The main content window houses many tabs. Let’s discuss one of the most important panel i.e. the Option Chain. The option chain window displays all expiry series associated with an underlying stacked in the form of rows. Upon clicking on the green arrow, the entire option chain comprising of the individual CALL and PUT strikes of that series will open up.
We have two important controls of the option chain on the TOP bar,
These are some of the important statistics every option traders use. Options Desk provides users to check Implied Voatility (IV), Open Interest (OI), Put Call Raios (PCR) and Max pain associated with each of the series. We just need to hover mouse cursor over each series to check the same. We can also change it in setting “Series Statistics” to “Always Visible” instead of hover.
This is a Series Level statistic, for checking each strike specific statistic we will see further in the document.
We have over 30+ fields to choose.
These are statistics displayed at each strike price in the option chain. To choose a field and add to the chain, simply RIGHT-CLICK on the Column Headers
To see the option geeks we need to add it from the Field settings. However, if we just add Delta and hover the mouse cursor over it, it displays all option geeks of that particular strike.
If we add OI Sense from field settings, the inbuilt logic shows whether a particular strike is in Long Buildup, Short buildup, short covering or Long unwinding
The small BLUE and RED dots at the end of each series denotes whether the data in the respective series is signaling bullish or bearish pattern. Many other important fields must be explored by each user as per their trading style. The Buy/Sell button are visible while hovering on each strike and can be used to buy/sell naked in paper mode or Add to a existing strategy
You can add Paper Positions in a number of ways
In the option chain itself we can see our open position quantity and Break even points. The Green and Red Bars on left of strike prices indicates BEP, the cumulative effect of all open strategy is considered and the strikes where green bars are shown up is the range within which the portfolio would be profitable.
Heatflow view gives us a holistic view of near and farther away series and Call & Put strikes at the same time.
It helps gauge volatility in the overall market while observing significant movement in the farther strike prices. From the view selection option on right hand side of the Top Bar, we need to switch to Heatflow view from ‘Standard View’ which is set by default
To view different fields in Heatflow mode, go to Settings in the Top Bar, and choose from over 10+ fields. Many important fields like OI, OI Change, IV, In the Money Probability etc can be observed of various strikes at the same time.
Straddle view is one of the most talked about and excellent feature on Optionsdesk. It is a must have tool for straddle strategy players.
It gives us the Bid Price to long a straddle and the Ask Price to short a straddle at various strike prices and easy selection of various expiry series as well.
It helps us observe important statistics like Max pain, PCR, OI etc at each strike price along with straddle cost at the same time and also with a quick switch to check prices of other expiry series as well.
Lets take a glance at it here
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