Which is better, Quantsapp or Opstra for Open Interest Analysis?

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.

Tagged With: QuantsappOpstra DefinedgeOpen InterestOptions TradingOpen Interest Anlaysis
Ask your query and our expert community would be happy to help
Discussion (0)
Related FAQs

What can high open interest rate indicate about options?

Open Interest or OI is a parameter to measure the number of Outstanding contracts (Not Squared off) at a particular strike price. The near strike prices to the Spot has higher Open interest compares to OTM (Out of The Money) contracts. Higher OI has many benefits like High liquidity and low spreads and some disadvantages.

Which is better platform Sensibull or Opstra for Option Traders?

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.

Is Opstra options Analytics platform or app free?

Opstra Definedge is an Options analytics platform that provides various tools and screeners to find out the most effective strategies and implement them. Opstra is an excellent platform for beginners as well as advanced options traders who want to build new Option trading strategies and backtest them. Opstra provides many features such as Options Backtesting, Options Simulator, IV chart, OI (Open Interest), and much more.

Is Opstra Options Analytics good strategy builder?

Opstra Options Strategy builder is a platform for Options and Futures traders. It provides many tools for trading derivatives, Some of these include Options Simulator, Options backtesting, IV (Implied Volatility) Chart, Option Chain analysis, and much more. Both beginners, as well as advanced traders, can use this platform as it offers all the necessary features for both these groups.

Is high open interest good or bad?

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!

Which is better Quantsapp vs Sensibull?

Options Trading as a trend is on the rise these days and is gathering more Retail attention. Due to this, the Option Trading platforms which provide tools for options traders are equally in high demand. Quantsapp and Sensibull are two of the prominent players in this field. Identify what are the differences, similarities, and which one to choose among the two.

Is Quantsapp a good online options analytics platform for option traders?

As more and more people try their hand in Options trading, the demand for good Options trading and analytics platforms is on the rise. There are many online options trading platforms out there. Know if Quantsapp is a good online Options Analytics platform.

How to use Opstra Options Strategy Builder?

Opstra Definedge is a platform that provides many tools and features to Derivative traders. Both Options as well as Future traders can make use of this platform. Some of the primary tools of Opstra are the Strategy Builder, IV (Implied Volatility) chart, Options Backtesting, Options Simulator, and many more. The Options Strategy Builder is one of the most intensively used tools on the platform.

Is Quantsapp Options Analytics platform free to use?

Quantsapp is an online Options analytics platform that provides many tools and features to option traders. It is free to use, but not completely. There are two price models that it offers at present. Both of them provide access to different features and tools. This gives an individual to choose anyone according to their preferences.

Is Opstra app safe?

Opstra Definedge is an online platform that provides various analysis tools for Derivatives traders. Opstra offers two types of subscription plans. The FREE plan is free to use and does not include all the features. The PRO plan is a paid plan that includes all the analysis tools and other features provided by the platform. You can choose a plan according to your needs.