What is Sensibull Option Chain?

Short Answer

Sensibull is an online Options trading platform that provides various Analysis tools that can be used to have a better understanding of the Options as well as to create and deploy various Option Trading Strategies that can be used by Investors & traders to Speculate as well as Hedge their existing portfolio. The Option Chain is an important feature of Sensibull. It is discussed in detail below.

Detailed Answer

Sensibull is India’s First Option trading platform that allows its users to get access to many important trading tools for Options. Sensibull was founded with the vision of making the retail traders win against the Big Institutions.

Sensibull: Features

Sensibull provides many features such as-

1. Strategies Engine- Here if you have a current analysis on a particular stock or Index then Sensibull helps you to choose the right Strategy for your target.

2. Options Comparison- If one is not certain about the strike price that they want to select then in Sensibull one can compare Options side by side and choose the one according to their needs.

3. Single Click Strategies Execution- Sensibull allows users to Implement multi-leg option strategies such as Iron Condor, Spreads & Butterfly strategies with just one click where all the Options gets executed simultaneously,

Apart from these, there are many great tools that Sensibull offers but one main highlight of Sensibull is its Option chain.

Sensibull Option Chain

Sensibull Option chain provides an Enhanced form of the Option Chain analysis that can be interpreted by Option Traders and Investors to interpret to current Market Mood.

The Sensibull Option Chain has many advanced features, some of them are mentioned below-

  • Real-Time Greeks
  • IV Percentile
  • Change in IV
  • PCR (Put Call Ratio)
  • ATM (At The Money) IV

All these features make Sensibull an ideal choice for traders because these parameters are quite important while making new positions or modifying existing positions. Let's understand the use of some of these features.

1. IV Percentile- the IV (Implied Volatility) is a parameter that decides the rate of change in the option prices. The change in IV is used by traders to decide whether to deploy Price Neutral strategies or Direction strategies. Sensibull shows the IV percentile in individual Strike prices of all expiries.

2. Change in IV Percentile- This feature is unique in Sensibul that tells the exact percentile change in the Open Interest and IV in a particular strike price in real-time. This decreases the work of a trader and analyst to calculate the percentile values of each strike price.

3. ATM IV- ATM or At The Money IV is the IV of the strike price in which the Underlying asset is being traded currently. This is a feature that is not provided by any other software. One has to manually check the IV of the Strike price that is presently ATM but Sensibull makes the job of monitoring the ATM IV very easy.

The Sensibull Option Chain looks very aesthetically pleasing. It is very easy to understand and the UI is very simple to read. The change in the OI is depicted in Red and Green bars which are very easy to read. A brief view of it is shown below-

option chain...jpg

Apart from the Options chain, there is another important tool that Sensibull provides that simplifies reading the Option Chain, That is the OI Analyzer.

It is a one-of-a-kind solution to decode the Option Chain. It has basically 3 parts-

  1. Change in OI with the change in the underlying asset in Real-time- This shows the chart of the change in the OI in real-time. It is similar to reading Candlestick charts but of the change in OI (Open Interest). This is useful to judge the upper hand of the Buyers or the Sellers. It also tells that how the underlying asset moves with the change in Call & Put OI, along with the PCR (Put Call Ratio).
  1. OI vs Strike price- This is a component of the Option Chain but not just any Option Chain. This feature lets you analyze the Option Chain for any previous time period. This tool is important to determine the Support & Resistance points based on previous OI.
  1. OI Change- This feature tells the change in the OI (Open Interest) within a certain time period. One can add any number of days for which he wants to know the change and it can do it easily.

Conclusion-

All the above features discussed above make Sensibull a top pick for traders and investors who want a good and easy-to-use tool that fulfills all their requirements and gets the job done without any fuss. Sensibull is a very useful analysis tool that can be used to analyze the Option Chain and the Open Interest with various tools and parameters.

Tagged With: sensibullsensibull option chainoption tradingsensibull option trading
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Related FAQs

Is Sensibull free option trading platform?

Sensibull is not a complete free website for option trading but it does offer some free features and also a 7 day free trail. For more details read through the expanded version.

Is Sensibull Pro Worth it? How good is the Options Trading Platform?

Sensibull Pro is a package offered by the company in terms of options trading. Features such as a statistical tool, strategy implementation advice, custom strategy build, IV charts, currency options, and more make it unique and different from the other plans. If you're serious about trading in options and are looking for a concrete structure in trading in options, then the pro package of Sensibull makes complete sense.

What is the Best strategy for Options Trading?

There are many complex Option Trading strategies out there but the most profitable are some of the simpler ones. The top 3 of them are Long & Short Straddles, Long & Short Strangles and Bull/Bear spreads.

What is Uncovered or Naked Options Trading?

Naked or Uncovered Option trading is a type of trading/speculating where a Call or Put option is bought or sold by different individuals at the same time expecting different price direction movements. Naked Option trading is a Zero-Sum game which means that the Profit for one is a Loss for the other individual.

What is an Iron Condor trade in options?

An Iron Condor is a 4 legged hedged option strategy that includes selling 1 slightly OTM (Out of The Money) Call as well as 1 Put option and, buying 1 Slightly Far OTM Put & 1 Call options in order to cover the risk of the Naked short positions. This strategy is implemented when the overall outlook of the underlying asset is neutral or rangebound and no major moves in any direction are anticipated. The maximum profit and loss are capped in this strategy, and by hedging, margin benefits can be enjoyed.

What is Call Option and Put Option?

Options are a form of conditional derivatives policy that allows the holder to buy or sell the key asset at a fixed price before or after the agreement expires. The two most impactful options are Call Options and Put Options.

What are Paired Options Contracts?

A paired options contract is an options trading strategy where 2 option contract of the same underlying asset is executed at the same time. It involves a combination of buying a Call option and selling a Put Option or vice versa. Some strategies of a paired options contract are Straddle, Strangle Spread, etc.

What is an Option Spread? Meaning, Types & Examples

Option Spreads are usually used to hedge a position and try to increase the chances to make money. By doing this we limit our profits but most importantly we minimize our losses that is the most important part in trading, which is to preserve our capital.

Can I automate my trading with Zerodha Streak?

Streak is an online Options trading platform that helps Derivative traders to, create, backtest and deploy their own option strategies in the live market. Streak also provides Algo trading to its users without the need for any coding. This automates the process of trading to a large extent.

Is Wisdom Capital Good, Safe & Reliable Broker for Stock Trading and Investing?

Yes, Wisdom Capital is good, safe, and reliable for all stock trading and investing options. However, weighing in on the lack of trading options and the unjustified charges imposed, it is a cause of worry. But other than this, the broker is reliable enough to execute a trade from the platform.