A tool every Option trader should use : @iChartsIndia 🧵

Let's decode why you should use it too and how I help myself.

I use these four features(primarily)

☑️ Option Chain
☑️ Total PE-CE Data
☑️ Option OI breakup
☑️ Strangle Charts(Combined Premium)

1/ Option Chain

Option Chain data is reliable when the trading week begins(i.e Friday). Even, Monday's data is not very accurate as traders are still building their positions.

I start giving emphasis to the build-up from Tuesday.

Looking at this week's expiry data(i.e 23rd June 2022),

We can observe

Put writing at 15300, Call writing at 16000

15500 call unwinding has been massive; which is visible by the move on Tuesday(i.e 21st June 2022)

Puts are still more pricey than calls, implying traders have been factoring a down move more than an up-move.