Shubham Shah
Customer success, MarketXLS
Shubham Shah wrote 100 articles for the MarketXLS blog between January 2019 and February 2026, covering options trading, stock analysis and valuation, and portfolio and investment strategies. MarketXLS published him on its About Us page in a customer success role.
Articles by Shubham Shah
- Options Trading
Calendar Spread: The Complete Guide to Long Calendar Spreads with Puts and Calls (2026)
A long put calendar spread sells a near-term put and buys a longer-dated put at the same strike to profit from faster time decay. Setup, Greeks, management, and Excel tracking.
- Stock Analysis
Volatile Penny Stocks: How to Identify, Screen, and Analyze Them in Excel (2026)
How to identify, screen, and analyze volatile penny stocks in Excel with MarketXLS: volatility metrics, screening criteria, and risk management.
- Portfolio & Investment Strategies
Investment Tracker in Excel: Build a Real-Time Portfolio Dashboard with Live Data
Build an investment tracker in Excel: one row per holding with shares, cost, =Last() price, market value, gain/loss, weight, and dividend income, using MarketXLS formulas.
- Stock Analysis
Stock Split Calculator Excel: How to Calculate Share Adjustments and Track Split History
Stock Split Calculator Excel guide covering forward splits, reverse splits, cost basis adjustments, and how to track split history using formulas and MarketXLS functions.
- Stock Analysis
Penny Stocks under 10 Rs: Complete Guide to Screening and Analyzing Low-Price Indian Shares
Penny stocks under 10 Rs in the Indian market offer high risk and high potential reward. Learn how to screen, analyze, and evaluate these low-price shares using MarketXLS formulas and fundamental analysis.
- Options Trading
Option Greek Formula Excel
Calculate option Greeks in Excel with MarketXLS opt_ functions: opt_Delta, opt_Gamma, opt_Theta, opt_Vega, opt_Rho and opt_ImpliedVolatility. Syntax and example.
- Options Trading
How to Get Live Option Chain Data in Excel
How to pull a live option chain into Excel with MarketXLS: strikes, bid/ask, volume, open interest, and Greeks for US stocks and NSE options.
- Options Trading
Option Strategy for Beginners: Top 10
Discover the top 10 options trading strategies for beginners, including covered calls, spreads, straddles, and more, with clear payoff diagrams and expert insights.
- Stock Analysis
Indian Stock Prices in Excel: Real-Time & Historical Data Guide (2025)
Get NSE and BSE stock prices in Excel with the Stocks data type or MarketXLS India formulas, including historical data and live prices via Zerodha or Angel One.
- Platform & Product News
Options Flow Summary: MarketXLS New Release 9.3.5
MarketXLS 9.3.5 (September 2023) added options order flow summary functions, unusual options activity scans, and historical option chains in Excel.
- Platform & Product News
Get EOD Data for Major US Indices: MarketXLS New Release 9.3.4.9
MarketXLS 9.3.4.9 adds end-of-day data for VIX, S&P 500, Nasdaq Composite, Dow Jones, and Nasdaq-100, plus the ExpirationNext and StrikeNext option functions.
- Stock Analysis
Brand New Menu & Stock Rank Functions (New Release 9.3.4.6)
MarketXLS release 9.3.4.6 (May 2022) reorganized the Excel ribbon, added stock rank functions, and moved EarningsDate to a new data feed.
- Stock Analysis
MarketXLS Screener Release
In May 2022 MarketXLS launched a web stock screener: filter stocks by fundamental and technical rules, save screens, and send results to Excel.
- Options Trading
How to Hedge a Drop in S&P 500 Using MarketXLS
Ways to hedge a drop in the S&P 500: buying index puts, writing covered calls, inverse ETFs, and selling calls, with MarketXLS templates to see each payoff.
- Options Trading
How Are Options Priced?
An option premium equals intrinsic value plus extrinsic (time) value. Models like Black-Scholes price the extrinsic part from volatility, time, and rates.
- Options Trading
Use of Options to Hedge Market Risk
Five ways to hedge a stock portfolio with options: long puts, collars, put spreads, fences and covered calls, with the cost and protection trade-off of each.
- Options Trading
Option Strategies for Professional Traders
Five defined-risk option strategies traders use by market view: bull call spread, call ratio back spread, bear put spread, put ratio back spread, and iron condor.
- Options Trading
Common Mistakes in Options Trading and How to Avoid Them
Common options trading mistakes showing ignoring Greeks, wrong position size, and no risk management
- Options Trading
Options Trading for Passive Income
Covered calls and cash-secured puts collect option premium as income. How each works, where the risk sits, and why option income is not risk-free or fully passive.
- Stock Analysis
Trading Using the Fibonacci Retracement Strategy
Fibonacci retracement marks 23.6%, 38.2%, 50% and 61.8% pullback levels between a swing low and high. How the levels are calculated and how traders use them.
- Stock Analysis
Buy Stocks Straight from Your Excel Sheet Using MarketXLS!
Buy stocks from Excel showing trade execution workflow and spreadsheet interface
- ETFs, Funds & Alternatives
Cryptocurrency Features in MarketXLS
Get crypto prices in Excel with MarketXLS: add the exchange to the symbol (BTCUSD:BINANCE) or use :DEFAULT, then use Last, Bid, Ask, history, and indicator functions.
- Options Trading
Options Profit Calculator
An options profit calculator shows the profit or loss of a call, put, or multi-leg strategy at expiry and before it. How the math works and the MarketXLS Excel template.
- Options Trading
Stock Repair Option Strategy
The stock repair strategy buys one at-the-money call and sells two higher-strike calls against a losing stock position to lower the breakeven at little or no extra cost.
- Portfolio & Investment Strategies
Understanding Yield Curve (Trading Strategy & Yield Curve Control)
A yield curve plots bond yields against maturity. How normal, flat, and inverted curves differ, riding the yield curve, and yield curve control.
- Options Trading
Conversion Arbitrage Options Strategy: How to Profit from Put-Call Parity Mispricings
Conversion arbitrage studies put-call parity mispricings for potential profit, subject to trading costs and execution risks. Learn how conversion and reverse conversion strategies work, with real P&L examples and MarketXLS Excel formulas.
- Stock Analysis
Introduction to Machine Learning in Stock Markets
How machine learning is used in the stock market (forecasting, screening, portfolio risk, automated execution), its main limitations, and examples.
- Portfolio & Investment Strategies
Pivot Point Trading: Strategy Guide with Excel Formulas and Examples (2026)
A pivot point is (prior high + low + close) / 3; support and resistance levels are derived from it. How to calculate standard, Woodie, Camarilla, and Fibonacci pivots in Excel.
- Stock Analysis
Overvalued Stocks: How to Identify, Analyze & Avoid Them Using Excel and MarketXLS
Overvalued stocks trade above their intrinsic value and can expose investors to significant downside risk. Learn how to identify overvalued stocks using valuation metrics, screening methods, and MarketXLS Excel formulas.
- Options Trading
Stock Replacement Options Strategy
The stock replacement options strategy means buying a deep in-the-money call (delta close to 1) instead of buying 100 shares.
- Options Trading
Synthetic Short Straddle with Puts Option Strategy
A synthetic short straddle with puts shorts 100 shares and sells two at-the-money puts. Setup, maximum profit, unlimited risk, breakevens, and an Excel template.
- Stock Analysis
Technical Indicators: Meaning & Application
Technical indicators are formulas applied to past price and volume. What Bollinger Bands, SMA, EMA, golden and death crosses, MACD, and RSI measure and how traders read them.
- Stock Analysis
Technical Analysis Chart Patterns: Complete Guide to Using Excel for Pattern Recognition (2026)
Chart patterns (head and shoulders, double tops, triangles, flags, candlesticks) and how to find, confirm, and backtest them in Excel with price history and RSI.
- Stock Analysis
Stock Market Technical Analysis for Beginners
Technical analysis studies past price and volume to judge where a stock may go next. A beginner guide to charts, candlesticks, trends, and support and resistance.
- Portfolio & Investment Strategies
Telecommunications Sector: How to Analyze and Invest in Telecom Stocks with Excel
Telecommunications sector investing requires understanding key companies, 5G trends, dividends, and valuation metrics. Learn how to analyze telecom stocks in Excel with MarketXLS formulas.
- Portfolio & Investment Strategies
Investing in Special-Purpose Acquisition Company (SPACs)
A SPAC is a shell company that raises money in an IPO, holds it in trust, and then merges with a private company. How SPACs work, their structure, and the risks.
- Stock Analysis
Investing in European Stocks
Ways for US investors to buy European stocks: ADRs, GDRs, ETFs, mutual funds and direct foreign accounts, plus notable names, ETFs and currency risk.
- Stock Analysis
Technical Analysis Timeliness: Meaning and Usage in MarketXLS
Technical analysis timeliness is a MarketXLS template score that ranks stocks by their price relative to the 20, 50, and 200-day moving averages and RSI.
- Options Trading
Collar Option Strategy: How to Protect Your Stock Positions While Generating Income
Collar option strategy combines a protective put with a covered call to hedge your stock position — often at zero net cost. Learn setup, P&L analysis, and Excel tracking.
- Stock Analysis
Stock Health Check-Up (Is The Stock Healthy To Invest?)
A stock health check-up scores a company on EPS trend, P/E versus peers, five-year growth, and profitability margins, using a MarketXLS Excel template.
- Platform & Product News
Jane Street Capital
Jane Street Capital is a proprietary trading firm and market maker best known for ETF trading and its use of OCaml. How it operates and earns.
- Options Trading
How To Profit From Arbitrage Stocks And Options?
Arbitrage profits from a price gap for the same asset or equivalent positions. Stock arbitrage across exchanges, put-call parity for options, and the risks.
- Portfolio & Investment Strategies
Dividend Growth (Gordon Growth Model)
The Gordon Growth Model values a stock as next year's dividend divided by the required return minus the dividend growth rate: D1 / (k - g).
- Options Trading
Options Trading (Strategies)
Eight common options trading strategies explained: covered put, collar, short strangle, bull put spread, bear call spread, calendar spreads, and long butterfly.
- Stock Analysis
Warren Buffett Portfolio (Top Stocks)
Warren Buffett's top 10 Berkshire Hathaway holdings as of the December 31, 2020 13F (led by Apple and Bank of America), plus the value investing principles behind them. Check Berkshire's latest 13F for current holdings.
- Stock Analysis
Technical Indicators for Swing Traders (Using MarketXLS)
Common technical indicators for swing traders: moving averages, Bollinger Bands, RSI, stochastics, money flow index, MACD, and on-balance volume, and how to pull them into Excel.
- Stock Analysis
Quantitative Analysis and Long Term Ratio Analysis of Stocks
Quantitative analysis of stocks uses financial ratios and statistics to compare companies. Two MarketXLS Excel templates score stocks on return, valuation and cash flow ratios.
- Portfolio & Investment Strategies
Weiss Blue-Chip Dividend Yield Screen: Tracking and Implementation
The Weiss Blue-Chip Dividend Yield Screen filters for companies with 25 years of dividends, steady EPS and dividend growth, low debt, and a payout ratio under 50%.
- Stock Analysis
Piotroski F-Score: How to Calculate and Screen Stocks in Excel
Piotroski F-Score calculation and screening guide covering all 9 criteria, step-by-step Excel implementation, stock screening workflows, and practical ranking strategies using MarketXLS.
- Stock Analysis
Investing in Indian Stocks
Four ways to invest in Indian stocks from abroad: Indian ADRs, India ETFs like INDA and INDY, an international broker with NSE access, or an Indian broker account.
- Portfolio & Investment Strategies
Correlation Matrix: The Complete Guide to Portfolio Diversification Analysis
How to build and read a stock correlation matrix in Excel: pull prices, compute returns, use CORREL for each pair, and apply the results to diversification.
- Portfolio & Investment Strategies
Charles Schwab Portfolio Management: Exporting Data to Excel for Advanced Analysis
Charles Schwab users can export positions to Excel as .csv or .xls and analyze them with MarketXLS formulas. Learn how to build risk dashboards, calculate efficient frontiers, and analyze holdings beyond Schwab's built-in tools.
- Stock Analysis
Investing in Chinese Stocks
US investors can buy Chinese stocks three ways: US-listed ADRs such as BABA and JD, China-focused ETFs, or a brokerage with access to Hong Kong and mainland exchanges. How each works and the main risks.
- Stock Analysis
Drone Stocks: To Invest or Not to Invest?
Drone stocks as of March 2021: AeroVironment, Boeing, EHang, Nvidia, and Amazon, with a MarketXLS WACC template to compare their cost of capital in Excel.
- Portfolio & Investment Strategies
Risk Parity Portfolio in Excel: Explanation & Construction
Risk parity weights assets so each contributes a similar share of portfolio risk. The inverse-volatility formula, and a worked 4-asset reweighting example in Excel with MarketXLS.
- Options Trading
Trading in Bull Put Spread Options Strategy (Using Excel)
Bull put spread explained with a worked TSLA-style example: max profit, max loss, breakeven, and how to model the strategy in an Excel template.
- Portfolio & Investment Strategies
The Defensive Investor (Utility) Strategy by Benjamin Graham
Benjamin Graham's Defensive Investor screen: rules for size, financial strength, earnings and dividend history, growth, and P/E, plus a MarketXLS template.
- Stock Analysis
Lynch Screen (Screening Stocks Using Excel)
The Peter Lynch screen looks for profitable, low-debt companies growing earnings about 20% to 25% a year at a P/E no higher than that growth rate. Criteria and how to check a stock in Excel.
- Options Trading
Trading in Bear Call Spread Options Strategy (Using Excel)
A bear call spread sells a lower-strike call and buys a higher-strike call for a net credit. Max profit, max loss, breakeven with a worked example and an Excel template.
- Options Trading
Collar Option Strategy: A Synopsis
Collar option strategy showing stock plus put plus call equals zero-cost hedging with payoff diagram
- Options Trading
Option Trading with MS Excel: Protective Puts Strategy
A protective put is buying a put on stock you own to cap your downside. Maximum loss is the stock price minus the strike plus the premium; upside stays open.
- Options Trading
Option Trading with MS Excel: Long Butterfly Strategy
A long call butterfly buys one low-strike call, sells two middle-strike calls, and buys one high-strike call. Max loss is the debit; max profit comes at the middle strike.
- Options Trading
Short Strangle Option Strategy
A short strangle sells an out-of-the-money call and put with the same expiry to collect premium when a stock stays in a range. Risk is unlimited.
- Options Trading
Options Trading Income: Track and Manage Your Profits in Excel
Options trading income requires careful tracking of premiums collected, assignment events, and net P&L. Learn how to build a complete income tracker in Excel with real formulas.
- Stock Analysis
High Volume Stocks
High volume stocks are the most heavily traded shares. Why volume matters for liquidity and trends, how to read volume with price, and how to find them in Excel.
- Stock Analysis
High Volatility Penny Stocks: Tracking and Trading (With MarketXLS)
Penny stocks trade under $5, are thinly traded, and swing sharply. Why they are volatile, the main risks, and how to list and track their volatility in Excel with MarketXLS.
- Portfolio & Investment Strategies
Portfolio Risk Management: Complete Guide to Measuring and Managing Investment Risk in Excel
Portfolio risk management is essential for protecting your investments and achieving long-term financial goals. Learn how to measure, monitor, and manage portfolio risk using Excel and MarketXLS.
- Options Trading
Trade Options on Robinhood: Complete Step-by-Step Guide for Beginners (2025)
Trade Options on Robinhood with this complete beginner's guide covering approval levels, order types, strategies, Greeks, and how MarketXLS enhances your options analysis in Excel.
- Options Trading
Options Theta: Understanding Time Decay and How to Use It in Your Trading
Options theta measures the daily time decay of an option's price. How theta works by moneyness, expiration, and volatility, plus MarketXLS formulas for Greeks analysis in Excel.
- Options Trading
Long Call Options Trade/Strategy: How to Manage and Track
What are Long Call Options?A long call is buying a call option because you expect the underlying stock to rise above the strike price plus the premium before expiration.
- Options Trading
SPY: SPDR S&P 500 Trust ETF (Most Actively Traded Option)
SPY, the SPDR S&P 500 ETF Trust, launched in 1993 as the first US-listed ETF and tracks the S&P 500. How it works and why SPY options are so heavily traded (data as of Feb 2021).
- Options Trading
Short Call Put: Managing and Tracking
A short call or short put means selling an option to collect premium. How each works, and a worked MSFT bear call spread with max profit, max loss, and breakeven.
- Stock Analysis
Beneish M-Score: Detect Earnings Manipulation in Excel
Beneish M-Score guide covering all 8 variables for detecting earnings manipulation, the complete formula, step-by-step Excel calculation, and screening strategies using MarketXLS.
- Options Trading
Long Put Option Strategy: Managing and Tracking
What is a long put option strategy? A long put is a bearish trade where you buy one put option and profit if the stock falls below the strike price minus the premium you paid.
- Options Trading
Diagonal Spread: Complete Options Strategy Guide with Excel Setup
Diagonal Spread options strategy explained — setup, Greeks impact, risk management, variations, and how to model diagonal spreads in Excel with MarketXLS formulas.
- Options Trading
Options for Dummies: With Tools Used by Hedge Fund Managers
Options explained simply: how hedge funds use options to reduce risk, why the VIX matters, common volatility-based strategies, and Excel templates to track them.
- Stock Analysis
Pharma Penny Stocks: How to Research and Screen Pharmaceutical Small-Cap Stocks in Excel
Pharma penny stocks require thorough research and screening before investing. Learn how to analyze pharmaceutical small-cap stocks using MarketXLS formulas for fundamentals, revenue, and valuation.
- Stock Analysis
Top 5G Penny Stocks (2021)
Five low-priced 5G telecom stocks analyzed in December 2020 (Vodacom, MTN, MTS, Turkcell, KPN), with their 5G rollout status and prices at the time.
- Stock Analysis
Tech Penny Stocks: Analyzing Using MarketXLS
Tech penny stocks are technology shares trading under $5. What to check before buying (EPS, P/E, sales growth, price-to-sales) and the liquidity and regulatory risks.
- Stock Analysis
Dividend Paying Penny Stocks: MarketXLS
Dividend-paying penny stocks (under $5) are rare. How to find them in Excel with the MarketXLS stocks-under-$5 list and =DividendYield(), and what risks to check.
- Options Trading
Best Options to Buy (Use MarketXLS for Research)
Best options to buy research guide showing screening criteria for volume, IV, and spreads in Excel
- Options Trading
LEAPS Options: Complete Guide to Long-Term Equity Anticipation Securities
LEAPS options are long-term options contracts with expiration dates over one year out. Learn what LEAPS are, top strategies like the poor man's covered call, and how to analyze them using MarketXLS Excel formulas.
- Options Trading
Implied Volatility Screener: How to Screen, Filter, and Find High-IV Options in Excel
Implied Volatility Screener helps options traders find contracts with the highest or lowest IV for premium selling and volatility strategies. Learn to build an IV screener in Excel with MarketXLS.
- Options Trading
5 Successful Options Strategies Using the Most Liquid Options
Five option strategies (bull call spread, bear put spread, iron condor, long call butterfly, protective collar) and how to check option liquidity first.
- Stock Analysis
High Volume Penny Stocks (Filter Penny Stocks Using MarketXLS)
Penny stocks trade under $5 and are often illiquid. How to list stocks under $5 in Excel with MarketXLS and sort them by volume to find the most actively traded.
- Options Trading
Delta Neutral
Delta neutral strategy showing portfolio balancing for volatility-focused trading with payoff diagrams
- Options Trading
Short Call Options: Complete Guide to Selling, Tracking & Managing in Excel
Short call options give sellers premium income in exchange for unlimited upside risk. Learn how to set up, track, manage, and roll short calls using MarketXLS in Excel.
- Options Trading
Call Ratio Backspread: Complete Options Strategy Guide with P&L, Greeks & Excel Setup
Call Ratio Backspread is a bullish options strategy that offers unlimited upside profit potential with limited downside risk. Learn the complete setup, P&L scenarios, Greeks analysis, and how to build it in Excel.
- Options Trading
VWAP Strategy: How to Use Volume Weighted Average Price for Options Trading
VWAP Strategy uses the volume weighted average price to identify fair value, time entries, and improve execution in options trading. Learn to calculate VWAP and combine it with options strategies using MarketXLS.
- Options Trading
Put Ratio Backspread Strategy (Manage Your Risk)
A put ratio backspread sells one higher-strike put and buys two or more lower-strike puts. It profits most on a sharp drop and loses most at the long strike.
- Options Trading
Call Ratio Spread: Setup, Payoff, Greeks & Risk Management Guide
Call ratio spread strategy explained with setup, payoff diagrams, Greeks analysis, and risk management. Learn when to use this neutral options strategy and track it in Excel with MarketXLS.
- Options Trading
Put Ratio Spread: Setup, Payoff Diagram, Greeks & Risk Management
Put ratio spread guide covering strategy setup, payoff diagram, max profit and loss calculations, Greeks analysis, risk management, and Excel implementation using MarketXLS options functions.
- Options Trading
How to Manage Risk When Trading Options for Income
Manage options income risk with four rules: size each trade at 1-2% of capital, use defined-risk spreads, diversify underlyings, and set an exit before entering.
- Options Trading
Option Chain Data Thinkorswim: Complete Excel Import Guide 2025
Get Thinkorswim option chain data into Excel three ways: Scan tab export (static), RTD link (live, Windows only), or MarketXLS QM_GetOptionChain without ToS running.
- Options Trading
Selling Weekly Put Options: Complete Income Strategy Guide with Excel
Selling weekly put options for income explained with strike selection, risk management, Greeks analysis, and step-by-step Excel tracking using MarketXLS option chain and pricing formulas.
- Options Trading
The Wheel Strategy For Options (Explained With Example)
The wheel strategy sells cash-secured puts until assigned, then sells covered calls on the shares until they are called away, and repeats. Steps, scenarios, and a worked example.
- Options Trading
Options Trading Excel: Build a Complete Options Spreadsheet from Scratch
Options trading Excel spreadsheets give traders real-time option chains, Greeks tracking, P&L analysis, and strategy modeling directly in their familiar Excel environment.
- Options Trading
How To Use Options Trading As An Income Generation Strategy (With Ease)
Option writing turns stock holdings into income: sell covered calls on shares you own or cash-secured puts on shares you want to buy, and keep the premium.
- Stock Analysis
Stock Drawdown
A stock drawdown is the percentage fall from a peak to a later trough. How to calculate maximum drawdown and use MarketXLS drawdown functions in Excel.
- Options Trading
Using MarketXLS to Find the Best Cash-Secured Put Option to Sell
Compare cash-secured puts by annualized return: (bid - fees) / strike x 365 / days to expiration. A worked Walmart example using a MarketXLS option chain in Excel.