Optionable Formula in Excel

Use the Optionable formula in Excel (implemented as IsOptionable) with MarketXLS to quickly determine if a given security offers option contracts. This function checks a symbol and returns "Yes," "No," or "Not sure" based on availability or "NA" if data is unavailable.

Understanding Optionable

• Purpose: The Optionable formula helps you identify whether options are traded for a specific symbol directly within Excel.
• Use Cases:
  • Building trading strategies that rely on optionable securities.
  • Filtering watchlists to include only stocks with option availability.
  • Integration within dashboards to streamline your market analysis workflow.
• Key Benefits:
  • Saves time by eliminating the need to manually verify if a symbol has options.
  • Automates portfolio screening for optionable securities.

Syntax and Parameters

=IsOptionable(Symbol)

Return Value:

• "Yes", "No", or "Not sure" if the provider has partial information.
• "NA" if the symbol is invalid or if there is an error retrieving data.

?? Note: This function relies on an active MarketXLS license. If the license is invalid or if data cannot be retrieved, the function returns "NA".

Examples and Usage

Below are some practical examples of using IsOptionable to quickly identify if option contracts are available:

1. Basic Stock Symbol

   =IsOptionable("MSFT")

   Returns "Yes" if Microsoft stock options are available.

2. Index Symbol

   =IsOptionable("^SPX")

   Checks if the S&P 500 index is optionable.

3. Option Symbol

   =IsOptionable("@MSFT 110122C00020000")

   Verifies if the specified Microsoft option contract is recognized as optionable or returns "NA" otherwise.

4. Cryptocurrency Symbol

   =IsOptionable("BTCUSD:DEFAULT")

   Determines if options are traded for the crypto symbol.

? Pro Tip: Combine IsOptionable with other MarketXLS functions like Sector or Industry to create dynamic screening tools in Excel for optionable securities.

Common Questions

1. What happens if I enter an invalid symbol?

   • The formula returns "NA" if the symbol is invalid or not found.

2. Can I use cell references for the symbol?

   • Yes. For example:

     =IsOptionable(A2)

     Where cell A2 contains the ticker symbol.

3. What about performance considerations?

   • Each call uses web data retrieval. For large datasets, consider limiting the frequency of updates to optimize performance.

4. Does it work with international tickers?

   • If MarketXLS supports that ticker, you should get a valid response; otherwise, you may see "NA" for unsupported symbols.

5. Are there any related tools or functions?

   • Sector: Retrieves the sector of a symbol.
   • Industry: Provides the industry classification.
   • Float Shares: Returns the number of shares available for public trading.
   • Market Capitalization: Displays the total market value of the outstanding shares.
   • Shares Owned: Shows the number of shares owned by the promoters of the company.