Theo Price vs. TheoreticalOptionPrice

[DudeDastic]

While playing around with the Options Scanner on TOS, I decided to have a look at the Theo price and noticed that two different columns can be added to the search results table that supposedly give you this info. One column is called Theo Price and the other is called TheoreticalOptionPrice. I thought they returned the same data since their names are similar. Instead they return different numbers. Not only that, the former column's value alters slightly whenever I hover my mouse over the option in the search results or scroll the results, and the latter's value seems too high.

Anyone know why the values are different? And which one is the correct value?

 

[MerryDay]

While playing around with the Options Scanner on TOS, I decided to have a look at the Theo price and noticed that two different columns can be added to the search results table that supposedly give you this info. One column is called Theo Price and the other is called TheoreticalOptionPrice. I thought they returned the same data since their names are similar. Instead they return different numbers. Not only that, the former column's value alters slightly whenever I hover my mouse over the option in the search results or scroll the results, and the latter's value seems too high.

Anyone know why the values are different? And which one is the correct value?

I have not use them. This is what Google has to say:

What is Theo price in thinkorswim?
You can forecast the future price expectations of a call option under different scenarios using the Theo Price (short for “theoretical price”) tool on the thinkorswim platform. You forecast the future price
https://tickertape.tdameritrade.com/tools/theoretical-call-option-price-calculator-18158

What does theoretical option price mean?
What Is Option Pricing Theory?
Option pricing theory estimates a value of an options contract by assigning a price, known as a premium, based on the calculated probability that the contract will finish in the money (ITM) at expiration. This one assigns a price
https://www.investopedia.com/terms/o/optionpricingtheory.asp