EXTRACTING DELTA @%50 FROM AN OPTION CHAIN


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HELLO PETE.

I AM SO GLAD I CAN POST MY PROBLEMS HERE AND GET AN ANSWER.

HOW CAN I GET A 40 DAYS OUT CALL OR PUT DELTA @%50.FROM A  CERTAIN OPTION CHAIN.EVER TIME FOR SOMETING LIKE AUTOTRADING.

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Posted by (Questions: 3, Answers: 0)
Asked on February 2, 2017 5:48 pm
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I don’t think we can accomplish this for autorading on Thinkorswim. But I will look into this in more detail when I get time. We can only work with conditional orders to simulate autotrading on Thinkorswim. And a conditional order requires that we start with the actual ticker symbol. So we would first need to manually identify the option contract you want to trade, then place the order with a condition for execution. We can’t really tell the conditional order to go out and find the option contract based on some criteria.

( at February 2, 2017 8:49 pm)
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As a followup to my earlier comment. I have examined the options available for conditional orders. You must begin with a ticker symbol. And that is the ticker symbol the order will execute. You cannot enter any thinkscript for the condition that would search for and execute an order for some undefined ticker symbol. So it is not possible to set the order up for AAPL, then have the conditional section pick something out of the option chain and execute that instead of AAPL.

About the best we can accomplish is to write a custom chart study that would identify the ATM Call and Put for a given stock. Then report those in a chart label in the upper left of the chart. We can also include the delta of each ATM Call.

You can see a Thinkscript example of this here (minus the Delta):

http://tlc.thinkorswim.com/center/reference/thinkScript/Functions/Option-Related/GetATMOption.html

 

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Posted by (Questions: 37, Answers: 4079)
Answered on February 3, 2017 10:09 am