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Finance Add-in
for Excel
 

Cost of  Finance Add-in for Excel
 

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Options Strategy Evaluation Tool
Premium Features

The basic version of the Options Strategy Evaluation Tool (OSET) is free to download and use.  However if you also purchase and install the Hoadley Finance Add-in for Excel the premium version of OSET, containing the additional premium features described below, will be automatically enabled. 

Simply install the full version of the Finance Add-in for Excel. No other action is required.  OSET will detect that you have installed the add-in and the premium features will immediately be available for you to use.

Premium features greatly increase the power and ease of use of OSET. Each premium feature is briefly described below.

Premium Feature

Description

Advanced time and volatility modelling

Simultaneously display "profit if closed" on payoff diagram for five dates prior to expiry.

Dynamically model impact of future volatility changes on profit by clicking spin buttons.  Payoff diagram adjusted with each spin button click.

Breakeven analysis

Show all breakeven points for six discrete times slices prior to, and including, expiry, and the probabilities of falling within each of the breakeven ranges.  The total probability of profit and total probability of loss are also shown for each time slice.

Dynamically model the impact of changes in volatility after the deal has been entered into, on breakeven points and the probabilities of breaking even, by clicking a spin button.

On-line option chains



One click strategy suggestion and  strike/expiry evaluation
 

Quotes from option chains

Retrieve complete option chains from various free on-line sources, and from a number of real-time data feed providers and select trades from from available options by a simple point and click.

Automatically suggest an initial set of options for any given template strategy (eg a strangle or bull spread) with one button click.

Using a suggested strategy as the starting point, step through an entire option chain evaluating a given strategy for all strikes for a given expiry date, all expiry dates for a set of strikes, or both.

Update the underlying asset price and all trades in a strategy with with the latest prices at any time with one mouse click.

Underlying asset quotes

Retrieve underlying asset prices from Yahoo Finance or from any other source which can deliver quotes to Excel spreadsheets.  All the streaming quote providers supported by the Finance Add-in for Excel can be used in OSET for real-time underlying asset quotes.

Percent to target analysis

Show for each option trade in a strategy the change in underlying asset price required to produce a user-specified change (positive or negative) in option price. Percent-to-double is one example of this analysis.

Strategy dissection

Show the individual trades of a complex strategy separately, but together on a single payoff diagram to enable each trade's contribution to the overall strategy to be more easily understood.

Automatic position hedging

Automatically adjust strategies to achieve target neutrality outcomes with two mouse clicks. 

A strategy can be made delta neutral, delta and gamma neutral, vega neutral, delta and vega neutral, or delta, gamma, and vega neutral.

Backtesting

Backtest by stepping through strategies from deal date to expiry using actual market data. Data can be a price history of the underlying only or, if available, the underlying plus option histories.

3D Payoff diagrams

View Payoff diagrams in three dimensions showing profit or position Greeks simultaneously by underlying price and time to expiry. Payoff diagram can be dynamically rotated using spin buttons for better viewing of complex payoff surfaces.

Greeks by trade

Show Individual and position Greeks next to each trade for current underlying price (only individual delta available in basic version). Position Greeks shown for entire strategy (no position totals in basic version).

Additional trades/legs

Use up to ten option trades per strategy (vs five without premium features enabled).

Sentiment indicators

Calculate open interest and current volume put/call ratios for specified months using on-line option chains. 

Produce open interest configuration charts showing open interest for puts and calls by strike.

Open Positions Manager (OPM) integration

Import open positions from the Open Positions Manager (OPM) into OSET with one button click to model the impact of various alternatives on strategies entered into some time in the past.

Dynamic graph scaling and centering

Scale and center the payoff diagram by clicking spin buttons.

Integrated historical volatility calculator

Retrieve historical data and calculate historical volatility using the sohpisticated GARCH and EWMA models.

Probability analysis

Show the probability of hitting underlying asset targets.

Probability curves are superimposed on the payoff diagram for each strategy to enable the probability of hitting key targets, such as breakeven and maximum profit/loss, to be viewed in the context of strategy payoffs.

Both "end of period" and "any time prior to expiry" probabilities are shown. Probabilities are shown both graphically and in table form.

Probability cones

Show graphically the probability of falling between various asset price bands at various maturities.  Produced for both "at end (expiry)"  and "any time (touching)" probabilities.

Changes in key variables (volatility, dividend yields etc.) can be dynamically modelled.

Enhanced financial analysis

Calculate expected returns for a strategy (return for period and annualized ROI) for any user-selected underlying asset price.

Retain all data when moving to a new version of OSET

Export all your current saved strategies, underlying asset data, and settings, and import them into a new version of OSET with two button clicks. (In the basic version your saved strategies cannot be moved to the new version of OSET and all data would need to be re-entered manually).

Links:

Summary of all options tools included with the Finance Add-in for Excel

Finance Add-in for Excel -- function summary

Pricing and purchase of Finance Add-in for Excel 

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