I think it would be nice to have a user configureable module integrated into the trader workstation that graphically models different option positions (straddles, butterflies, combos, etc) profit and loss, greeks, What-if scenarios, etc in real time. It would be similar in nature to the Optionvue software or Hoadley's options software or Think or Swim's new modeling software. As with many of the other features on TWS, the module would be initially turned off for those who aren't interested in it. I think there are many benefits for Interactive Brokers and most importantly for their customers. For beginner to intermediate option traders, I believe there would be great value-added now and in the future since their data feed includes so many option markets (more are being added all the time and more are becoming electronic). It would save money for some people not having to pay for other datafeeds, programs or even tying up money at other brokerage firms just to use their modeling software. It could also save you some money by easily seeing the risk-reward characteristic of the trade and what changes to the different greeks could do to that trade to either make it more or less profitable. I also know that many of you are advanced option traders and have your own software that does this analysis. But even for advanced option users, it might benefit you if you are on the road and only have TWS software around or if you just want to do a quick analysis that you can't do in your head....you could use it to maybe get a quick rough and tumble look at your positions that you have or ones that you would like to take.
This is for Interactive Brokers customers only. If you would like to see this feature added to the Trader Workstation program, then I would appreciate it if you voted for it in their feature poll on their website:
http://www.interactivebrokers.com/en/general/poll/poll.php?ib_entity=llc#cat_cont
It's poll #2402 under Trader Workstation. You can also find it by using the
contributor search function and typing in my user name: nbbo
Thanks,
nbbo
This is for Interactive Brokers customers only. If you would like to see this feature added to the Trader Workstation program, then I would appreciate it if you voted for it in their feature poll on their website:
http://www.interactivebrokers.com/en/general/poll/poll.php?ib_entity=llc#cat_cont
It's poll #2402 under Trader Workstation. You can also find it by using the
contributor search function and typing in my user name: nbbo
Thanks,
nbbo
