Option Flow stats and premium race

What it does

Total premium sums every print in the window and splits it into a call bar and a put bar underneath. Put / Call premium is put premium divided by call premium, labelled put-heavy above 1 and call-heavy below. Buy / Sell flow adds premium by aggressor side, and when some premium carries no identifiable side it is counted and named in the subline as excluded rather than distributed. Biggest trade shows the largest single print, with a count of mega prints at or above $500K and, when any were detected, the number of sweeps and golden sweeps.

Before any poll has succeeded, all four cards show an em dash and a reason: waiting for the first poll, the last poll failed, or no poll has succeeded yet. After a successful poll that returned nothing, the totals are real zeros and the cards say 'no prints in window' so that the zero is not read as a broken feed.

The call/put race draws cumulative call premium in green and cumulative put premium in red, with the area between them filled in the colour of whichever leads. Two curves rising together are volume without direction; the moment they separate is when someone picked a side, and that moment compares against price better than a closing total does. The legend prints both totals and the header the put/call ratio.

'Where the money went' ranks the contracts of the window by total premium, ten rows deep, each with its days to expiry, total premium, print count and a lean label. Lean is net premium as a share of total: at or above 15% the row reads bought, at or below −15% sold, and anything between reads mixed. Rows that traded more than their open interest carry an OI multiple. Clicking a row filters the tape to that contract.

Settings

How to use it

• Compare the total premium split with the put/call ratio: they answer the same question from two angles and disagree when a few very large prints dominate one side.
• Watch the race for the separation point, not the endpoint, and line it up against the underlying chart directly above it.
• Use the lean column in the ranking to tell a contract that was accumulated from one that simply changed hands.
• Click a ranked contract to focus the tape, then clear the focus chip to go back to the whole window.

Limits and pitfalls

Every figure is a figure over the current window of prints, capped at the ring size, and clearing the window resets all of them. The race starts at the oldest print still kept, not at the opening bell.

The buy and sell totals will not add up to total premium whenever some prints carry no aggressor side; the difference is printed rather than hidden. The ranking's open interest is the largest value seen for that contract, because an older chain snapshot can miss contracts created during the day.