Thread by @indraziths

Options Trading is a Billion Dollar Market.

90% of Retail Traders Start with a Small Capital & Prefers Options Buying.

Open Interest (OI) Analysis plays a crucial role in Options Buying & Scalping

This #thread is a Review of one OI Tool called "OI Pulse"

🧵🧵

@OiPulse
(1/N)

Disclaimer - I don't have any business association or personal relationship with any of the OI Pulse members.

I use OI Pulse personally and found some features are effective in options buying.

If you want a free OI tool, you can use this!

profiletraders.in/post/fno-trade…
(2/N)

Before trying to understand the features of an OI tool, one should know the basics of Open Interest.

You can read this article to learn the basics of OI.

profiletraders.in/post/the-power…

(3/N)

#1 Trending OI

This is my favorite feature in OI Pulse.

It not only updates sentiment & also updates the direction of change, changes in CE/PE OI, and Net PCR.

(4/N)

#2 OI Spurt

This is a smart feature, and using this one can easily get a glance at what's happening with options.

For example, market sentiment is Bearish, If you see only 'PEs in Long Build up and 'CEs in Short Build up

(5/N)

#3 Options Chain

It is a must feature for any options trader.

Along with other option greeks, this tool also provides % change in OI, and OI interpretation (like Long Buildup, Short Build up, etc)

(6/N)

#4 OI Analysis

This feature updates the total OI, OI change (for both CE & PE), OI Interpretation for both CE &PE, along with CE and PE LTP.

(7/N)

#5 OI Chart

This feature plots the Call Option OI vs Put Options OI.

In addition, it also plots Call OI vs. Price and Put OI vs. Price.

This is a beneficial feature if you know the price vs. OI relationship.

(7/N)

#6 OI Statistics

This feature provides OI (call & put) info in different strike prices.

In one glance, anybody can say whether Call writing is high or Put writing is high😂

(8/N)

#7 Vix vs. Index

Vix plays a crucial role to predict the direction.

If the price moves up with a decrease in vix, it is a good sign for bulls.

If the price falls with an increase in vix, it is a good sign for bears.

(9/N)

#8 Multiframe Chart

Multiple charts in one window is a paid feature in tradingview.

Using this tool, we can track both Nifty and Banknifty in one window.

(10/N)

Success in trading is not guaranteed just after buying a software tool.

We need to analyze the data properly & trade only on our setups along with proper money management rules to survive in the market.

You can reach out to @Justsiva123 if you have any doubts about this tool.

That's all for today!

If you enjoyed this thread:

1. Follow me
@indraziths

for more threads on the stock market trading

2. RT the tweet below to share this thread with your audience