Custom script in the option trade grid

[LarryM]

I am trying to create a custom column in the option trade grid that will display a percentage.
I want this to be used for indicating the percentage of extrinsic value divided by the strike price.
This will show the return of the invested amount(strike price) and the premium received. Used for
selling ITM covered calls.

It sounds so simple yet because of my lack of programming knowledge I find it so difficult!

Any help would be greatly appreciated.

 

[Buckeye_Joe]

I am trying to create a custom column in the option trade grid that will display a percentage.
I want this to be used for indicating the percentage of extrinsic value divided by the strike price.
This will show the return of the invested amount(strike price) and the premium received. Used for
selling ITM covered calls.

It sounds so simple yet because of my lack of programming knowledge I find it so difficult!

Any help would be greatly appreciated.

I am trying to do something similar, which is why I just registered to the forum. I want to create a column that calculates Delta/Mark to show me (at the moment) which strike is likely to produce the highest % return (ignoring the other Greeks for estimating purposes).
Any help for LarryM would probably help me as well.
Thanks

 

[Buckeye_Joe]

Hello LarryM
After I posted yesterday, a friend came through and helped me write the correct script to add the custom column to the Trade tab for my need. It created the column "Delta/Mark" under "Customize Column Sets".
To do this, click on the column sets button that is on the title bar for the "Option Chain" below "Underlying" and "Trade Grid".
There, find one of the Custom columns and double click it to open the Custom Quote Formula window.
Change the column name to suit yourself (probably no spaces allowed).
Change the frequency (minutes, hours, days) of update in the dropdown box next to the name.
Choose the thinkScript Editor tab.
Erase the code that is there (probably SimpleMovingAvg() )
Enter: " Plot data = Delta()/close; "
Enter what's underlined only. Do not enter the " marks, and finish with the semicolon as shown.
If it is entered correctly, thinkscript will recognize the code and color some parts of the line
(I don't know if this happens all the time)
If it is not entered correctly, I believe you'll see errors below
Then click "Apply" and then "OK"
That will create the column and add it to the right-hand window which lists your customized column list.
Notice the scrolled paper symbol beside it - you click that symbol to edit the code.
When I did this and entered the column, it took a while to load the results in the column, but it works pretty well.
Let me know if you have questions. I'll help if I can.

 

[Buckeye_Joe]

This is a follow up to the previous post. Partly for curiosity and partly for my own education, I tried to enter code to do what you wanted. For the Mark or Price, I had to calculate (Bid() + Ask())/2. And for Extrinsic I used the (Strike price - the calculated Mark). Here is the line from the thinkscript editor:
Plot ext = 100 * (GetStrike()-(Bid()+Ask()/2))/GetStrike();
It seems to work, but I'm an amateur, so you should run this by a qualified Schwab person before you make decisions based on it.