OptionM8 new version
We released a new version of OptionM8.
The pricing OptionM8 is as follows:
In this version, we made it possible to display value-based OI. We also made it possible to display VWAP (volume load moving average) on option price chart(daily, 60 minutes, 5 minutes and 1 minute). These functions are unique to OptionM8.
Based on the value-based OI, you can estimate whether a certain strike is Net Long or Net Short, and how much their positions are.
Also, by looking at the VWAP of the daily options chart, you can see how much profits/loss are on the long side or short side.
If a net-short strike enters ITM, those sellers would be in red and they are likely to buy back those options. In other words, the probability of option price rise increases.
 |
| Tap Open Interest from the lower screen menu Select Ticker and Expiry from the top right menu → Open Interest charts are displayed |
 |
| The Value-based OI is in the 3rd row. Calls are green and Puts are red. You can see 221.5 Call and 222 Call are net short |
 |
| Select Daily Chart from the bottom menu Then select Ticker, Expiry, Call/Put, and Strike Price from the top-right menu → The Daily charts are displayed |
 |
| The second row is the Call's daily chart The red line is Bid-based VWAP and the red line is Ask-based VWAP As you can see, Calls are way above the VWAP and shorts are in loss, therefore you could expect those calls are "buy" in the intraday dip. |
Conversely if the net long Strike is in OTM and those longs are in red, they have a high probability of "sell the blip" somewhere near VWAP. If it is Call, that strike price would be a strong resistance of stock price, and if it is Put, that strike price would work as strong support of stock price.
 |
| Select OI from the bottom menu then select Ticker and Expiry from the upper menu of the screen to display OI charts |
 |
| The 3rd row is the value-based OI chart. You can see that 219 Put is significantly long. |
 |
| Let's see how the 210 Put is working... |
 |
| As you can see, that 219 Put is below VWAP and longs are in loss. If SPY drops to 219 level, you could expect strong "buy" opportunity. |
The pricing OptionM8 is as follows:
- Guest users can display OI charts, daily charts, and intraday charts for SPY only one expiration and one strike. Guest users would see advertisements.
- Guest users can upgrade to Free tier by logging in though Twitter. Free tier users can display OI charts, daily charts, and intraday charts for SPY, QQQ, and IWM with next two expirations and three strikes. Advertisements would be displayed.
- Free tier users can upgrade to Basic tier by subscription. The price is $49.99/month. Basic users can display those charts with more expirations and strikes.
