Have you always wanted a place to track all your intraday-related data in one place? Don’t worry! Sensibull Live Options Charts does just that.
We understand how crucial it is for traders to see all important data points like Intraday PCR, Intraday OI change, Max Pain etc., in one place to make informed decisions quickly.
To help traders make better trading decisons through our tools has always been our motto, and to take another step in that direction, we are launching the new Sensibull Live Options Charts and Multi Straddle-Strangle charts.
This tool has 11 charts that give you a complete holistic view of the market, which will help you take an informed decision.
In this chart, you get the following:
1. Multi Straddle-Strangle Chart:
This chart lets you add multiple straddles, strangles, or custom strategies and compare the prices of all those strategies. You can add up to 6 strategies, and each strategy can contain a maximum of 6 options.
Strategy prices shown in this chart are computed based on the ‘Sell Positive, Buy Negative’ convention.
For example, consider a strategy comprising 1x 19300CE Sell at 123.2 and 2x 19400CE Buy at 65.4. The price of this strategy will now be 123.2 – 2 x 65.4 = -7.6.
You can also open this chart in a new tab to see the strategy detail chart, where you can see the detailed break-up of the data related to the currently selected strategy. You can focus on a particular strategy by temporarily hiding the others. You can see the following graphs in the strategy detail chart.
- Strategy price
- Strategy VWAP
- Price curves of all the individual options that this strategy contains
- Cumulative OI of all the call options in this strategy
- Cumulative OI of all the put options in this strategy
2. Open Interest – Options:
This chart shows the Open Interest (OI) in options contracts of a stock or index. When Put OI increases, options sellers are selling puts. This means the market may not go down. When Call OI increases, options sellers are selling calls. This means the market may not go up.
Open interest analysis works best in NIFTY Weekly Options. It may not work for BANKNIFTY, FINNIFTY, single stocks, etc., that do not have significant OI.
If multiple expiry dates are selected, we add the OI of options contracts of selected expiry dates and show the sum. Support for custom option strike selection is Coming Soon.
3. Open Interest Change – Options:
This chart shows the change in open interest in options in a time interval. For example, a call OI change of +2.1L at 2:15 PM, with a 15-minute time interval selected, means that 2.1L call OI was added from 2:15:01 to 2:29:59. Support for custom option strike selection is Coming Soon.
4. Put Call Ratio:
PCR is the number of puts divided by the number of calls. A high amount of puts indicates that the option sellers are not afraid to sell puts, which means the market may not go down. A high amount of calls indicates that the option sellers are not afraid to sell calls, which means the market may not go up.
When puts are more than calls, PCR is more than 1; when calls are more than puts, PCR is less than 1. PCR above 1 is considered bullish, and a PCR below 0.7 is considered bearish.
PCR works best in NIFTY weekly Options and may not work for single stocks without significant OI. Using the settings, you can choose to see the PCR of only a selected strike range. Currently, you can choose a continuous strike range above and below at-the-money (ATM) strike. Support to select a custom set of strikes is coming soon.
5. Max Pain:
Max pain theory says that a stock or index will expire at a price where the option sellers get the least loss. This price is called the max pain price. This theory is expected to work because option sellers are big players and are usually right.
Although it is widely used, there is no evidence that this is reliable. You can see the max pain of up to 4 expiries.
6. Open Interest – Futures:
This chart shows the open interest in futures contracts of a stock or index. If multiple expiry dates are selected, we add the open interest of futures contracts of selected expiry dates and show the sum.
7. Open Interest Change – Futures:
This chart shows the change in open interest of futures contracts in a time interval. For example, a Futures OI change of +10.1L at 2:15 PM, with a 15-minute time interval selected, means that 10.1L futures OI was added from 2:15:01 to 2:29:59.
8. Option IV:
This chart shows the implied volatility (IV) for selected option strikes. A high IV indicates that the option premium is high, and a low IV indicates that the option premium is low. Currently, the chart shows the IV for the at-the-money (ATM) strike at any given point in time. Support to select multiple custom strikes is coming soon.
There are two modes to select expiry dates: manual and automatic. You can choose any expiry from available expiry dates. In automatic mode, we show you the most relevant expiry for a given point in time. In most cases, the expiry picked is the nearest upcoming expiry.
However, on expiry day, we pick the next expiry and show the IV of the At-the-money (ATM) option strike of that expiry as ATM IV. We use the next expiry on an expiry day because IV values grow very large when there are only a few hours left to expiry.
9. IV Percentile:
This chart shows the Implied Volatility Percentile (IVP) for the ATM strike of a selected expiry. A high IVP (more than 80) indicates a relatively high IV, and a low IVP (less than 20) indicates a relatively low IV. For single stocks, IVP works well for the current expiry.
IVP is not reliable for next month’s options. Here also, you can choose to switch between manual and automatic modes of selecting the expiry dates.
10. Stock and Futures Prices:
This chart shows the price of a stock or index and its Futures contract.
11. Futures Volume chart:
This shows the quantity of a stock or its futures contract traded in a time interval. For example, the volume bar at 10:00 AM with a 5m interval is the quantity traded from 10:00:00 to 10:04:59. Using the settings, you can see spot and futures volumes combined or separately.
For indices like NIFTY and BANKNIFTY, we show only futures volumes. This is because they are not traded directly.
Apart from all this, you can also do the following:
1. Switch between timeframes:
2. You can focus on a particular section of the chart or expand to see the historical data:
3. You can seamlessly jump between charts:
4. You can enable dark mode & reorder the charts as you please:
5. You can search for a particular stock and view the Live Options data for it:
Try this feature now! It’s free for a while