Building a Free Options Database

Discussion in 'General Discussion' started by Kevin Lee, Oct 20, 2014.

  1. Kevin Lee

    Kevin Lee Well-Known Member

    There is an interesting thread in SOM about someone trying to build an application that downloads 1 minute option data directly from the TD Ameritrade servers using the API. I think this is an interesting concept, but obviously I'm not technical enough to know if this is feasible. Perhaps someone here can comment.

    My initial reaction is if it can be done, then it'll be a great benefit to options traders like us. We can load the data into Excel to do analysis and even build some simple back-testing and position monitoring tools. For me, that's probably good enough and I can save costs from options analysis software. But of course, for those software that offers more advance features such as IV modeling in OptionVue or LiveVols, they are still worth the cost.
  2. tom

    tom Administrator Staff Member

    I saw that thread too. There were similar threads years ago. There are lots of problems with that project idea:
    - Who is going to pay for the database and where will it be?
    - Who is going to scrub the data for bad/missing data?
    - Is one person responsible for uploading the data? What if that person is unable to upload the data? (could be sick or traveling for example)
    - What symbols do you track? Everyone has their favorites.
    - Are you going to store the greeks too? If so, are they going to be calculated (how) or downloaded from TD Ameritrade?
    - Licensing. Is it legal to store and retrieve data obtained from TD Ameritrade? If you allow re-distribution before the next day's opening print, then you likely have to collect and pay exchange fees for instance.

    It's a complicated bucket of worms imo.
  3. tom

    tom Administrator Staff Member

    btw.. I saw Kevin Lee had a post that was deleted in that thread. What did you say Kevin??
  4. Kevin Lee

    Kevin Lee Well-Known Member

    Ya good point. But if it's an open source project where each of us draw our own data and only for our own use, I guess it's okay? There is still an issue of ownership and responsibility.

    Yes - as I was told, my post was deleted because it is perceived to be negative to ONE. I said - okay, in that case, I'd just move my discussion to Capital Discussions. Our views will not be censored here. But I'm still careful not to mention anything that "the other side" will view as a threat.... :)

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice