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Multi-Strike Volume and Positioning Analysis: Mapping Active Zones Across Strikes
This tool lets you compare activity across multiple strikes simultaneously, making it easy to spot where the heaviest flow and positioning are concentrated. The primary view for intraday analysis is Volume mode, which shows where traders are actively committing capital at each strike during the current session. PCR Volume mode compares put volume to call volume across strikes, revealing the balance of bullish and bearish flow. PE CE Difference shows the net imbalance between put and call activity. OI Overall and OI Change views are available as structural references since OI updates at end of day.
For intraday trading, start with Volume mode to identify where today's activity is clustering. Strikes with the highest volume are where the market is actively expressing a view. Then use PCR Volume to understand the direction of that flow: strikes where call volume far exceeds put volume show bullish conviction, while strikes where put volume dominates show bearish positioning or hedging pressure. The combination of volume concentration and PCR volume direction gives you a precise read on where and how the market is positioned intraday.
The OI Overall and OI Change views serve as structural context. High-OI strikes from the previous close often act as support or resistance because of the hedging flows associated with those positions. But since OI updates only at EOD, these levels should be treated as reference points rather than intraday timing signals. Use OI to know where to watch, then use volume and PCR volume to confirm whether those levels are being tested with real flow during the session.
Volume Concentration Zones
Identify which strikes are seeing the most active trading in the current session. Volume concentration zones reveal where conviction is forming right now, unlike OI which reflects yesterday's positioning.
PCR Volume Direction
Measure the balance between put and call volume at each strike. A PCR volume above 1 means puts dominate, below 1 means calls dominate. This directional read combined with volume concentration tells you not just where flow is active but which way it is leaning.
Custom Strike Selection
Select exactly which strikes to analyze. Focus on the strikes most relevant to your trading thesis, whether ATM options, OTM wings, or specific levels where you expect the underlying to interact with active flow.
Frequently Asked Questions
Why use volume instead of OI for intraday strike analysis?
OI updates only at end of day, so it cannot tell you which strikes are active right now. Volume updates during the session and shows where actual trading is occurring. For intraday decisions, volume is the real-time metric. Use OI as a structural reference to identify important levels, then watch volume to see if those levels are being tested.
What does PE CE Difference show?
PE CE Difference shows the net imbalance between put and call activity at each strike. Positive values mean put activity exceeds call activity, negative means calls dominate. It quickly highlights strikes with the strongest directional bias in current flow.
Can I still use OI views for intraday trading?
Yes, as reference levels. High-OI strikes from the prior close often act as support or resistance due to hedging flows. Use OI to map out where these structural levels sit, then switch to Volume or PCR Volume mode during the session to see whether those levels hold or break with real flow behind them.
The information provided on this page is for educational and informational purposes only and does not constitute financial, investment, or trading advice. Options trading involves substantial risk and is not suitable for all investors. Past performance is not indicative of future results. Always consult a qualified financial advisor before making investment decisions.