This question might pop into your mind, what is Quantsapp? In simple words, Quantsapp is an online Options analysis and learning platform. It provides other features such as Options Analytics, Options Learning, Research Services, option trading tools, and Options strategies.
Quantsapp was formed in 2019. The founder and Chief Executive Officer (CEO) of the company are Mr. Shubham Agarwall.
The goal of building this platform was to provide such tools that will help option and futures traders to get exponential growth in their trading profits. This could be achieved by increasing the risk to reward ratio and skipping bad trades.
How Quantsapp works?
In this digital era “Raw Data” is the one thing which is very easy to find, but processing and using it according to our needs is not easy. Quantsapp is one of the biggest data analytics app that processes huge quantity of data and forms simple and easy to read applications out it.
Some of the unique features of Quantsapp:
1. Open Interest Analysis
Open interest is a very useful tool when it comes to derivatives trading. The Open interest tells you about the market sentiments and the current mood of a particular stock or index. Quantsapp not only provides the Open interest but also subdivides it into further categories. This includes Sector Open Interest, Index OI, etc. The following diagram is how Quantsapp portrays the Open Interest for certain stocks.
As seen above the Open Interest is portrayed in a very easy-to-read manner combined with eye-catching colors that depict a particular action. The color “Green” shows a Long buildup, whereas “Red” Shows a Short buildup. Similarly “yellow” shows a short covering, and so on. Here all the scripts are marked with a color that depicts the action of the Open Interest.
Another great feature of this app is that it shows the data of the OI for a prolonged period of time (30-60 days) in a very simplified manner. It is shown below.
As seen in the above diagram, the Open Interest change is mentioned for a time period of more than 1 month. This is useful for positional traders and swing traders. Traders can judge the momentum of the stock by analyzing the Open Interest change happening per day. One could also filter stocks by applying the parameters (Short or Long) and the time frame in order to get a list of stocks that match all the parameters.
2. Most traded Option Contracts
The Quantsapp provides a unique feature where it states all the strike prices where the most amount of trading is happening at the current point in time. It is shown in the following method.
In the above image, mentioned is the dashboard of Quantsapp where the most traded counters, as well as the most traded Strike prices, are shown. This also provides certain important data such as PCR (Put Call Ratio) for every individual asset. It also mentions the Volume and OI Change (Open Interest) all at the same place. This makes the job of analyzing a particular stock based on various parameters very simple.
Access to all these features in one single place is not only convenient but also gives an EDGE to the trade using this platform.
3. Option Greeks
Option Greeks is another parameter that an options trader cannot forget. Option Greeks are the 4 factors that decide the price of an existing options contract. Most platforms provide the Gama and delta of Options but don’t mention all the 4 Options Greeks. Quantsapp has this feature integrated within the Option Chain which makes it even more convenient to glance a the Option Greeks of all the strike price at once to choose the best strike price for initiating the trade.
As seen in the above diagram, the Option Greeks (Gamma, Vega, Delta, and Theta) are mentioned for every option contract in the open Interest. This makes the decision process easier for an options trader.
4. Overall Options Buildup
Quantsapp has a unique feature where it shows the overall Long and Short positions in all the F&O stocks combined. This is not a feature that is found elsewhere. The following image depicts this feature-
Under this Options Buildup feature, The platform displays all 4 factors in all the F&O stocks together. They are:
These four parameters put together forms the market breadth. One can gauge this dashboard alone and tell the market breadth. In this case, the number of stocks that are on the long side is 80 compared to the number of stocks that are on the short side which is 72. This shows that the overall market sentiment is flat as both the number of Long and Short counters are almost equal.
In this way, a trader can figure out which strategies to implement based on the overall market breadth.
The Quantsapp provides many more interesting features but these were some of the most unique and useful tools for an options trader.
Some other features of Quantsapp are
- IV (Implied Volatility) Chart
- Trap Indicator
- Max Pain in Options
- PCR (Put Call Ratio)
- Open Interest
- Open Interest Triggers, etc.
Apart from Option trading tools, Quantsapp also provides tools to build options strategies and backtest them. Some of the offerings of Quantsapp are
- Optimizer Algorithm
- Options Architect
Quantsapp keeps its users up to date with all the news and activities in the markets. users get to access
- Trading Ban List of Securities
- Market participants data (FIIs & DII’s data)
All these data points help traders to make informed decisions about their positions and adjust their trades accordingly. The results or any certain news in-stock can cause huge volatility. Knowing these dates in advance will help traders to manage their exposure and risks in such counters beforehand.
The core focus of this platform is to provide Data analysis for the objective of maximum profits in Options trading. Quantsapp is one of the leading and fast-growing platforms when it comes to Options Trading.
In conclusion, Quantsapp is an excellent platform for options traders. Some of the unique features provided by the platform such as “Long term Open Interest Change”, sector-wise Open Interest change, and many more things add huge value to one's trading. These data points can be analyzed by traders to find out the exact sentiment of any stock or index. The colorful portray of the Open Interest change is another interesting take of this app that would be useful to most of the traders.