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Bailey Nevener

How to Translate an Option Symbol in DAS

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Posted (edited)

This is a short guide on how to read option symbols in DAS

Follow me on YouTube and Twitch where I live stream my trading day:  

https://www.youtube.com/channel/UCkK2SWIsYGuWm1gtlbD2C4w

 

Also follow my Journal on BBT where I record my trading results:   

https://forums.bearbulltraders.com/topic/2516-youtube-video-journal-see-the-progress-profitloss/page/4/

 

When you initiate an option position in DAS,

it can be confusing knowing how to interpret the Symbol Column referencing the Option Contract.

 

For example:

image.png.91fd472713f141433803a46c150be91d.png

A DAS Position Window with a closed option position.

 

Symbol Reference Guide

+ SYMBOL ^ YEAR MONTH DAY STRIKE

 

  • "+" - denotes an option position

 

  • SYMBOL - the underlying symbol

 

  • "^" or " * " - denotes whether the option is a Call ( ^ ) or Put ( * )

 

  • YEAR - the year the option expires, represented by:
    • 2020 - A
    • 2021 - B
    • 2022 - C
    • etc...

 

  • MONTH - the month the option expires, represented by:
    • 1 - January
    • 2 - February
    • 3 - March
    • 4 -April
    • 5 - May
    • 6 - June
    • 7 - July
    • 8 - August
    • 9 - September
    • A - October
    • B - November
    • C - December

 

  • DAY - the day the option expires, represented by:
    • 1 - 1
    • 2 - 2
    • 3 - 3
    • 4 - 4
    • 5 - 5
    • 6 - 6
    • 7 - 7
    • 8 - 8
    • 9 - 9
    • A - 10
    • B - 11
    • C - 12
    • D - 13
    • E - 14
    • F - 15
    • G - 16
    • H - 17
    • I -  18
    • J - 19
    • K - 20
    • L - 21
    • M - 22
    • N - 23
    • O - 24
    • P - 25
    • Q - 26
    • R - 27
    • S - 28
    • T - 29
    • U - 30
    • V - 31

 

  • STRIKE - the strike price of the option (the decimal, if there is one, will also be displayed)

 

 

** While holding an Option Position in DAS it is important to know,

** the Shares column will actually show the # of Option Contracts you are holding instead of shares.

** (1 Option Contract is actually 100 Shares, but it would be displayed as 1 in the Shares column)

 

Let me know if there are any clarifications I can make.

I got all of this information from DAS's website at https://dastrader.com/documents/OptionSymbols.pdf

 

Good luck trading maties!

 

 

 

Edited by Bailey Nevener

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Thanks -- this is really helpful.  I'm new to options, BBT and Das Trader. Would you happen to know where I can get pre-defined layouts for trading options? It took me a while to get Trader Workstation (Interactive Broker), and while it works, it's cumbersome, and the charting isn't very good. DAS Trader looks great so far.

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Posted (edited)

Hello Choppy,

 

This was my configuration when traded option in DAS before.

I anchored a chart window to the option's montage and traded from there as well. (Bottom Window)

If I wanted to trade any spreads I would use the Complex Options Window.  (Top Window)

 

I'm sure that there are hotbuttons that can be configured to make them work even better,

but I didn't need them because I was mainly trading covered calls at the time.

(So I just needed to short the amount of call contracts equivalent to my share position).

image.thumb.png.731cba73fde404f29f7a9e8eb0e8b646.png

It's not worth sending my whole layout for this because these windows are available from

Trade > Complex Options Order and Quotes > Option Chain.

If you stumble upon a hotkey layout that can manage risk for these windows please post it below.

I'm sure if I spent enough time I could make Kyle's hotkeys work for this with slight modifications to the order type.

If I end up needing to do that I will definitely post the scripts.

 

Edited by Bailey Nevener

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