I know options are relatively new to TC2000. But,...
It would be awesome if:

1) You could export option chain data to Excel.

The data provider might not allow it, in which case my second suggestion would be nice (should have that one anyways, it's nifty ;) ... the nicest thing about spreads is they allow you to dial-in the amount of risk/reward you're comfortable with, but it takes a little analysis beyond (at least for me) what's in TC2000 Option Chains today. Exporting to Excel would make it easy peasy to choose the spread I want.

2) Add Probability Data to Option Chains.

Many brokers already provide probability data in their option chain quotes, derived from the current price of the options and the implied volatility at each strike. Given this data you can derive the maximum gain, maximum loss, probability of maximum loss, and probability of maximum gain.

Comes in real handy when choosing spreads ;)

I doubt the devs can have this ready by Friday, but maybe in v18? LOL. That would be cool.

Reference: Using Probability Data to Compare Spread Trades

Thank you for your suggestions.

I have added the Black Scholes in one of my columns.

However, what do the numbers mean?

Thanks

Joe

https://en.wikipedia.org/wiki/Black%E2%80%93Scholes_model

Yup, Google is a beautiful thing. <hint>

Thanks for the feedback.  I have seen how the calculation is done of d1 & d2, etc., including the Khan Academy which explains very cleary.

All I am looking for is - how do  I use the numbers in the column to trade options?

This is a better question as I am new to options.

Joe

The trainers are not allowed to give any sort of settings, interpretation, or investment advice.

Bruce, is right ... they legally aren't allowed to offer that kind of advice.

TC2000 forums are good, and there are lots of users that might offer adivce, but seriously ... I'd go back to my Google remark ... you'll find WAAAY more useful information on Black Scholes there as it pertains to trading options than you'll find here.

Just my opinion.

Whoa, all I wanted to know what they mean:

For example XHB Jan 18 Call with a strike of 39, BS is 1.17.  For 40 it is 0.69. 

I guess if you go through the calculation you get the numbers but how to you it, theoretically 

Don't mean to get anyone in trouble  :-).  I am just using paper trades.

Thanks

Joe

I thought of that, but couldn't find anything in the Help File. I was actually surprised when I tried adding Black-Scholes to my watchlist that it was just one number. No idea personally what it represents.

Have you tried TC2000 Brokerage Customer Support? They might be able to tell you.

The other thing I don't get is that my (limited) knowledge of Black-Scholes is that the Black-Scholes model is used to price European options, not  sure how handy it is for American options. But what do I know?

My guess is that that number might be the Black-Scholes pricing model's "fair price" or "theoretical value" for a call or a put option at expiration.

So the premium is what it's worth now, the BS number is what it would be worth at expiration. But I don't use BS, and have has waaaaay too much coffee today, so I'd contact TC2000 Brokerage Customer Support.

I need more coffee :)

This is the only thing I found written in English instead of geek-speak. Not sure it'll help but I have a minute while the barista makes my next round ...

So the most intuitive way of thinking about Black-Scholes is that if an option expires right now, the price is known exactly. Now if you have an option that expires in the future, then the price becomes &ldquo;blurry&rdquo; because you don&rsquo;t know how the stock price will go up and down before the time it expires. As you go back in time, the option price becomes more and more blurry.

So the price for an option in the future is a smoothed curve as the unknown price movements make things more or more blurry and hence more and more smooth.

The funny thing about the Black-Scholes model is it turns out that real options don&rsquo;t follow the model at all. The Black-Scholes model is like assuming the world is a sphere. It turns out that the world is not a sphere, but you can tell something about the world by describing how it&rsquo;s different from a true sphere. Same with options. The Black-Scholes model starts out with certain assumptions about how stocks behave, that aren&rsquo;t exactly true, but you can figure out things about market by seeing how it deviates from Black-Scholes.

Source: https://www.quora.com/What-is-the-Black-Scholes-model-in-laymans-terms

My thoughts are: if you give me something to better make my trades I will use it.  I use the Greeks and Implied volatility and I check the graphs in CBOE.

However, when I see the numbers along the strike prices in TC2000, I say - "hey what is this, will the BS numbers help". There is nothing on Help in TC.

I couldn't find much on Google  as they all explain how it works, so I posted the question here as I think Bruce is a very smart guy.

What I am asking is - TC2000 could provide some guidance on how to use this to better trade options.

Thanks

Joe

Joe, looks like you've been around here a while so you probably know Worden and TC2000 Brokerage are two separate companies.

Bruce is a very smart guy, but in this case the lawyers have tied his hands behind his back.

I don't use Black-Scholes for my option trading so I really don't care and don't include that column in my option chain.

I'll just suggest one last time that contacting TC2000 Brokerage Customer Support might help. They're available by email or phone.

Even there, they might be able to tell you what the number represents, but "how to use this to better trade options" sounds more like advice which I doubt Worden trainers and/or TC2000 Brokerage Customer Service can legally provide.

And I see Bruce or StockGuy or someone else from Worden removed my Khan Academy reference. They're not a Worden competitor by any stretch, strictly an educational website. Don't understand what the problem was, but it just makes me hesitant to try and help folks in the future if my stuff is just going to be deleted.

Joe, good luck. Hope you find what you're looking for. Personally I'd just delete that column - sometimes less is more. Just my opinion.

The only other thing I can do is give this a few more stars, and maybe attract some eyeballs of customers who aren't gagged by lawyers who can tell you "how to use this to better trade options" 

enhancenent request

It would be helpful to have a setting that allows more than 6 options to display on opening the option chain and ability turn off/on weeklys as default setting

Thanks for considering