Stock Options

[The Shadow]

Hi,

Is it a requirement to add each stock option as an instrument in order to use it with NinjaTrader? I tried opening a chart by selecting option and entering the symbol but it gave me an error that said I had to select an instrument. Typing in a symbol name was not enough.

I assume it is a requirement since I don't see any way to specify strike price and whether it is a PUT/CALL in the order entry windows.

Thanks,

Matt

[NinjaTrader_Dierk]

Correct: you need to add the "option chain", e.g. on MSFT to the list of master instruments in the instrument editor and then can select actual options by exchange/strike price/put/call on the chart instrument dialog.

You don't need to add the completely specified option to the (default) instrument list, though.

[rmyrick]

Hello,

Can you tell me how to add the "option chain", e.g. on MSFT to the list of master instruments in the instrument editor so that I can chose a contract to trade. Also, can options be traded as easily as stocks or futures using ninja trader. Thanks.



Bob

[NinjaTrader_Dierk]

Please consult the docs on how to add an instrument (e.g. option) to the list of master instruments.

Yes, you can use NT to trade options.

[rmyrick]

Hello,

I have read and searched through the help guide and user guide and can not find any reference to adding stock option chains to the instrument manager data base. That is why I am asking. Please providemore detail to your answer. Thank you.

Bob

[NinjaTrader_Dierk]

- please see section Instrument Manager ->Editing Instrument for how to add a master instrument to the DB. Here you e.g. can set up an option chain.
Also: See predefined DAX option chain.
- please see section Instrument Manager ->Instrument Lists for how an add an instrument to your instrument list. Here you select the exchange, option price and put/call and finally add the option to your instrument list.

[rmyrick]

Hello,

Thanks for your reply. I have done that and still have a couple of questions. This method looks like I have to enter each contrac that I want to trade separately. Is there a way to view and enter a range of strikes at once or is it done one at a time. Also under the detail do I need to enter a ULR for each contract. Also which exchange do you list or can you just use the default routing. Thanks.



Bob

[NinjaTrader_Dierk]

- at that point you can not add a complete range of strike prices, you have to add option by option
- you need to select the exchange where your option is traded on. Usually a good starter is going by "Default"
- the URL is not mandatory

[rmyrick]

Thanks for your help. That should get me started.



Bob

[rmyrick]

Hello,

I have it set up now and it seems to be working. I need to adjust a setting to show the average option price in the basic entry window. Say I have 10 contracts at 2.50, it shows the cost as 250.00. What do I need to change to correct this.

Another qustion is: Can I add a postion strategy to an open position? Say I have 30 option contacts open and I want to add a strategy with three targets and three stops on each of the 10 contracts.

I need to do this since with options, I can't scale into a position if it hasopen orders already attached to it. I need to do it once I have my full position on. Thanks again.



Bob

[NinjaTrader_Ray]

Hi,

NT ASM Strategies havenever been tested on options and I am not even sure it will work. Although we do support option trading it is unofficial so...trying it out will be the only option, no pun intended.

Average Entry Price, do you mean the open PnL? If yes, for the point value of the option in the Instrument Manager, you would have to set it to the current value divided by 10.

[rmyrick]

Hello,

I am able to place an order with a stategy attached and that seems to work fine. How do I attach a stategy to anaked position that I have already opened?

Also, how do I change the price on an open order. Say I have a stop in at 1.65 and I want to change it to 2.35. I don't want to do it .05 at a time. Thanks.

Bob

[NinjaTrader_Vincent]

Bob,

If you have an open position without a strategy, you need to add a limit and stop order to protectthe position.

- Set strategy to <none>
- right click in the DOM and enable OCO order
- Then place a limit order where you want to exit at a profit
- Then place a stop order where you want to exit at a loss
- Then right click again and disable OCO order

Do you mean you want to modify your stop? If so, you need to make sure that 'Single click order modification' is set to True. You can check this by right click in the DOM--> Properties. Then left click on the the new price and your stop will be modified. More info can be found here:
http://www.ninjatrader-support.com/HelpGuide/ModifyingOrders.html


Vince

[rmyrick]

Hello,

I understand that NT has not been tested or programed to trade options. I mainly trade options now and have not been able to get NT to function properly for this purpose. I will have to cancel my account soon if it can't be corrected. Do you have any plans to correct this in the future and test and program NT to be able to trade options? I really like the program and am dissapointed that I will have to go elswhere for this service. Thanks.



Bob

[NinjaTrader_Ryan]

Hi Bob:

Thank you for replying.

Although options trading is possible within NinjaTrader, we currently do not offer technical support for users performing this action.

Best regards,

Ryan

[Phyre]

I'm having a very difficult time adding options or viewing them in a chart. I've searched both the help manual and this forum and wasted far too much time for something that should be point and click.

The options that I own are showing up in the instrument manager and I have added them to the default list but I still can't do anything with them. If I try to create a new chart I get an error. If I try to edit them I get an error because the name can't start with a + like +APVGS. +APVGS shows up as a stock and not an option in the instrument manager. Furthermore, no matter what I've tried while adding instruments as options has saved - ie when I select OK the dialog box goes away with no error and all of the information I've entered is never to be seen again.

Would it be possible for a step by step example be given for adding options for AAPL to be given?

[NinjaTrader_RyanO]

Hello Phyre,

Thank you for your post.

Unfortunately, NinjaTrader does not support options trading, which is why there is not a method for selecting options within the Instrument Manager.

[RedDuke]

Hi Ryan and Dierk,

Based on what Dierk wrote, it used to be possible to set up options chain. Has this been taken out? I no longer see an ability to set up the chain.

Also, is there any "back door" changes I can to to get options data displayed. I only need it for charting. I know you do not support options, but I would greatly appreciate if you can help with this one. I have been a user of ninja for a while. Any "back door" means, if they exist, will obviously be done at my own risk.

Thanks a lot,
redduke

[NinjaTrader_Ben]

Hello,

I will have someone reply to you on Monday. Thank you for your patience.

[NinjaTrader_RyanO]

Hi RedDuke,

Thank you for your post.

I have tested this issue, and have not been able to receive data, but it might be possible so long as you have the correct symbol mapping from your data provider.

You would specify stock as the instrument type and then the exchange. With that it may be possible to get data. If it is possible to get options data then the process for data would be much the same as any other type of instrument.

[RedDuke]

Hi Ryan,

I tired that, but it did not work. I am trying to display options on KOSPI 200 Index (K200). Interactive brokers symbol is K200225B0.KS for example, the options are traded at KSE. I get instrument unknown error. I think IB needs to be told that this is an option. There is a drop down for option when instrument is created, but it can not be saved. Any other idea?

Thanks,
redduke

[NinjaTrader_RyanO]

Hi Redduke,

Unfortunately, my suggestions are the extent of the support I can offer. The best thing you can try is to use the extended symbol mapping in the Misc tab of the instrument manager.

However, when I test this I am unable to receive data, and am not able to save the option settings.

[RedDuke]

I tired all possible combination and all failed. I guess the instrument needs to be flagged as option otherwise the broker's api does not understand what is being asked.

Thanks,
redduke

[NinjaTrader_RyanO]

Hi Redduke,

Yes, unfortunately, with Interactive Brokers I was never able to receive data, either.

This is likely because how to define options in IB's TWS application and the inability to do so in NinjaTrader.

I will say that I am not sure if this is the case with other data providers.

[RedDuke]

Ryan,

Thanks for your help. The correct symbol that needs to be sent to IB to receive data is K200220B0.KS-OPT-KSE (feb 2010 call, strike 220 for kospi 200 index), for example. I guess instrument manager is coming up with a different combination behind the scene, and no mater what I tried, the data load fails.

Regards,
redduke

[NinjaTrader_RyanO]

Hi RedDuke,

I continued to try and receive data for that option, and manipulating the symbol mapping does not make a difference regardless of what I try.

Beyond that I am unable to suggest methods, but rather than the dashes you may want to use a vertical line to separate different sections of the symbol mapping, like the following symbol (|).