Introducing the all new option chain on Kite app
When trading options, one of the most important tools you can use is the option chain. It provides a complete view of all available option contracts for a stock or an index, showing key details like strike prices, premiums, open interest, option greeks, and more.
The option chain helps traders determine market sentiment, identify trading opportunities, and make more informed decisions about their positions.
We had already redesigned the option chain on Kite Web to make your trading experience smoother. We have now added the new option chain to Kite app as well. With the new option chain, you can now view all options contracts for the underlying asset, check prices and option greeks, place orders, and more, all in one place.
Getting started with the option chain
To open the option chain on the Kite app, tap on the instrument and then select Option chain.
Once inside, you will see all the contracts for the currently selected expiry date. To analyse different expiries, simply select another date by tapping the expiry selector. You can check the option chain for all available expiry dates by swiping from right to left.
The option chain also displays the remaining number of days until expiry. This helps traders compare near and far contracts to get a better understanding of market expectations.
Navigating strikes and market data
You can scroll up or down to view all the strikes of the contract on the option chain. Tapping on the highlighted at-the-money (ATM) strike price resets to default, showing the strike prices that are nearest to the spot price. The red and green bars show call and put open interest (OI) respectively.
Strikes can also be sorted in ascending and descending order by tapping the sort option.
Quick trading and order management
Trading options has become easier with the new design. When you tap on any strike price, you will see quick options to place buy or sell orders, allowing you to act quickly when you spot a trading opportunity.
Additional features available for each strike include:
- Adding the particular contract to your watchlist by tapping Add to watchlist
- Setting price alerts
- Viewing the chart for a specific strike
- Placing good-till-triggered (GTT) orders
Position tracking and management
If you have taken a position in any option strike, you will see a P icon alongside that strike. You can track the profit and loss (P&L) for that particular strike in the market depth window by tapping to open it. To add more quantity or exit the position, tap Add or Exit respectively.
Key market indicators
At the bottom of the option chain, you will find essential market indicators, including, Put call ratio (PCR), Max Pain, At-the-money implied volatility (ATM IV), and IV Percentile.
Option Greeks analysis
For more detailed options risk and pricing analysis, the Greeks feature is available. Tap Greeks and slide your finger from right to left, or vice versa, to view the different metrics. These greeks include Delta, Gamma, Theta, and Vega, which help traders understand how option prices may change based on various factors.
Switching between instruments and customisation
Once you have opened the option chain for a particular instrument, such as Nifty, and want to view the option chain for Bank Nifty or another instrument, simply tap the search icon and enter the symbol.
To quickly examine the underlying chart and check the price trend, tap the chart icon.
The option chain allows you to view price changes based on absolute values or percentages. To switch between these views, tap the three dots menu and select either Absolute change or Percentage change options.
If you have questions about using the new option chain on Kite mobile, please post them below.
