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Hello Pete, I am doing options trading. I have a watchlist of about 200 stocks that I am regularly selling options on. I would like to add a custom field with Return On Capital in %. For example, I am selling -0.20 Delta Put Option and +0.20 Delta Call Option. It results in a credit of 2,00 Dollars. The needed Buying Power is 1000 USD. The Return on Capital would be shown as 20%. Then, I can sort my watchlist in a descending order of the highest return on capital in % to the lowest. Some Option Chain may need offer exactly 0.20 Delta, then the next nearest should be picked, e.g. -0.19 Put and +0.21 Call. The option chain to be looked at is always the next monthly expiration date. Do you have any idea to program such a custom field?
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If there is a solution this would take hours to program (unless I had already created this for another client, which I have not). I have 15 min to provide solutions in a single post on the Q&A forum. The solution requires the user input the expiration date to be used for every stock in the watchlist. One date, applied to every ticker symbol in the list. Since your list contains stocks and not strangles, the code would need to use the expiration date to get the ATM call and ATM put, then daisy chain through the option chain checking the delta at each step in the chain to locate the .20 delta options. THEN compute the current Theo price for each and then do the rest of the math. Holy cow, you could not pay me enough money to even attempt to work this out. And I love a good puzzle, but I am not a masochist. Buying power is not available to the Thinkorswim language. So this too would need to be part of the computation. If TDA should change the buying power (due to margin requirement) then the code would need to be updated to reflect that. The following specification may or may not be possible: "Some Option Chain may need offer exactly 0.20 Delta, then the next nearest should be picked, e.g. -0.19 Put and +0.21 Call." In summary, it may be possible. But it will be very expensive and I am not the least bit interested. Marked as spam
 Posted by Pete Hahn (Questions: 37, Answers: 4118) Answered on June 16, 2020 8:05 am
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