Welcome all, we are back with another trade-related app review and this time we are going to review FairOption app. It uses the efficient and long established, Nobel prize-winning Black-Scholes model to accurately calculate the theoretical fair option price for traded options. And it is currently available for iOS based devices only. Let us explore more about it in the below section
Exploring the FairOption app.
The app is developed by experienced financial apps developer named Miles Hitcham. Miles uses all his experience in developing an app which is very useful for traders who trade in the option market.
Features
The app is developed with an aim to provide best possible help to a trader whether new or old. The app is designed in such a way that every trader can get maximum benefits from it and can increase his/her income exponentially. It increases profit making and reduces loss chance. Now let us explore more about its features.
1) It uses Nobel Prize-winning Black-Scholes model to calculate option price which results in the generation of highly accurate option prices. It can also be used with more flexible Binomial Lattice mathematical model whenever required.
2) FairOption helps its users to get a list of Greek sensitivities (Delta, Gamma, Theta and so on) for the call and put options for any security with a single click.
3) FairOption app effectively uses Apple’s Core Data technology and animated dynamic display techniques and works in both portrait and landscape mode. In landscape, users can see extra data.
4) The interface of the app is developed in such a way that users can save a lot of time through it. It eliminates various manual activities like calculation of option expiry periods or dates etc.
5) Through FairOption app, users can price options in both weekly and monthly manner with and without dividends. Moreover, the data can be seen in US and European exercise-style formats.
6) The FairOption app also allows its users to verify the results in the case of any doubts. Users can compare results with results of standard output or with example calculation.
7) Beside strike price, users can see adjustable lattice of options into which they can drill-down further.
Interface of FairOption
Here we are providing a quick guide to FairOption app. In this section, we will explore the app with the help of some snaps.
1) You will get the following screen whenever you open the app.
2) After that users can see the list of various securities. Users can use search option to search security. In fact users can use add new security also.
3) After selecting the security, users can check Option prices (both Calls and Put). Using the app in landscape mode adds more data.
4) You can drill-down further and can see Greek sensitivities for any option. Again try the app in both in landscape and portrait mode and feel the difference.
5) A separate User Guide (which can work offline) is provided which comes with menu options like as shown below.
Final Words
Not making the post too long we are ending the post here only with some pros and cons which we noticed while using the app. Have a look and take action accordingly.
Pros
1) It is developed by Miles Hitcham. The man having lots of experience in the same field.
2) The interface is biggest plus point associated with it. It works efficiently in both portrait and landscape mode.
3) Automatic update option helps to keep the app up to date without any extra burden.
4) The app comes with the user guide which is very helpful in understand the working of the app.
5) It is a small app which sized less than 10MB
Cons
1) The only drawback with the FairOption is that it is not available for Android and Windows based devices, it is only available on iOS based devices.
As the developer’s team seems to be very active, we can expect Android and Windows version soon. Meanwhile, if you have an iOS based device and if you deal in Options then just go for FairOption app. Its worth every single penny spent on it. Try it and share your experience with us.
