See Also...
- Options Checklist
- Options Analysis Values Defined
- Volatility and  Black-Scholes Calculations
- Equity and Index Options Setup

The following steps will guide you through the process of setting up a quotepage to calculate and monitor these Option Analysis values:

• Implied Volatility
• Historical Volatility
• Theoretical Value
• Delta
• Gamma
• Theta
• Vega
• Rho
• Lambda

1. Create an Options Format
   First, we will setup a new quotepage format that will be used for options quotepages. 
   
   Go to Setup:Preferences, choose "Format Definition", and click "OK".   Select "New Format" for the format name.  Add the following Data Items(in the order shown below) to the right list box.
   Ticker Symbol, Name, Theoretical Value, Last, Implied Volatility, Volatility, Delta, Gamma, Theta, Vega, Rho, Lambda,Days to Expiration
   Choose "Save As", and type in the name "Options Format" and click "Save".  Close the "Setup Formats" window.
2. Setting up Options Analysis Preferences
   Go to Setup:Preferences and choose "Option Analysis Preferences". 
   
   Fill in the risk free interest rate(e.g. 4.75).  For Volatility Period, enter the number of periods to use when calculating the volatility of the underlying equity instrument.  The default value is 21 periods.  For Periodicity, choose whether you would like to calculate volatility using Daily, Weekly, or Monthly data.   Finally, choose which method to use when calculating volatility.   The Extreme Value Method compares highs and lows for each period, while the Close to Close Method compares closes on consecutive periods.  Click "OK" to close the window.
3. Creating a new Options QuotePage
   The next step is to create a new quotepage for the options we want to analyse.  Click on the QP button in the main toolbar, and choose "New".   Close the "Add to QuotePage" window that appears, as we will be adding options using a different method.  Click on the "Change Format" button in the quotepage toolbar, and choose "Options Format".  The quotepage should now be formatted properly for options.  Leave the empty quotepage open.
   
4. Adding Options to your QuotePage
   From the "Setup" menu, choose "Equity and Index Options".   We will use "IBM" as the underlying instument in this tutorial.  Type "IBM" into the "Underlying Symbol" field and press the "Tab" key.  Make sure that the "Options Prefix" is "IBM" also.  Checkmark the "Add options for months below" checkbox, and checkmark several upcoming months in which IBM options trade.  Make sure the "Puts & Calls" radio button is checked, along with the "Add to quotepage" checkbox.  You may adjust the number of strike prices that will be generated, just make sure the prices are separated by a comma.  
   
   Click the "Add" button and close the "Setup Equity and Index Options" window.  Your should now see the requested options in the quotepage.   Save the quotepage by choosing "Save As" from the "File" menu.  Give the quotepage a name such as "IBM Options" and click "Save".
5. Getting Options Data
   In order for the Options Analysis values to be calculated correctly, ensure that you have enough valid historical data for the underlying instrument.  You may add IBM to the options quotepage by clicking the "Insert a Row" button on the quotepage toolbar. Type in "IBM" and press "Return".  You can now double click on the IBM ticker symbol to view a chart on IBM.  If you chose to calculate volatility based on 21 periods of daily data, then ensure you have 21 periods of valid data on IBM in your chart.  If not, Investor/RT will have difficulty calculating the "greeks" values because they are all based on the volatility calculation.  You must be set up to receive options data from your data service, and your data feed must be active.  As quotes are received for each option, the analysis values will be calculated and updated in the quotepage.  The resulting quotepage should resemble this: