TSC Options Forum: Tools You Can Use
I think your work is fantastic. I have a quick question about today's article. Where do you get your numbers for historical implied volatility? Better yet, where would one get those numbers without having a supercomputer sitting around with lots of memory?
Thank you kindly,-- DK. Many readers asked this week about software and resources for option data and strategy analysis. While the learning process is never truly finished, it's encouraging to see a gradual shift in demand from broad educational materials to applicable real-time trading tools. It sounds like you guys are chomping at the bit and really mixing it up out there -- profitably, I hope. But rather than note specific software packages and trading platforms -- which can be quite costly and, well, I can't give away all my secrets, can I? -- I'd prefer to direct you to a couple of agnostic Web sites that are chock-full of data and research tools that are available for little or no money. But before I turn you loose, however, allow me a few moments at the lectern. While I can hardly overemphasize the importance of researching data, back testing and running strategy scans, this simply helps to shift odds and improve risk/reward profiles. The essential ingredient to profitability remains being right. I don't know of any strategies that make money when you're wrong, but there are plenty of strategies, if misapplied, that won't yield a profit even if your thesis is correct. Put another way, if something is cheap, that doesn't mean it won't get cheaper, and if something has never happened before, it doesn't mean it won't.
The GoodiesOne site I've mentioned before is
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV