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Page History: Option Sheets Formats

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Page Revision: 2016/07/06 06:40

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General

• Headers:

  Details:

  • Under descriptions length choose: none (hide), short, medium, or long.
  • Under Call/Put on left choose: placing a C for call or P for put on the left or right side of the description.
  • Under Use Call/Put Character choose use a symbol to represent the C (call) and P (put).
• Zoom:

  Configure:

  • Press up and down arrows to adjust.
  • Type in the zoom rate.

  Details:

  • The format for percentages are in decimal form.
  • example: .65 = 65%, 1 = 100% .
  • zoom minimum is .60.
  • zoom maximum is 3.00.
• Margins: The space between cell text and the border.

Disable Percision

• Theoretical Value: Disable the precision for the theoretical value on the option sheet.

Toolbars

• Month Selection Type: Choose between a pull down or a tab strip method to change the viewable month on the option sheet.
• Future Toolbar: Choose how to configure the the futures toolbar.
• Options Toolbar: Choose how to configure the options toolbar.

Inventory

• Call & Put: Formatting options for the call and put inventory.
• Strike Net: Formatting options for the strike net inventory.

Theoreticals

• Format Individual Months:
  • CHECKED BOX:this allows each month to be formatted individually.
  • UNCHECKED BOX:this allows all months to be formatted the same.
• Price: Formatting options for theoretical price.
• Straddle: Formatting options for theoretical straddle price.
• Delta: Formatting options for theoretical delta.

Electronic Options

• Working Orders: Formatting options for working orders.
• Price: Formatting options for bid and offer price.
• Volatility: Formatting options for bid and offer volatility.
• Size: Formatting options for bid and offer size.
• Edge: Formatting options for edge.

  Details:

  • Definition of Negative Edge = is when the bid difference or offer difference is less than the configured Edge Level (relative to the theoretical price).
  • Definition of Positive Edge = is when the bid difference or offer difference is greater than the Edge Level (relative to the theoretical price).
  • Definition of Edge for Bid = is the difference between the configured Edge Level (relative to the theoretical price) and bid price.
  • Definition of Edge for Offer = is the difference between the configured Edge Level (relative to the theoretical price) and offer price.
  • To set the edge levels = Press the Series button , in the Volatlity tab, in the Heap Map Edge Level group.
• Show Negative Edge: Show the negative edge on the sheet.

  Details:

  • CHECKED BOX = shows both negative and positive edge.
  • UNCHECKED BOX = shows only positive edge.
  • Definition of Negative Edge = is when the bid difference or offer difference is less than the configured Edge Level (relative to the theoretical price).
  • Definition of Positive Edge = is when the bid difference or offer difference is greater than the Edge Level (relative to the theoretical price).
  • Definition of Edge for Bid = is the difference between the configured Edge Level (relative to the theoretical price) and bid price.
  • Definition of Edge for Offer = is the difference between the configured Edge Level (relative to the theoretical price) and offer price.
• Last Trade: Formatting options for last trade.
• Price Over or Under Theo: Formatting options for last trade price and placed over or under the theoretical price.

  Details:

  • if the last trade is GREATER THAN the theoretical price = places last trade OVER the theoretical
  • if the last trade is LESS THAN the theoretical price = places last trade UNDER the theoretical
• Diff Over Under Theo: Formatting options for the difference of last trade price from the theoretical price and placed over or under the theoretical price.

  Details:

  • if the last trade is GREATER THAN the theoretical price = the difference between the last trade price and theoretical price is placed OVER the theoretical
  • if the last trade is LESS THAN the theoretical price = the difference between the last trade price and theoretical price is placed UNDER the theoretical
• Last Trade Volume: Formatting options for last trade's volume.

Analytics

• Volatility: Formatting options for Volatility.

  Details:

  • Definition of Volatility = The measure of future's movement for 1 standard deviation.
  • To show on the sheet = On the properties in the Views tab.
  Formating Options:
  • back color
  • font color
  • font size
  • font style
  • decimal places
• Vega: Formatting options for Vega.

  Details:

  • Definition of Vega = The change to the options extrinsic value. (time premium) given a 1% change to volatility
  • To show on the sheet = On the properties in the Views tab.
  Formating Options:
  • back color
  • font color
  • font size
  • font style
• OEV Formatting options for OEV.

  Definition:

  • OEV = Vega based option equivalence.
  • Equivalent number of ATM (at the money) options based on Vega.
  • This expresses vega in terms of number of ATM options.

  Example:

  If your OEV is equal to -5.8 means it is equivalent to being short 5.8 at the money options in terms of vega. Buying 5.8 atm options would flatten the vega risk.

  Details:

  • To show on the sheet = On the main properties in the Views .
  Formating Options:
  • back color
  • font color
  • font size
  • font style
  • decimal places
• Gamma: Formatting options for Gamma.

  Details:

  • Definition of Gamma = The change to the delta given a change to the future's price.
  • To show on the sheet = On the properties in the Views tab.
  Formating Options:
  • back color
  • font color
  • font size
  • font style
  • decimal places
• OEG: Formatting options for OEG.

  Definition:

  • OEG = Gamma based option equivalence.
  • Equivalent number of ATM (at the money) options based on Gamma.
  • This expresses gamma in terms of number of ATM options.

  Details:

  • To show on the sheet = On the main properties in the Views .
  Formating Options:
  • back color
  • font color
  • font size
  • font style
  • decimal places
• Theta: Formatting options for Theta.

  Details:

  • Definition of Theta = The change to the options extrinsic value (time premium) given a 1 day change to days to expiry.
  • To show on the sheet = On the properties in the Views tab.
  Formating Options:
  • back color
  • font color
  • font size
  • font style
• OET: Formatting options for OET.

  Definition:

  • OET = Theta based option equivalence.
  • Equivalent number of ATM (at the money) options based on Theta.
  • This expresses Theta in terms of number of ATM options.

  Details:

  • To show on the sheet = On the main properties in the Views .
  Formating Options:
  • back color
  • font color
  • font size
  • font style
  • decimal places
• Slope Premium: Formatting options for Slope Premium.

  Example:

  • If slope premium is 15 means: if you added 15 ticks to the theoretical price it would be on a flat slope.

  Details:

  • Definition of Slope Premium = The number of ticks that the price of the option would need to change by in order to get to a flat slope.
  Slope premium formatting options.
  • back color
  • font color
  • font size
  • font style

Settlement Information

• Theo at Fut Settle:
• Theo Vol at Fut Settle:
• Settle's Vol:
• Settle's Vol-Theo Vol at Fut Settle:
• Settle Theo at Fut Settle Over:
• Settle Theo at Fut Settle Under
• Settle- Theo Over Theo:
• Settle- Theo Under Theo:
• Settlement:

Market Information

• Net Change:
• Total Trade:
• Open Interest:
• Open Interest Net Change:

Miscellaneous

• Strike:
• Second Strike:
• Seperator:

Trade how you want, where you want

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