I’ve been option trading for about 2 years. I currently use excel and when making a trade I enter date, option type, underlying stock, expiration date, premium or cost, delta, number of contracts. Then when I exit, I enter close date, exit price. If I roll or an assignment occurs, I have a column for tagging all subsequent related trades (trade linking/grouping). I can then analyze and modify when needed. Some manual inputs but Excel works for me.
So my post is to get a better understanding and to see what I am missing or just not understanding. I get the obvious for those that trade a large volume of options daily. For them, I assume they just upload from their trading platform to excel. I always see posts regarding tools such as an app or software for options trading. I get that some people are trying to sell a service but I’m really trying understand what the benefit is for anything outside of excel.
For those that have used excel and other methods, what are the advantages non excel methods of tracking? I’m not looking for promotion of your certain tracking apps or software. Thanks!