OptionVue is a comprehensive options analysis and trading platform that provides real-time data, advanced analytics, and risk management tools. It has features like portfolio tracking, implied volatility analysis, and customizable alerts to help traders make informed decisions and manage risk.
What determines your success as an options trader? There are many determining factors, and one of them is the platform you use for your trades. As you might be aware, finding a badass trading software is not always easy (especially in a crowded marketplace).
In this article, we shall do a detailed OptionVue review, where we’ll discuss the key features that this service has to offer. In the end, you’ll be in a better position to decide whether the program has what it takes to navigate through the murky waters of options trading.
What is OptionVue?
This is a robust software program that is specially designed with advanced options traders in mind. Some of the offerings that this service has include models for different custom options strategies and in-depth information on prices and volatility.
Besides that, they provide some of the best customizable charting tools around. And don’t get us started on their advanced reporting features that come in handy when you need to carry out in-depth analyses on the go.
About the Developer
The founder of the OptionVue trading system is Len Yates, a specialist in options modeling software programs. He is also the President of the company and has years of experience in options trading. Yates has made a name for himself in the field of options pricing models and some of his great works include the Yates adjustment model and the Black/Scholes model.
One thing about this program is that it is not the cheapest one of its kind around, and this may make you consider going for competing platforms such as Born To Sell and Sky View Trading.
But, what makes OptionVue unique and worth trying? Here’s a closer look at some of its key features.
1. The Options Matrix
This is one of the outstanding aspects of this program, and this is where you’ll get all the pricing information for the options contracts available for a certain asset. Some of the data displayed include the implied volatility, options premium, and the present delta value for each contract.
Since you can look across multiple dates and strike prices simultaneously, it will be easy for you to analyze the fluctuations of the options pricing and implied volatility.
Another thing about this matrix is that it allows you to input your trades directly into the options chains display.
Lastly, the service has the ability to calculate the individual legs of a multi-leg strategy on your behalf. Then the program will keep track of the value of your trade and your margin cash requirement as prices fluctuate over time.
Next up is a tool that is basically an options scanner with which you can scan options ideas for a subset of stocks and strategies. Here, you can choose from 26 call and put strategies and set filters based on the length of the trade or that of each leg.
And if you desire more options strategies or develop scans based on custom strategies, you may have to acquire the extra OpScan module.
3. Charting and Modelling
Another reason why OptionsVue appeals to the established traders is that it supports advanced charts that integrate strategy data. First, you can set up a chart for both stock price and modeled volatility.
Then, if you have any open positions, this feature can overlay your profit and loss zone.
Besides that, you will also get detailed charts that you can use to model profits and losses for any options strategy. It all depends on the positions you input into the options matrix, and the software will calculate a P&L chart that displays your return as the underlying stock prices change over time.
Other actions that the charts can perform for you include displaying models for multiple dates and implied volatilities or recalculate the model based on the changing volatility as time goes by.
It will also be easy for you to compare multiple options strategies for a single stock as you can superimpose multiple P&L charts in one window.
The other benefit of using this platform is the reporting capabilities that it possesses. By marking your options positions on the options matrix as executed, it will be easier for you to keep a log of all of them.
In addition to that, the program will track your trade performance over time and keep a record of your tax liabilities for the purposes of end-of-year accounting.
If the system allows you to create multiple trading accounts, you can easily organize your trades via a brokerage account within the program.
What about Customization?
We can tell you for the fact that the customization that this software offers is quite impressive. You will have complete control over every aspect of the program, such as the design in which the symbols and prices are displayed, the interface, and the tools and menus in view.
When it comes to the options matrix, you have the option of developing up to three customizable views, and you can switch between them effortlessly for more efficiency in options searching.
Most of all, the program gives you the capability to export price or model data from the platform to a CSV file for more analysis.
The Pricing and Trial Period
There are three subscription packages for you to choose from. The basic subscription costs $99.99 per month or $999.99 per year. With this tier, you will get access to the service and technical support, but you can expect some delay in the data feed by some hours.
The other limitation is that you cannot connect with other platforms such as ThinkOrSwim, whereby you can get real-time quotes through your brokerage.
Next is OptionVue Plus, whose extra feature is the BackTrader module through which you can model options strategies based on historical data that dates back to 2001. This plan costs $129.99 per month or $1299.99 per year.
Lastly, we have OptionVue Realtime, which, as the name suggests, will offer you real-time exchange data. It will cost you $2499.99 per year or $249.99 per month. Further, there are extra charges that range between $1.50 to $8 per month, depending on the exchanges that you add to your account.
Keep in mind that the final plan does not have the BackTrader module, and it would cost you $60 per month if you ever need it.
There is also a 2-week trial period that costs $5 and features access to real-time data for US stock exchanges.
Besides this software, the company also offers other tools that you can use for trading and scanning for block trades. For instance, there is Opscan, which is an Options scanner that costs $60 per month, while the Earnings Play and Block Trades modules each go for $1,200 per year.
Which Trader is this Service for?
Due to the advanced nature of this platform, it would be a perfect match for experienced options traders. To use it comfortably, you will need to have a deep understanding of the parameters in use, and you will find it handy for risk modeling.
From our analysis, we believe that this software is worth trying out. Its pricing may be steep, but we believe it would offer the advanced traders full value for their investment. It will provide you with all the tools needed to develop strategies and track your performance over time.
And if you feel like the system is too complicated for you, there are simpler alternatives that you could try out, such as Motley Fool Options.
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