Indicators in OptionStation display values in a spreadsheet type view based on price information on the underlying asset, options, and positions. They can also incorporate theoretical modeled values, volatility data, and bid-ask data calculated by the OptionStation engine.
They are generally made up of one or more plot columns that display the results of the EasyLanguage calculation logic. Calculating and displaying the breakeven point for an option would be one example of an indicator in the options section. The asset section of the OptionStation view has access to historical data and can plot the same technical indicators available in charting, such as MACD, Stochastic, and RSI. The position section can display indicator values based on any option position strategy.
OptionStation will be equipped with hundreds of analysis indicators to help track option positions in detail. Each column in the analysis is an indicator that developers will be able be use to analyze what positions will do under many different circumstances. Here's a sample of just some of the indicators that will be available to examine positions:
- MIV on Bid/Ask columns will display the actual implied volatility for the real-time bid and ask information for all options across all regional exchanges.
Percent To Double will plot the percentage movement the underlying asset must move in order to double the current price of each option.
- Search Call or Put will show the best Call or Put to buy at this moment based on your custom market assumptions.
- Theta relates to time value and will show the expected change in an options price due to a 1-day passage in time.
- Delta will show the expected change in the price of the option contract due to a 1-point change in the price of the underlying asset.
- Covered Call-Put will help analyze covered call or put positions by plotting the simple annual return at current price, simple annual return for maximum gain, probability of profit and probability of maximum gain. By sorting on any of these fields, you can rank the best-covered position for the current asset.
- Probability Calculator will give a look into the mathematical probability that certain prices will occur over a given time frame.
- Maximum Gain and Loss will show at a glance the maximum gain and loss you can expect from any option position.
- Put Call Ratio will give real-time put/call ratios for the options in your analysis.
The following functionality can be incorporated when creating indicators:
Alerts:
Indicators can include user-defined rules to issue real-time desktop alerts and pager alerts. Typically, an indicator is programmed to issue an alert at the occurrence of a discrete event, such as a high or low target price.
Plot Attributes:
The attributes of each of the plots of an indicator can be controlled independently and include: Font, Font Size, Font Color, and Numeric Display.
