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QuickStart Guide

You can download this QuickStart Guide here.

Welcome to Option Insight. This QuickStart Guide is intended to get you up and running as quickly as possible, so that you can start finding great trades within minutes of installing Option Insight.

The first step is to download Option Insight. Please open your favorite browser and go to http://www.optioninsight.com. From there, click on the Download link to go and download the latest version of Option Insight.

While that download is completing, you can take the next essential step, which is to register yourself as an Option Insight user. This step is necessary to setup your username, which will be entered into Option Insight in a later step.

Click on the Register link to get to the registration form. On that form, please complete the information requested. We respect your privacy and will never sell your contact information to any other person or organization. It is vital that you provide an accurate and complete email address. That address will be used to email your password to you. Your password will be randomly generated.

Once your download is complete, you can install Option Insight. For this, you will need some unzipping program such as WinZip. In your unzipping program, open the .ZIP file you just downloaded and, either click Install or unzip to a temporary directory and run SETUP.EXE from there. The installation process is quite straightforward. All you have to do is specify the directory in which to install Option Insight, and the installation will complete quite quickly.

At this point, you will have to check your email for your password. Until you have received your password, Option Insight will not give you access to its most powerful functions.

Once that password is in your hands, the next step is to run the Option Insight program, so that you can enter your login information. Go to the Windows Start button on the Task Bar, click on Programs, and find Option Insight. Since it was recently installed, you will probably find it at the bottom of the list of programs. Select it, and the Option Insight application will begin. NOTE: It is advisable that you already be connected to the Internet when you start Option Insight. The program expects to be able to communicate with the Internet and will run much smoother if you are connected from the outset.

The next step is to go to the Preferences dialog box to enter your username and password. To get there, click on the File menu at the top of the Option Insight main window. In the File menu, select Preferences... The Preferences dialog box opens. You will see a few tabs there. Click on the Account tab.

On the Account tab, you will see two text fields labeled Username and Password. These fields, obviously, are where you can enter your username and password. Please be very careful when entering these, because they must be exact matches to your login information in our database. Please make sure that you match upper and lower case letters exactly, that you have no extraneous spaces on either side of your username or password, and that you have not mistaken digits for letters or vice versa. If it is easy for you to do so, the safest way to enter your login information is to copy your username and password from your email program into Option Insight, so that there is no way to mistype it. Just be aware that sometimes copying and pasting appends as unintended space character at the end of a word, so make sure that you delete any spaces at the end of your login fields.

Once you have entered these items, you can click the Check Account button. This will send your username and password to the Option Insight database and return with the trading strategies for which you are authorized, along with the expiration date of each feature. If you find that you are not seeing all of the trading strategy tabs you expect to see in the program, doing this Check Account function is a good way to tell if your authorizations have expired which would explain why the tabs are not showing up.

To close the window showing your account status, click on the X at the top right corner of the popup window. Next, close the Preferences dialog box by clicking on OK. Be sure you click OK, so that your login information gets saved.

Now, you will have to close Option Insight. Option Insight does not query for your authorizations after you've changed your login information. For this reason, you must close and restart Option Insight to have your account authorizations updated. You will only have to do this for this one time. From now on, your login information is stored within Option Insight, and your account authorizations will be automatically validated each time the program starts.

Once again, go to the Start button, the Programs menu, and find Option Insight. Start the program, and you should see all the trading strategies for which you are authorized.

You should now be up and running. Enter a ticker symbol in the top-left text box in the main window, just to the left of the button labeled Get. Try IBM, for example. Then click the Get button. After a brief pause, you will see the quotes that have been retrieved.

Now you can go to the trading strategy tab of your choice. The first time you visit a tab after retrieving new quotes, all the potential trades are generated, so there will be a pause while your computer churns out these hundreds or thousands of positions. (If you want to see a lot of potential trades, try examining all the put ratio backspreads for the QQQ's! Be patient while these thousands of trades are calculated.)

Once the grid of trades is displayed, you can sift and sort through them, sorting by whatever criteria are most meaningful to you, to help you find the gems hidden in the current market situation. Because Option Insight combines all the available options to generate all the possible trades, you can be sure that you have left no stone unturned. And the best trades will make themselves known. A low-priced long option combined with a high-priced short option will clearly show up as having superior risk/reward characteristics, a better breakeven, and will look better in general, because it is a better trade.

To sort, you can either right-click on the column header you want to sort, and then select Ascending, Descending, or None. Or you can actually left-click on the column header, taking note of the cursor and what part of the header you are on. If you put the cursor near the top of the column header, you will see the cursor depicts a group of items going from largest to smallest. This is a descending sort, which will sort the column from large to small. If you move the cursor to the bottom third of the column header, the cursor reverses, and you will sort from small to large. If a column is already sorted, you can remove that sort by clicking in the same zone again. In this case, the cursor will appear with the circle and slash, indicating the negative of the image.

Multi-column sorting is a simple matter of sorting columns from outer sort to inner sort. If you want to group all trades by expiration date first, and then sort by breakeven price, click on the columns in that order. You can see your sort expression build above the grid, with an (A) next to columns in ascending order and a (D) next to columns in descending order. To clear the entire sort and start over, simply click the O button above the grid, next to the sort expression.

When you examine a trade, be sure to take a look at the profit/loss graph depicted for it. This is an invaluable way to quickly evaluate the trades that are best for you. On the graph, the black vertical line is the current price of the underlying stock or index. The green horizontal line is the breakeven line. Although there's not much reason to do so, you can zoom in on the graph by using your cursor to draw a rectangle around the area you want to zoom in on. To zoom in, you must draw your rectangle from left to right. By drawing a rectangle from right to left, anywhere within the graph, you will end up zooming out and resetting the view.

You can right-click on any trade to access functions such as emailing the trade to a friend or friends (separate multiple email addresses with commas or semicolons). You can post the trade to a newsgroup. You can do a few other things. Look for the list of available functions to expand in coming releases of Option Insight.

If you have problems with running Option Insight, seeing your expected trading strategy tabs, or other such fundamental problems, please write to support@optioninsight.com. When you do, please include information about your configuration, such as the flavor of Windows you are running, the kind and speed of CPU, amount of memory in your machine, amount of free disk space, other currently running applications, how you connect to the Internet, whether you are currently connected, etc. Also, please run through the Check Account procedure outlined above and describe the results, i.e. did you see features and expiration dates, and, if so, what features and what expiration dates? You don't have to list them all, but it is important to know if your account is recognized and up-to-date.