++OT++ Need Opinion on Option Station, BMI, Etc
Your site seems closest to my trade style, evolved over 3 years. I trade at home, low 6 fig account,sweep gains to other other investments to cover retirement, etc. But, I have tech question and thought Sat. may be OK.
I trade low priced calls on Big Cos, using gamma, change in Delta to help protect downside, and + change to augment upside. Usually hold 5 days to 2-3 weeks, usually 8-10 positions. Roll up at +200%. Trades lately cautious tech,Dell, Nokia, Drugs, JNJ,U,LU, some bottom fishing, VLSI, KLIC or earnings, JBIL. Up 60% in '98, 200+% in '97. This info just for reference to help answer the following:
I have BMI cable feed on 1 machine, with MKTCTR Platinum. 2nd box for Web info and trading, bookkeeping on Quicken etc. I have 3rd box, portable, not in use. BMI is good for realtime stock quotes, but options updates are hours old, and then only if a trade goes thru. I can calculate delta, gamma, implied in my head fast enough to defend myself from MM's, somewhat.
I got trial copy of OptionStation, sitting in the box (I do not trust their salespeople, have caught them lying or ignorant too many times) Now BMI tells me I can only feed their program, OR OpSta, not both. My question is: Should I bother to install, train myself, etc.
1)If OpSta is the only program getting fed by BMI, without another license, will it serve all of my needs? such as watching 50 stocks, volume, real time portfolio value, etc.
2)If OpSta gets 2-3 hour old option quotes, and fresh stock quotes, any vol calculations will be Wrong! (worse than delayed)
3)I could use end of day quotes to calculate "best" plays, but MM's publish wide bid-ask's, etc, so these sophisticated searches will also be misleading.
Is OpSta worth the trouble if I'm not intending to use straddles, spreads, etc?
Is there a better source of realtime options quotes than BMI? Suitable & Available to home in Rural VT?
Any advice from users will be appreciated. |
