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Stock Options

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    Stock Options

    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

    #2
    imported post

    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.
    DierkNinjaTrader Customer Service

    Comment


      #3
      imported post

      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

      Comment


        #4
        imported post

        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.
        DierkNinjaTrader Customer Service

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          #5
          imported post

          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

          Comment


            #6
            imported post

            - 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.
            DierkNinjaTrader Customer Service

            Comment


              #7
              imported post

              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

              Comment


                #8
                imported post

                - 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
                DierkNinjaTrader Customer Service

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                  #9
                  imported post

                  Thanks for your help. That should get me started.



                  Bob

                  Comment


                    #10
                    imported post

                    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


                    Comment


                      #11
                      imported post

                      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.
                      RayNinjaTrader Customer Service

                      Comment


                        #12
                        imported post

                        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

                        Comment


                          #13
                          imported post

                          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 exitat 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/H...ingOrders.html


                          Vince
                          VinceNinjaTrader Customer Service

                          Comment


                            #14
                            imported post

                            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


                            Comment


                              #15
                              imported post

                              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
                              RyanNinjaTrader Customer Service

                              Comment

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