I am begining a series of videos to clarify how to find candidates and enter PCCRC positions in TOS and IB.
In this video, I am showing you how to create a Scan Query to locate Candidates in Think or Swim.
http://pathometrix.com/Movies/PCCRCTOS.mov
Do you want to set up a query using Interactive Broker's Trader Workstation? Check the video below. By the way, it also shows you how to create a PCCRC trade, and quickly checking the IV profile of the options in question:
http://pathometrix.com/Movies/PCCRCIB.mov
For those of you experiencing problems downloading this video because it is too large, please download the following .zip file. Save the file to your desktop when prompted by your browser. This action may take a few minutes, so go have a cup of coffee while the download completes. Once the zip folder appears on your desktop, right click the PCCRCIB.mov icon and choose open. It shouls start playing immediately. You may normal size from the View menu so that the image is shown without distortion. Please let me know if there are further problems.
http://pathometrix.com/Movies/PCCRCIB.mov.zip
If you find the PCCRC too complicated or capital intensive, perhaps you may want to look at my basic put/call strategy:
http://stockofthedayii.blogspot.com/
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Important note from Dave:
Dave said...
Juan, You can form PCCRC position in TOS easier than you showed in video. Holding Ctrl just click twice on longs ASK and then once on shorts BID.
Juan said...
I have verified that this is indeed correct. I suppose you save a few clicks by doing this. You can also choose to buy different strike prices using this technique. Thanks Dave.
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6 comments:
This is perfect. Thank you very much. Can you look at my comment using ivolatility.com for IV and SV. I notice there is a "cross" between HV and IV if IV/HV < 1. Is it correct?
Juan,
Thanks for providing this development. I shall review this information and comment later.
Best Wishes.
Juan,
I am having problems opening the video;
http://pathometrix.com/Movies/PCCRCTOS.mov
I get your introduction and then it stops for some reason. I have tried a number of times at different times in the day, but to no avail. Any chance of a copy of the DVDs you are going to produce?
Fortitude42@gmail.com
Hi fortitude, nice to have you back.
The video is quite large. I have posted a copy which is .zip compressed and that takes 30 min to download in my cable modem connection. See how it works for you.
I am spending quite a bit of bandwidth in posting videos, as well as disk space. I might create disks and ask for a contribution or give access via e-mail to those willing to help with the cost of this effort. I don't want to make money out of the participants of this blog, but a contribution would be nice.
I'll think about that some more.
Juan,
Thanks for the reply. This morning as luck would have it, the file opened and I was able to view it alright.
However, I still think a DVD production worth obtaining. I don't know what others think, but I would be happy to contribute to the cost.
Thanks again.
Hi Juan,
Once you wrote: “ The Think or Swim platform gives you very good risk graphs, the problem is that once you make an adjustment to your trade, the picture does not take into consideration all portions of the trade, past and present.”
I think you will like this:
1. Go to ACC’T STMT Tab
2. Open Trade History
3. Find all trades related to current position. You might need to enter stock symbol into the box to filter out other trades, and change dates viewed.
4. Right click on initial/opening trade and choose Analyze Duplicate Trade. It will create simulated trade with locked entry price right under real/existing(black) legs in ANALYZE Tab.
5. Uncheck all real /existing legs
6. Go back to ACC’T STMT Tab and do Analyze Duplicate Trade for each adjustment trade for this position.
7. At the end you will see the magic ;) real time risk graph for current position.
There is a small issue there. When you detaching ANALIZE tab simulated trades are not there.
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