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Main Menu > Analysis > Option Analysis > Option Scans
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Last updated: 09/01/2024, 9:15AM

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Option Scans

Watch here, How to use Option Scans?

What is Option Scans screener?

Option scans screener is a powerful tool on the Talkoptions website that helps traders discover potentially profitable options trading opportunities by filtering based on their preferred criteria, aiding informed decision-making.

Interpretation of Option Scans

Option Scan is a valuable tool for traders to filter and find suitable options contracts based on specific criteria like IV, volume, and price. On the Talkoptions website, traders can view the top 5, 10, and 15 stocks that have gained or lost in price. They can also see stocks with increased and decreased Open Interest (OI) in the Futures & Options (F&O) market.
Traders can analyze which stocks might be at risk of being added to the Ban List. This information allows them to seize opportunities and benefit from the OI per cent limit data.
In the Option Scans section, traders can access Rollover data, High IV stocks (those with high Implied Volatility), and Low IV stocks (those with low Implied Volatility). Additionally, they can identify stocks that have witnessed large delivery quantities.
Another helpful feature is the ability to see stocks trading Above V-Wap (Volume-Weighted Average Price) and Below V-Wap. This is beneficial for traders who analyze V-Wap to make their trading decisions. Furthermore, traders can find stocks making new 52-week highs and lows, providing additional valuable insights for potential trading opportunities.

Prices (Futures)

In the Prices Up section, traders can see the stocks that have experienced the highest price increase in the Futures & Options (F&O) segment. In the Prices Down section, they can find stocks that have had the most significant price decrease in the F&O segment.

In the Prices section, traders can also access stocks close to their highest value in the past 52 weeks (near 52-week high) in the F&O segment and stocks close to their lowest value in the past 52 weeks (near 52-week low)in the F&O segment.

Open Interest (Futures)

Traders can view OI Up and OI Down Futures stocks and along with that they can view Roll Overs and OI Limit
OI Up : When traders see "OI Up," it means that the Open Interest (the total number of outstanding contracts) in a particular futures stock has increased. This indicates that more people are entering new trades, suggesting positive market sentiment and potential price increases.

OI Down : "OI Down" means that the Open Interest in a futures stock has decreased. This suggests that fewer people are participating in the market, and some may be closing their existing trades. It indicates a lack of confidence and the potential for prices to decline.

Roll Overs : Roll Overs refer to the process where traders switch their positions from one futures contract to another with a later expiration date. This is often done before the current contract expires to avoid physical delivery and continue their exposure to the asset.

OI Limit : OI Limit indicates a predefined maximum level of Open Interest set by exchanges or regulatory authorities. When the Open Interest reaches this limit, no new contracts can be created for that particular futures stock. This is done to prevent excessive speculation and maintain stability in the market.

Volume (Futures)

Volume (Futures) is the total number of contracts exchanged in future markets during a specific period. It shows how active and liquid the market is, giving insights into the level of trading activity for those contracts.
Traders can view the Active Futures and the Highest Volume Gainers for the day

Active Future : refers to the futures contracts that are currently being actively traded in the market, indicating a high level of interest and participation by traders and investors.

Volume Gainers : refers to the futures contracts that have seen the biggest increase in the number of contracts traded during a specific period. These contracts have experienced significant growth in trading activity compared to others. This feature can provide opportunities for traders to spot trending assets with increased trading activity, potentially leading to profitable trading opportunities.

Basic (Futures)

Basis (Futures) refers to the price difference between a futures contract and the spot price of an underlying asset, representing potential profit opportunities for traders through arbitrage or hedging strategies.

Basic Up : means the difference between the price of a futures contract and the current market price of the asset increases over time. Traders can benefit by buying futures contracts and selling them later at a higher price.

Basic Down : is the opposite, where the price difference between the futures contract and the market price decreases over time. Traders can take advantage of this situation by selling futures contracts and buying them back later at a lower price.

Put Call Ratio

Put Call Ratio (PCR) in the stock market represents the ratio of put options to call options traded. It helps gauge market sentiment, with high PCR suggesting bearishness and low PCR indicating bullishness.

PCR UP : means the put call ratio increases, indicating higher bearish sentiment and expectations of market decline.
PCR DOWN : means the ratio decreases, indicating more bullish sentiment and optimism for market growth.

Implied Volatility

Implied Volatility is a measure used in financial markets to estimate an asset's future price fluctuations based on options prices. High implied volatility suggests uncertainty, while low implied volatility indicates stability.

High IV (Implied Volatility) : indicates higher expected price fluctuations, making it attractive for option buyers seeking larger potential gains.
Low IV : suggests lower expected volatility, which may be favourable for option sellers seeking to collect premiums with potentially lower risk. Traders utilize IV levels to assess option pricing and trading strategies.
Traders can also able to see PCR up and PCR down data

Delivery (Equity)

Delivery in equity refers to the transfer of actual shares from a seller's Demat account to a buyer's account on the stock exchange, settling a trade beyond the intraday session.

In the equity segment, traders can view the Heavy Delivery Stocks where holding positions are more than the average delivery volumes. It means that traders are aggressively buying the stocks which indicates the potential rise in the stock in the coming days.
The Delivery Up table shows stocks where the delivery volume has increased compared to the previous day. If any stock delivery is increased, it means more traders anticipate that the stock will go up. So with this feature, traders can buy those stocks whose delivery is Up as compared to the previous day.

V-WAP (Equity)

Stocks Above V-Wap and Below V-Wap also traders can see which helps traders who trade based on V-Wap analysis.

VWAP (Volume Weighted Average Price) Above refers to a situation where the current price is above the VWAP, suggesting potential bullish sentiment.
VWAP below indicates that the current price is below the VWAP, signalling potential bearish sentiment. Traders use these levels to assess price positioning and potential trend reversals.
VWAP above suggests potential bullish sentiment and strength in the underlying asset. Traders may interpret this as a signal for potential upward momentum and consider it in their trading strategies.

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