asking price / delta option column

[jbake230]

How can i create a simple column for the option trade grid that just takes the asking price / delta. I have found that the lower the result the higher the percent increase in a win.

 

[halcyonguy]

How can i create a simple column for the option trade grid that just takes the asking price / delta. I have found that the lower the result the higher the percent increase in a win.

column study, for option chain

calculate , option ask / delta
the delta is an approximate calculation

zaskdelta
http://tos.mx/!g62g4z7W

there are a couple of extra labels, that can be enabled, to verify data.

this was harder than it should be. maybe i am missing something..?
delta() works on a chart, with an option symbol, but it doesn't work in an option chain column.
OptionDelta() didn't work.
ended up using the approx delta formula on delta page.

# zaskdelta
# column

# https://usethinkscript.com/threads/asking-price-delta-option-column.16980/
# asking price / delta option column


def bid1 = close(getsymbol(), priceType = PriceType.BID);
def ask1 = close(getsymbol(), priceType = PriceType.ask);
def sprd1 = ask1 - bid1;

 
# delta
# https://tlc.thinkorswim.com/center/reference/thinkScript/Functions/Option-Related/Delta
def epsilon = 0.01 * close(GetUnderlyingSymbol());
def approxDelta = (OptionPrice(underlyingPrice = close(GetUnderlyingSymbol()) + epsilon) - OptionPrice()) / epsilon;
#This example illustrates the approximate calculation of delta by dividing a change in the theoretical option price by a change in the underlying symbol price.

def d = approxDelta;
def askdelta = round(ask1 / d,1);

#addlabel(1, askdelta + " A/D", color.yellow);
addlabel(1, askdelta , color.yellow);
#addlabel(1, approxDelta + " approx", color.cyan);
#

this was with just the label with delta enabled, to compare to the actual delta numbers

https://tlc.thinkorswim.com/center/reference/thinkScript/Functions/Option-Related/Delta