Calculating Expected Move using ATM Call/Put (Straddle price)

[smm329]

Hello everyone,
I am trying to calculate the straddle price of the underlying at a specific time frame, and the following code is giving me an issue. Can anyone here help me?


declare lower;
input symbol = "AAPL"; # Symbol of the underlying asset
input expirationDate = 20230617; # Expiration date of the option contract
input targetTime = 1430; # Target time in 24-hour format

def callOptionContract = GetATMOption(underlyingSymbol = symbol, yyyyMmDd = expirationDate);
def putOptionContract = getATMOption(symbol, expirationDate, OptionClass.PUT);

def callOptionBid = if SecondsFromTime(targetTime) == 0 then callOptionContract.priceType.MARK else Double.NaN;
def putOptionBid = if SecondsFromTime(targetTime) == 0 then putOptionContract.priceType.MARK else Double.NaN;

def sumBidPrices = callOptionBid + putOptionBid;

plot SumBidPrices = sumBidPrices;

 

[halcyonguy]

Hello everyone,
I am trying to calculate the straddle price of the underlying at a specific time frame, and the following code is giving me an issue. Can anyone here help me?


declare lower;
input symbol = "AAPL"; # Symbol of the underlying asset
input expirationDate = 20230617; # Expiration date of the option contract
input targetTime = 1430; # Target time in 24-hour format

def callOptionContract = GetATMOption(underlyingSymbol = symbol, yyyyMmDd = expirationDate);
def putOptionContract = getATMOption(symbol, expirationDate, OptionClass.PUT);

def callOptionBid = if SecondsFromTime(targetTime) == 0 then callOptionContract.priceType.MARK else Double.NaN;
def putOptionBid = if SecondsFromTime(targetTime) == 0 then putOptionContract.priceType.MARK else Double.NaN;

def sumBidPrices = callOptionBid + putOptionBid;

plot SumBidPrices = sumBidPrices;

GetATMOption() returns text, an option symbol.
text can't be saved to a def variable.
you have to put the GetATMOption() function inside of a price function, like close().

this is wrong. can't append parameters to variables.
callOptionContract.priceType.MARK


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