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OASYS Options Analysis System OASYS: Options Analysis System Charles H Martin, PhD A product demonstration exclusively for TradeKing, Inc.

OASYS Options Analysis System Charles H. Martin PhD, University of Chicago (1994) Theoretical Chemical Physics Computational Quantum Theory Designed and implemented OPUS (Options Positioning and Utilization System) Recently acquired by TD Ameritrade, Inc. Who am I ?

OASYS Options Analysis System Oasys: Options Analysis System A demonstrable prototype that meets the majority of TradeKing requirements for a Position Analysis and Backtesting Tool Interactive, Drag-n-Drop Graphical User Interface (GUI) specifically designed for retail options trading Leverages Eclipse (and other) open source technologies to reduce costs and speed time to market Oasys is in the finishing stages; the hard part is done. What remains is to productize and scale to the enterprise class so that TradeKing can call Oasys their own

OASYS Options Analysis System TradeKing Requirements: Enhanced pre-trade analysis tool: Cross platform Stand-alone Web-downloadable Java desktop app Historical Intraday data Instruments covered Technologies/Solutions Requirements

OASYS Options Analysis System Why Eclipse?: Leveraging Open Source “ Standing on the shoulders of giants” Developed by IBM, $40M Donated to community Culmination of > 20 years OO R&D Sophisticated Application Framework Lets me focus on the business features Don’t have to reinvent the wheel Clean room implementation Rich Client Platform (RCP) stand-alone Rich AJAX Platform (RAP) browser-based

OASYS Options Analysis System Graph P&L over time (basic) Simulate P&L with price, volatility, and time Display and graph Greeks Superimpose existing and potential trades Modules: Position Simulation

OASYS Options Analysis System Virtual Portfolio (overlay temp with existing) Expire options in simulation (backtesting) Superimpose different P&L graphs View entire options chain, with smile curve Modules: Position Simulation

OASYS Options Analysis System Modules: Position Simulation

OASYS Options Analysis System Modules: Back-Trader Fully integrated into Position Simulator

OASYS Options Analysis System Modules: Charting Volatility Smile Curves and term structure (n/a today) Historical (Statistical and Implied) Volatility (n/a today)

OASYS Options Analysis System Modules: Charting Price: Eclipse Trader

OASYS Options Analysis System std shading rotate 90 deg choose valuation model overlay P&L of diff assets choose Greeks display Change strike IVs Complete Historical Database Charting of spread Payoff vs time Scanning Modules: Feasible (not in demo)

OASYS Options Analysis System Interactive GUI Design: Spread Overlays, Interactive Charts, Drag-n-Drop (DnD) Spread Resource View Payoff View Controls include editing, charting, color select, etc. Portfolio, Trade, & Legs shown in tree view widget Spread color (pin) synchronized with payoff chart Custom names (“ otm calendar ”) with F2-key Virtual (Temporary) portfolio

OASYS Options Analysis System Spread Overlays: Interactive GUI Design Spread Resource View Spread Properties View Spread Properties and Journal (text notes) Viewer shows Paper and Virtual trades

OASYS Options Analysis System Drag-n-Drop (DnD) Features: Converting a Spread Spread Resource View (before DnD) Drag “ otm calendar ” into paper folder and drop (after DnD)

OASYS Options Analysis System Drag-n-Drop Features: Setting the Spread in Option Matrix Drag “ otm calendar ” into Options Matrix to display and edit

OASYS Options Analysis System Spread View Control Features: Charting a Spread Select chart button for “ atm bull call ” to overlay spread payoff (before DnD) (after DnD)

OASYS Options Analysis System Payoff View Control Features: Selecting Time to Expiration Quick select for time to expiration Today Halfway to Expiration Expiration Custom Date (Calendar Widget)

OASYS Options Analysis System Payoff View Control Features: Selecting Volatility Quick select for volatility Spread Volatility Atm-average Volatility Vix-Average Volatility Custom Volatility ( �ݺ�ߣr Widget ) Spread Volatility A flat volatility for the “spread” that accounts for instantaneous “slippage”

OASYS Options Analysis System Payoff View Control Features: Displaying Greeks Pull down/quick select to show Delta Gamma Vega Theta Rho

OASYS Options Analysis System Smile View: Dynamic Display of Volatility Display spread (and legs) volatility with current smile curve Help user to understand volatility better

OASYS Options Analysis System Smile View Controls Pull down/quick select Smile Term Structure More/Less Options Display Spread/Leg Volatility (not shown)

OASYS Options Analysis System Backtesting: Integrated into Position Calendar View (Synchronize Chosen Date) Option Chain View (Synchronized to 12/3/05)

OASYS Options Analysis System Backtesting: Integrated into Position Analysis Calendar View (Select Date in Past) Spread View Inactive (!) Icon on Future Legs

OASYS Options Analysis System OASYS Options Analysis System Backtesting: Integrated into Position Analysis Calendar View (Select Date in Future) Spread View Lock Icon on Closed Leg

OASYS Options Analysis System OASYS Options Analysis System Backtesting: Integrated into Position Analysis Adjusting an existing position Simulate a forward adjustment or Analyze a previous position Chart the (combined) adjustment

OASYS Options Analysis System Suggested Features: Multiple Active Assets

OASYS Options Analysis System Suggested Features: Historical Payoff Analysis Calendar View (Select a date range) Chart Historical Payoff and Spread Volatility over date range

OASYS Options Analysis System Suggested Features: AJAX Deployment Rich AJAX Platform (RAP) augments Rich Client Platform (RCP) Bleeding edge technology 1.0 released this month 12/17/2007 Possible to share code base between RAP and RCP Prototyping necessary

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