GoCharting Docathlon

OPTIONS OPEN INTEREST & VOLUME PROFILE

Table of Contents

What is Options Open Interest Profile? #

GoChartinng Price Chart in the Options Desk platform has the ability to plot your CALLS and PUTS Open Interest across the various strikes in the form of Profiles. This is an extremely powerful tool to signal bullish and bearish sentiments.

As we all know, price action and sentiment changes first impact the Options markets and then move into the Futures and Spot market. By couping Options data with Spot/Futures price charts, we provide a unique tool that provides an immediate edge to the trader signally market sentiments. The market sentiments are measured in terms of Open Interest and Volume Profiles across Calls and Put Strikes in a single unified view

How to read this tool? #

Above is an image of the Options OI Profile on the Price Chart

  • Calls Open Interest -> Facing Left
  • Puts Open Interest -> Facing Right
  • Price Chart -> Underlying Spot/Future

Why is this tool important? #

It allows you to plot realtime Support and Resistance based on sentiments in the Options Market (FNO)

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How can I activate this tool? #

First you have to go to Options Desk Price Chart Tab

Next searing for the Chart Bottom Bar. There is a OI Profile Menu in the Chart Bottom Bar

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Why so many profiles lined up? #

By default, it will plot one OI Profile per series in the Options Chain of the underlying And the Time Axis is syned to the Series Expiry Date

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Can I Combine these series to show a Cumulative OI Profile similiar to Composite Volume Profile? #

Yes, you can. Select the Cumulative option in the menu

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What do the colors mean? #

  • Lime Fill => Long Buildup
  • Crimson Fill => Short Buildup
  • Lime Hollow => Long Unwinding
  • Crimson Hollow => Short Covering

Can I create the same Options Chain profile based on Options Volume traded? #

Yes, you can. Switch to Volume in the Menu So now it is a Volume Profile of the Options Chain on the underlying Price Chart

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