Introducing AI-Powered Insights
Last few days: Get 10%-30% off on subscriptions!
0 days left to enjoy the discount
Loading...

Option Chain Analysis

Screen and analyze option chain data across multiple stocks with advanced filtering and live updates.

27-Feb-2025
Live Updates

Option Chain Screener

All
All

Select Columns

Understanding the Option Chain Screener

The Option Chain Screener is a powerful analytical tool designed specifically for options traders. At its core, the screener aggregates and processes data for multiple stocks to compute key metrics such as the Put-Call Ratio (PCR), Implied Volatility (IV), and open interest. These metrics are essential for understanding market sentiment and making informed trading decisions.
Data Aggregation and Metric Calculation:The screener connects to a backend API that gathers data from a MongoDB database. It computes several important metrics:
  • Put-Call Ratio (PCR): This ratio measures the trading volume of put options relative to call options. A higher PCR can signal bearish sentiment, while a lower PCR might indicate a bullish outlook.
  • Implied Volatility (IV): IV is derived from the price of options and reflects market expectations of future volatility. The screener calculates both average call and put IV, offering traders insights into the market’s volatility sentiment.
  • Open Interest and Support/Resistance: Open interest data is analyzed to determine significant support and resistance levels. High open interest at specific strike prices suggests these levels may act as barriers to price movement.
  • ATM Price and ATM LTP: The At-The-Money (ATM) price is the strike price closest to the current spot price. ATM LTP (Last Traded Price) is calculated as the sum of call and put last traded prices at this strike. These values provide a quick snapshot of the current market sentiment.
Customization and Filtering Options:The screener offers a high degree of customization. Users can filter the data by:
  • PCR Range: Define a minimum and maximum PCR to filter stocks based on market sentiment.
  • Spot Price Range: Focus on stocks within a specific price range.
  • Trading Status and IV Bias: Quickly filter by market conditions such as “Neutral,” “Trading near Resistance,” or specific IV biases like “Higher Call IV.”
Additionally, users can choose which columns are displayed in the table through a checkbox dropdown. This list includes key metrics such as PCR, Spot Price, ATM Price, ATM LTP, Trading Status, IV Bias, ATM IV, Support, Resistance, and average IV values. User preferences are saved via cookies so that their settings persist on future visits.
Live Updates and Automatic Refresh:For traders who need the most up-to-date information, the screener features a live update option. When enabled, the page refreshes every two minutes to ensure that the data reflects the latest market conditions. This is crucial in fast-moving markets where even a minute-old data point can affect trading decisions.
User Interaction and Data Visualization:The tool is designed with usability in mind. The main table displays a comprehensive list of stocks along with their computed metrics. The table is horizontally scrollable to accommodate multiple columns without cluttering the interface. Moreover, instead of a dedicated “Details” column, clicking anywhere on a row (or specifically on the symbol cell) opens a detailed modal view. This modal breaks down all the metrics into sections:
  • General Information: Shows the symbol, expiry date, trading status, PCR, spot price, ATM price, ATM LTP, and IV bias.
  • IV Metrics: Includes ATM IV, average call and put IV values, and additional details regarding implied volatility.
  • Option Chain Metrics: Displays support and resistance levels along with an analysis of boundaries strength.
  • Significant Option Details: Provides a granular look at the most important call and put options, including their strike prices, last traded prices, open interest, and total traded volumes.
Technical Implementation:This tool is built using React and Next.js. React provides a dynamic and responsive user interface, while Next.js enhances the application with server-side rendering and excellent SEO support. Styling is managed using Tailwind CSS and Ant Design, ensuring a modern, cohesive look that aligns with the purple-themed branding of JustTicks.in.
How the Live Update Mechanism Works:When the live update switch is turned on, a timer is set using React’s useEffect hook. Every two minutes, the page automatically refreshes by calling window.location.reload(). This refresh ensures that traders always see the most recent data without needing to manually reload the page. The implementation is intentionally simple to avoid any performance overhead, while still delivering fresh data in a timely manner.
Persisting User Preferences:The tool uses the js-cookie library to store user preferences for which columns are visible. This means that if you customize your view—say you prefer to hide the “Avg Put IV” column—your settings will be saved for the next time you visit the page. This enhances the user experience by providing a personalized, persistent interface.
Additional Customization Options:Beyond the basic filters, the Option Chain Screener allows for advanced customization. For example, users can adjust the range of strike prices to narrow down the data set to only those stocks that meet certain criteria. There is also an option to choose between live data and historical data, allowing traders to perform detailed back-testing and analysis. These features are particularly useful for refining trading strategies and understanding market behavior over time.
Integration with Other Trading Tools:The Option Chain Screener is part of a larger ecosystem of analytical tools on JustTicks.in. It integrates seamlessly with charting tools, live updates sections, and additional analysis modules such as implied volatility analysis and open interest tracking. This interconnected design provides traders with a holistic view of market conditions and enhances decision-making capabilities.
Practical Benefits for Traders:By providing real-time updates, customizable views, and detailed metrics, the screener enables traders to quickly identify key trading opportunities. Whether you are looking for signals based on a sudden change in implied volatility or trying to pinpoint critical support and resistance levels, this tool offers the insights necessary to make informed decisions. The combination of live data, persistent preferences, and a detailed breakdown of options metrics makes the Option Chain Screener an invaluable resource for both short-term and long-term trading strategies.
Future Enhancements and Scalability:As the financial markets evolve, the Option Chain Screener will continue to be enhanced with additional features. Future updates may include more granular live update options, further customization of filtering criteria, and deeper integration with other market data sources. The robust technical foundation built with React and Next.js ensures that the tool can scale and adapt to meet the evolving needs of traders.
Conclusion:The Option Chain Screener by JustTicks.in is not just a tool—it is a comprehensive platform designed to empower options traders with the data and insights needed to succeed in a fast-paced market. From detailed metrics and real-time updates to user-friendly customization and persistent preferences, every aspect of this tool has been carefully designed to provide maximum value to its users. Whether you are a seasoned professional or a novice trader, the insights provided by this screener can help you refine your strategy, manage risk, and ultimately make more informed trading decisions.