Individual Option Contract Analysis
The Option Contract Details page provides comprehensive historical analysis for any individual option contract, helping you track price movements, implied volatility changes, and open interest trends over time.
Availability: All subscription plans (Delta and higher)
Overview
Each option contract page displays:
- 30-day historical price chart (candlestick)
- Volume overlay
- Implied Volatility (IV) trend line
- Open Interest (OI) trend line
- Current snapshot data
- Contract specifications
Access: Click any option contract symbol throughout the platform
Option Symbol Format
Option symbols follow the OSI (Options Symbology Initiative) format:
Example: AAPL240119C00150000
- AAPL: Underlying stock symbol
- 24: Year (2024)
- 01: Month (January)
- 19: Day (19th)
- C: Option type (C=Call, P=Put)
- 00150000: Strike price ($150.00)
Contract Specifications
Header Information:
- Full option symbol
- Underlying stock symbol (clickable)
- Option type (Call or Put)
- Strike price
- Expiration date
- Days to expiration (DTE)
Current Snapshot (real-time during market hours):
- Last traded price
- Current implied volatility
- Current open interest
- Last update timestamp
Historical Price Chart (30 Days)
Chart Type: Interactive candlestick chart
Timeframe: 30 days of historical data
Granularity: 30-minute intervals during market hours
Price Data (OHLC):
- Open: First price in 30-min interval
- High: Highest price in interval
- Low: Lowest price in interval
- Close: Last price in interval
Candlestick Colors:
- Green: Close > Open (bullish interval)
- Red: Close < Open (bearish interval)
Chart Features:
- Interactive zoom and pan
- Hover for exact OHLC values
- Time-based x-axis
- Price-based y-axis
- Full-screen mode
- Export as image
Volume Overlay
What It Shows: Trading volume for each 30-minute interval
Visualization:
- Bar chart below price candlesticks
- Height indicates volume traded
- Color coded (semi-transparent gold/warning color)
Purpose:
- Identify high-activity periods
- Confirm price moves with volume
- Spot unusual trading patterns
- Track liquidity over time
Y-Axis: Right side, separate scale from price
Implied Volatility (IV) Trend
What It Shows: Option’s implied volatility over 30 days
Data Source: Derived from real-time market data
Visualization:
- Dashed line overlay
- Separate y-axis (right side)
- Percentage format (e.g., 45.2%)
- Color: Flow blue
Purpose:
- IV Expansion: Rising IV = option getting more expensive
- IV Contraction: Falling IV = option getting cheaper
- Volatility Events: Spikes indicate expected catalysts
- Entry Timing: Buy low IV, sell high IV (for premium sellers)
Use Cases:
- Before Earnings: IV typically rises
- After Earnings: IV typically crashes (IV crush)
- News Events: Spikes around major announcements
- Trend Analysis: Identify IV compression/expansion patterns
Note: IV data is forward-filled, meaning if no trades occur on a day, the last known IV value is used.
Open Interest (OI) Trend
What It Shows: Total outstanding contracts over 30 days
Data Source: Derived from market trading activity
Visualization:
- Dotted line overlay
- Separate y-axis (right side)
- Contract count format (e.g., 15,234)
- Color: Info blue
Purpose:
- Rising OI: New positions being opened (interest increasing)
- Falling OI: Positions being closed (interest decreasing)
- High OI: Liquid contract, tight spreads
- Low OI: Illiquid, wide spreads, harder to exit
Interpretation:
- OI + Price Up: Bullish (new buyers)
- OI + Price Down: Bearish (new sellers)
- OI Down + Price Up: Short covering
- OI Down + Price Down: Long liquidation
Note: OI data is also forward-filled for days with no trades.
Multi-Axis Chart Design
Four Y-Axes:
- Left: Price (candlestick data)
- Right 1: Volume (bar chart)
- Right 2: Implied Volatility (dashed line)
- Right 3: Open Interest (dotted line)
Why Multiple Axes?: Each metric has a different scale and unit:
- Price: Dollars
- Volume: Contracts traded
- IV: Percentage
- OI: Total contracts outstanding
Reading the Chart:
- Focus on one metric at a time, or
- Compare relationships between metrics
- Hover over any point for exact values across all metrics
Data Collection & Quality
Data Sources:
- Price: Professional-grade historical data
- Volume: Aggregated from multiple exchanges
- IV: Calculated from actual market trades
- OI: Derived from real-time trade flow
Data Accuracy:
- Real-time updates during market hours
- Historical data validated and cleaned
- Forward-fill methodology for missing data
- Last trade time stamped
Missing Data:
- If an option has no trades on certain days, IV/OI data is forward-filled from the last known value
- If no historical data exists at all, you’ll be redirected to overview page
- Illiquid options may have sparse data
Use Cases
Option Entry Timing
- Low IV + Rising OI: Building positions before event
- High IV + Falling OI: Post-event liquidation
- Price consolidation + Rising Volume: Preparing for breakout
Exit Strategy Planning
- IV Spike + Price Move: Consider taking profits before IV crush
- OI Decline: Liquidity leaving, may be harder to exit
- Volume Surge: Opportunity to exit at better prices
Risk Assessment
- High IV + Low Volume: Risky, wide spreads
- Falling OI Pre-Expiration: Contracting liquidity
- Price Divergence from Stock: Delta exposure check
Pattern Recognition
- IV Cycles: Recurring patterns around earnings
- OI Buildup: Identifying key strikes for expiration
- Volume Anomalies: Unusual activity detection
Navigating to Contract Details
From Stock Details Page:
- View the option chain
- Click any strike/expiration cell
- Redirected to contract details page
From Options Flow Scanner:
- Find a trade in the flow
- Click the option symbol
- View contract history
From Unusual Activity:
- See an interesting alert
- Click the option symbol
- Analyze historical context
Direct URL:
Navigate to /options/[OPTION_SYMBOL] with proper OSI-formatted symbol
Integration with Other Features
Back to Stock: Click the underlying stock symbol to return to stock details page
AI Analysis (Theta/Vega):
- Ask AI about unusual IV patterns
- Get explanations of OI trends
- Understand price movements
Options Flow:
- See all recent trades for this contract
- Identify institutional activity
- Track unusual orders
API Access (Vega): Programmatically retrieve contract historical data via API
Technical Notes
Performance Optimization:
- 30-day data window keeps charts responsive
- Real-time updates via efficient caching
- Lazy loading of historical data
Visualization: Built with advanced charting technology for smooth, interactive exploration
Update Frequency:
- During Market Hours: Real-time as trades occur
- End of Day: Final settlement and IV/OI update
- Weekends: Last market day data displayed
Limitations & Considerations
Data Availability:
- Not all options have 30 days of history
- Very illiquid options may have sparse data
- Forward-fill may mask actual data gaps
IV Calculation:
- Derived from trades, not theoretical models
- May differ slightly from broker IV values
- More accurate for liquid options
OI Reporting:
- Based on trade data extraction
- Updates throughout the day as new trades occur
- Official OI reported at end of day
Volume Accuracy:
- Includes all exchanges
- May include spread and multi-leg components
- Best for relative comparison, not absolute counts
Best Practices
Before Trading:
- Check IV rank vs. stock (is it elevated?)
- Verify sufficient OI for liquidity
- Look for volume confirmation
- Identify recent IV trends
Position Management:
- Monitor IV changes daily
- Watch for OI movement to different strikes
- Track volume for exit opportunities
- Set alerts for IV spikes/drops
Research:
- Compare similar-dated options
- Analyze IV behavior around past events
- Study OI patterns at expiration
- Correlate with underlying stock moves
Availability: Option contract detail pages are available with Delta plan and higher ($9/month+).
Disclaimer: Historical option contract data is provided for informational and educational purposes only. Implied volatility and open interest are derived from trade data and may differ from official sources. Options trading involves substantial risk and is not suitable for all investors. Past performance does not guarantee future results. This is not financial advice.
