Options Software Requirements


Junior member
Hi all,

I'm new to options trading, and am currently using IB for my trading.
Just wondering if there is any particualr options charting/trading software that is recommend.

I've got track n trade but thats mainly for futures,.
I've seen tradestation 2000i, esignal, & metastock mentioned alot on the fourms, can these be used for options, or is there another software i should be looking at.



Established member
Sam - welcome to the Options forum. You may find it useful to have a look at the T2W Guide to Options as a starter.


What are you looking for the software to do? Which markets are you trading? As a bare minimum I think you'll need some s/w that will draw pay-off diagrams for you, calculate the greeks, and provide an easy method of showing any hedging requirement. Why not try the freebie from Peter Hoadley (link in the Guide) as a starter and then see what else you need?


Hi Sam,

Metastock has a built in options package called Optionscope which will draw pay-off diagrams, calculate greeks etc. Pretty basic.

The Peter Hoadley software Roger mentions is far superior and free so I would go down that route.

Top end would be OptionVue software but with a top end price to match.



Junior member
Hoadley's software is very good but is limited to 5 option legs and 2 stock entries. This can be problematic when adjusting positions, rolling into a number of months or entering trades with 6 legs or more.
eSignal has a wide spectrum of tools available for options traders ranging from a standard option chain to advanced options analysis with Options Plus. If you have any questions, please feel free to let me know.


Established member
Robert - my Excel programming certainly isn't up to it, and why bother when the free Hoadley model, with it's continuous improvements, runs in Excel?
Last edited:


Junior member
Excellent, thanks.

Been doing some research of my own and found a couple of software that might be useful. I can't really evaluate them since i don't have the expertise yet. But i would be intrested in your comments.

I put up links to them, on monday, when i back in the office.

AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock    No Thanks