New OptionVue features this year

Len Yates

New member
Now that OptionVue is under new ownership and we are nearly through the transition phase (in terms of shifting responsibilities within the office), I have begun turning my attention to planning the engineering work that needs to be done this year. Accordingly, I would like to open up a dialog with OptionVue users. What features should we strive to add to the OptionVue program this year? What areas of the program could be made to work better? Of course, I already have a stack of suggestions on my desk, but please help me pick which items should be highest on the list.

Here is an example: In the Matrix, make it possible to select two or more Trade ID’s to be active at the same time. I think a lot of people are wanting this, so we will work on it soon.

What is high on your own personal list?
 

tom

Administrator
Staff member
Hi Len,

Here are a few ideas,
  1. Allow a matrix to use two different symbols like SPX and SPY for the same trade.
  2. Make an easy way to capture an image of a matrix and analysis chart.
  3. Make it easier to share a position with someone else. For instance, generate a link another OV user could use to load the position (including the relevant t-log entries).
  4. Support non-U.S. symbols like the DAX
  5. Have a presentation mode to display a position with minimal clutter.
  6. Publish an api to allow 3rd party developers to extend OV.
  7. Create a spread price array to show different vertical spread prices for different spread widths for a symbol
  8. More granular historical price data. Is 1 minute data available?
  9. Show the range of movement for the underlying on the analyze chart.
  10. Support the T-log data in GMT time and convert it to whatever time zone the user is in
  11. Create a feature for people to share a group of trades. Could be for a trading group or an instructional class.
  12. Have a matrix mode that only shows strikes being used (existing positions and proposed trades)
  13. Let users pick what colors they want to use in the analyze charts and in what order. For instance, random order or always use this color first.
  14. Create an automated back testing tool. See CMLVIZ trade machine for an example.
  15. Allow adding indicators like NinjaTrader or Thinkorswim scripts to price charts.
  16. Better looking price charts
That is a start :)
 

Len Yates

New member
Those are some good ideas. Thank you Tom.
About the 4th from the bottom suggestion. That is in the program already. You can find it in Settings | Preferences | Colors.
I'm going to take your first suggestion as the most important for the near term. I'm going to attempt to put this in during the next month or two.
Regarding suggestion #2, I'm not sure we can do better than what Microsoft has already provided in terms of a snipping app.
Regarding suggestion #7, can you provide me with a sample format / layout?
Regarding suggestion #11, what would this look like?
Again, good ideas so far. I appreciate it.
 

status1

Active member
I am not using OV but I was thinking for #2 perhaps something like how TOS is doing the screenshots would be better than the snipping tool from Microsoft
 

tom

Administrator
Staff member
Hi Len,

Here's the color menu on the settings dialog box:
1897

This only let's your re-order the analyze chart colors. You can only pick colors for the Matrix. There is no way to force new analyze charts to always use on preferred color. For example, when I create slides, I always use blue as it has the nicest color contrast (and it's my favorite color). When I switch to a new analyze chart, it goes to Red. I want it ALWAYS to start with Blue.
 

tom

Administrator
Staff member
#2. I use SnagIt from TechSmith but the point is to make it as easy as possible to generate images for sharing. You could get fancy and after you capture the image, bring up a dialog box to share it (email, generate a url, post to twitter, facebook etc) and have it branded with an OptionVue watermark. eSignal used to do this and the likely still do.
 

tom

Administrator
Staff member
#11. You could allow sharing of an account with multiple trades in it. That's probably the easiest way.
 
P

p4nosk

Guest
Hi All,

Some more ideas below, noting that I have only started using OV a few months ago so the below may already be incorporated.

A. when placing a trade, I usually have a predefined profit and loss target in terms of absolute value. It would be good to have a calculator of some sort where you would enter those targets and would provide with a market price that would lead to these outcomes. This would help with placing GTC limit orders. It is easily done using a calculator or excel but would be helpful for me to have this within OV so as I can easily adjust based on the market and review as needed.

B. There is a lot of info on Volatility, IV skews (horizontal and vertical), Vol cones, SV/IV charts, etc. in OV. A separate "tool" (for lack of a better word) to analyse volatility per underlying similar to IB Volatility Lab would be really useful. This should be linked to either the "survey" or the "trade finder" too.

C. Is there a plan to integrate sending orders to IB directly from OV?

Just some thoughts... 😁
 

Len Yates

New member
I want you to know that suggestion #1 above strikes me as being the most important at this time, and we want to accomplish this during the next 4 weeks.

About Graphic Analysis line colors, the program uses colors in the order in which they appear in this list. Assuming what you see above, with the order being blue, red, green, and purple, the first time you click Analyze, the first color used will be blue. If you then return to the Matrix w/o closing Graphic Analysis, perhaps make some changes in the matrix, and then click Analyze again, the new line added will be red. And so on. However, if you close up Graphic Analysis completely (by clicking the X button until all the analysis is gone and then clicking the Close button), then your next Analyze will start from the beginning again and use blue lines. Obviously, we had to make the program use different colored lines when “piling up” multiple analyses.

About #2 above, I was able to find the screen capture feature in TOS. Pretty fancy. This is a good suggestion and I will put this on our list.

About #7 above, thank you for the sample. This is also a good suggestion and I will put this on the list.

Regarding A. above, there is something in OV that could provide what you are looking for. After a position is converted (entered into the T.Log), if you will open Account Status, you will see the position listed there. Right-click on the position and then select “Set New Alert”. In the form that opens, you can enter an objective and a stop. Once these are entered, when you open Graphic Analysis, there will be horizontal lines on the graph representing your objective and stop. Using these, you should be able to derive any further numbers that you might need.

Regarding B. above, it was approximately 1 year ago when we seriously upgraded OV’s “Volatility Lab”. OV now contains everything that the IB Volatility Lab has, and more. You can read about this in the attached docs, and we will soon be adding more information about this in the OptionVue online help system.

Regarding C. above, we would very much like to accomplish this. About a year ago, we tried to gather documentation and get started, but we were unable to find sufficient documentation. Of course, we will try again sometime.

Thanks everyone!
Len Yates
 

Attachments

Len Yates

New member
We are preparing to release a new version of OptionVue next Friday (April 19th), with lots of improvements. For instance, in the Matrix, you will now be able to include a position in the SPY with your $SPX, a position in the IWM with your $RUT, and a position in the QQQ with your $NDX. Also, for those who subscribe to the QuoteVue service, there is a new window you can open and watch block trades occurring in real time -- block trades in equity options. Large block trades in options can sometimes be a telling signal of which way the price of the underlying is heading in the near future.
 

tom

Administrator
Staff member
Micro ES futures have been released. These would be very handy to tweak Delta of an ES futures options position. Can MES be combined with ES the same way SPY and SPX can be combined?
 

Len Yates

New member
With release 8.56 -- just made available -- we have a brand new feature called the "Block Trades" window. This allows users to monitor, in real-time, block trades in stock options. Sometimes you will notice unusual activity that is taking place. The program highlights trades taking place at or near the bid or ask prices, so you can tell if these options were being bought or sold. It is possible to limit the field to just a few stocks, as well as to stocks that are set to announce earnings soon. See our website for more information. https://optionvue.com/news/announcing-blocktrades/

In addition to this, we accomplished suggestion #1 (below) -- you can now include a position in the SPY when working with the $SPX matrix, a position in the IWM when working with the $RUT, and a position in the QQQ when working with the $NDX.
 

tom

Administrator
Staff member
HI Len.
Now the there are E-micro futures can you add the ability to add them to E-mini futures options positions?
 

JC40

New member
Hi Len, are you planning on posting a similar thread for 2020? After using OV for a while, I do have some feedback. I'm not sure where best to send it.
 

tom

Administrator
Staff member
Len no longer works at OptionVue. Hopefully someone from OptionVue will reply.
 
Top