This is a trading item or a component that was created using QuantShare by one of our members.
This item can be downloaded and used by QuantShare Trading Software.
Trading items are of different types. There are data downloaders, trading indicators, trading systems, watchlists, composites/indices...
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This item retrieves a list of options, for the US markets, from a Covered Call Screener. The Screener displays each day, the potential candidates for a covered call strategy, with several measures, like the percentage of Return on Exercise, or the Probability of Max Return.
The first time you start the item, you will be prompted to create a custom database. This database, whose name is 'options_covered_call', contains the following fields:
Price: This is the underlying security price
Option: This is the option symbol name
Type: Returns 'C' for a call and 'P' for a put
Strike: This is the option strike price
Expiry: This is the expiration date of the option
Bid: This is the last day option price
Vol: This is the option last day volume
OpenInterest: This is the option open interest volume
TimeValue: This is the time value expressed in percentage
ROE: This is the return on exercise expressed in percentage
Prob: This is the probability of maximum return
You can use the QuantShare watchlist to keep track of changes in the screener.
Just a quick reminder, in order to access custom database data using the vector-based language, you can use the function: 'GetData' or create your own functions using the 'Custom Functions' plug-in.
You can see an example and download the item that gets Covered Put data here: Covered Put Screener
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
