OptionAction (OAWeb) is a web based Option Analysis tool which lets you to build and analyze option strategies for Indian Stock Markets. It provides most of the analytics required for a option trader to practice and implement their option strategies. Recent launch of web based interface is modern, responsive and full-fills most of the option traders criteria. The Best part of the OAWeb is Good user interface ability to create trading strategies via Mobile/Tablet with great user experience as it is designed to utilize the app in a user friendly way. Latest Email Announcement says the product is still in beta stage.
OAweb comes with features like Simple Market Internals Dashbaord, Option Chain, Option Greeks, Option Strategy Builder, Option Greeks Calculator, Option Pain, Put-Call Ratio (OI & Volume), Open Interest look up, Volume Lookup,IV Lookup, EOD Charts with Interactive technical indicators and referral features. It brings endless possibilities compared to Option Action desktop version
If you are already a optionaction desktop user then you can use the same credentials to login to OAweb. However new users have to do a fresh registration either on the web/desktop and the same credentials can be used elsewhere.
Along with usual Option chain data OAweb provides Interpreting Options Price and Open Interest Relationship with color coding stuff which makes the option trader understand the dynamics of options marketplace.
EOD Charts comes with Lots of Classical and advanced technical indicators. Overall it is a one single place to pursue and test your option trading skills.
Options – Strategy Builder
When comes to Strategy builder OAweb provides default strategy templates or you can create your own custom strategies with unlimited legs. The best part is one can create and monitor his strategies on the go using their mobile/tablets. Provides lot of convenience for the mordern technology users. Once the strategy is built it immediately throws the strategy summary and greeks summary.
Option Pain, also known as Max Option Pain or Max Pain, is based on the theory that since most options buyers lose in options trading, it is a simple visualization tool to understand where the high probability zone of option expiry. Most of the traders monitor option pain closely when the expiry season is nearing.
OA lookup is a single pageview to understand the overall open interest, change in open interest, implied volatility, volume distribution across strike price of the underlying
OAweb is really a cool feature for the option traders to carry their trading strategy or creating the trading strategy elsewhere from the planet using any device or any modern browser. Hope more interesting features and option analytics will be explored in the upcoming versions.