Dublin, Ireland -- (SBWIRE) -- 11/22/2013 -- One of the ways to review risks, rewards and probabilities of various option strategies is with - free options screener / backtester - Oscreener.com. This web-application raises the bar with its ability to screen the options market and provide pre-calculated results for you to find higher probability strategies.
Many prominent brokers provide paper trading services for beginners to learn options trading. However, placing paper trades every month and wait untill options expire can take years of practicing. Options backtesting, on the other hand, displays historical performance metrics right away with clear entry and exit positions, thus allowing you to analyze and optimize your trading.
Oscreener was built to facilitate a growing need to test core and complex option strategies and provide user friendly results. Students and active traders can benefit from this service by checking how various option strategies performed in the past and speed up educational progress by analyzing continuous performance results.
Oscreener also makes options trading easier by allowing you to screen the entire market or predefined ticker portfolios within a selected strategy. You can also specify budget per strategy and length of the trading cycles (number of days before each expiration date). The backtester engine will auto-apply selected screening parameters to historical data and demonstrate performance results. Traders can also specify greeks, volatility, technical analysis and review performance results while tweaking various parameters.
Oscreener can help with the following:
1) Save time and avoid miscalculations by screening through predefined option strategies
2) Backtest trading ideas, explore new markets and option strategies
3) Setup custom alerts to notify you when interesting strategies are available again
4) Review return on risk, breakeven points and remaining time on charts per each strategy without complex coordinate systems
Options contracts provide leverage and more flexibility compared to stocks or futures. You can design a strategy that is anywhere in-between high-risk and ultra-conservative. Option traders can take advantage of the situation even when the price goes against the expected direction. For example: in-the-money Bull Put Spreads or Short Put strategies may be profitable when stock price goes up, remains stagnant, or goes down a little bit. Option strategies combined together with a technical analysis and smart stock selection may drastically increase the chances of continuous-successful trading.
Those of you who are just learning options should avoid guessing and gambling while trading options. Even professional gamblers prefer not to use the word "luck" when evaluating their methods. Instead, they choose to say: "Favorable return period" or "Positive aberration." That's because they see every game as a calculated risk with all decisions based strictly on the best probability of profit. One must use the same "no-nonsense" approach in evaluating options trades; gathering the following statistical information is crucial: maximum risk and reward, probability of profit, expected return, and breakeven points. It is also wise to backtest preferred strategies and analyze statistical and historical profit probability before risking any capital.
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