I have created a free option strategies builder app.
It is in testing phase now and I would like to get feedback about this app from real traders before releasing it to production. I request you to install this app and tell me your suggestions and feedback. I will try to add them before production release
App link:
https://play.google.com/store/apps/details?id=com.anand.strategybuilder
Why this app ?
1. This app gives an overview of profit, loss and break even points in the option strategy before trading
2. Max profit and max loss is displayed individually for all the positions in strategy
3. The minimum and maximum range in payoff graph can be adjusted based on our view
4. You can use this app for all types of derivatives - equity, index, commodities, forex, etc...
Thanks in advance guys
Hi Anand,
Just tried your app. I added a spread position and it gave a result with max profit and loss on the position.. (a payoff chart is displayed)
my feed back -
1. It shows a payoff chart with max p&l and p&l at strike level for the overall position on a payoff chart. But what is really important for a trader is to know the
exact profit or loss that could occur on each leg and overall position
when the underlying expires at a particular level. ( Not just at strikes, becuase it can expire any where in between two strikes also.)
For example - I took a long in nifty 14900 ce at 150 and short at 14950 ce at 125. Now the max profit is 25 and max loss is 25 in this position ( and most regular trades can calculate this in mind or paper ). But if nifty expires at 14910 my net p&l would be loss of -15. I need to know this number. In a position which involves multiple legs we cannot do the calculation of potential output (p&L) in live market . This feature really helps.
It would be good if you
add a box to enter the underlying level and the profit or loss is calculated in reference to that level based on entry prices.
2. payoff chart is good to look and feel but for traders numbers are more important to understand p&l. More over data points on payoff charts are limited to strike intervals and hence cannot account to display info to the point when underlying is between strikes.
It would be good idea if you can add ( preferably above the payoff chart ) the p&l in number format for each leg in the position and a net p&l for combined legs in the position for any given specific expiry level of the underlying.
2.1 Based on feed back from Optionwriter - Its really useful to have "Break Even points" also in number format.
Combining above 2, the output should be something like below -
Contract, qty, price are same as in your current format in the app.
Max profit and Max loss is replaced by "p&l" and " Close " is added.
Now as we enter a close value (expiry level) in the box it should give the p&l for each leg that would occur if underlying expires at the given level.
Or the Max profit and loss feature also can be kept the same way and these can be added.
3. Also the app does have any data. You could try get any option data linked to it. If the app has data, users can simply select the instrument and the prices can be pulled from the data i/o manual entries.
Thanks.
