Best App For Option Chain Analysis

Are you looking for the best app for option chain analysis? Then what features you must look for? 

And moreover which apps offer you almost all the necessary features required for an ideal option chain.

The list of stockbrokers and trading platforms offered by them are endless but are all of them suitable enough to be used for options analysis.

Of course not!

So, if you are a newbie in options then here are the features and the best app for option trading that further helps you in choosing the right stockbroker to trade.

Option Chain Analysis App 

Some of the best app for option chain analysis are:

• Zerodha Kite
• Angel Broking Trading App
• NSE Option Chain
• 5Paisa App
• IIFL App

But wait, before jumping directly to the app let’s first learn some of the features of the option chains that one must look for in the trading app. Let us quickly have a look.

• Last Trade Date- Now if you are looking to do option trading, then it is very important for you to know the time and date of when the security was traded. Therefore, this is an important feature of a good option chain.
• Last Traded Price (LTP)- Whenever we start trading, we always look at the historical data to have an idea of the upcoming trade sessions. So, the last traded price is an important aspect when it comes to the option chain as well. 
• Strike Price- It is the price at which the buyer and the seller have agreed to execute the options contract. This is the most important aspect of an option chain. 
• Bid price- It is the price that an investor is willing to pay for that particular option contract. This also helps in determining the value of an option contract.
• Ask Price- It is the price at which a seller asks for the options contract. In short, it is the highest price that the seller is demanding from the buyer. 
• Change in the Last Traded Price- The change in the last traded price also plays an important role when it comes to trading options. It is the difference between the last traded price or the closing price and the price prior to that. If the percentage change is positive, it means that the last trade price is higher than the one prior to that.
• Open Interest- The number of outstanding contracts in the market-determined is called open interest in options. With the right open interest analysis, you can determine the buying or selling interest in a particular option contract.  
• Volume- The amount of trades that have happened over a particular period is known as the volume. If the volume is high on any particular contract or day, it signifies that the liquidity is high in the market. 

Note- Open interest vs volume in options are two different concepts and should not be mixed.

Now that we have an idea about the features which are or which should ideally be present in the option chain, let us have a look at the best app or say trading terminals for the option chain analysis provided by some of the renowned stockbrokers. 

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Zerodha Kite

When it comes to the best app for option chain analysis, there is hardly any trading app that beats the Zerodha software.

Zerodha being the oldest and best discount brokers in India allows you option trading in Zerodha, by activating the derivatives segment. 

To give a piece of better information, Zerodha has integrated with a third-party app to its clients.

It does not have an inbuilt option chain, but rather redirects you to a third-party app, for a better experience. 

This third-party app is named Sensibull and has various features which make it an absolute favorite of the traders. 

Are you also excited about Sensibull? Let us quickly discuss the features and the advantages of Sensibull. 

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Sensibull Zerodha

Sensibull is a third-party platform that is solely made for options trading. You can easily activate it using the Zerodha Kite App and start working with it. 

Sensibull gives you the feature of virtual trading, where you can learn and then execute your options trading. 

Also, you have an advanced option chain where you can apply various filters, you can choose the number of strike prices that you want to analyze. 

Not just the open interest, volume, bid price and ask price, but you also get an option to analyze the option chain based on gamma, vega, theta, and delta.

It also gives you an open interest chart as well. Along with this, you also get an IV chart that helps you analyze the market’s volatility. 

It gives better access to options trading. 

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Angel Speed Pro

Angel Broking is one of the most famous stock broking houses in the nation.

It gives you the facility to trade in options as well by providing the best app for option chain analysis that eventually helps traders to make a trade decision. 

Before reading about the option chain, it is very important that you know how to activate option trading in Angel Broking. Once you have activated this segment, you can easily figure out how to do option trading in Angel Broking. 

As we discussed the features of the option chain earlier, let us have a quick look at the features which are provided in the Angel Broking option chain and if it is beneficial for the traders. 

When you open the Angel Broking app, you can easily go to the dashboard and in the search bar, look for the scrip that you want to do options trading. 

After that, you can easily open the option chain by scrolling down the window. 

• Clearly, on the tab, you can see the call option on the left side, and the put option on the right side. 
• The strike price is placed right in the center and gives you a complete idea. 
• It also has a section of Open Interest and also ‘change in open interest. You can easily determine the interest in buying and selling by looking at this. 
• Volume and the last traded price (LTP) are also properly represented in this option chain. 

Apart from all the features, the Angel Broking option chain is also integrated with a third-party app like Zerodha. Sensibull helps you to set advanced filters in your option chain and make the best use of them. 

All these features make the Angel Broking App worthy of doing options trading. 

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NSE Option Chain 

Apart from the stockbrokers, you can also use the NSE website for analyzing the option chain. You can use it to view the open interest, the change in open interest in options, volume, and much more. 

Let us look at what all features do the NSE option chain provides you. 

• To access the NSE option chain click here.

• There is a search bar on the top where you can easily search for the company and analyze it. 
• The option chain has the strike price in the center and on the left are the call options and on the right, there are put options. 
• The IV, open interest, change in open interest, and volume are also displayed clearly and in real-time. 
• Apart from this, there is also the ask price, bid price, and the last traded price that gives you much more information on how the particular share is performing in the derivatives. 

It is an easily accessible and reliable place when you are looking to begin options trading. 

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5Paisa Trade Station

Moving towards another stockbroker, 5paisa also gives you the choice to trade in options as well. It has a web terminal and also a mobile app, which gives you great accessibility to the option chain. 

You can easily log in using your credentials and start your options trading. 

• You can easily search the scrip on the search bar. When you click on the particular scrip, you will see the data on the right-hand side of the option chain. 
• The option chain of 5paisa gives you the general details. So on the left-hand side, there is the call option and on the right-hand side, there is a put option. 
• You can also see the strike price in the center, and OI listed on both sides. It also shows you the LTP(last traded price)

If you are looking for some additional or advanced features, then you can also login to Sensibull using 5paisa.

This gives an even better experience to its customers thus making it the best app for option chain analysis. 

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IIFL Trader Terminal

IIFL is a leading name in the industry and is well known for its upgradation with the technology and also some great and smoothly functioning trading platforms. 

So when it comes to the best app for option chain analysis, the IIFL app is the one you must consider.

To read the option chain using the IIFL app search for the scrip and click on it. You will be able to see an option of the ‘option chain’. 

The option chain gives you an insight into the open interest, LTP, and the strike price. But if you want to explore the advanced form of the option chain, you can use Sensibull with the IIFL app. 

It gives you an option to choose your own filters and also gives you access to option greeks. So, if you are someone who wants to explore all the advanced forms of the option chain, it is the best option for you.                                          

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Conclusion 

Option chain helps you in analyzing a lot of things like the open interest, change in open interest, helps you to calculate the open interest in options, volume, IV, and much more. 

An option chain is effective if it is helping you to gain the profits that you are looking for.

Thus, it becomes important for the trader to choose the best app for option chain analysis.

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Want to trade in options, open a free demat account online with the top stockbroker!

 

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