Options strategy builder app

[optionwriter]

add one more point with Mohan.sic said : if we take multiple trades like Staddle,strangle we need to know BEP for upper side /lower side so that easily make adjustment when required , (sometimes Numerical view is better than graphical view like payoff chart)

happy trading

 

[mohan.sic]

add one more point with Mohan.sic said : if we take multiple trades like Staddle,strangle we need to know BEP for upper side /lower side so that easily make adjustment when required , (sometimes Numerical view is better than graphical view like payoff chart)

happy trading

Hi, Try to enter a wide range in Min and Max strikes field like marked below.
Then the zero line appears, strikes vertically down are BE points, like in below position 14600 and 15400 are BE points.
(As you said this feature can be improved by displaying BE points in numbers, I just added this point also in my previous post. Thanks.)

Hi Anand,

On above point from optionwriter, I think based on the result of entered Option position the range of strikes ( on X axis ) in payoff chart
should auto adjust to display the break even strikes in both directions, plus at least 2 strikes of profit/loss in both directions.
Yes we can get he BE points in the current app also by filling the min/max strikes field, but reduction of any manual work is enrichment for your app.

At the same time the min/max strikes fields should also be there.

Thanks.

 

[Anandaraj T]

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 -

View attachment 45823

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.

Thanks for your feedback bro

1. Understood. I will add an option to enter expected expiry value. If user enters a value, all the positions will show p&l instead of max profit and max loss.

2. I had a plan to include Break even point, Risk and Reward values. But I dropped it because the calculation for break even point was a bit confusing when the quantities are different in each position. I will include this once I figure out a solution for break even calculation

3. I would like the same too but I don't know where I can get the live data for free.

I will update in this post after I implement your feedbacks

 

[Anandaraj T]

add one more point with Mohan.sic said : if we take multiple trades like Staddle,strangle we need to know BEP for upper side /lower side so that easily make adjustment when required , (sometimes Numerical view is better than graphical view like payoff chart)

happy trading

Thanks for the feedback bro.

I had a plan to include BEP, Risk and Reward values. I dropped it because of a calculation problem when the quantities are different in each position. Most of the calculations are already done and I will update here once I include it

 

[Anandaraj T]

Hi, Try to enter a wide range in Min and Max strikes field like marked below.
Then the zero line appears, strikes vertically down are BE points, like in below position 14600 and 15400 are BE points.
(As you said this feature can be improved by displaying BE points in numbers, I just added this point also in my previous post. Thanks.)



View attachment 45825



Hi Anand,

On above point from optionwriter, I think based on the result of entered Option position the range of strikes ( on X axis ) in payoff chart
should auto adjust to display the break even strikes in both directions, plus at least 2 strikes of profit/loss in both directions.
Yes we can get he BE points in the current app also by filling the min/max strikes field, but reduction of any manual work is enrichment for your app.

At the same time the min/max strikes fields should also be there.

Thanks.

Thanks for pointing this out bro. I will fix it soon

 

[mohan.sic]

Thanks for your feedback bro

1. Understood. I will add an option to enter expected expiry value. If user enters a value, all the positions will show p&l instead of max profit and max loss.

2. I had a plan to include Break even point, Risk and Reward values. But I dropped it because the calculation for break even point was a bit confusing when the quantities are different in each position. I will include this once I figure out a solution for break even calculation

3. I would like the same too but I don't know where I can get the live data for free.

I will update in this post after I implement your feedbacks

1. Max profit and loss values are good to have. Please don't remove feature. My feedback is only for new additions.

2. If you please post a scenario where you are facing confusion, any memebrs here good in that aspect may help.
One more thing on this is, is there any specific reason why you choose the qty as no of lots i/o of actual qty's.
Anyway you have to work according to the lot size in background to get the result. So why not the actual qty like Nifty +75 or -75 i/o +1 or -1,
Also when lot sizes change in future, you need not worry if the field is filled with qty.


3. My suggestion is don't look for free data if you have business plan with this app in future.

May I know what are you plans and why you are working on this app.

 

[Anandaraj T]

1. Max profit and loss values are good to have. Please don't remove feature. My feedback is only for new additions.

2. If you please post a scenario where you are facing confusion, any memebrs here good in that aspect may help.
One more thing on this is, is there any specific reason why you choose the qty as no of lots i/o of actual qty's.
Anyway you have to work according to the lot size in background to get the result. So why not the actual qty like Nifty +75 or -75 i/o +1 or -1,
Also when lot sizes change in future, you need not worry if the field is filled with qty.


3. My suggestion is don't look for free data if you have business plan with this app in future.

May I know what are you plans and why you are working on this app.

1. If we enter a value for expiry, the tables will display p&l. If we remove the expiry value, it will show max profit and max loss like a 2-in-1.

2. I will definitely ask it here as there are many experts in this forum

3. I was looking for free app or websites to build my custom option strategy and analyze the risk in both individual and overall position. Sensibull was there but it doesn't allow me to build my option strategy for free. I checked few other apps too but they are also paid. So I decided to create a free app which is easy to use and helpful for others like me

 

[mohan.sic]

1. If we enter a value for expiry, the tables will display p&l. If we remove the expiry value, it will show max profit and max loss like a 2-in-1.

2. I will definitely ask it here as there are many experts in this forum

3. I was looking for free app or websites to build my custom option strategy and analyze the risk in both individual and overall position. Sensibull was there but it doesn't allow me to build my option strategy for free. I checked few other apps too but they are also paid. So I decided to create a free app which is easy to use and helpful for others like me

3. If it is for analyzing risks and profit from the position, I think you can get the data from nse website option chain which is static link and also I guess Edelweiss has similar option chain in their free platform. Both are few mts delay but should not be a issue I guess.

thanks.

 

[Anandaraj T]

3. If it is for analyzing risks and profit from the position, I think you can get the data from nse website option chain which is static link and also I guess Edelweiss has similar option chain in their free platform. Both are few mts delay but should not be a issue I guess.

thanks.

I have added most of your requests to the app except real time data to get option price automatically.

Break even, Max profit and Max loss will appear below the positions table now.

The app UI needs improvement. I will be working on it in the coming days

Please let me know your suggestions