Back in 2013, I wrote a post on Option Oracle, a free options analysis tool that supported the NSE exchange. The tool was a great resource for testing options strategies like short strangles, long strangles, and spreads before going live. The best part was that it was completely free, making it a viable option compared to paid services like MYFNO.com or TradersCockpit. However, in this post, I am updating the old post with a new and working version of the same software that has been developed by Mr. Santosh Pasi.
The Problem with Options Oracle
However, after years of reliable service, the Option Oracle website shut down, leaving many traders in a lurch. Without an alternative, many traders had to resort to using paid services to continue testing and trading options. Fortunately, Santosh Pasi re-engineered the tool and created Option Oracle Pasi, a new and improved version that could be downloaded for free.
Introducing Option Oracle Pasi
With Option Oracle Pasi, traders could once again access a free and reliable options analysis tool that supported the NSE exchange. The tool’s new and improved interface made it even easier to use and provided traders with the ability to test and build options strategies quickly and efficiently.
How to Download Option Oracle Pasi
Simply click here to download and unzip the Option Oracle Pasi file to a folder on your computer.
Setting Up Option Oracle Pasi
Once you have downloaded and unzipped the file, double-click the OptionsOracle.exe file to open the initializing window. It may take some time for the tool to start up.
Now you need to select your exchange market.
After the software’s window has loaded, click on CONFIG and ensure that PlugIn Server India (NSE) v1.8.5 by Santosh Kumar Pasi [email protected] is selected as the Online Server. Click on SAVE to save the changes.
Using Option Oracle Pasi
With Option Oracle Pasi set up, you can start using it to build and test your options strategies. To get started, enter “NIFTY” in the symbol field and press enter. The tool will show “Downloading stock data” as it retrieves the options data, which you can then filter to show only calls/puts, ITM/OTM, or specific months.
To build your options strategy, simply drag and drop options from the options list to the strategy positions area. Once you have built your strategy, you can test it using the tool’s simulation feature to see how it performs.
Yes, the original Options Oracle tool was 100% free. However, since the website has shut down, the only option left for traders is to use the re-engineered version called Option Oracle Pasi, which is also free.
It is difficult to pinpoint the best option trader in India as trading success is subjective and depends on various factors such as strategy, risk management, and market conditions. Some popular names in the Indian trading and investing space are Late Rakesh Jhunjhunwala, Radhakishan Damani, and Ashish Chugh.
The best stock for option trading depends on various factors such as market conditions, volatility, and individual trading strategy. It is recommended to conduct thorough research and analysis before making any trading decisions. Some popular stocks for option trading in India are Reliance Industries, HDFC Bank, and TATA Consultancy Services.
Option trading is a type of derivative trading where traders buy or sell contracts that give them the right to buy or sell underlying assets at a predetermined price and time. In the share market, options are available for stocks, indices, and commodities. We can use option trading for various purposes such as hedging, speculation, and generating income. However, it also involves a high level of risk and requires careful analysis and risk management.
In conclusion, Option Oracle Pasi is an excellent resource for traders looking to test and build options strategies quickly and efficiently. With its user-friendly interface and support for NSE exchange, it provides traders with a reliable and free alternative to paid services. Therefore, download Option Oracle Pasi today and take your options trading to the next level!