We are excited to announce the release of ProWriter PLUS!

Hello Tegan

What is ProWriter Plus? Our development team have been working hard on a simple software that will revolutionise the way you plan your Covered Calls options trades! In short, ProWriter Plus is software that resides on your computer and may help you to become a better and more profitable trader.  By utilising the planning tools in the software, you will have the ability to create trading plans instantly from the ASX options that you can pick and choose from. From these plans you can use them for your own trading online or email them to your Advisor to be executed for you.

The Process

[Click Images to Enlarge]

ProWriter PLUS opens with the process window (shown above) which displays the flowchart of how to develop your trading plan.  Each area of the chart can be opened to perform tasks that will help form your final trading plan.

Filters

ProWriter is equipped with ‘Advanced Searching Algorithm’ (ASA) which gives you the power to search and analyse every optionable stock on the ASX!  The search criteria, shown in the screen shot above, allows you to select by:

– Stock Table [List All, List Highest 10 or View Selected Stock (for example you already own the stock)]
– Search Type [Current Month, Current and Next Month, Next Month and All]
– Price Range [Multiples of $5 up to and above $50 shares]
By using the ASA, you have the ability to generate a wide array of reports which you can tailor to your personal investment requirements!

ProWriter Plus has over 28 reports from the Top 10 by Month and Price to All Companies Showing all Options for all Months.

Our personal favourite is – ‘List All Companies‘ for ‘Current Month‘ within a particular price range. This report lets you scroll through all company’s options available within a given price range and quickly see the best deal going, then easily check the companies share price trend.

I often use this report when I have a limited capital left to invest for that month.  The report often shows me a great deal and I don’t miss an opportunity.

Call /Put Reports

Call /Put Reports

ProWriter Plus is a PC based software that uses stock option data downloaded hourly via the internet to automate the Covered Call trading system, as used by MyCC. ProWriter Plus Users can quickly create a report showing all available Options [both Call and Put] and the Yields In, At and Out of the Money for Exercised and Not Exercised outcomes.

Multiple Table Reports

For traders that like to use Puts, Prowriter can be setup to view Call and Put data on the same screen to compare same strike options etc.

Trend Charts

If you wish to buy shares and then write call options against those shares it is important that you appreciate the underlying share price trend.

A quick look at the underlying company’s share price history, can give us a sound indication of the stock’s price movement; up, down or sideways. Share price history can be displayed graphically using its recent price history charts. MYCC has included price history charts in the smart reports.When you are reviewing the Top 10 by Yield report, or any of the MYCC reports, just click on the Company Name, in the report, and the chart shown below will appear.

The chart is a six month share price history “candlestick” graph, including Volume and MACD (Moving Average Convergence Divergence). Current 20min delayed prices are also featured above the stock chart.

Shortlist

Any deals that you like in the reports can then be transfered into the shortlist with a click of the mouse. The shortlist will allow you to choose only the deals that you want and also note that will show if dividends are available for your stock inb the right column.

Dividends

You can also view any dividends approaching by going into the Dividends table.

Trading Plan

After you have created your shortlist, your deals are then passed into your trading plan! Your trading plan allows you to allocate how many shares you will purchase, modify the premium amount, add your brokerage costs and factor in any dividends. The plan will then automatically calculate your final return after costs making a very accurate plan! This plan can then be sent to your broker via an email attachment or printed out for your records.

ProWriter Plus is only available from www.mycoveredcalls.com.au