Options price displayed on chart

jmd2893

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Hello all, and as a new member, I cannot tell you how helpful this community has been to me. My question is, how do I add the stock price to my option contract at the time of purchase and display it on the chart? I'm a visual kind of guy. And was there also a way to display that in my "monitor" tab as well?

Thank you.
 
Solution
Hi John,

Did you know that you can plot an options strike? Not quite what you wanted, but we will get there.

I will use the SPX to demonstrate. Today is Jan 22, 2022, so I am using the 21 Jan 22 SPX option chain. I am using an expired option chain to show the price of the option strike vs time on a 1 minute chart. Obviously, you need to use thinkBack.

1) Enter SPX in the stock symbol box.
2) Go to Analyze tab and click thinkBack. Select 01/21/2022 so it will show the 21 Jan 22 option chain.
3) Right click anywhere on the 4480 Put strike. You should see "COPY .SPXW220121P4480" as an option. Select this, this is the Option Code
4) Go to charts and paste the Option Code into the stock symbol box. Change the time frame to 1...
Hi John,

Did you know that you can plot an options strike? Not quite what you wanted, but we will get there.

I will use the SPX to demonstrate. Today is Jan 22, 2022, so I am using the 21 Jan 22 SPX option chain. I am using an expired option chain to show the price of the option strike vs time on a 1 minute chart. Obviously, you need to use thinkBack.

1) Enter SPX in the stock symbol box.
2) Go to Analyze tab and click thinkBack. Select 01/21/2022 so it will show the 21 Jan 22 option chain.
3) Right click anywhere on the 4480 Put strike. You should see "COPY .SPXW220121P4480" as an option. Select this, this is the Option Code
4) Go to charts and paste the Option Code into the stock symbol box. Change the time frame to 1 min. This shows the range of prices for the 4480 Put strike at different times of day. Real world example: I bought the 4480 Put for 30.10 @6:49 AM and sold for 40.80 @6:57. The chart reflects these prices.

So how do we add the SPX prices to this chart? We don't, we add the Option Code to the SPX chart.

1) With the SPX chart displayed, click on the beaker icon.
2) Under the Studies tab, type in "comparison". Add this to the Price panel.
3) Click the gear icon for the comparison study. Change SPX to .SPXW220121P4480. My default has line selected. This shows the last filled price. If you choose bar or candle, you will get a range of prices that filled at that particular minute of time.
4) Choose left axis. You need this when scale of prices are different (4400 for SPX vs 30 for .SPXW220121P4480). Accept all changes.

Price and option price are now displayed. If you bought a vertical Put spread, you would enter the difference between the strikes in the comparison study: for a $10 wide Put spread (4480/4470 Put), .SPXW220121P4480-.SPXW220121P4470 is entered in the Comparison study.

Note: you can get the Option Code for past/current positions by looking in your trade history and right clicking. You may need to copy it manually.

Hope this helps,

CSP
 
Last edited:
Solution

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Hi John,

Did you know that you can plot an options strike? Not quite what you wanted, but we will get there.

I will use the SPX to demonstrate. Today is Jan 22, 2022, so I am using the 21 Jan 22 SPX option chain. I am using an expired option chain to show the price of the option strike vs time on a 1 minute chart. Obviously, this option chain has expired, so you need to use thinkBack.

1) Enter SPX in the stock symbol box.
2) Go to Analyze tab and click thinkBack. Select 01/21/2022 so it will show the 21 Jan 22 option chain.
3) Right click anywhere on the 4480 Put strike. You should see "COPY .SPXW220121P4480" as an option. Select this, this is the Option Code
4) Go to charts and paste the Option Code into the stock symbol box. Change the time frame to 1 min. This shows the range of prices for the 4480 Put strike at different times of day. Real world example: I bought the 4480 Put for 30.10 @6:49 AM and sold for 40.80 @6:57. The chart reflect these prices.

So how do we add the SPX prices to this chart? We don't, we add the Option Code to the SPX chart.

1) With the SPX chart displayed, click on the beaker icon.
2) Under the Studies tab, type in "comparison". Add this to the Price panel.
3) Click the gear icon for the comparison study. Change SPX to .SPXW220121P4480. My default has line selected. This shows the last filled price. If you choose bar or candle, you will get a range of prices that filled at that particular minute of time.
4) Choose left axis. You need this when scale of prices are different (4400 for SPX vs 30 for .SPXW220121P4480). Accept all changes.

Price and option price are now displayed. If you bought a vertical Put spread, you would enter the difference between the strikes in the comparison study: for a $10 wide Put spread (4480/4470 Put), .SPXW220121P4480-.SPXW220121P4470 is entered in the Comparison study.

Note: you can get the Option Code for past/current positions by looking in your trade history and right clicking. You may need to copy it manually.

Hope this helps,

CPS

CPS,

Took me a while to digest what you were describing. After many attempts and finally figuring out what you wrote, YES, this is exactly what I was looking for.

I assume I have to do this with each option I purchase? Would there be a way to add the price on the line as it moves with time?

Thank you very much for your time and effort. Another tool for the tool bag. This is great for a visual while not having to flip flop thru charts.

John
 
John,

Glad you found it helpful. Unfortunately, yes you have to add an entry for each option. The comparison study seems to be limited to one entry on the price graph, but you can put several on the lower sub-graphs. There is probably a way to add price through Thinkscript, but that is currently beyond me.

Alternatively, with a multi-pane chart (underlying left side, options price right side) you can synchronize your cursor to move at the same position in time between your underlying and options price panes. To see options price displayed requires that your mouse cursor be in the options price pane.

To synchronize cursors change your chart settings (Chart Settings - General - Synchronize crosshairs position).


CSP,
my fingers are dyslexic: never learned to type.
 

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