Easily Identify Option Call or Put in Excel

The QM_CallPut function in MarketXLS helps you determine whether a given options symbol represents a “Call” or a “Put.” By specifying the symbol, MarketXLS taps into QuoteMedia data to retrieve relevant information. This is particularly useful when analyzing US market options within Excel spreadsheets, as you can efficiently organize and filter data to streamline trading decisions.

Why Use This Function?

• Quickly verify if an option is a Call or a Put.
• Automate options data retrieval for portfolio management.
• Integrate seamlessly with other MarketXLS functions and analyses.
• Reduce manual lookups and data entry errors.
• Trigger dynamic workflows or calculations in spreadsheets based on whether the option is a Call or Put.

How to Use in Excel

In a cell, enter the function as shown below:

=QM_CallPut("IBM230120C145")

• Replace "IBM230120C145" with your own option symbol.
• If valid data is found and everything is configured properly, you should see either "CALL" or "PUT" (or a similar underlying value from the QuoteMedia service).
• If the function requires a refresh or your license is invalid, you may see messages like "Refreshing," "NA," "ERR," or "Please Refresh."

Parameters Explained

• “IBM230120C145” could represent an IBM option expiring on January 20, 2023, with a strike price of 145, specifically a Call (“C”).
• You might see “NA” if the symbol is invalid or the data cache recognizes the symbol but holds no valid data for “callput.”
• If the MarketXLS license isn't configured, you could see a specific subscription-related message.
• If data is in the process of refreshing, the function may temporarily show “Refreshing.”

Example Usage

Basic Examples

1. Identifying an Option Type
   • Cell A1: =QM_CallPut("AAPL230120C150")
   • Returns "CALL" once data is fetched from QuoteMedia, indicating this is a Call option for AAPL. If MarketXLS is updating or can’t locate data, you might see “NA” or “Refreshing.”

2. Passing a Stock Symbol
   • Cell A2: =QM_CallPut("IBM")
   • Because “IBM” is a standard equity (not an option), the function may return “NA” if no "callput" data is available.

3. Invalid Symbol Check
   • Cell A3: =QM_CallPut("INVALIDSYM")
   • Returns “NA” or possibly “Please Refresh” if the data service cannot identify this symbol.

Advanced Scenarios

• Strategy Validation for an Options Portfolio
Combine QM_CallPut with other MarketXLS functions (e.g., to check implied volatility, last trade price, or greeks) to confirm that an option symbol in your watchlist truly matches the expected contract type.
• Bulk Analysis of Multiple Contracts
If you have a list of options in a column (e.g., A1:A20), you can apply QM_CallPut down the column to instantly verify each contract is a call or put. This helps when you’ve exported symbols from brokerage software or screening tools and need quick categorization.
• Integrating with Conditional Logic
You can nest the function in IF statements to filter or highlight certain options. For example:
=IF(QM_CallPut(A2)="CALL","Proceed","Review")
This will instruct Excel to dynamically route your workflow depending on whether an option is identified as a call or a put.

Common Questions and Troubleshooting

• “Why do I see ‘NA’ instead of CALL or PUT?”

• Your symbol may be invalid, or MarketXLS may not have the “callput” metric in the cache. Confirm the symbol format, especially for options.
  • “What does ‘Refreshing’ mean?”
• MarketXLS is currently updating data. Give it a moment, then press Refresh in your MarketXLS toolbar if needed.
  • “I got ‘Please Refresh.’ What should I do?”
• Initiate a refresh in MarketXLS to force an update. Once the data is pulled from QuoteMedia, the function should return expected values.
  • “How do I fix licensing or configuration errors?”
• Go to Settings/Help >> Settings >> Data Subscriptions in MarketXLS. Ensure your QuoteMedia account is active and properly linked to MarketXLS.

By leveraging QM_CallPut in Excel with MarketXLS, you can seamlessly classify your option symbols as calls or puts, expedite your options analysis, and maintain organized investment worksheets with maximum accuracy.