5 Things You Absolutely Must Do After Placing an Option Trade.
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If you really want to be a successful options trader, you need to have good systems in place. Part of that system is what you do AFTER placing a trade. Any village idiot can place a trade, it’s what you do next that’s important. Here’s 5 tips to get you headed in the right direction:
1) Check earnings and other important data releases.
Of course this is something you should do BEFORE placing a trade, but if you didn’t, you should do so straight after placing the trade. You can always close the trade straight away if there is an important announcement during the life of your trade. Announcements like GDP or jobs report can be major market moving events so you need to be aware of what’s coming up over the course of your trade.
2) Review your plan.
For each trade you place you absolutely must have a plan for when you will take profits, cut losses or adjust your trade. Review your plans for the trade you just placed and WRITE THEM DOWN or at least mark them on a chart.
3) Check your margin requirements.
Margin calls are horrible, so don’t put yourself in a position where you might get one. After placing your trade, double check that you have enough in your account to cover your current margin requirements. Depending on your trading strategy, you may want to add a 20% buffer to the margin amount to help prevent a margin call.
4) Update your trade log.
I hope you have a trade log, because if not you are already behind the 8-ball. After placing your trade you should enter the trade in your trade log so that you will be able to review it at a later date. Below is an extract from my trade log, if you want a copy of this spreadsheet template, just hit the button below.
5) Turn off your charts.
Something I was guilty of when I first started out was tick watching. After placing a trade I would sit there watching the chart like a hawk and stressing over each 0.01% move. Life is just too short for that sort of thing, after placing your trade and double checking everything, close out of your brokerage account for at least the next 30 minutes and just relax. Nothing drastic is going to happen in 30 minutes.
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33 Comments.
Please send me a copy of the trade log spreadsheet template.
May I hAve a copy of your trade log spreadsheet–very helpful. Thanks!
Thanks for all of the sharing. Could you send me a copy of your trading spreadsheet?
some really sobering info here. Look forward to working with you. Would be most grateful for copy of your trading spreadsheet template.
Hi, great website and enjoying it immensely. Another thing I do is to place a “conditional order”, let’s say on a Bull Put Spread, to close the sold leg IF the underlying price of the equity falls 50 cents below the strike UNLESS the trade was placed to own the stock and then unwind using Covered calls (my primary strategy).
Thanks Djohnsonhot, yes conditional orders are a good idea as well.
Please send me a copy of your trade log template. Thank you!
Thanks for sharing all this very useful tools and advice. Could you send me a copy of your trading spreadsheet ?
Hi Colonel, just ed you a link where you can download it.
Thanks for this article, is there something like MM Calc:
Yeah I’ve seen a few versions around the place, but can’t remember where. Wouldn’t be too difficult to create something in excel.
I like your trade log idea, very clean interface. At Interactive Brokers they do this for you through their TraderWorkstation platform.
I had my own log for awhile but did a time/cost/benefit analysis and found the one that IB does for me automatically to be a much better usage of my time.
However, for options traders just getting started, this is a VERY SMART way to get a feel for your trading and plan execution.
Would you please me you trade log? Thanks, Danos.
Please send me a copy of your trade log template. Thank you!
Any chance you could send me that spreadsheet?
Could you please send me your spreadsheet template? New to options and would love a great place to start recording.
Great article. Can you please send me the spreadsheet.
I could use a copy of the template please.
Hi, May I have your options template for creating a spreadsheet. much appreciated, Nina.
could u please send a copy of your spreadsheet. Thank you.
Please send me a copy of the trade log spreadsheet template. Thank You!
Hello, enjoyed your informative article. Thank you for that.
I would like to have your journal.
Hi, Cool article and good advice.
I’d like a copy of your trading log template.
Tracking your trades is important and a helpful tool to learn from.
Please me a copy of your trade log spreadsheet template.
Please send me the log spreadsheet. Thanks.
Please send me a copy of the trade log spreadsheet template.
Please send me a copy of the excel trade log template. Really appreciated.
Hi Please can you also drop me a copy of the spreadsheet – Thx.
I have been looking for a spreadsheet to track my options trades and really like the layout of yours. Would it be possible to send me exel file so that I could incorporate that into my trading plan?
Please send me a copy of your trade log. Thanks!
Just sent it to you Fran.
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Options Trading Spreadsheet Download.
The download link for the options trading spreadsheet is below. Right click on the file, and save the link to a location on your spreadsheet.
After you do your download, I suggest that you save a 2nd file using a different name. That way you will have a master file, in the event that you accidentally delete one of the spreadsheet formulas.
I am trying to make all of the input cells a different color than the formula cells.
The spreadsheet is a microsoft excel. xlsm file. If you have an earlier version of excel, then let me know and I will send you a different file to use.
Also, this is a macro enable spreadsheet.
Since the different worksheets are using macros, you may see a security warning that they have been disabled when you open the spreadsheet. If you want to use the spreadsheet, then you will need to click enable content.
Option Spreadsheet Download.
Latest spreadsheet: 12/9/2013.
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Risk Disclosure.
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure.
Hypothetical performance results have many inherent limitations, some of which may described in the content on this site. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight.

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Options Trading Journal Spreadsheet.
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Trade Tracking and Analysis software, for all:
Stocks, Options, Futures, Forex, (UK) Spread Betting, and CFD traders.

Options trading spreadsheet download

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Options Profit Graph For Price Changes Before Expiration.
This worksheet for our options trading spreadsheet is an addition to the price to expiration profit graphs, where it will also give the profit curvature for the date of the options trade, along with any other date before expiration. This is very useful, considering that most single options are not held to expiration, especially when they are long option trades.
Options Pricing Spreadsheet For Theoretical Values And Greeks.
The GreeksChain worksheet for our options trading spreadsheet will give a calls and puts price chain for theoretical value and greeks, made from our user inputs for underlying price, volatility, and days to expiration. Additionally, there is a calls and puts profit section for doing whatif scenarios and position adjustments.
Stock Options Trade Position Comparison Spreadsheet.
The stock options position comparison spreadsheet will take 2 different positions and give the risk reward for both overlaid on the same profit graph. This worksheet is especially useful for doing whatif modeling for different options position types or entry prices.
Option Position Spreadsheet For Graphing Current Profits.
OptPos [option position] trading worksheet video showing how it is used for entering option trades and positions to get both a graph showing profit at expiration, as well as current profit at any given date, based on the change in theoretical value of the position.
Stock Option Position Profit Spreadsheet.
Options trading spreadsheet video that discusses the StkOpt worksheet that can plot the stock option position profit at expiration, along with also plotting a stock trade only position for comparison.
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Options trading spreadsheet video that discusses the GreeksChg worksheet and how theoretical value and the option greeks change over a 30 day period, including the differences that occur from changes in the underlying and/or volatility.
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Options trading spreadsheet video that discusses the greeks worksheet inputs and outputs, especially with regards to the volatility input and what number to use. There is further discussion on ways that this worksheet can be used for projections and trading decisions.
Options Trading Spreadsheet Download.
Download link for microsoft excel options trading spreadsheet file.
Risk Disclosure.
Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.
Hypothetical Performance Disclosure.
Hypothetical performance results have many inherent limitations, some of which may described in the content on this site. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight.