Curious about our newest release, OptionsPlay for Chaikin Analytics integration? Here are some frequently asked questions we’ve been getting from Chaikin Analytics users, with answers from Head of Product Strategy at OptionsPlay, Tony Zhang.
- How is the OptionsPlay score calculated? The OptionsPlay score is a proprietary score OptionsPlay created to give users a gauge for how much reward there is in the strategy vs. how much risk they are taking. Factors that are taken into consideration include price range, options expiration date, and volatility. Probabilities that OptionsPlay uses are based on implied volatility data.
- What does the green checkmark next to a score represent? The green check-mark indicates the highest-rated strategy out of the three on display.
- Are Greeks available in OptionsPlay? Yes, Greeks can be referred to by clicking on the magnifying glass in the P&L Simulator chart and then clicking on “Explain Strategy & Greeks” at the very bottom.
- Can I modify the volatility for a potential trade? Yes, there is a volatility slider for advanced traders on the P&L Simulator at the bottom of the OptionsPlay window, which you can use to simulate a significant swing after earnings.
- Can OptionsPlay list all strategies with the highest ratings? This is not something currently available in OptionsPlay or Chaikin Analytics, but we’re constantly adding updates and new functionality to our software.
- Do you analyze both Weekly and Monthly options? Yes, OptionsPlay analyzes options for all strategies and time frames.
- Does OptionsPlay primarily reference at-the-money versus in-the-money calls and puts? OptionsPlay uses at-the-money calls as a starting point.