Hi Bruce 

I think you didn't see this question I posted over the weekend.

Bruce is it possible in the new version to scan for options contracts using

- Open Interest and 

- Today's volume 

Thanks

Yes, you can scan options based on open interest and volume.

Hi Bruce,

Thanks for the response, in order to do that would I need to use a PCF because I try by looking at the scaning options available and I did not see any of this metrics.

All I saw was Black Sholes, Delta, Gamma, Imlied vol., Rho, Theta and vega

If I need a PCF could you help me with that?

Thanks

You just have to choose them when selecting Add Condition. They aren't going to show up in the Options section, but you can add them from the other sections (or type them out) and the conditions will still work.

Thanks Bruce

I am sorry but I am a bit confused. I mean option volume (in contracts traded) How can I call that how can I find that? I did not see that comming when I type Option volume. I am trying to compare option volume with open interest in the scanning conditiion. How can I do that?

Thanks

If you are scanning options, the volume will be options volume and not stock volume.

You can verify this yourself by adding the condition or condition set as a WatchList Column in the Option Chain window. For exampe, create a condition for Volume which is higher than the option volume for some of the items in the list but not others. You will only get check marks for the items which match.

You can't include the values in formulas, but you can overlay both indicators into the same pane and scale in a chart which has been set to Plot the Option. Then click on one of the indicators and select Create Condition.

Hi Bruce,

With regards to options, a lot of times when you look at the price action for an option there is not always activity everyday on every option within the chain. 

I want to add a few columns to the chain that would tell me:

(1) how many bars ago was the first trading activity in that particular option.

(2) how many of the bars from (#1) actually had trading activity (sometimes the price action looks flat, like there was no trading activity in that session).

(3) the number of recent bars that had trading activity (i’m not sure if I worded that correctly).

Thanks in advance

I don't think there is a way to do #1, which by definition would mean there isn't a way to do #2. About the closest thing I can think of would be to have the following Custom PCF Cumulative indicators on a chart set to Plot the Option.

You could then use click on the Custom PCF Cumulative Indicator and select Copy to WatchList or Report to use these as WatchList Columns in the Option Chain window.

For #3 you could do something like the following as a WatchList Column in your Option Chain window.

CountTrue(V > 0, 5)

But keep in mind that the WatchList Column will not be able to return a count for the above formula unless there are at least five bars of data available (although you can change that 5 to another number).