Ease of Use
If you’re an options trader you know how important the right platform and software can be. That is where OptionVue claims to come in. OptionVue is an advanced options trading software that includes features such as charts, modeling, and a TradeFinder tool. Find out more about this software and if it’s right for your options trading in our review of OptionVue.
OptionVue is one of the most robust platforms on the market for advanced options traders. This software includes detailed pricing and volatility information, as well as models for any custom options strategy. On top of that, OptionVue includes highly customizable charting and reporting features.
Unfortunately, OptionVue is far from affordable – the base platform costs upwards of $1,000 per year, and that doesn’t include the cost of data feeds and accessory modules. So, you’ll need to think carefully about whether you need the functionality that this software provides to maximize your profit when trading options.
With many options trading services out there, such as Sky View Trading and Born to Sell, how do you know if OptionVue is the software you want? We’ll take a closer look at their pricing, features, and more in this review of OptionVue so you can make your decision.
OptionVue Pricing Options
An OptionVue subscription starts at $999.99 per year or $99.99 per month. This includes access to the software and technical support, but the data feed is delayed by several hours. Alternatively, you do have the option to connect OptionVue to Interactive Brokers or ThinkorSwim to get real-time quotes through your brokerage.
OptionVue Plus adds the BackTrader module, which enables you to model options strategies on historical data extending back to 2001. A Plus license costs $1299.99 per year or $129.99 per month.
For real-time exchange data, you’ll need OptionVue Realtime. This starts at $2499.99 per year or $249.99 per month, plus additional charges ranging from $1.50 to $8 per month, depending on which exchanges you add to your account. Notably, OptionVue Realtime does not include the BackTrader module. On its own, this costs $60 per month.
If you want to trial OptionVue, a two-week trial costs $5 and includes access to real-time data for US stock exchanges.
OptionVue also offers some additional tools for trading around earnings or scanning for block trades. The Earnings Play and Block Trades modules each cost an additional $1,200 per year. An options scanner, known as OpScan, costs an additional $60 per month.
The most important part of OptionVue is the options matrix, where you’ll find all of the pricing data for the options contracts available for a particular asset. The matrix displays the options premium, the modeled implied volatility, and the current delta value for each contract. You can look across multiple dates and strike prices side-by-side, making it straightforward to evaluate how options pricing and implied volatility are changing.
The options matrix is designed so that you can input trades directly into the options chain display. OptionVue can calculate the legs of a multi-leg strategy for you, and the software will keep track of the value of your trade and your margin cash requirements as prices change through time.
Charts And Modeling
From the options matrix, OptionVue supports advanced charts that integrate strategy data. To start, you can pull up a chart for both stock price data and modeled volatility. If you have any open positions entered into the options matrix, the chart can also overlay your profit and loss zone.
The software also offers detailed charts for modeling profit and loss for any options strategy. Based on the positions you input into the options matrix, OptionVue will calculate a P&L chart displaying your return as the underlying stock price changes. You can display models for multiple dates and implied volatilities, and even recalculate the model based on changing volatility over time. If you want to compare multiple options strategies for a single stock, you have the option to superimpose multiple P&L charts in a single window.
One of the things that makes OptionVue unique is that you have complete control over all of the parameters that go into the software’s models. For example, you can investigate the horizontal skew of the long-term volatility curve. You have the option to alter the expected volatility change for a change in underlying price either across your modeling or for a specific expiration date. You also have the option to modify variables such as month-by-month interest rates and the base model used for calculating volatility.
The TradeFinder tool within OptionVue is essentially a slimmed-down options scanner that primarily allows you to scan options ideas for a subset of stocks and strategies. You can choose from any of 26 call and put strategies and set filters based on the length of the trade or the length of each individual leg.
If you want more options strategies or to develop scans based on custom strategies, you’ll need to purchase the extra OpScan module.
Another advantage of using OptionVue is the platform’s reporting capabilities. You can keep a log of all your options positions by marking them as executed within the options matrix. OptionVue will track your trade performance over time and keep track of your tax liabilities for end-of-year accounting. Helpfully, OptionVue allows you to create as many trading accounts as you want, so you can organize your trades by brokerage account within the software.
OptionVue Customization And Layout
OptionVue offers an incredible level of customization. You have control over nearly every detail of the software’s display, from what tools and menus are in view to how symbols and prices are displayed. For the options matrix, you can develop up to three customizable views and switch between them seamlessly for more efficient options searches. At any time, you can export price or model data from OptionVue to a text or CSV file for further analysis.
OptionVue stands out as one of the most robust options trading platforms on the market. The options matrix display and integrated modeling tools are extremely powerful and allow for efficient comparison of custom options trading strategies. In addition, the ability to modify the calculation of implied volatility and profit and loss models is a major asset that gives experienced options traders more control over their strategies and risk management. Few other options trading software packages offer this level of in-the-weeds customization.
What Type Of Trader Is OptionVue Best For?
OptionVue is an extremely advanced software platform, and as such, is best suited for experienced options traders. The platform is most useful for diving deep into risk modeling and requires a strong understanding of the parameters that are available. OptionVue’s lofty price and lack of built-in tools for options idea scanning mean that this software is only worthwhile if you need access to extremely detailed options strategy models. If you prefer simple options alerts and education, you may prefer a service like Motley Fool Options.
- Model implied volatility for any asset
- Detailed, interactive P&L charts
- Access to model parameters, including volatility calculations
- Includes trade tracking and reporting tools
- Interface and options matrix are fully customizable
- Very expensive and doesn’t include data feeds
- OpScan module costs as much as OptionVue base package