Name That Option

[HappyTrader]

Anyone know of a tool or website where you can describe the option strategy, and it tells you what the conventional names for that strategy are?

I.e., you type in:
LONG 100 XYZ
WRITE 1 OTM CALL

And it responds:
Covered Call


(But, obviously, for more complex option types than this).

Thank you.

 

[cdcaveman]

No... but look up options guide or options industry council

 

[HappyTrader]

Yes, I've done that, but its slow going to click through them all to try to find the one that matches and sometimes there appears to be none that correctly match.

 

[cdcaveman]

Ok.. name one that doesn't match

 

[OptionGuru]

Anyone know of a tool or website where you can describe the option strategy, and it tells you what the conventional names for that strategy are?

I.e., you type in:
LONG 100 XYZ
WRITE 1 OTM CALL

And it responds:
Covered Call


(But, obviously, for more complex option types than this).

Thank you.

www.elitetrader.com ET is very good, follow the steps below:

• Select "Options".
• Select "Start New Thread".
• Enter title.
  
• Enter description of option position and what your goals are for the trade.
• Select "Create Thread".

Within hours you newly created thread will generate all sorts of helpful replies. What's even more impressive the service is FREE.

 

[K-Pia]

I know IB gives a name to the option according to its legs. But I don't know for complex options.

 

[HappyTrader]

Yup, I do like the feature in IB that does that but yes, I don't trust it to know all the option strategies and to support complex strategies correctly as far as naming conventions goes.

I suppose there is no such tool available.

Thank you all.