Viewing Options Data on the SharpCharts Workbench
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So, you’re viewing your ChartLists regularly, and you get an alert notification. Before taking action, you must analyze the chart to identify an ideal entry point.
In the New SharpCharts Workbench, you can view the option chain of a stock or ETF that has options available. Click Options under Tools & Resources in the menu on the left.
The option chain will reveal which strike prices options activity is more active and whether there’s more call or put activity. This can be helpful, especially before earnings, because it gives you an idea of what price moves traders anticipate.
To view the option chain, click Options, and if the stock or ETF of the chart you’re analyzing has options available, the option chain will display below the chart. The option chain below shows strikes between 67 and 85 for options expiring on February 9, 2024.
The Show All Columns is checked, but unchecking the box will show fewer columns. You can view option greeks, volatility, volume, open interest, and price data.
Members who have purchased a subscription to the OptionsPlay Add-on can also access the OptionsPlay Explorer tool to research the best options strategies for a particular stock, customize the strategy to fit their time horizon and risk profile, then copy detailed trade plans to their brokerage account.
To access the OptionsPlay Explorer from the SharpCharts Workbench, load the options chain for the ticker symbol you want to assess, then open the Options panel beneath the chart and click on the OptionsPlay button at the top of the panel.
Note: Members who have not subscribed to the OptionsPlay Add-On can still see the OptionsPlay Explorer, but will only be able to analyze AAPL, not any other ticker symbol.
Learn More: OptionsPlay Add-On | OptionsPlay Explorer
