There is a major problem with Klein Charts, there are not enough of them! Mike used two limits, a minimum of 16 years of price history and a minimum market CAP of $1 billion. While he was active at TMF he would produce additional charts on demand. Other Fools had chart rendering websites but they have all faded away.My fast growth wishlist uses phpExcel to calculate the Average CAGR (the red line) but looking at the numbers is not too helpful, nowhere as informative as a chart. The charting software I have seen is in languages that I'm not familiar with.I seldom make New Year Resolutions but this year I'm making one, Denny's Klein Charts with phpExcel! I got started today. The tutorials on Google were all very complicated so I turned to the examples that come with phpExcel which promptly bombed. I found the bug fix using Google so the examples are now working. Now it's just a matter of time to get it working.Why now? Because had I looked at a Klein Chart I would not have bought an overpriced stock that took a terrible dive last October.Stay tuned!Denny Schlesinger
Not to rain on your parade, but phpExcel is deprecated and not maintained and they suggest people to switch to phpSpreadsheethttps://github.com/PHPOffice/PHPExcelIf you're going to learn it, I'd learn the one that is maintained, there might be something in the old one that doesn't work with modern web technologies
Not to rain on your parade, but phpExcel is deprecated and not maintained and they suggest people to switch to phpSpreadsheet Yes, I know it's deprecated. I'm using phpExcel in my Portfolio webapp so I'm quite familiar with it. I use it for its math library (Excel functions) and that is not likely to change. These are the same functions that I used in Excel 4 which seems a lifetime ago!If I could find a charting, drawing class library in php I would prefer to use that instead of phpExcel/phpSpreadsheet. Do you know of any?Thanks!Denny Schlesinger
Yes, I know it's deprecated. I'm using phpExcel in my Portfolio webapp so I'm quite familiar with it. I use it for its math library (Excel functions) and that is not likely to change. These are the same functions that I used in Excel 4 which seems a lifetime ago!If I could find a charting, drawing class library in php I would prefer to use that instead of phpExcel/phpSpreadsheet. Do you know of any?Sorry, we actually use node, but haven't found any modules that have decent graphing and regression features, which is why I was looking at phpExcel when you mentioned it. Best of luck!
Chiming in just to note that everyone on this thread (not me) deserves a few dozen recs for considering this. Thank you!ThyPeace, yes, I'm still around and reading.
Hi - I am interested in this endeavor. Any update on this. Thanks for you continued help. IK
Not going so good. I've run into a series of problems.I'm fairly sure that Python needs to be a part of the solution but there is a glitch, there are two active versions, Apple supports v 2.7 on the Mac but one has the option of also installing v 3.7 which I did. I can launch either but there is a problem, my web apps run on php and when php launches Python, it's 2.7 that runs. I have not found a way to get php to launch 3.7. It was at this time that I got distracted by more urgent things.Sorry, no ETA.Denny Schlesinger
Thank you for your reply. Wish I could help - I am not a programmer. I do know lot of people who do programming for a living. If you can define the help, I can connect you with them and see if they would be interested to help. Always appreciate your dedication in keeping this going. IK
IK, thanks for the offer. I've started a new project that is more important for my own portfolio so the charts will have to wait.I've been trading options since late 2008 and covered calls have become an important source of income in my portfolio. More recently I discovered that covered calls can simultaneously work as a hedge. The principal objection one hears is "picking up pennies in front of a steamroller" and that's what happens when you do it wrong.With stocks you are dealing mostly with uncertainty and the BMW Method helps to tilt the odds in your favor by buying well below the mean. With options you are dealing with risk proper because you can calculate the outcome for both, the option expiring worthless, and the option being assigned. What you cannot calculate is the potential opportunity loss which is uncertain.The calculations are not all that difficult but they are cumbersome and time consuming done with a spreadsheet. My new project is to add a covered call calculator to my Portfolio web-app. The first and easy part is done, uploading the option chains downloaded from the CBOE website.http://softwaretimes.com/pics/upload-option-chains.pngToday I'm starting on the hard part, converting my spreadsheets to php code.The calculator does the following1- Price a number of calls based on likely strike prices and expiration dates2- Calculate premium (cash) collected, CAGR if the option expires worthless, CAGR if the option is assigned3- Discard options that don't meet the minimum criteria4- Order the remaining ones. So far I do this last by eyeballing. I don't know if I can come up with an algorithm for it.That's the sell side. On the buy side the calculator should check to see if the option is worth buying back. Short call options are decaying assets, the most you can make is the premium collected. If the premium falls low enough then it's worth buying back the call option and to look for opportunities to sell new ones.That's my current assignment! ;)Denny SchlesingerPS: with the kind of stocks I own the above strategy produces between 4 and 5% cash returns which pretty much covers my routine expenses, a good reason to do it right. The major risk is opportunity loss should a stock take off (pennies/steamroller). To mitigate this risk the strike price has to be high enough to make the stock worth selling. Initially I lost several stocks this way, six in all. I have since learned to roll up the option which is the hedging part of the strategy -- you give back the premium but keep the stock.
Sounds exciting - big fan of covered calls if done properly, I use them all the time, good luck. Maybe revisit in a month or so.
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