Greeks

[jim2000]

My brokers option chains don't include the Greeks.

Does anyone know if there is anyplace where I can go to look at option chains with Greeks included?

[aiki14]

	Quote:	jim2000
	My brokers option chains don't include the Greeks. Does anyone know if there is anyplace where I can go to look at option chains with Greeks included?

You can add the puts and calls yourself and get a price for any combination. You're always going to pay the premiums anyway. Some brokers will give you a discount if you buy a straddle but I don't think any are going to give you a break on a condor or other exotic combination.

[jim2000]

I'm not sure I understand. Maybe I didn't phrase my question right.

I have seen option chains that have included, for example, a column for Delta. Showing delta for each strike. The option chain I get through my broker doesn't have this and I was wondering if there was a site where I could view option chains with the greeks for each strike price?

[aiki14]

Here's a good start for all things options
http://www.cboe.com/

another site I like
http://www.optionmonster.com/#action=home

[darthtrader]

try the think or swim demo, its just 20 min delayed but free. It has everything you need.

[aiki14]

	Quote:	jim2000
	I'm not sure I understand. Maybe I didn't phrase my question right. I have seen option chains that have included, for example, a column for Delta. Showing delta for each strike. The option chain I get through my broker doesn't have this and I was wondering if there was a site where I could view option chains with the greeks for each strike price?

Sorry, your question was fine, my answer was poor. See my other post for places to go.

[jim2000]

Thanks to both of you.

[james_gsx]

Excuse my ignorance, but how important are the Greeks when you're doing a short term play?

For example, let's say I wanted to utilize options for a swing play instead of an ES contract I could setup an options play using SPY or the options backing the ES. Would it really be crucial to look at all the Greeks?

I'm not saying I shouldn't learn them, I have been doing that but I am just curious about how relevant they are for such a short term play (like 3 days).

[aiki14]

	Quote:	james_gsx
	Excuse my ignorance, but how important are the Greeks when you're doing a short term play? For example, let's say I wanted to utilize options for a swing play instead of an ES contract I could setup an options play using SPY or the options backing the ES. Would it really be crucial to look at all the Greeks? I'm not saying I shouldn't learn them, I have been doing that but I am just curious about how relevant they are for such a short term play (like 3 days).

I don't play the index options other than as portfolio protection, so the greeks are not important to me. I don't see how they would be particularly relevant in your swing.

If your using options to protect a stock position they're of limited importance at best. If your using an options only strategy (combinations, long and short etc) they are more important in determining strategy (which combination makes the best bet), price and time variables, and entry and exit points. If you are buying options in lieu of stock positions (buy a call or put) to make use of leverage, the value in the greeks is to help determine which strike has the best premium value. And if you want to arbitrage the difference between premiums the greeks are of value. IMHO

[darthtrader]

great post aiki14.
James, you should just get Natenburgs book. If your just going to straight out buy options, as aiki said, without the greeks you don't really know what is the better value on the chain. If the underlying is at 65 and your betting it will go to 70, it still might make more sense to buy the ATM 65 calls as opposed to the OTM 70 calls depending on the greeks.
You might want to get into option station for TS, i've never read much on that though. http://www.optionvue.com/ looks pretty sick too.