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OptionNET Explorer

TOP 10
www.optionnetexplore..
Category: Software
Advanced options analysis software designed for the retail trader. Backtest strategies, manage open positions and report performance.
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OptionNET Exploder
I’m using OptionNET Exploder for about 3 years now for trade management, administration and back-testing. I’m using it in combination with the ThinkOrSwim platform for a live quote feed. Also, the import function from the TOS account statements is very practical. I have used several other Option analysis applications, but this one is by far my favored. I recommend it to every serious optiontrader.

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Options Analysis Software
I use OptionNet Explorer daily. For anyone trading options, it is indispensible! It gives a very clear picture of even the most complicated options positions, including those involving shares of the underlying issue. I use it to evaluate new trades, as well as to track and adjust existing trades.

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MikeW Mill Creek, WA

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Great tool for serious options traders
I have been using ONE software for 3 years now. I can say it definitely changed the way I trade and analyze potential trades.

Comparing ONE and TOS, TOS looks like a tool from the previous century. ONE gives you so much more. Historical data gives you 5 minutes intervals. You can look at P/L of the trade and project how it will look for the whole duration of the trade. You can change the IV and see how it impacts the trade. And so much more. The backtesting abilities are priceless.

It also has very good reporting feature. You can group reports by account, by underlying, by expiration etc.

Customer support is excellent. All issues are addressed very promptly and professionally.

I believe it's a must tool for any serious options trader. I highly recommend the software to all my members.

Kim Klaiman

https://steadyoptions.com/

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Finally, very good intraday analysis
I have been trading for quite a few years and I've used many software packages and I find OptionNET Explorer to be a very good analytical package. All trades can be structured and backtested with very good resolution. Some statistics are available to evaluate performance.

I use IB to place trades and ONE communicates very well with IBs API. I can build my trades and actually see a good risk graph along with greeks and I then have a pretty good idea of how the trade will perform given certain market conditions.

I'm salivating at the prospect of a future (now in BETA) automated strategy tester. I find the publishers are constantly improving the software.

In short, definitely check this out before you go to another offering.

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Indispensible software for trading options
I have been trading options for a number of years and have used a variety of analytical software packages. OptionNET Explorer (ONE) is far and away the best, especially for the modest price.

I structure all my trades and adjustments on ONE before I place them with my broker. ONE allows me to follow my trades accurately. While it is true ONE doesn't currently have a "scan" feature, I personally (and I bet many, if not most traders) limit my trades to specific underlying vehicles that I know well so have no need for a scan function.

ONE does have a number of uniquely helpful features. One in particular that I use is the ability to reflect commission costs both in and out (called "round trip"). Thus the reflected PnL at any one time for any particular trade is "net" to me (which is the only PnL aspect of a trade that I am interested in).

ONE's reflected PnL for every trade incorporates all mid trade adjustments.

ONE's "Risk Profile" has a number of visual options that make following a trade simple and accurate.

The back trading feature is outstanding and was created to facilitate the teaching experience for Sheridan Mentoring students.

Customer service is outstanding. Replys are prompt and remedies accurate.

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It analyses and back tests option trades.
From the beginning, the proprietor was always receptive to suggestions to improve it and now it is possibly the best software available for analysing option trades. It is very user friendly, has a great support team and is great value for money.

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Don't trade options without it
I have used a lot of trading software over the decades and provided technical support for a very large retail broker platform for many years. When I started trading options I used OV because it was the only serious options trading software. But after using ONE, I wouldn't trade with anything else. The ability to go back in time and simulate actual trading with the actual screens you use daily is an awesome feature. If you want to see how you would have performed in a period of time you can look at the market, find a time you think is comparable to the one you are facing, and start placing trades. How did you do with those adjustments? Not so well? Figure out how you should have approached it, delete the trade, and do it again. It's the equivalent of putting 1000's of trades under your belt in a short period of time and without risking real money. When you have made that trade a habit you are better prepared when you put real money on the line. And then, when you trade for real, you are looking at the same screen and doing the exact same thing as when you practiced. Only now you have an idea of what to expect and can keep the emotions in check because you can say "been there and done that".

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Trade tracking and backtesting software
I came upon ONE through Sheridan Options mentoring. I have enjoyed both products very much but I have possibly learned more from ONE which gives you the ability to backtest ideas to separate the wheat from the chaff. For those interested in option trading, I could not recommend it more highly. It is almost always up and in the rare occasion that it goes down(maybe 3 times in the 4 years I have used it). I get an email response within minutes with a solution.

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Fanstastic software- Great Speed & Historical Data
I received Option Net Explorer several days ago. I am enjoying every minute using this software!

Very professional, great clarity, very good speed, etc... I especially enjoy how I can review past trades, retrieving actual historical data on any given stock or index within seconds!

Downloading the software was effortless and flawless. I would highly recommend this product to anyone that is tired of using their current broker's P&L graph, re-entering numbers all the time, going to different screens, manually changing the option numbers to reflect the numbers you had the day you entered the trade, etc. Another great benefit of this software is, once you enter a historical trade you made, you can press "commit trade" and Option Net Explorer will store this trade in memory--- meaning no more re-entering numbers and re-do-ing the whole P&L graph again with your current broker when you want to see how your trade is doing several days/weeks later!

If contemplating whether or not to get this software...why wait any longer ? You've got to try this product ! I don't think you'll be disappointed.

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Not impressed
I have used several options analysis software before, including Optionnet. Let me share my opinion on this software, comparing it with Optionvue, which is what I'm using now.

Backtesting

+ Easy to use. Good UI. Speed is fast. OV on the other hand is kind of out dated in its user interface.

- Optionnet P&L graph too simple. Can't superimpose trades like OV. Can't analyze individual T+n lines neither.

- Limited number of stocks and indexes. No futures at all. That's too limiting for me.

- Intraday data only for a few years. For older dates, optionnet only includes end of day data, which is quite useless and unreliable in back testing in my opinion.

Position Tracking

+ Optionnet does a good job tracking positions though

- But reporting capability is quite weak compared to OV.

Option Analysis

+ Optionnet offers simple greek analysis. Good enough for beginners

- But fall short for more advance traders, especially those who need accurate IV modeling. Optionnet assumes fixed IV, just like TOS. That's quite inaccurate because in real life, IV does change when market either moves up or down. I couldn't rely on the greeks in Optionnet to assess my actual risks. This is one of the main reasons why I switched to OV.

Option Scanner

- Optionnet doesn't have a scanner at all. Most other commercial options analysis software I know of includes some kind of scanner to help traders find trades based on their strategies.

Overall, I would say Optionnet is good for beginners. However, if you are serious about trading options professionally, in my humble opinion, you probably need something more advance.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Displaying 1-10 of 15 Total Reviews
 
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