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How to use OptionsOracle NSE (India)


This is basic guide on using OptionsOracle with example. I'll not go in-depth with other trading aspect. While initiating options trade lots of other things needs to be considered like volatility, direction, maximum risk, profit potential, days to expiry, etc.

Let's start with NIFTY chart analysis.

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Based on chart, immediate range is in between 8670 and 7920. Let's try Iron Butterfly strategy for NIFTY. I have selected Iron Butterfly based on some other technical parameters.

Let's find out strikes:
1. Lower stop loss is 7920, let's consider nearest strike as 7900
2. Middle of range is 8270, let's consider nearest strike as 8300.
3. Upper stop loss is 8670, let's consider nearest strike as 8700


So we will short 8300 Call and 8300 Put, and will go long on Call 8600 and Put 7900.


1. Let's run OptionsOracle, you will see below screen.
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2. In Symbol field, let's type "NIFTY" and click "Update".
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3. After update, it will show below screen.
Nse option trading

4. I'm interested in September series, so I need only September series data.
Click on "Sep 15" button to see only September data as shown below.
Latest version of Options Oracle

5. Let's build strategy by moving first leg of strategy. First I'll select PUT 7900 and drag it to "Strategy Positions".
Latest version of OptionsOracle

6. Now I will drag Put 8300. After dragging it to "Strategy Position" I have to change it from Long to Short.

Click on drop down and select Short PUT.
Latest version of OptionsOracle

7. Similarly I'll drag other strikes and will update complete strategy. Finally we will see as below:
Latest version of OptionsOracle

8. Let's change quantity from 1 to 25 (minimum lot size in NIFTY).
Select on 1 in Quantity field and type 25 as shown below:
Latest version of OptionsOracle NSE Plugin

9. After all changes it will look as below.
Latest version of OptionsOracle NSE Plugin

Maximum Loss Risk is Rs. 3965 (Not based on Stop Loss)
Maximum profit potential is Rs. 6035

Break even are at 8058 and 8541. So if NIFTY remains in-between these break evens, we will be in profit.

10. Let's analysis Strategy Graph. Click on Graph and you will get "Strategy Graph".
Latest version of OptionsOracle NSE Plugin

11. Let's find out our loss, if stop loss hits today. Click on "T" at Top Right. "T" stands for Today. Move cursor near to 8620 (our lower end stop loss), we can see our loss will be around Rs. 1040.
Latest version of OptionsOracle NSE Plugin

12. If market hits higher side stop loss today, our loss will be Rs. 1400.
Latest version of OptionsOracle NSE Plugin

So our maximum risk based on stop loss is Rs. 1400, maximum profit potential is Rs. 6035. Here risk reward ratio 1:4 roughly.

Hope this guide helps on how to use OptionsOracle.



Don't forget to post comments!!!

Disclaimer: This is only for educational purpose and not advisory to enter into trade. I'll not be responsible for any loss or risk. Options trading has large potential rewards, but also large potential risk.

Getting started with options analysis using latest OptionsOracle NSE Plugin. Options research, options analysis, research options, analyze options,

Getting started with options analysis using latest OptionsOracle NSE Plugin. Options research, options analysis, research options, analyze options,

Santosh Kumar Pasi, Options Trader and Trainer: How to use OptionsOracle NSE (India)

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26 comments:

  1. Is Option oracle is available on mobile application

    ReplyDelete
  2. Is Option oracle is available on mobile application

    ReplyDelete
  3. @Mukkar99, no it is not available on mobile.

    ReplyDelete
  4. after dragging the data into strategy positions the columns price, change and prob are not getting filled up in strategy summary window; any setting needed for that?

    ReplyDelete
  5. @Prasad, There can be many reasons.

    1. If you are trying this in pre-market timing (09:00 AM to 09:15 AM), when NSE page shows price blank.
    2. Script with very low volume and no trades as of now.
    3. Script with good volume, but you are selecting strike rate far deep in OTM or ITM, and there is hardly any transactions.

    Try NIFTY and select strike rate between 7500 and 8500. I'm sure you will face this issue.

    ReplyDelete
    Replies
    1. thanks

      I tried your example of Aug that may be the reason

      Delete
    2. @Prasad, It should have worked, because in example above I took September Series. Try it again/

      Delete
  6. Thanks for your option oracle working copy. Long time i was not able to use. With your copy its working. And also thanks for detailed example.

    ReplyDelete
  7. @Santosh, could you please tell me how to monitor an ongoing trade on this platform? Particularly, how much money is one making or losing after initiating the trade. I looked up the help section but could not locate the answer. Thanks in advance.

    ReplyDelete
    Replies
    1. @Rajiv, You can "Save" setup. Later on you can "Load" it and click on "Refresh" to see current profit/loss details.

      Delete
  8. I loaded nifty Dec 8300 ce and 8500 ce today. The last traded price was showing absurd values.

    S C Jain

    ReplyDelete
    Replies
    1. You can verify price on NSE page. It is OTM and for next series. Because of less volume, sometime price shows variation (big ask-bid spread) and not as per expectation.

      Delete
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  10. This is really nice. Thanks for sharing this informative article.

    Nifty Trading

    ReplyDelete
  11. Mr Rajendran of Marketcalls.in has also released a webinar of How to Use Santoshpasi OptionOracle plugin
    The Link is http://www.marketcalls.in/softwares/recorded-webinar-trade-options-using-options-oracle.html
    Equally useful

    ReplyDelete
    Replies
    1. Thank you. I'm aware of it. In fact posted about this webinar on my Facebook Page.

      https://www.facebook.com/OptionTrainingProgram/

      Delete
  12. Santosh ,
    How do you load the Margins required correctly in the config set up. Can you let me know the rules to be used for say Zeroda

    ReplyDelete
  13. Extraordinary data, I like this sort of online journal data truly extremely pleasant and more I can without much of stretch new aptitudes are create in the wake of perusing that post.
    Regards,
    Oracle Training in Chennai | oracle institute in chennai | best oracle dba training in chennai

    ReplyDelete
  14. thanks for such detail explaination love it

    ReplyDelete
  15. Santosh Sir,

    In this article "http://www.pasitechnologies.com/2015/08/how-to-use-optionsoracle-nse-india.html" after the last screenshot/image, you have mentioned that,

    "So our maximum risk based on stop loss is Rs. 1400, maximum profit potential is Rs. 6035. Here risk reward ratio 1:4 roughly."

    Could you please explain this? How it is possible? Is it considering only "Today" or "Till Expiry End"?

    Also, if it is considering "Today", then also, there will be too much loss.

    So, please explain this so that I can understand it properly Sir.

    ReplyDelete
    Replies
    1. Dear Mohan,

      In example, it is just considering SL as of today. If you would have considered P/L at SL on expiry, it will be less compared to "Today". So we are just considering Today as loss "Today" will be higher.

      If you just consider worst case (Max loss risk), still RR is 1.5.

      Delete
  16. Sir, even if we consider "Today" only for P/L, Risk is Rs. 1,400 and Reward is Rs. 6,035

    I am not getting it sir. What is the Stop Loss of Today means? What is the maximum profit for today means?

    Please elaborate it with detailed explanation at your free time, sir.

    ReplyDelete
    Replies
    1. If it bit complex, then for simplicity just consider details in "Strategy Summary". Consider only "Max Profit Potential" and "Max Loss Risk". Using that our RR is around 1.5.

      Delete
  17. This comment has been removed by a blog administrator.

    ReplyDelete

  18. You have provided an nice article, Thank you very much for this one. And i hope this will be useful for many people.. and i am waiting for your next post keep on updating these kinds of knowledgeable things...
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    ReplyDelete

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