Which is better, Quantsapp or Opstra for Open Interest Analysis?
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- Updated On:23-Jun-2021
- Replies:1
Short Answer
Open Interest analysis is a major part when it comes to Options Trading. A good options trader analysis the Open Interest buildup and change to determine the market sentiment and general direction of the market. There are many platforms that offer the feature of OI analysis. Quantsapp and Opstra Definedge are two prominent participants in this field. Know which is better for you.
Detailed Answer
What is Open Interest?
Open Interest is the total number of active options contracts at a particular strike price. Open interest in a particular asset class denotes the volume or the total trading activity at a particular point in time. A high open interest denotes that more traders are enthusiastically participating in that asset.
Open Interest analysis is an essential factor when it comes to Options trading. It defines the amount of liquidity in a specific options contract. This ensures smooth entry and exits by traders.
Quantsapp vs Opstra, Which is better?
Quantsapp and Opstra Definedge, both are online platforms where an individual can do a number of things including, Open Interest Analysis, Options Algorithm, Strategy building, and much more. The highlight of both the apps is the Open Interest analysis. Let's look at some of the differences between these two platforms.
Opstra
In Opstra the Open Interest analysis is not present under the Free plan. One has to be subscribed to the Paid plan in order to get access to the Open Interest analysis tools. The platform integrates the Open Interest analysis with 3 important data points which are- Options Max Pain, PCR (Put Call Ratio), and change in the Max Pain.
Opstra also charts the Change in OI in a very easy-to-read manner to the users which makes it very simple to use.
Quantsapp
Quantsapp is a relatively new platform when compared to Opstra Definedge. The Open Interest analysis tool is free to use for anyone, as long as you sine-up at their platform. Quantsapp offers more features than that of Opstra like the Open Interest in each Strike price along with the change in the OI. Apart from this it also shows the amount of Call addition, Calls Unwinding, Put Addition, and Put addition at every strike price.
Comparison:
Both the platforms offer great features to their users but there are some points that differentiate both of them.
1. Price
In terms of price, Quantsapp beats Opstra as Opstra requires a paid subscription in order to get access to the Open Interest analysis tool. This is free in Quantsapp which gives it an added advantage over Opstra.
2. User Interface
In terms of usability and UI (User Interface), Opstra might take the lead because of the simple and elegant design that it offers. Beginner traders can find it very easy to read all the data provided in Opstra due to its simplicity. On the other hand, Quantsapp has a bit complicated interface which might not be so beginner-friendly. The overall features provide might be more in Quansapp but the overall simplicity is not that high as that of Opstra.
Conclusion:
In conclusion, it is difficult to choose one from another as both have their fair share of advantages and disadvantages. Anyone who is looking for a free option will find Quantsapp a better option as it offers a lot of features without any cost but at the cost of simplicity. Opstra, takes the lead when it comes to simplicity and UI. It offers a much simpler interface with all the required data points. The only downside to Opstra is that it comes with a price.
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Discussion (0)
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.
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.
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Open Interest is a parameter used by technical analysts and options traders to judge the mood of the market. Open Interest is the total number of outstanding option contracts in a particular strike price of an underlying asset. The OI is an important factor as it defines liquidity and the total number of contracts that are traded at a particular point in time.
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.
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.
Open Interest is nothing but the total number of outstanding option contracts present at a particular point in time. Open Interest is beneficial and harmful in some cases. Open Interest is analyzed by analysts, traders, and investors to determine various aspects of the markets. These include trends, Support and resistance zones, etc. Find out the uses of OI and if a high Open interest is Good or Bad!