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QuikStrike In The News

QuikStrike got a mention in the WSJ’s article “How Traders Are Making Money as Oil Prices Go Nowhere” [paywall] by Stephanie Yang. In the article she points out that oil traders have been focused on mean-reverting (rangebound) strategies in this low-volatility environment.

She notes: “Recently, traders have been fixated on the $45-to-$55 range, where options positions are the most concentrated, according to data provider QuikStrike.” You can see this for yourself by going to Market Reports –> OI & Volume Heat Map (or OI & Settle Detail if you want a specific expiry). Paid versions can generate PDF links like this one to send to colleagues or clients.

Happy trading.

Feature Highlight: Quickly Access Product Overviews with This Week in Options (TWiO)

For a product specific overview of recent moves in volatility, open interest, and volume all in one place, check out This Week in Options under Market Dashboard → TWiO Report.

This Week in Options

This Week in Options

The symbols for the selected expirations with their respective expiration dates and days till expiry are on the left followed by the at-the-money (ATM) strike and future price. These columns also display their changes underneath the values.

The volatility columns display the ATM volatility, the risk reversal (RR) for the selected delta value, and the QuikSkew™ for the selected delta. The open interest and volume columns display totals, put/call ratio, and the most active contracts, all with changes.

 

Strike Detail Popup: See Strike Info at a Glance

Our last blog post broke down the Strike Detail Sheet in QuikStrike. But as we mentioned in the post, there is another way to access all the information on the page. Clicking on (almost) any strike price in QuikStrike launches the Strike Detail popup:

QuikStrike Strike Detail popup

 

As you can see in the image above, the popup includes:

  • Strike Detail
    • Selected strike price is anchor strike for all trade types on the chart
    • Has the same functionality as Strike Detail Sheet minus Analysis Bar
  • Vol History
    • Volatility and Future Price of selected strike price on a specific date (going back as far as 12 months)
  • ATM Vol History
    • ATM Volatility and Future Price of ATM strike on a specific date (going back as far as 12 months)
  • Volume & OI
    • Trade Volume and Open Interest for calls and puts for selected strike price (going back as far as 12 months)
  • Vol Chart
    • Current and Settlement Vol Chart for selected expiration
  • Pricing Sheets
    • Standard Pricing Sheet and Straddle Sheet for selected expiration
  • Futures
    • Future Price vs. Time graph for the selected expiration’s underlying at a specific time
      • Some months go to underlying futures that are not the same as their expiration month
      • Trade Volume and Open Interest will be shown in the same view when selecting a history of at least 1 Week

Launch this popup from (almost) any page in QuikStrike. Don’t forget to hover over the graphs and charts in each tab of the popup to view specific information.

The Strike Detail popup allows users to access information about a particular strike price, expiration or future price without navigating from their current page. Please let us know if there is anything you would like to see us add to this popup, or any of our other popups within QuikStrike. Feel free to add a comment below, shoot us an email (info@quikstrike.net) or tweet us.

Stay Informed on OI and Volume for Most Active Strikes

Part of being a successful options trader is doing your homework. That means following the markets, understanding recent trends and being able to identify where the trade activity is taking place. One way to stay informed is to login to your QuikStrike account and check out the Open Interest page under the Summary Reports tab.

The Open Interest page displays an entire product sector in one view. On this page you’ll find:

  • strike prices
  • expirations
  • calls, puts and combined (calls and puts) with the most Open Interest, Open Interest Change and Trade Volume from the previous trading day

Make note that open interest and volume on this page are updated each morning with a preliminary and then a final run at roughly 4:30a CST and 10:30a CST, respectively.

QuikStrike makes it easy to quickly sort through the data and find your desired information. However, before diving into the numbers, see the image below to understand ways to customize the page and get a general idea of the page layout.

Open Interest

The greater the open interest, the more activity in an option contract. In the Summary section, you can quickly view the open interest for calls, puts and combined total for a given product, as well as the net change from the previous day. Strikes up represents the number of strikes with increasing open interest, while strikes down denotes the number of strikes with decreasing open interest. Monitoring these numbers each day can help support/dispute a hypothesis about where the most activity in an expiration or strike is taking place.

Directly below the Summary information are the Ranking columns for the product. Select either Open Interest, Open Interest Change or Trade Volume and use this section to see the most actives strikes given the chosen filter. We’ll use the 10 Year contracts as an example. The table below displays the Top 10 calls, puts and combined, from all active expirations, ranked according to their Open Interest Change.

Open Interest Most Actives

It’s important to note that you can click on a particular strike price or expiration to dive deeper into the data and find more specific information on each without leaving the page. You’ll also notice that you can compare open interest in the Ranking column to the previous day, as well as view the trading volume.

Follow us on Twitter at @QuikStrike1 to see these reports every morning for a wide range of products. How does the prior days open interest and trading volume influence your decision-making? Tell us with an email to info@quikstrike.net. Happy Holidays!

View Intraday Trade Volume With the Strike Level Chart

Are your trading decisions influenced by intraday trade activity? Are you always checking which strike prices are getting the most action? If you answered “yes” to either question, you may want to create a Menu Shortcut in QuikStrike for the Strike Detail Chart page under the Market Data tab.

You can start customizing your Strike Level Chart after selecting your desired product and expiration. This chart displays trade volume and open interest for both calls and puts by strike updated throughout the day. Simply hover over the blue bars for Calls and orange bars for Puts to see their respective values.

If you click the View Settings dropdown, you will be able to set the number of strikes and add filters to both the Volume and Open Interest chart. The image below displays the Has Open Interest Change filter which displays all strikes with intraday volume that have a change in open interest from the previous trading day.

Strike Detail Chart - Intraday (final)

Another filter to note is the Chart Value. This dropdown applies to the Open Interest chart. Use this chart to get a better idea the strike prices with the most/least intraday activity or to generate new ideas for positions in the selected expiration.

At the bottom of the page, you’ll find the Call and Put Summaries for intraday trading volume. The in-the-money (ITM) calls are intraday trades where the strike price was lower than the underlying price, while the ITM puts represent trades in the current session where the strike price was higher than the underlying price. Both out-of-the-money calls and puts had no intrinsic value at the time they were executed.

Strike Detail Chart - Intraday (2)

What do you think of our new intraday trade volume and open interest Strike Level Chart? Let us know your thoughts on this page, as well as all others in QuikStrike. Don’t hesitate to email us at info@quikstrike.net. We hope you have a great holiday season!