At NinjaSpread, we continuously strive to empower our subscribers with cutting-edge tools and comprehensive data to enhance their trading strategies. Today, we are thrilled to introduce Metrics, a groundbreaking feature designed to provide in-depth analysis and unparalleled visibility into stocks and ETFs. Metrics is now available as a dedicated subpage within NinjaSpread, offering four distinct tabs packed with valuable information to elevate your trading game.
Unlocking Hidden Data with Metrics
Previously, NinjaSpread provided extensive data on stocks and ETFs, but with Metrics, we take it a step further. Subscribers can now access a wealth of new metrics that were previously unavailable, enabling more informed decision-making and strategic planning. Whether you are an options trader seeking to understand gamma and delta exposures or an investor looking to analyze price and IV skew, Metrics has you covered.
Explore Metrics through Four Comprehensive Tabs
Metrics is organized into four intuitive tabs: Strike Metrics, Price Skew, IV Skew, and Price Skew Matrix. Each tab offers a unique set of data and tools tailored to different aspects of your trading analysis.
1. Strike Metrics Tab
The Strike Metrics tab is your gateway to detailed option metrics based on selected stock and expiration combinations. Here’s what you can explore:
- Gamma OI – Expiration: Visualize the net gamma exposure grouped by expiration dates. A positive value indicates higher call gamma exposure, while a negative value signifies higher put gamma exposure.
- Gamma OI – Strike: Examine net gamma exposure across various strike prices, considering all expirations within the specified Days to Expiration (DTE).
- Call Gamma OI: Analyze the gamma exposure of call options, organized by strike price and expiration date.
- Put Gamma OI: Similar to Call Gamma OI, this displays the gamma exposure for put options.
- Call Delta OI: Assess the delta exposure of call options, categorized by strike and expiration.
- Put Delta OI: View the delta exposure for put options, broken down by strike and expiration.
- Call and Put OI and Volume: Access comprehensive charts displaying open interest and trading volume for both call and put options, organized by strike price and expiration.
2. Price Skew Tab
Understanding price skew is crucial for identifying overvalued options and optimizing your trading strategies. The Price Skew tab offers:
- Skew Calculation: Determine the price skew for selected stocks and DTE combinations, revealing whether call or put options are overpriced at various strike distances.
- Positive Skew: Indicates that call options are more expensive.
- Negative Skew: Suggests that put options carry higher premiums.
- Scenarios Analyzed:
- Binary Expected Move: Derived from ATM straddle and OTM strangle pricing, this symmetric metric reflects market expectations around current prices.
- Delta-Based Skew: Calculate skew for options at 16, 25, and 40 delta distances, providing a nuanced view of option pricing across different strike levels.
- Binary Expected Move: Derived from ATM straddle and OTM strangle pricing, this symmetric metric reflects market expectations around current prices.
By identifying where the market is pricing options more aggressively, traders can make strategic decisions to find the best option strategies. Below you can see a sample for SPX pricing skew.
3. IV Skew Tab
While Price Skew focuses on option premiums, the IV Skew tab delves into implied volatility skew, offering insights into the relative volatility expectations of calls and puts. Key features include:
- IV Skew Calculation: Similar to Price Skew, but instead of option prices, it calculates the skew based on implied volatility.
- Visual Insights: Easily identify whether call or put options exhibit higher implied volatility, aiding in volatility-based trading strategies.
Understanding IV Skew helps traders anticipate market movements and adjust their positions to align with volatility expectations.
Below you can see a sample of SPX IV skew.
4. Price Skew Matrix Tab
For a holistic view across all stocks available on NinjaSpread, the Price Skew Matrix tab provides:
- Comprehensive Skew Analysis: Calculate the Binary Expected Move pricing skew for every stock on NinjaSpread up to a specified expiration date.
- Average Skew Insights: The final “Avg” column presents the average pricing skew value, allowing users to quickly sort and identify which stocks have overvalued call or put options.
This matrix simplifies the process of scanning multiple stocks, enabling traders to pinpoint opportunities across the entire platform efficiently.
Below you can see the top of the table and how it shows you which expiration has Call or Put price skew.
Enhancing User Experience
To ensure flexibility and precision in your analysis, Metrics includes a handy feature to exclude 0 DTE (Days to Expiration) options. Simply check the Skip 0 DTE box next to the refresh button to omit these options from your metrics, allowing you to focus on more relevant expirations.
Why Metrics is a Game-Changer
Metrics transforms how you interact with option data on NinjaSpread by providing:
- Depth and Detail: Access a wide array of metrics that offer deep insights into option exposures and pricing dynamics.
- User-Friendly Interface: Navigate through four dedicated tabs, each designed to address specific aspects of your trading analysis.
- Actionable Data: Leverage detailed charts and matrices to make informed, strategic trading decisions.
- Time Efficiency: Quickly scan multiple stocks for skew opportunities, saving you time and effort in your research.
Get Started with Metrics Today
Unlock the full potential of your trading strategies with Metrics on NinjaSpread. Dive into advanced option metrics, understand market skew dynamics, and make data-driven decisions with confidence. Visit the Metrics subpage on NinjaSpread and elevate your trading experience today.
For any questions or support, our dedicated team is here to assist you. Embrace the future of trading analytics with NinjaSpread’s Metrics and stay ahead of the market.
Join Us for More
This update is live now, and we encourage all NinjaSpread users to explore this integration with OptionStrat. It’s designed to save time, enhance your analysis, and streamline your overall trading process. Whether you’re a seasoned trader or new to options trading, this new feature can make your analysis more efficient and data-driven.
Stay tuned for more exciting updates and improvements as we continue to make NinjaSpread the ultimate options trading scanner.
