What is Sensibull option chain? What are the features of this platform and how can I interpret everything?
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- Updated On:02-Apr-2024
- Replies:4
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-
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-
- 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).
- 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.
- 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.
The Option chain feature of Sensibull provides an excellent visual interpretation of the market and the directions where it's going. With charts you can see prices of all at a single place. It also consists of the following:
1. FII Data
Foreign Institutional Investors in short FII are the biggest players in the option market. Here in the Sensibull option chain you can see the FII data. The reason it's so crucial is because these big players have a lot of valuable information about the market.
2. Option Trading Tutorials
You cannot see and understand the option trading data unless you have some knowledge about it. Here at Sensibull option chain analysis feature you get access to various tutorials on option basics, trading psychology, right trading principles and many more.
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.
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Discussion (3)
can i see option charts in option chain
can i see the options charts in option chain
In this current day and age, options trading has become the new cool thing that everyone wants to try. There are many option trading platforms out there that provide various Option trading tools. Sensibull and Opstra Definege are 2 of the most prominent names in the industry.
Both of them provide all the necessary tools like OI (Open Interest) Charts, PCR (Put-call Ratio), IV (Implied Volatility) chart, etc. But the main question lies, which one of them is a better platform for Options trading. Let's find the answer to that question.
If you're looking for a straightforward and comprehensive take on options trading, then Sensibull should do the job perfectly. However, if you're and expert and want more complex trading tools, then Opstra is the one to choose.
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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.
Quantsapp is an online Analytics platform that provides various tools for Options and Derivatives traders. Quantsapp proprietarily provides various solutions to option traders in order to increase their profitability. One of its unique indictors is the "Trap Indicator" which helps traders identify opportunities based on the trap situations created in the markets. Discover how it can be utilized.
Virtual trade is a feature in Sensibull which allows the users to be educated about option trading by trading in real stock scenario with real money. Sensibull will also helps the users to learn about trading in much detail.
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arpit seth
Yes, in Sensibull, you can get access to the Options Chain where you can get all the essential features such as 'IV', change in Open Interest % (OI), LTP of Call Options, and Put Options, and much more. The OI chart shows the total open interest in individual strike prices with the help of colored bars which makes it pretty easy to understand. To perform advanced OI analysis, you'll have to subscribe to any of the paid plans, available on the platform.