Opstra Definedge is an online Options Strategy Building and testing platform that allows the users to build their own custom Option strategies and test them in the real markets. Opstra provides all the tools that are required by traders and investors to make their own Option Strategies.
Some tools that are provided by Opstra-
3.Open Interest Analysis
5.Historic Results Timing
6.FII & DII actions
Options Algorithm enables users to find out Option trading opportunities on their desired asset based on real-time data. The options algorithm provides various parameters and signals based on which a Buying or selling signal is provided based on which one can trade the underlying asset.
Option dashboard provides all the information about Option data like Price change, Straddle Premium%, Total IV (Implied Volatility), IV change for Stocks and Indexes.
All these data are useful for options traders as these provide basic information about how the overall market sentiments are. The overall data can be seen as shown in the image below:
The Open Interest section provides the Important data points of OI(Open Interest) and the Max Pain. Max pain is the Strike Price where the highest amount of Open Interest is placed. Opstra provides all the calculated data of the real Time change and Change% of “OI” and “Max Pain”. This also provides the real-time PCR (Put-Call ratio) of the Index as well as of Individual stocks. The Open Interest chart can be viewed as shown in this Image-
The results calendar comes in handy for Traders who make trades based on the Results of any Stock option. Results can cause the Price of the Stock to be very Volatile which benefits the Option traders as they deploy option strategies that can benefit from the increase in IV (Implies Volatility). The Historic Results Timing gives the exact time of the previous Earnings release time from which a Trader can anticipate the exact time on which the results might be declared.
Opstra also gives important data about the FIIs (Foreign Institutional Investors) and DIIs (Domestic Institutional Investors). These two data alone tells a lot about the current market sentiments. If one of these Parties is on the Buy or Sell-side largely then the whole market moves in that direction to some extent. Opstra provides this data in a very detailed and convenient way. It gives access to the users the FII & DII’s data separately in the Cash Market as well as the Derivatives market. One can check the data on a daily basis or Yearly basis. A sample of the interface of this feature is shown below-
As seen above the FII & DII's Buying and selling action can be clearly seen by the Green and Red bars. The Green Bar denotes Buying by the FII & DII and Red Bars denotes Selling by them. The individual figures in Crores are also available for more detailed analysis.
These were some of the main highlights of the Software but Opstra has many more amazing features apart for these.
Opstra provides many tools for other Derivative segments as well such as Futures.
In Futures, there are a lot of Features such as Futures Open Interest where the current Open Interest for a particular Index or Stock Future is displayed along with the Price Change% and OI change percentage.
There is a Futures Buildup Screener that Shows the Short term Outlook of individual securities. Whether a Stock is Witnessing Long Buildup or Short Buildup according to the Open Interest (OI), it is shown accordingly.
Another cool feature of Opstra is the Feature of Heatmap-
Heatmap is the technique of Representing the overall activity within the Security in a Particular color. The color Green in a Heatmap denotes Buying in that particular counter. There are different shades of color to denote the Action. A darker color denotes extreme Action and a lighter Color denotes slight action in the counter. A description of the heatmap is shown here-
These were some of the features In the Futures section but as the name suggests "Opstra Options Strategy Building" the main highlights of the Software is Options.
There are a lot of Tools and Screeners that can be used to become better at anticipating the Market Sentiments and Direction. Opstra provides all the necessary data points as well as Screeners that are useful for Technical Analysis in the Derivatives space.
In the Options section, there are some more useful tools like the:
These features are a Great tool for Advance Option traders who use Multi-leg Option strategies. The Option Backtesting and Options Algorithm can be a useful tool for professional and advanced traders.
By looking at all those Features it can be said that Opstra is a go-to solution for a trader irrespective of their Experience. An amateur trader, as well as a professional trader, can make use of the Software as per their requirements. Beginners can test their own Option strategies in the Options Strategy Builder that allows anyone to test any strategy in Any Index or Stock.
On the other hand, Professional and seasoned traders can use advanced features such as the Options Algorithm and Options Simulator to automate their process of Trading to some extent.
The UI (User Interface) of the software is very easy to use and convenient for everyone. The only problem is that the Pricing, It costs around 1000 bucks per month to access all the features that might be on the costly side for amateurs who don’t need all the advanced features in the software. Apart from the tools and screeners provided,
Opstra also provides Educational tools like Blogs, Webinars, and “How to Use” Tutorial videos that can benefit beginners who are new to Options trading or want to test new strategies. They can do so using the Paper Trading and Portfolio building tool in the Software.
To conclude, Opstra Define Edge is an excellent online platform that caters to all types of traders and investors. One can access various data points and other tools such as Paper Portfolio and Options Simulator etc. The option trading software is very easy to use and there are plenty of tutorial videos that teach you properly how to use the features present in the terminal.
Some features in this Software are Free but some of the Important features like Options Backtesting & Options algorithms are included in the Paid version which costs 1000 per month, which is slightly on the higher side. Small traders might find it difficult to invest 12,000 for 1 year to get access to all the features in the platform.
Otherwise using Opstra is definitely a very useful and Informative platform for those who use Option and Futures. What do you think? Have you tried the Option Trading Software? Feel free to share your views or feedback on Opstra or any other trading software.