes the strike to be ignored, two adjacent zero bids cancel out remaining OTM strikes from the equation. Is less likely on high liquidity options and indexes.

That "ImpVolatility" lower study is a calculated average of different option chains, attempting to resolve to an effective "30 DTE" implied volatility value. (influenced by VIX lovers) Look at the two series surrounding 30 Days, and average with respect to time for 30 days, and the result...

Option Greeks are metrics. Some option strategies are developed to be managed using Greeks, and some are not. The usefulness will depend on precisely what you are attempting to accomplish. Some strategies that ARE managed by Greeks, may focus on a subset of them only, which is a function of...

It seems you wish to engage in high risk trading and have someone protect you from your wayward deeds? Consider how your "desire" would have played out during the Election last November -- likely not what you would have desired. I do NOT trade unlimited risk strategies, so am not the gunslinger...

Why not just open a separate account funded to the appropriate level? Only that 3rd party to trade it! -- Seems there is a trust issue (not disagreeing, but commenting -- perhaps a valid concern)

IMHO: The term "implied volatility" is thrown around like a gorilla "greeting" visitors at a zoo with fecal matter. This gives "implied volatility" a bad rap, but it is a truly useful metric, when used appropriately. To consider more closely, one should determine what volatility, they wish to...

Similar to knowing winning PowerBall numbers in advance! -- For ultra conservatives, you know how much hedge is appropriate (worth big bucks, as well).

I have no experience with the underlying's you are focusing on, so my input may be not be that useful. My interest in similar objectives for SPX options necessitated the problem be addressed in two phases, with the Volatility @ T+0 resolved first, before applying the variations on vol change...

If you re-examine that "Evernote" now, the very end of the note now contains a contact reference! <-- The author is very sharp!

I am NOT the author of that report, I merely passed it on, as it seems to have legs. I am checking back with the author to see if he will permit disclosing his name here.

If all legs expire worthless, then both are the same (position entry collects some premium, if all legs expire worthless, you may keep it)!

Two items to consider: your probability of loss is very high, however, you are correct with the amount of loss (max risk). The position is profitable, if there is a major drop in price (not increase as you inferred). -- Market needs to drop 200 ES points to have a gain/not loss.

Solk: You need to comprehend Kim's statement beginning with "Why is this happening? ..."! It appears you don't understand. This is basic math as Kim clearly stated.

@Kim Klaiman: Your post "seemed" superficial and shallow. I made the assumption the OP has more than a passing knowledge of options. -- I missed that his post included the word CALL --- My bad.

Fascinating response! You may wish to revise. -- perhaps you intended to post in a different thread.

From your post it appears you fail to comprehend the specifics of the original post.

Jack: Can you explain how "Skew" shifts the minimum Theta (for PUTs) lower than ATM? The picture you posted incorrectly implies the minimum Theta is ATM, and we can observe the minimum Theta is at a lower strike than ATM (20-30 points lower on the Expiration identified). It would be...

Good question! I think most of us have not examined the "minimum" Theta point closely to comprehend why it is NOT located ATM, as one would normally assume. This point will change slightly from broker to broker depending on how they derive their Greeks, however, all will have a similar...