Options trading tools have always been either hard to use or crippled by incomplete or insufficient data.
Because we started as traders, we understand the difficulty of working with poor data and cumbersome tools. So, we decided to do something about it. Having a wealth of data built into one easy-to-use tool can help you develop and execute on a strong options trading strategy.
What It Does
Buying data, coding, interpreting, and cleaning: it isn’t easy to build your own solution from the ground up.
Simply plug in which option strategy you want to test and results appear in seconds. Define your option trading strategy in the Wheel by using days to expiration, delta or percentage out-of-the-money, filter by yield percentages and market width, utilize delta hedging with flexible hedging dates or delta tolerances, and more.
With the ORATS Scanner you can scan based on your best backtests. In an easy-to-use interface, you can select a backtest and see the current options meeting your criteria.
A strategy is not just some theory; it has to be set in action. Send trades from the scanner, integrate with broker trading algorithms, get live market alerts on your orders, and review executions graphically, all from the Wheel.
Backtest Options Using ORATS Wheel
- Quality data Perhaps the most important and least appreciated part of backtesting is the underlying options data. We give you data with sophisticated quote cleaning, smoothing algorithms, and calculations of Greeks and theoretical values to aid your strategy.
- Ease of use Set up exit rules with delta, out-of-the-money percentages, profit percentage, or days left in the trade. Indicate your special reentry rule for exit triggers. Select delta hedging and use portfolio weighting to backtest a group of stocks together. All in one easy-to-use tool.
- Depth of options After you set up your backtest, you can use the same inputs to scan in real-time. After reviewing the current market in the Scanner, send options to the Execution Monitor for delivering to brokers. You can track filled (or paper traded) options to the Exit Monitor to produce profit and exit alerts.