Introduction to Options Data and Tools on Trading View

Overview

• Mission: Introduction to the options data and tools now available on Trading View.
• Current Status: In beta; will become more advanced over time.

Options Product on Trading View

• Location: Available under the 'Products' section on tradingview.com.
• Components: Strategy Builder: Allows creating option strategies based on symbol expectations.
  • Symbol Selection: Search box with limited symbols, more to be added over time.
  • Example: Selected S&P 500 ETF (SPY).
    • Filters: Bullish, neutral, or bearish strategies.

Building a Strategy

• Tools and Inputs:
  • Expiration Date: Example shown from July 19th, 2024 to September 30th, 2024.
  • Strike Price: Adjustable for different predictions.
  • Position Size: Option to change the number of contracts (e.g., 100 contracts).
  • Greeks Utilization: Vega, Theta, etc.
  • Visualization: P&L Lines: Orange (Greek selected), Blue (Current P&L), Green/Red (Expiration P&L).
  • Data: Max profit, max loss, win rate, break-even rate.
    • Example: Long call on SPY (max loss cost $40, max profit potentially infinite).

Super Charts & More Data

• Options Contract Charting: Under symbols search, filter by options, example shown with NSE Nifty50 index options.
  • Customizable Charts: Can perform technical analysis similar to other charts.
  • Chart Types: Candlesticks, line charts, etc.
• Example: Tesla symbol with options chain, implied volatility charts.
  • Filters: Specific expiration dates.

Strategy Builder

• Utilization: Create, store, and track multiple strategies.
  • Example Strategies: Long call, short call, long iron butterfly, bull put spread.
  • Manage Strategies: Edit positions, add positions, e.g., combining calls and puts.
  • Naming Strategies: Importance of specific, recognizable names.
  • Complex Trades: Combine and visualize multiple strategies on one graphic.

Additional Features

• Blank Strategy Builder: Start from scratch, experiment with visuals and inputs.
• Access Points: Products Drop Down, Symbol Pages, Super Charts.

Conclusion

• Overall: The options product on Trading View provides comprehensive tools and data for options trading and strategizing.
• Future Content: More videos and deep dives into options tools and usage.