Is it possible to script an Options Position Sizer indicator?

[3AMBH]

Is it possible to script and Options Position Sizer indicator that would sit on an Options Chart?

The indicator would have labels that would show the number of contracts to purchase based on Account Cash Available for Trading auto filled into the indicator , the price of the option based on the Ask, the number of contracts to purchase base on trader's inputted % risk of Account Cash Available.

Label: Account Cash Available
Label: Option Price
Label: # Contracts to purchase
Label: Traders Risk %

Trader would keep an options chart open with indicator on it.
The indicator's initial calculations would be determined when the Option Code is entered.

Side note: I keep a Watchlist Open with "Symbol" options codes of both puts and Calls and can easily send the option code to the Options chart with a click.

Thanks for looking.

 

[halcyonguy]

Is it possible to script and Options Position Sizer indicator that would sit on an Options Chart?

The indicator would have labels that would show the number of contracts to purchase based on Account Cash Available for Trading auto filled into the indicator , the price of the option based on the Ask, the number of contracts to purchase base on trader's inputted % risk of Account Cash Available.

Label: Account Cash Available
Label: Option Price
Label: # Contracts to purchase
Label: Traders Risk %

Trader would keep an options chart open with indicator on it.
The indicator's initial calculations would be determined when the Option Code is entered.

Side note: I keep a Watchlist Open with "Symbol" options codes of both puts and Calls and can easily send the option code to the Options chart with a click.

Thanks for looking.

There are several position sizing studies here. Maybe some of them will work.

Searching for position, results in 10 pages of possibilities.
https://usethinkscript.com/search/905634/?q=position&o=date


Here are a few links I had marked that may help
https://usethinkscript.com/threads/position-size-calculator-for-thinkorswim.588/
Position Size Calculator for ThinkorSwim
GetRichOrDieTrying
Sep 6, 2019
......
post2
korygill


https://usethinkscript.com/threads/intraday-position-size-code-help.10511/
Intraday Position Size Code Help
CozyMandias
Mar 11, 2022


https://usethinkscript.com/threads/potential-p-l-from-study-for-thinkorswim.8884/
Potential P/L From Study For ThinkOrSwim
JoeDV
Nov 15, 2021


https://usethinkscript.com/threads/position-risk-size-calculator-w-plotted-targets.7783/
Position Risk / Size Calculator w/ Plotted Targets
bottomphishing
Sep 2, 2021

 

[3AMBH]

Hi halcyonguy, Thank you so much! Working my way through your suggestion.

 

[3AMBH]

Didn't find anything that meets my needs. Thanks for your help

 

[French82]

Is it possible to script and Options Position Sizer indicator that would sit on an Options Chart?

The indicator would have labels that would show the number of contracts to purchase based on Account Cash Available for Trading auto filled into the indicator , the price of the option based on the Ask, the number of contracts to purchase base on trader's inputted % risk of Account Cash Available.

Label: Account Cash Available
Label: Option Price
Label: # Contracts to purchase
Label: Traders Risk %

Trader would keep an options chart open with indicator on it.
The indicator's initial calculations would be determined when the Option Code is entered.

Side note: I keep a Watchlist Open with "Symbol" options codes of both puts and Calls and can easily send the option code to the Options chart with a click.

Thanks for looking.

Hey @3AMBH

Did you ever find anything that would fit this Criteria? I would love to give it a go if so... I have something I use but, it doesn't work the way I would like. I have to tweak the input information to get it to give me the numbers I want.