OptionsOracle

OptionsOracle is lightweight software application whose purpose is to help traders analyze stock option trading strategies by offering updated stock market information, building stock positions as well as working with graphs and analytic tools. Plus, it provides support for worldwide option exchanges.

The first impression you get when working with OptionsOracle is that it looks crowded and a bit overwhelming, and this is because most of its parameters are comprised in a single panel.

Bad news is that you don’t get to find out more details about the program’s capabilities from a help manual, so you may need to look for information on the Internet and experiment with its features to make the most out of it.

The tool integrates a single start tutorial which includes hints. They are revealed when you run the tool for the first time in order to familiarize you with the main features of the program and GUI.

You can enter the stock symbol or name, download stock data from the online servers, and refresh stock information with just one click in order to have the latest quote.

OptionsOracle is able to download various pieces of information about stocks, such as type, expiration, symbol, bid, volume, and time value. You can use the preconfigured template or manually set up the entire process in order to build the tested position.

The application is able to provide data about the position gain/loss gain given the stock price and time, so you can get the big picture of the current position. You can check customized or preconfigured strategies over multiple stocks and apply several option combinations, as well as export data to CSV file format.

OptionsOracle offers support for a volatility analyzer that gives you the possibility to analyze the historical volatility of an option compared to its actual implied value for similar time periods. Graphs are also revealed in order to better understand the position values over time.

The calculator provides analysis of price, volatility, delta, gamma, theta and vega options, while the portofolio manager is implemented for helping you monitor positions in separate portfolios or in one main portfolio and quickly switch between the saved strategies.

You can test a strategy using different parameters, such as volatility, underlying price or date and obtain the strategy performance and calculations (delta, gamma, vega, theta).

You can make the app show a pain graph that reveals the total option exercise value at the expiration date, generate a volatility smile graph that shows the volatility smile of option chain on different expiration dates, and enter a custom formula or algorithm in JavaScript language for ranking stock options.

OptionsOracle integrates a handy suite of features for helping traders test different option strategies using real-time options and stock-related market information. The GUI is not quite intuitive so rookies may spend some time configuring the dedicated parameters.