Looking for Options RoR/ROI, unusual activity

[JKov]

Hello,

I recently came across a video where the author shared custom indicators, such as:

The open interest vs volume (OI / VOL) option script will display the difference in volume and open interest on each individual strike today. This can be used to quickly identify unusual option activity and those strikes which have significantly higher volume than is expected.

The option premium percent of underlying script (%UNDERLYING) will display the option premium as a percentage of the underlying stock. It's very similar to Return on Risk (ROR) but can also be used for call options.

The option percent change script will display how much the option contract has changed in value over a set time period. The script is set to 3 days, but can be adjusted to any time period you chose to measure.

However, his site is down.
Does anyone have or may know how to create these scripts?
Thank you

 

[whoDAT]

Hello,

I recently came across a video where the author shared custom indicators, such as:

The open interest vs volume (OI / VOL) option script will display the difference in volume and open interest on each individual strike today. This can be used to quickly identify unusual option activity and those strikes which have significantly higher volume than is expected.

The option premium percent of underlying script (%UNDERLYING) will display the option premium as a percentage of the underlying stock. It's very similar to Return on Risk (ROR) but can also be used for call options.

The option percent change script will display how much the option contract has changed in value over a set time period. The script is set to 3 days, but can be adjusted to any time period you chose to measure.

However, his site is down.
Does anyone have or may know how to create these scripts?
Thank you

What was the website's address? It may have been archived at archive.org

 

[antwerks]

This scanner searches for actively traded put options on stocks that already passed my SPMO selling-puts momentum scan (a set of the top 50 stocks in the fund). It looks for puts with 7 to 60 days remaining until expiration, a bid and ask of at least $0.25, at least 50 contracts traded today, at least 25 contracts in open interest, and a delta between approximately −0.15 and −0.45. The delta range generally captures puts that are out of the money through moderately close to the stock price. Because the scan is intersected with my SPMO list, it focuses on stocks with favorable upward momentum rather than searching the entire market indiscriminately. The VOL/OI column compares today’s option volume with the contract’s existing open interest. A reading of 1.00 means today’s volume equals the number of contracts previously open. A reading of 2.00 means today’s volume is twice the existing open interest. Higher readings can indicate unusual activity because an unusually large number of contracts are trading compared with the contract’s established position base. Readings below 1.00 are generally less unusual, while readings above 1.00 deserve attention and readings above 2.00 may represent especially concentrated activity. A high VOL/OI ratio should not be interpreted by itself. A ratio can appear unusually high simply because open interest is very small. For example, volume of 100 against open interest of 20 produces a ratio of 5.00, but that is not necessarily more important than volume of 2,000 against open interest of 1,000. The strongest candidates normally combine a high ratio with meaningful absolute volume, substantial open interest, and a reasonably narrow bid-and-ask spread. The scanner also does not tell us whether traders are buying or selling the puts. Heavy put activity could represent bearish speculation, portfolio protection, traders closing old positions, or investors selling puts to collect premium. The ratio identifies activity that deserves investigation; it does not determine the direction or purpose of that activity. The option’s price movement, bid-and-ask behavior, the stock’s chart, and the next day’s change in open interest provide additional context. For selling puts, the scanner should be treated as a candidate generator rather than an automatic trade signal. After identifying a contract, examine the underlying stock’s trend and support levels, the strike’s distance below the current stock price, the premium received, the bid-and-ask spread, upcoming earnings, and the amount of capital required if assigned. The most attractive setup is generally an upward-trending stock pulling back toward support, with the selected put strike below that support, adequate premium, strong option liquidity, and a position size that remains manageable if the shares are assign.

https://imgur.com/PkdkVcF

then as an option hacker column:

# OPTION CHAIN / WATCHLIST COLUMN - TODAY'S VOLUME DIVIDED BY OPEN INTEREST
# Set column aggregation to DAY.

def optionVolume = volume;
def optionOpenInterest = open_interest();

plot Ratio =
    if optionOpenInterest > 0
    then optionVolume / optionOpenInterest
    else if optionVolume > 0 then 999
    else 0;

Ratio.AssignValueColor(
    if Ratio >= 5 then Color.MAGENTA
    else if Ratio >= 2 then Color.CYAN
    else if Ratio >= 1 then Color.GREEN
    else Color.GRAY
);

AssignBackgroundColor(
    if Ratio >= 5 then Color.GRAY
    else if Ratio >= 2 then Color.DARK_GREEN
    else if Ratio >= 1 then CreateColor(35, 70, 35)
    else Color.BLACK
);