We have produced an Article from a client using TrueData Options Decoder listed in a thread on this channel where he highlighted 10 powerful features of TrueData Options Decoder.
We have listed them below for our Options Decoder client's benefits.
1) - PE CE Difference:-
This feature combines the OI of call options and puts options and plots against each other.
At one glance, we can know what big players are doing!
(If they are selling more CE means, they are bearish on the underlying instrument)
2) - Advance/Decline:-
This feature displays all the F&O stocks in one place.
In one click, we can see the stocks in any order (like an increase in price, increase in OI, or decrease in volume, etc).
A highly useful feature for options traders!
3) - Open High:-
This feature displays all the strike prices that have an open high (or open low) for the selected instrument.
If many CE strikes show "Open Low", then the market is bullish!
4) - IV Price & OI Chart:-
This feature plots CE and PE vs. Open Interest (OI) for the ATM strike price.
Always Remember:
CE Long Build Up + PE Short Build Up = BULLISH
PE Long Build Up + CE Short Build Up = BEARISH
CE Short Build Up + PE Short Build Up = SIDEWAYS
5) - Future Analysis:-
This feature provides the future price and open interest interpretation (like long buildup, short buildup, long unwinding, etc)
6) - Future Chart:-
This feature plots future prices along with VWAP and OI Change.
A highly beneficial feature for intraday traders!
7)- Options Chain:-
Traders don't need any introduction for this feature.
It provides all the options for greeks info along with OI and volume here.
8) - Straddle/Strangle Chart:-
Nowadays, most options traders deploy either a straddle or strangle strategy as part of their trading.
9) - OI Premium Graph:-
This feature plots cumulative OI and Change in OI for the selected instrument.
Highly beneficial for both option buyers and option sellers!
10) - Weekly/Monthly OI:-
This feature explains price-open interest interpretation on a weekly/monthly basis.
Note: If you are new to open interest (OI), then read this article (https://www.profiletraders.in/post/the-power-of-op... to learn how to use it in intraday/options trading.
Special Thanks to Mr. Indrazith Shantharaj for posting it on Twitter on behalf of TrueData!
Click here to visit the Twitter link of Mr. Indrazith Shantharaj.