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Options chain overview

The options chain (a.k.a. options board) is the feature that lists all available option contracts for an underlying asset. With it, you can see contract prices and key stats, including strike and expiration. It's the main entry point when you want to research or execute options trades for a particular underlying asset.


CONTENTS:

What is options chain

An Options chain is a listing of all available option contracts for a particular underlying asset, such as a stock, index, ETF or futures. 

It shows key data for each option contract: 

  • Strike price
  • Expiration date
  • Premiums (theoretical as well as market best bid and ask quotes)
  • Greeks (Delta, Gamma, Vega, Theta and Rho – theoretical sensitivity coefficients
  • Implied volatility

Traders use the options chain to find contracts, analyze and compare them and choose strategies based on market expectations.

How to access options chain

From any page of TradingView, hover on the "Products" dropdown and choose "Options."

Another way to access it is from the right toolbar. For instance, you can simultaneously analyze stocks and their options.

You can also split your screen for enhanced visibility and adjust the proportions for each window.

And one more place to access the chain is from symbol pages. For example, if you're browsing a TSLA symbol and want to watch Tesla options, navigate to the "Options" tab and scroll down.

Options chain views

This tool can display you information about options using two different views:

  • The default view (aka By strike) is a classic options chain table with strike column in the center, calls columns left to the strike and puts columns right to the strike. 
  • The alternative view (aka By expiration) is a transposed view, where in the central column we put expiration dates instead of strikes. At the same time strikes replaces expiration dates in the selector above the table.

Default view

Expiration selector

At the top of the table, there is an expiration selector. It  provides a visual overview of the expiration structure and helps you navigate across different expiration dates with just a click.

When you select a date, the table below displays the options data for that expiration.

Table

The table is the heart of the chain. It consists of three base elements:

  • Strike: Located in the center. Each row corresponds to a single strike price
  • Calls: Located on the left. Contains key data on call options
  • Puts: Located on the right. Contains key data on put options
Put and call options rows

On both sides of strike prices, you can see 13 columns for each option:

Row details pane

You can view the option details that don't fit in the table columns in the additional pane.

You can also see duplicated column data there, along with more detailed information and several action buttons.

If you click on the left or right to the "Strike" column.

Alternative view

Sometimes you may want to have a different outlook on the market. If you're sure about the price level of an underlying asset, but not sure about timing, you may be interested in selecting the right expiration, not the strike.

To switch to the alternative view, click the "By strike" button in the top-right. This allows you to get a view from another angle.

Here, the central column contains expiration dates, not strikes, which moved to the top selector.

If needed, you can always switch back by clicking the "By expiration" button on any expiration date in the central column.

Options chain settings

On the top-right of the table, you can find the gear button. From there, you can change:

  • The number of rows displayed: Choose between 10, 20, or all rows
  • Strike sorting method: Ascending or descending
  • Column data: Choose from the 13 mentioned parameters

Also read:

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Rho option greek