Volatility Analysis

What is volatility by open interest?

Volatility by open interest is implied volatility times open interest at each strike. On EZPZ, Volatility Analysis is Volatility By Open Interest, Open Interest, and Implied Volatility Smile for one ticker. Search ticker, then Go. Each card has Strikes Min and Max plus an expiry. It is not a buy or sell.

On EZPZ, the live page title is Volatility Analysis. The eyebrow is Options Analytics. The ticker line starts on SPY plus last price. The screenshot uses SPY at $761.69. The subline is OI, IV Smile, and IV×OI. Search ticker placeholder is e.g. SPY. Go loads the name. Enter also loads it. The first card is Volatility By Open Interest. The y-axis is IV × OI. The legend is Call and Put. A yellow Price line marks last price. Strikes is Min and Max. An expiry date sits on that bar. The second card is Open Interest, with Call and Put bars. The third card is Implied Volatility Smile. Under those, VIX Volatility Index sits next to S&P 500 Skew Index. Each strike card has its own Strikes and expiry. A peak can still be a hedge, a spread, or a dealer book. None of those lines is an order.

On EZPZ, this page is IV×OI, Open Interest, and Implied Volatility Smile for any ticker you search. Greeks is Call and Put Delta, Theta, and IV across five expiries, then Delta, Theta, Vega, and Gamma Maturity. Open Interest Scan is OI per Strike and OI per Expiration, not this one-expiry Open Interest card. Volume Scan is the Volume by Strike and Volume by Expiration chart pair. Greeks Heatmap is the strike-by-expiration grid with Gravity Magnet Score. GEX and DEX is the Intraday GEX and DEX chart pair with Gamma Flip. Spot Gamma and Delta is the ($) Open Interest versus ($) Volume bar pair with a Spot line. Gamma Exposure is the searchable strike table with Call Wall and Put Wall. GEX Heatmap is the strike-by-expiration GEX grid with a GEX Details table. Option Depth Flow is the searchable strike-by-time Bubble or Gradient chart. Market Maker Exposure is the SPX Flip Level chart with Call Wall, Put Wall, and Expected Move(VEM) and DEM. Market Cross Flow is the SPY, SPXW, and QQQ GEX grid next to candles. Expected Move is the DEM and VEM band chart by expiration. Put to Call Ratio is the Intraday Put/Call Ratio chart of Traded PCR, OI PCR, and Sentiment PCR. Max Pain is Intraday Max Pain with O-Max Pain, P-Max Pain, and V-Max Pain. Ticker Explorer is the one-symbol dashboard after you already picked a name. Largest Premium By Tickers is the Bullish Flow / Bearish Flow premium leaderboard when you do not have a ticker yet. Index Trader is the index dashboard with Premium Traffic Lights. Top 20 Optionable ranks listed-option names by Vol. * Price. Market Wave is the Current Day chart of Net Call Premium versus Net Put Premium. Net Flow Graph is one ticker you search with Filter ticker, plus Cumulative Volume Delta. Historical Net Premium is the 15D Cumulative lookback with a daily table. 0DTE Graph is the same-day premium chart with Filter ticker. The 0DTE dropdown is the lock. Weekly-DTE Graph is the WTE chart of premium that expires by Friday. 7-DTE Graph is the 7DTE chart of premium in the next 7 days. Supply and Demand X-ray is the ITM Call and Put chart of Price, Supply, and Demand. Money Sentiment is Bought Ratio, Net Sentiment, and Netflow Graph for one ticker. Net Premium Heatmap is the strike-by-expiration grid of Net Premium for one ticker. Movers and Shakers Tide is that same chart job for about 18 mega-cap names. Option Chain is the listed book, where IV and OI sit on a contract row. Live Flow is the tape of prints. Unusual Activity keeps only large, sweep, and block prints. Unusual Activity Intraday is the session scan with a date range. $1M Plus Flow keeps only million-dollar premium. 0DTE Flow keeps only prints that expire today. SPX and SPY Flow locks the tape to SPX, SPXW, and SPY. IV Rank Explorer is Current IV (30D), IV Rank (1Y), period IV Rank, and IV Percentile (1Y) plus the IV Rank chart. Historical Volatility is 10D through 90D Volatility versus Price. Volatility Surface 3D is Raw Contracts and Smoothed Mesh for one ticker.

How Volatility Analysis works on EZPZ

Search a ticker, then read Volatility By Open Interest around the yellow Price line. It is not a score. Most people start on IV × OI. If a strike looks loud, scroll to Open Interest on that same expiry. Then read Implied Volatility Smile. Narrow Strikes only if the chain is too wide. Change the expiry on that card if you want a different date. Do not treat SPY as a default thesis.

How this differs from Open Interest Scan

Open Interest Scan is OI per Strike plus OI per Expiration. View is OI or OI Changes. Filter is ITM / OTM. This page is one Open Interest card for one expiry, next to Volatility By Open Interest and Implied Volatility Smile. There is no OI Changes view and no expiration total chart. Use Open Interest Scan when you want standing contracts across dates. Use this page when you want IV×OI and the smile on the same ticker. Use Greeks when you want Call IV Distribution across five expiries. Use Volume Scan when you want Call and Put volume. Use Greeks Heatmap when you want Gravity Magnet Score. Use GEX and DEX when you want Gamma Flip. Use Spot Gamma and Delta when you want ($) Open Interest versus ($) Volume. Use Gamma Exposure when you want Call Wall and Put Wall. Use GEX Heatmap when you want pinning versus volatility cells. Use Option Depth Flow when you want strike by time. Use Market Maker Exposure when you want SPX Flip Level. Use Market Cross Flow when you want SPY, SPXW, and QQQ side by side. Use Expected Move when you want DEM versus VEM. Use Put to Call Ratio when you want Traded PCR. Use Max Pain when you want V-Max Pain. Use Ticker Explorer when you want quote, GEX, and unusual activity on one scroll. Use Largest Premium By Tickers when you still need a name from Bullish Flow or Bearish Flow. Use Index Trader when you want traffic lights. Use Top 20 Optionable when you want Vol. * Price rank. Use Market Wave when you want Current Day Net Call Premium versus Net Put Premium. Use Net Flow Graph when you want Filter ticker plus Cumulative Volume Delta. Use Historical Net Premium when you want the 15D table. Use 0DTE Graph when you want same-day premium. Use Weekly-DTE Graph when you want Friday. Use 7-DTE Graph when you want the next 7 days. Use Supply and Demand X-ray when you want Price, Supply, and Demand. Use Money Sentiment when you want Bought Ratio and Net Sentiment. Use Net Premium Heatmap when you want the strike-by-expiration grid. Use Movers and Shakers Tide when you want the 18-name basket. Use Option Chain when you want IV on a contract row. Use Live Flow when you want the prints.

Anatomy of the three strike charts

You do not need every card on every session. Use the tabs if you want a map of the fields.

Header and search

• e.g. SPY / Go: Type a ticker. Placeholder is e.g. SPY. Go loads the name. Enter also loads it.
• Options Analytics: The eyebrow above the ticker line.
• OI, IV Smile, and IV×OI: The subline under last price.

VIX and S&P 500 Skew Index

Under the smile, two cards sit side by side. The left label is VIX Volatility Index. The right label is S&P 500 Skew Index. Those charts are index context. They do not change when you type a single-name ticker in the header search.

Controls on this page

The header has ticker search and Go. Each strike card has its own Strikes Min and Max and its own expiry date. Use those controls to change the clock. Do not treat them as a score.

• e.g. SPY / Go: Load another name. Placeholder is e.g. SPY.
• Strikes: Min and Max on Volatility By Open Interest, Open Interest, and Implied Volatility Smile separately.
• Expiry date: One date per strike card. Changing one card does not change the others.

How people actually use it