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How do I change the options price?

In addition to changing an options price by editing the OBATE field, you can also change it by editing the OPRICE field. The OPRICE value displays the option price that is passed to the pricing model. It is directly connected to the OBATE field. If the OBATE is Last, the Last price shows up in the OPRICE field and gets passed to the pricing model.

Given the role of the OBATE field in determining the operative pricing value, there are a couple of ways to change the OPRICE value. First, you can open the OPRICE field and enter an alternate value. This, certainly, is the more direct approach. The second method is more indirect, and in some ways affords an interesting technique for performance forecasting.

Suppose you have an underlying OBATE set to Recent, and options records that contain both Last and OPRICE fields. If you change an OBATE to Last, you can change the OPRICE field by either opening the OPRICE field and entering an alternate value, or by opening the Last field and entering an alternate value. Both methods change the OPRICE value, and therefore the price passed to the pricing model. For an example of the indirect technique, consider the following example:

1. Open the Bid field.

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2. Enter an alternate value, like 1/2.

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When you enter 1/2 in the bid field, the OPRICE value changes to 1/2.