|You're The Options Expert
|OptionVue version 8.14 started shipping February 25, 2017.
1. We made the new Trade ID selectors in the Matrix and elsewhere display Trade ID’s in alphabetical order. Previously the Trade ID’s
would appear in the order in which they were encountered in the T.Log.
2. We provided a way to bypass the first several weeklys, so that the Matrix will not display them and the symbol count is reduced. It is a
new drop-down selector in the Define AutoStrike form.
3. In a recent release, we made it so the Date field in the BackTrader panel would remain “focused” after changing the date using the
bracket keys on the keyboard so that the program was ready to receive the next bracket key keystroke. This had the unfortunate side
effect of making it so you had to click twice on anything in the Matrix in order to achieve the desired action. So we rescinded this feature.
4. When working with the regular Graphic Analysis (not side-by-side), if you change the size and position of the analysis form, then close it
and re-open it, it opens with the same size and shape as before. (Asset specific)
5. When a side-by-side Graphic Analysis is open and the user changes something in the Define window, the program keeps the Graphic
1. There remained a few problems with the new Trade ID and R Code selection methods in the Matrix. These were solved.
2. In Graphic Analysis, when using snap-to-dot and when the expiration line was selected (highlighted), the P/L numbers in the bottom
section could be wrong. This was corrected.
3. With a Matrix open, after using the Account selector in the program’s main menu to select a different account, it was necessary to click a
button in the Matrix twice before it would take effect. This was corrected.
4. When using TOS for quotes and the user begins to type an entry into an open Matrix, the program was supposed to suspend quotes
reception until the user finished typing the entry, but it turns out that quotes reception was not truly suspended. Now it is. In addition, the
program now suspends TOS quotes reception when typing in the T.Log.
5. In Reports | Performance Graph, among the figures in the bottom section, the Max Percent Drawdown amount was often incorrect. This
problem was corrected.
OptionVue version 8.13 started shipping January 30, 2017.
1. We changed the way the program works when both Trade IDs and R codes are used. In Account Status and Reports, positions are
grouped by Trade ID without regard to R codes. In the Matrix, which has both a Trade ID selector and an R code selector, the following
When the R code selector is set to ALL, the positions displayed in the Matrix, plus the gain/loss and greeks displayed in the summary
section, will reflect the currently selected Trade ID and gain/loss will include any previously realized G/L’s that are tagged with this Trade ID.
When the R code selector is set to something other than ALL, the positions displayed in the Matrix will be an appropriate subset of the
currently selected Trade ID position and the greeks will reflect the displayed position. Gain/loss will include only the trades tagged with the
currently selected Trade ID and the currently selected R code(s), and previously realized G/L’s that are tagged with this Trade ID and this
set of selected R code(s).
2. We now accommodate the new Monday and Wednesday weeklys in the $SPX, and the new Wednesday weeklys in the SPY. We have
not yet accommodated the new Wednesday weeklys in the ES because of the difficulties in dealing with the strange symbol format the
exchange invented for these.
3. When using IB or TOS for live quotes, in the Matrix the program now gives top priority to any options in which there is an existing position
or a trade and collects quotes on them non-stop. The underlying(s) too.
4. The list of parameters that can be exported now includes Time Premium.
5. Changes were made to accommodate the relatively new NQ end-of-month options.
1. In Graphic Analysis, repeated clicks on the snap-to-dot button caused the vertical axis to scale larger and larger. This was corrected.
2. When there is a position in a stock whose symbol contains a period (e.g. BRK.B), the Account Status form was not showing any beta
number associated with that stock. Now it does.
3. Importing IB trades into the T.Log where the fields are delimited using semicolons was not working. Now it does.
OptionVue version 8.12 started shipping December 23, 2016.
1. In Graphic Analysis, there is a new (3rd) choice for how the line legend is displayed: DTE (number of days till expiration). This can be
selected in Preferences | Graphic Analysis.
2. The snap-to-dot mode in Graphic Analysis would be reset with every auto-update unless the checkbox “Persist T+0 line snap to Graham
dot” was checked. We changed this, and now auto-updates never reset the snap-to-dot.
3. Also, the snap-to-dot mode in Graphic Analysis would be reset whenever the user clicked to highlight a different line or changed the
number of lines. We realized this was unnecessary and we stopped it from happening.
1. There was a “memory leak” in the program that could cause the system to display the “Out of memory” message after a couple of hours
of collecting real-time quotes while a matrix was open. This was solved.
2. There was also a “memory leak” associated with just opening and closing a Matrix. This was solved as well.
3. When opening and closing transactions were recorded in the T.Log using separate and distinct R codes, the G/L displayed in the
Summary section of the Matrix could be wrong. This long-standing problem was solved.
OptionVue version 8.11 started shipping December 14, 2016.
1. When finished importing earnings plays information, the program returns the Quotes Display to the tab that was active at the time.
2. In Graphic Analysis, the position description abbreviation setting is now permanently remembered by asset.
1. We fixed several problems related to the new Trade ID field and the R code selector.
Note: As you begin to use the new Trade ID field, if you want to see the Reports area of the program group trades by Trade ID, it will be
necessary to first go into the T.Log and fill in Trade ID’s for all your past transactions that you want so categorized. Remember to use Ctrl-
D (ditto) to copy from the cell above. It can be a big time-saver.
Also, to display Trade ID in the Reports or in Account Status, you must open the Format dialog and add Trade ID as a displayed column.
OptionVue version 8.10 started shipping December 9, 2016.
1. A new “Trade ID” field was added to the Trade Log (on the far right) and can be used to help group a series of trades that are meant to
be considered a single “campaign”. Trade IDs can be used just like R codes except that a Trade ID can be up to 40 characters in length.
Also, unlike R codes, Trade ID’s can be used to group two or more separate trades even if those trades were not contemporary.
We are hoping that users will switch to recording all of the transactions that take place in a single brokerage account in a single OptionVue
account, or at least all of the transactions in that brokerage account during a calendar year. That way the user can make use of OptionVue’
s aggregate performance reporting, including a historical graph of account value and an analysis of how various trading approaches, as
coded using the Strategy and Class fields, have performed.
In the Matrix, there is a new drop-down for choosing a single Trade ID to be displayed. By default this is set to “ALL”, in which case all
existing, open positions are displayed. This new Trade ID selector is only visible if the user is making use of the Trade ID field when
OptionVue groups trades primarily by Trade ID and secondarily by R code. In the same way, when selecting a particular trade to be
displayed in the Matrix, the program selects primarily by Trade ID and secondarily by R code. If a user never begins using the new Trade
ID field, OptionVue will behave exactly as it did before with respect to the R codes. Trade ID selectors are also available in the T.Log and
Trade ID is available to be displayed in a new column in Account Status and Reports. To cause it to be displayed, open the Report
Formats form by clicking the Format button in the upper left area of Account Status or Reports, find Trade ID in the list and checkmark it.
You may also move it into the desired position among the other columns of the report.
At the bottom of this page you’ll find additional explanations and a table summarizing the program’s grouping logic with respect to Trade IDs
2. An optional new Prepare Trade Entry form appears when converting a trade, allowing the user to enter a Trade ID and/or fix up other
details about the trade before placing it in the T.Log. To turn this feature on, go into Settings | Preferences, and in the Portfolio Manager
section, check the new checkbox for this.
Included in this new form is a Market Gauge which displays the combined bid/ask of the trade and the suggested At Price according to
OptionVue’s slippage model. The Market Gauge, which updates in real-time, can help the trader determine a good limit price when placing
3. If a Matrix is open and the user opens the T.Log and imports one or more trades, the program will automatically check and add strikes to
the Matrix if necessary to cover all open trades.
4. In Preferences | Graphic Analysis, a new choice was added to allow users to automatically highlight the 2nd line.
5. When the user wants to go into BackTrader mode, we made it so the “back one day” button works to start BackTrader mode. That way,
let’s say you want to go 5 trading days into the past. You can just click the button 5 times.
6. When using IB for quotes, the interface no longer uses any symbol count while quotes are suspended.
7. When converting a trade that closes an existing position and this position was opened using a series of two or more trades, the program
has always automatically assigned an R code to the closing trade that matches what was given to the first opening trade for this position (a
FIFO approach). We have changed this to a LIFO approach. The program now automatically assigns an R code to the closing trade that
matches what was given to the most recent opening trade for this position.
1. For some customers, the program was not updating Price Charts. We corrected this problem.
2. If you closed the program while in BackTrader mode, it would have quotes suspended when re-opened. This was corrected.
3. In BackTrader mode, if you had a spread window open and changed to a different date, the program could crash. This problem was
4. In situations where two or more users share common files in a network folder, the program uses .lok files to keep track of files that are
currently held open. In some situations it was possible for .lok files to be inadvertently left there, causing accounts to be locked. This
problem was resolved.
5. The program was using today’s interest rates for all times in the past. This was corrected.
OptionVue version 8.05 started shipping November 8, 2016.
1. A new “Days in Position” column is available to be displayed in Account Status and in the realized and unrealized gain/loss reports.
1. The program could flash the ribbon bar on/off at odd intervals of time. This has been corrected.
2. When renaming an account, the new checkbox “Duplicate current account settings” was displayed. This was inappropriate and we took
it away. Now it only appears when starting a new account.
OptionVue version 8.04 started shipping October 28, 2016.
A special note to BackTrader users: See the results of our research, plus helpful tips, below.
1. In BackTrader mode, when OptionVue was finished getting prices from NetVue it would always write the data to a local archive file. While
doing this, the message “Update complete” could linger for several seconds. Now, it says “Storing to archive” so you have a better idea
what is actually happening.
2. Ever since we implemented the approach of storing local data for BackTrader, OptionVue would always store a local copy of data
gathered from the server – both data for any open Matrixes and for the Quotes Display. But this takes time. It can take several seconds to
write this data to disk. So we made this switchable. In Settings | Preferences | BackTrader, there is a new checkbox for this.
3. With respect to the new strike interval setting for the $SPX – all 25s and 10s – we added one more variation on this – one where all
strikes ending in 20, 30, 70 and 80 are excluded because these are so close to a 25x strike.
1. The side-by-side Graphic Analysis was not updating automatically when changes were made in the Matrix, when the account was
changed, etc. This was corrected.
2. When using IB quotes, several users were experiencing that quotes reception would unexpectedly stop. This problem was solved.
3. When introducing several new hotkeys in the previous release, we inadvertently replaced two existing ones. Ctrl-M used to cause
current market prices to be copied into the Original Price fields for all position legs in the Matrix. Now, Ctrl-C does that. We have Ctrl-M
opening the Model form. The other situation was that Ctrl-T has always been for copying all theoretical prices into last prices in the Matrix.
We need to keep it that way. Ctrl-L is the hotkey for opening the T.Log now. And we made Ctrl-Q toggle the matrix legend on/off.
4. In Graphic Analysis, when the Smallest Font setting (in Preferences) is 8 point, the Greek numbers in the bottom section would overlap
and become unreadable. This has been corrected.
We have researched why BackTrader takes extra time to update the screen in many circumstances. First we will discuss the Matrix and
then the Quotes Display. It is important for you to see this broken down into the steps involved, and when talking about the statistics for a
particular asset we will be talking about the SPX, as this is the most challenging asset by far.
When you have a matrix open and you start B.T. or change to a different date/time in B.T. mode, the following things happen:
1) The program looks in the local archive folder to see if a data file is available for the particular asset at the specific date/time. If it finds
one, it reads the data into the matrix. If that file was downloaded from the OptionVue website, it can take 6 seconds or more to read the file,
as the file contains all of the available options on that particular asset up to the large strike extents. Otherwise, if the file was “home
generated” then it is usually smaller, containing just the options you’re interested in, and can be read in a shorter time.
A) Then the program checks the matrix to see if two or more strikes have blank prices across all available expirations, or if two or more
expirations have blank prices across all strikes. If this is true then the program considers the Matrix insufficiently filled and it asks NetVue
for prices on all the options (and underlyings) in the Matrix.
B) If the above step needed to be done, then the program automatically stores a local archive file for this particular asset and for this
particular date/time. If a file already existed then it gets overwritten. (And now, for the first time, there is a preference setting allowing this
to be turned off.) The time it takes to write this file can range anywhere from 2 seconds for a moderate-sized SPX matrix (1,500 symbols) to
8 seconds for a huge (4,000 symbols) SPX matrix.
2) If no local archive file is available for the particular asset at the specific date/time, the program asks NetVue for prices on all the options
and underlyings in the Matrix. This can take 2-4 seconds for a moderate sized SPX matrix or 4-8 seconds for a huge SPX matrix.
A) Then the program automatically stores a local archive file as described in (B) above.
3) Now for the Quotes Display (QD), which actually gets updated prior to any open matrixes. The program looks in the local archive folder
to see if a file is available for the QD at the required date/time. If it finds one it reads the data into the QD. This can take anywhere from
0.2 seconds to 4 seconds, depending on the number of symbols stored in the file and your computer’s speed.
Bottom line, the following steps will help BackTrader work faster:
1) Minimize the number of symbols in the QD; we recommend 200 or less. Note that closing the QD during back-trading is always an option
and helps B.T. work even faster. To re-open the QD, right click on the program’s title bar at the very top and select Open Quotes Display
in the drop-down menu.
2) Minimize the number of symbols in your SPX matrix. We recommend using the new “25s and 10s” strike interval setting. And minimize
the number of weeklys you have defined, especially if you don’t care to trade them.
3) You may want get rid of any block-downloaded SPX archive files obtained from our website and collect archive files yourself using
OptionVue’s (menu) Data | Collect BackTrader Data feature. You can set this up and let it run unattended for hours. The resulting files
are smaller and are accessed quicker.
4) If you are exploring a time period in the past for which you do not have local archive files, and you don’t want to take the time (right now)
to collect local archive files, uncheck the new checkbox so that no time is spent storing data to these files as you work.
OptionVue version 8.03 started shipping on October 21, 2016.
1. We added several shortcut keys.
In the Matrix:
Ctrl+D = Open Define window
Ctrl+M = Open Model window
Ctrl+MV = Open Model Volatility window
Ctrl+L = Toggle legends on/off
Ctrl+F = Open Format window
Ctrl+N = Convert trades
In the Main Form:
Ctrl+R = Open Reports
In BackTrader Mode:
Ctrl+PgUp = Previous Day
Ctrl+PgDn = Next Day
2. When creating a new account, new checkboxes allow you to duplicate all the settings of the currently active account, and optionally copy
all of the T.Log transactions.
3. In Preferences | Graphic Analysis, there is a new setting that governs whether the Max Projection Date will, by default, be the nearest or
farthest expiration date involved in the position. There is also a new checkbox for always making the 2nd line be T+1.
4. Graphic Analysis now remembers your horizontal axis settings for the rest of the day, and we added Vega to the histogram view below
5. When working with the $SPX or ES, we added a unique new choice under Define | AutoStrike | Strike Intervals: “Display 10 and 25 point
6. In the Matrix, we made the strike highlight box a bit bolder.
7. For our VXX Traders, the $YVD (danger indicator) is now updating live. In addition, when viewing the $YVI and $YVD in the lower section
of a Price Chart, we made it so today’s value for these two indicators (represented by today’s red bar) comes from the Quotes Display if the
Quotes Display has these. If the Quotes Display does not have them, the program computes today’s values internally (as it always has).
8. In Account Status, for a long time, options nearing expiration have had an indication displayed next to their description (e.g. “x5”). Now
any options beyond expiration will have “xpd” displayed next to their description.
9. We improved the way the Account Status and summary section of the Matrix display very large numbers.
10. In BackTrader mode, with a matrix open, if you switched to a different account and that account had a position that needed to be shown
in the matrix, if the matrix did not already contain all the strikes and expirations necessary to cover all the legs of the position, then one or
more legs of the position could be missing. Now, when switching accounts, the program automatically reconstitutes the Matrix to include all
the legs of the new account’s position, plus filling in any prices as needed.
11. From now on, historical price files are stored using the name extension .csv instead of .asc. And the format of the date field was
changed to a more human-readable and Excel-readable format. As a result, historical files are readily importable into Excel.
12. We changed the dividend model for ETFs to use discrete scheduled dividends instead of a smooth, continuous dividend yield.
1. Account Status could display incorrect Today’s Change numbers for currently open positions, especially after having changed the sort
method to By Expiration and then back to Alphabetically or Chronologically. This was corrected.
2. When using TOS or IB for live quotes, and a side-by-side analysis window was open, the program was regularly recalculating the
analysis, even if the Auto Refresh checkbox was unchecked. This was corrected.
OptionVue version 8.02 started shipping September 30, 2016.
1. We began adding some keyboard shortcuts (hotkeys) in response to customer requests. The F2 key opens online help. Ctrl-A opens
the standard Analyze Graph, Ctrl-S opens the side-by-side Analyze Graph, and Ctrl-T opens the T.Log. We are open to suggestions for
2. The Probability Calculator was made to pick up current data from an open matrix when you click any of the paste-in buttons. (Previously
it would pick up a snapshot of current data from an open matrix only at the time you opened the Probability Calculator).
1. The side-by-side graphic analysis made a “beep” sound every 5 seconds when it is time to do an automatic update. This was put into
the program temporarily for debugging purposes and we forgot to remove it prior to the release of 8.01. We removed it.
2. In the previous release, in the Matrix summary section, we changed all of the dollar amount fields to allow them to use K and M to
automatically abbreviate large numbers. However, our changes made it so the Transaction Log could display dollar amounts
inconsistently. This was corrected.
3. In certain circumstances, when converting a trade in a weekly option, the new record in the T.Log would have a “Q” or “M” in the
description field. This was corrected.
4. Currency options were having an October weekly automatically defined that didn’t really exist. This was corrected. Also, we updated our
servers to comply with the new exchange specifications for currency options and started receiving quotes on the weeklys again.
5. Nearby weeklys in gold and crude were not being automatically defined with the correct symbol. This was corrected.
6. When hovering the mouse over the red X in the BackTrader panel, an inappropriate hint (“Crop Estimate”) was displayed. This was
OptionVue version 8.01 started shipping September 2, 2016.
1. In the Matrix, we took away the Hide/Show Matrix Toolbar button and instead made this an item in the menu that opens when you click
the small icon in the very upper-left corner of the Matrix. This menu item toggles between “Hide Matrix Toolbar” and “Show Matrix Toolbar”.
2. In the Matrix summary section, we changed all of the dollar amount fields to allow them to use K and M to automatically abbreviate large
3. Among the Price Chart indicators, we changed the minimum allowed number for MACD’s first parameter from 5 to 2.
4. In the T.Log import wizard, we changed the field named “Trans Type” to “Code” in order to match the column name in the T.Log, and we
changed the field named “Placeholder” to “Skip” to be more consistent within the wizard itself.
1. If the user has chosen to not display the BackTrader panel all of the time, when leaving BackTrader mode the BackTrader panel should
go away, but it wasn’t. Now it does.
2. On some computer screens, the OptionVue icon in the upper right was not fully visible. This problem was solved.
3. When using the calendar date-picker to choose a date for BackTrader, customers found that if they clicked rapidly several times when
scrolling through months, the calendar would immediately close and the returned date would be the 1st of the month in view at the time.
For the purposes of OptionVue, the intention was to let a user double-click a particular day in the calendar as a way of selecting that date.
However, this not-so-well-designed calendar control from Microsoft doesn’t distinguish when you’re scrolling through months and when you’
re picking a day. Therefore we had to disable the double-click response. To pick a particular day, click on the day and then click the Ok
4. When the detailed analysis was set to Market Maker Style and a position was graphically analyzed, a range check error would happen.
5. With ES, NQ and SP options, standard options in the off-months (Jan, Feb, Apr, May, Jul, Aug, Nov and Dec) were not being defined with
the correct symbols. This problem was corrected.
Introducing the New OptionVue 8
OptionVue version 8.00 started shipping August 26, 2016.
This release marks the introduction of the next generation of OptionVue – OptionVue 8 – with a whole new look and feel. Taking steps to
give OptionVue a more current look, we changed the structure of the main menu and several other things about the program’s appearance.
1. The program’s main menu was replaced by a ribbon-style menu with all new button images and slightly different functional groupings.
We believe users will like it. And although it might take a while to get used to where things are now, in many cases it takes fewer mouse
clicks to get where you’re going.
One final point about the ribbon-style menu. When you select a tab other than Home and then click to select one of the items, the program
automatically reverts to Home after a few seconds, for your convenience. However, when you wish the menu would not automatically revert
to Home, simply double-click the tab rather than single-clicking it.
2. The BackTrader control panel is available all of the time now in a fixed location of the main toolbar (for those who have a BackTrader
subscription). However, if a user would rather keep this new control panel out of sight until needed, it is possible to go into Settings |
Preferences | BackTrader and uncheck the box there. With the box unchecked, the BackTrader control panel appears only when called for
by selecting Data | BackTrader from the new menu.
The BackTrader control panel no longer contains a Start button. Instead, just entering a date starts BackTrader. This initial date can be
selected using the popup calendar or brought in by clicking a new button (“<”) that sits inside the date field as long as the date field is
empty (has no date). If a Price Chart is open with a wand showing, clicking this button brings in the date represented by the wand.
Otherwise, clicking the button brings in the previous trading day.
To leave BackTrader mode, click the red X in the upper right part of the panel. Note that while in BackTrader mode, the BackTrader
control panel has a blue tint. When not in BackTrader mode, the panel has a more ordinary silvery color.
3. Further along the lines of making OptionVue look more current, we lightened up all the various gray areas throughout the program,
removed unnecessary buttons and irrelevant items, added helpful hover hints, and much more.
4. A new button in the upper left corner of the Quotes Display opens the drop-down menu which contains all of the items that were
previously under “Edit” in the old OptionVue menu.
5. Note: If a window ever goes out of sight beneath another window, simply right-click OptionVue’s main title bar (or left-click the little
program icon in the upper left corner) and in the drop-down menu that appears, click the name of the form you wish to bring back to the
6. Finally, we want to point out that the changes made in this upgrade were almost entirely cosmetic. No functional changes were made
(except those fixes noted below) in terms of data interfacing, models, calculations and other functions.
1. Graphic Analysis could produce an integer overflow error if any transactions in the T.Log having to do with the trade being analyzed had
a zero price (which the never should). This was corrected.
2. Also in Graphic Analysis, any change to the T+n line dates was soon lost when the Graphic Analysis automatically recalculated. This
3. In the previous release, a mistake was made and the program would not read locally stored BackTrader data. It would always go to the
server for data. This problem was corrected.
4. If you set the “Prb Tch” as a default in a Matrix format, when switching to that format, the “PT” button would not appear. This was
5. Prior to the market open each day, the new $YVI indicator, as shown in the lower section of a Price Chart, could have a wrong value.
This was corrected.
6. When sending an order to TOS for trades in the SPX standard or weekly expiration, the order would be interpreted as being in for new
Wednesday weeklys. This problem, which started when TOS made a change in their software, was corrected.