Option trading is a financial strategy that offers investors the opportunity to trade contracts known as options. Options are derivative securities that derive their value from an underlying asset, such as stocks, bonds, commodities, or currencies. These contracts provide the buyer with the right, but not the obligation, to buy (call option) or sell (put option) the underlying asset at a predetermined price, known as the strike price, within a specified period.
Option trading provides traders with flexibility and potential for profit in various market conditions. Traders can use options to speculate on the direction of the underlying asset’s price movement, hedge existing positions, generate income, or employ complex trading strategies. There are several websites that provide comprehensive option analysis tools and resources to assist traders in making informed decisions. While the best website for option analysis can vary depending on individual preferences and needs, below are a few popular choices.
Sensibull
Sensibull is famous for its beginner friendly option trading tools. Like, their virtual trade feature which lets you trade in the real markets with virtual money. Also, there is a comprehensive easy to use option analysis system on this website which provides you with the most likeable possibilties for an option in the near future. You can even get back the brokerage amount you pay on this app by trading regularly for 30 days and maintaining a profit streak for the following 30 days. Sensibull also has a strategy wizard tool which will aid you in trading options in the stock market. This is definitely one of the most comprehensive option analyses website that you can use in 2023.
Opstra
It is famous for its option simulator feature. You can get an extensive data of the option chain with this feature which will ultimately help you develop a robust option strategy. Opstra also has option activity tool which will provide with you data like timeframe of the highest open interest rate and more. There is FII chart as well to compare the price chart and position data. Opstra has no shortage of interesting and useful features and that is why it is one of the best option analysis website in 2023.
MyFnO
MyFnO is an advanced future and option scanner platform. There are tonnes of filters which you can apply on the choice of your F&O stock to formulate your future and option strategy. You can even apply the timeframe on this scanner and set the parameters of your choice. The data is presented in a fantastic and swift manner making it one of the best softwares to use for analysing options.
Also read: 20 Best Stock Market Books for the Trading Enthusiasts
ICharts
If you are avid data based intra day trader then this website will definitely suit you. Moreover, you will get access to the historical data of past four years which you can rigorously backtest to come up with your own option strategy. There is also time wise future and option OI data on this website which you can even download in an Excel sheet to have access at all times. This option analysis website provides you with endless possibilties to formulate a unique trading strategy.
Quantsapp
This might be the most advanced software for future and option trading analysis in India. You can find almost all of the features that we have talked about so far in this blog. In addition there are several other advanced analysis tools that will get any trader excited. From Q Indicators to Stock Seasonlity tool, there is a lot to make use of in the Quantsapp. This option analysis website is probably the best tool for the seasoned option traders.