Thinkorswim risk profile question

[tommcginnis]

Short answer: Can't get there from here!

A hint (with TOS Analyze) is the selection of a symbol in the upper left box. You have SPX, which is NOT identical to /ES. (seems you desired to observe Both /ES, and your SPX option) Also note that the TOS Analyze function does NOT permit comingling of different underlying's as you may note from the "Positions and Simulated Trades".
It is uncommon (I think) to find "free" PnL analysis tools of Risk Profile that allow evaluating "mixed assets".

Huh! {cue little smiley thing with the whole chin-scratching-looking-up-thoughtfully thing going on...}

Who'da thunk it, with ToS?

Thanks, S&Fit!

 

[raf_bcn]

Hi
Thank you for your response

Also note that the TOS Analyze function does NOT permit comingling of different underlying's

In thinkorswim, Analyze, Positions and simulated trades, select portfolio instead of single symbol. Then it is possible to graph positions with different underlyings.

It is uncommon (I think) to find "free" PnL analysis tools of Risk Profile that allow evaluating "mixed assets".

if you know any analysis tool of Risk Profile, free or not, that allow to do this please tell me.
I like Thinkorswim, well really I haven't tried any other tool. But it is not possible for people in my country to be client of TD Ameritrade.
My broker is IB and I don't understand why IB hasn't a tool like thinkorswim. For me is necessary to graph all the positions, and thanks to thinkorswim i have been interested for options.

all tools I am aware of for this have one (1) X axis! For TOS, they present the Spot Price across the X-Axis

Yes. It might be difficult to put 2 x axis. But in this case we talk about SPX and /ES and the strikes are the same and the strikes goes from 5 to 5, so the x axis is the same. It is not like compare
SPX with GLD or wathever.
So you think it is better not to trust in this graph. The inclination that it is in the grapg isn't real.
For sure there are plenty of stategies that combine diferent underlyings, spx spy /es or other
and I wonder how the people graph their positions.

 

[tommcginnis]

My broker is IB and I don't understand why IB hasn't a tool like thinkorswim. For me is necessary to graph all the positions, and thanks to thinkorswim i have been interested for options.

IB's TWS does indeed have such tools -- half of which come up as screen shots when you submit an order. There are plenty of videos and instruction pages on these (3??) different sets of tools.

 

[stepandfetchit]

Hi
Thank you for your response



In thinkorswim, Analyze, Positions and simulated trades, select portfolio instead of single symbol. Then it is possible to graph positions with different underlyings.



if you know any analysis tool of Risk Profile, free or not, that allow to do this please tell me.
I like Thinkorswim, well really I haven't tried any other tool. But it is not possible for people in my country to be client of TD Ameritrade.
My broker is IB and I don't understand why IB hasn't a tool like thinkorswim. For me is necessary to graph all the positions, and thanks to thinkorswim i have been interested for options.



Yes. It might be difficult to put 2 x axis. But in this case we talk about SPX and /ES and the strikes are the same and the strikes goes from 5 to 5, so the x axis is the same. It is not like compare
SPX with GLD or wathever.
So you think it is better not to trust in this graph. The inclination that it is in the grapg isn't real.
For sure there are plenty of stategies that combine diferent underlyings, spx spy /es or other
and I wonder how the people graph their positions.

I "have noticed" the "Portfolio, Beta Weighted" option for the Risk Profile, but I do not understand what that really does, and have no plausible theory of how that would provide me with useful information. Perhaps my ignorance!
Regarding the single X-Axis, I think I failed to convey to you an issue with trying to compare SPX to /ES. Observe the prices of the two and notice they do not track as close as you may be thinking. {I find adding a "RelativeStrength" Study, and replacing the default with the instrument you want to compare against makes easy work of this} There are (at least) two factors that make these differ. 1) SPX prints the Spot price, while /ES is the Future price for the respective Futures contract (changes depending on which contract term you select). Also, 2) the two can diverge due to market pressure for various amounts of time.
It should be possible to address #1 by replacing the SPX Spot price by the SPX future price (you can compute this). But this will not address #2, which may make the effort unattractive.
You may have better luck by sticking to one underlying (from TOS's perspective), and cobble together a "synthetic" trade to represent what you are trying to accomplish with the other instrument. <-- This is ugly, but may be lowest hanging fruit.
For tools, OptionVue claims to allow some crude mixing of instruments, by simulating a fractional (may only support integer values, I have not tried this) portion of the underlying which is also part of the position. IE, for SPX options, you can add 0.1 SPX (the selected underlying), or short it to reflect what you seem to want. -- I am not recommending OptionVue -- I never got their backtest to work reliably.