Options OI Profile displays option open interest or day volume by strike as a profile directly on the chart of the underlying instrument. It helps identify price areas where options activity is concentrated.
You do not need to trade options to use this indicator. Add it to a chart of the underlying instrument and make sure your connected data provider supplies options data for that instrument.
Before you start
Make sure that your connected data provider supports options and provides options data for the selected underlying instrument. Data availability depends on the provider, account permissions, instrument, and market data subscription. Options data can be available through Interactive Brokers or Rithmic, depending on your setup.
How option analytics indicators work
Option analytics indicators subscribe to a range of option strikes around the current underlying price for the selected expiration series. ATAS receives live market data such as bid, ask, last price, open interest, and day volume.
Values such as implied volatility and Greeks are calculated in ATAS from the available option prices. The indicators then aggregate the data by strike, expiration, side, or time interval and display the result on the chart.
What Options OI Profile shows
The indicator displays open interest by strike as a profile on the chart. In the mirrored view, call bars are shown on one side of the axis and put bars on the other side. The longer the bar, the larger the value at that strike.
The indicator can also show day volume or the net difference between call and put open interest, depending on the selected mode.
Why it is useful
Large clusters of open interest show where significant options positions are concentrated. These areas can become important market zones because many participants have exposure around the same strikes.
A large put open interest area below the current price can highlight a zone of protection or potential support. A large call open interest area above the current price can highlight a potential resistance area.
Modes
- Open Interest shows accumulated positions.
- Day Volume shows where options are traded during the current session. This mode is especially useful for 0DTE analysis.
- Net OI (Call - Put) shows the difference between call and put open interest at each strike.
Common Data settings
| Setting | Description |
|---|---|
| Expiration | Selects which expiration series is analyzed. Auto (nearest) uses the nearest available expiration and switches to the next series after expiration. |
| Aggregate nearest series | Combines the nearest expiration series into one view when the indicator supports series aggregation. |
| Strikes per side | Defines how many strikes above and below the current price are included in the calculation. |
| Wide range (sparse) | Uses a wider strike range when several expiration series share the available quote budget. |
Settings
| Group | Setting | Description |
|---|---|---|
| Data | Expiration, Aggregate nearest series, Strikes per side, Wide range | Defines the analyzed expiration and strike range. |
| Profile | Mode | Selects Open Interest, Day Volume, or Net OI. |
| Profile | Histogram | Two-sided (mirrored) shows calls and puts from a shared axis. One-sided shows bars from the chart edge. |
| Profile | Position, Profile width, %, Value labels | Controls where the profile is placed, how much chart space it uses, and whether labels are shown. |
| Visuals | Colors, tooltip, status chip | Controls call and put colors, hover tooltip visibility, and the status chip. |
Status chip
The status chip shows the selected expiration, days to expiration, and the number of subscribed option contracts. It can also show warm-up progress or connection warnings.
Practical recommendations
- Use Open Interest to identify larger structural positioning around strikes.
- Use Day Volume for 0DTE and intraday analysis.
- Compare call and put areas around the current price instead of reading one large bar in isolation.
- Open interest can update less frequently than price or day volume, so abrupt changes are not expected on every tick.
- Increase Strikes per side for a wider picture, but reduce it if the indicator takes too long to warm up.
Frequently asked questions
Why does the indicator need time to warm up?
The indicator has to subscribe to multiple option contracts and collect enough quotes for the selected strike and expiration range.
Why do values differ from other services?
Different tools may use different data sources, expiration filters, strike ranges, open interest update timing, implied volatility methods, or index-to-futures mapping rules.
What should I check if the indicator shows no data?
Check that your connection provides options data for the selected underlying instrument, that the required market data subscription is active, and that the selected expiration range contains available option contracts.
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