What a crossover is
For each underlying the tool tracks how much call (CE) open interest and put (PE) open interest changed over time. A crossover is the moment one of those change series moves across the other. The header of the tool states the two cases in plain words: PE above CE is bullish pressure, and CE above PE is bearish pressure.
| Type | What happens | Typical reading |
|---|---|---|
| Bullish crossover | PE OI change moves above CE OI change. | Put-side additions are overtaking call-side additions, which some traders read as support building or upward momentum. |
| Bearish crossover | CE OI change moves above PE OI change. | Call-side additions are overtaking put-side additions, which some traders read as resistance building or downward pressure. |
Magnitude is the size of the gap between the two changes, shown as net PE minus CE. In the event table it is paired with a star rating, and the chart tooltip shows a signal strength out of 5. A larger magnitude means a wider divergence; a small one is a crossover in name only and is more likely to reverse on the next update.
A tour of the screen
- Filter Options. Choose a data type (such as Index, commodities or stocks), a symbol or all symbols for breadth scans, a crossover type (all, bullish or bearish), a historical date to backtest a session, and live updates for the current session.
- Expanded columns. A switch under Show details that adds more columns to the table.
- Dashboard visibility. Switches to show or hide the Insights cards and the Summary cards.
- Summary cards. Total crossovers with the bullish and bearish split, the average and maximum magnitude, and a recent trend label based on the latest three signals.
- Data view. Two tabs: Latest Crossovers for the current set, and Historical Data for the longer record, each with a count.
- Crossover Timeline. A chart of net OI change (PE minus CE) against time, with bullish and bearish markers and a chart or pie toggle. Hovering a marker shows the symbol, time, CE and PE OI change, net, magnitude and signal strength.
- Latest Crossover Events. A table with symbol, time, signal, CE and PE OI change, price, price change percentage and magnitude with a star rating.
Reading a crossover step by step
- Start with the summary cards: is the split mostly bullish or mostly bearish, and what does the recent trend say?
- Sort the events by magnitude and set aside the weakest ones. Compare magnitudes only within the same kind of contract, since a stock and an index can have very different OI scales.
- Check the time. An early-session crossover has had time to be confirmed or reversed; one in the last few minutes has not.
- Compare the price change shown beside each event. OI change reacts to trading, so a crossover often follows a price move rather than leading it.
- Open the Call vs Put OI chart or the option chain for the strikes behind the signal.
Limits
OI change has a buyer and a seller on every contract, so a put OI increase can be hedging, writing or buying. The tool measures a relationship between two changing series, and a crossover can occur several times in a session as the series oscillate around each other. Live data refreshes about every five minutes, so signals can appear, vanish or repeat. Use crossovers as confirmation alongside price structure and support and resistance, and treat repeated back-and-forth crossovers as a sign of no clear direction.