Finding a High Profit or High Probability Trade
Trade
Search Complete
ODDS Online has completed the trade search process.
In the TRADE SEARCH RESULTS table in the upper left corner, you'll find a
listing of the trades, along with a listing of critical trade information.
There are three columns in the table: Exp.
P/L (expected profit/loss), Prob (probability of profit) and Strategy.
By default, the table results are sorted on Exp. P/L (expected
profit/loss) in declining order. You
can change how the columns are sorted by clicking on any column header.
The
far right column provides you with the trade.
Each trade has a number code. The
various trade codes are:
1000
to 1999: Straddle
2000 to 2999: Strangle
3000 to 3999: Back Spread
4000 to 4999: Credit Spread
5000 to 5999: Buy Call
6000 to 6999: Sell Put
7000 to 7999: Covered Straddle
8000 to 8999: Covered Call
9000 to 9999: Covered Strangle
10000 to 10999: Ratio Spread
11000 to 11999: Neutral Opt. Pos.
12000 to 12999: In-The-Money Delta Play
13000 to 13999: Debit Spread
14000 to 14999: Buy Put
15000 to 15999: Calendar Debit Spread
16000 to 16999: Calendar Credit Spread
That
means, if you chose to search for high profit trades, and 2001 showed up in the
table, it does not mean that the trade involves options that expire in 2001.
Instead, it means that the trade associated with that code would be a
STRANGLE because the trade code is between 2000 and 2999.
If
you chose to search for a high probability trade, and you selected both CREDIT
SPREAD and COVERED CALL as the trades to search for, you would have two
different groups of trade codes: some codes that were between 4000 and 4999
(which means that those strategies are CREDIT SPREAD trades) and the rest with
codes that were between 8000 and 8999 (which means that those strategies are
COVERED CALL trades).
To
get the details of those trades - exactly what options to buy and what to
sell, the strike prices, the expiration months, the bid and the ask of each
option -- simply click on the TRADE code number.
Immediately, ODDS ONLINE will fill in the matrix with the exact
appropriate information.
