Pricing Models are the heart of the OptionStation® engine. They calculate the raw implied volatilities used by the Volatility Model, and the theoretical option prices, and Greek risk values. Included Pricing Models that can be used as is or modify include: Black, Black-Scholes, and Binomial.
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They process each option in the option chain loaded into the OptionStation® view in what is called the option(n) array. By referencing each option by its (n) index number, you have EasyLanguage® access to strike price, expiration date, option type, and regional exchange information for every option. Custom pricing models can be created for exotic option products, financial futures, or to just experiment with improving the traditional models.  The Pricing Model will set the following keywords available to be plotted by the OptionStation® indicators: Theoretical Value, Delta, Gamma, Theta, Vega, and RHO. Internal to the Options Analysis Engine, the Pricing Model also sets: MIVonClose(Market Implied Volatility), MIVonRawBid, MIVonRawAsk, and MIVonAsk MIVonBid (which is the implied volatility of the Smart Bid and SmartAsk value.)The Pricing Model will set the following keywords available to be plotted by the OptionStation® indicators: Theoretical Value, Delta, Gamma, Theta, Vega, and RHO. Internal to the Options Analysis Engine, the Pricing Model also sets: MIVonClose(Market Implied Volatility), MIVonRawBid, MIVonRawAsk, and MIVonAsk MIVonBid (which is the implied volatility of the Smart Bid and SmartAsk value.)
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