Good option trading software needed?

M

mizhael

Hi all,

I am using InteractiveBrokers TWS for trading options. However it scatters all around and does not conveniently show at what price I entered and at what price I exited. Moreover, I would like to have more detailed information about my entrance and exit, and the greeks at various time, as well as all the information that can help me choose among options(ATM, OTM, ITM, maturity), etc. This way, I can figure out what decision I should make leading to the largest return/risk, and later I can review if my decision is wrong or correct and hence improve my trading style/strategy.

Could anybody recommend some better option trading software that can do all the above including the analytics?

Thanks a lot!
 
You should first make sure you understand how to use IB's Option trader screen because it is capable of all of the information you asked for and alot more.
 
Quote from mynd66:

You should first make sure you understand how to use IB's Option trader screen because it is capable of all of the information you asked for and alot more.
More...

Correct me if I am wrong. But still there are many things that TWS Option Trader doesn't offer. For example, it doesn't have the "imaginary" scenario analysis, for helping make decisions. Doesn't it?
 
Quote from mizhael:

Correct me if I am wrong. But still there are many things that TWS Option Trader doesn't offer. For example, it doesn't have the "imaginary" scenario analysis, for helping make decisions. Doesn't it?
More...

It allows 'what if' scenarios, but it's extremely limiting, and to me, worthless.

You can buy or sell options to your current position. That's all. You cannot change the date, underlying price, or anything else of importance.

I have begged them to make changes, to no avail.

Mark
 
Quote from mizhael:

Correct me if I am wrong. But still there are many things that TWS Option Trader doesn't offer. For example, it doesn't have the "imaginary" scenario analysis, for helping make decisions. Doesn't it?
More...
Do you trust a vendor for scenario analysis? It's a specific thing; not a canned app.
 
Quote from dagnyt:

It allows 'what if' scenarios, but it's extremely limiting, and to me, worthless.

You can buy or sell options to your current position. That's all. You cannot change the date, underlying price, or anything else of importance.

I have begged them to make changes, to no avail.

Mark
More...

That's why I am asking for a better software, right? Or at least, customize the IB stuff into Excel sheet so we could create our own functionalities?
 
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