Market Screener
Comprehensive Market Overview at The Fingertips
Last updated
Comprehensive Market Overview at The Fingertips
Last updated
The Market Screener widget (MS), a pioneering tool developed by Thales, is the first of its kind to offer users a unique way to analyze the Bitcoin options market. For the first time, users can access and process comprehensive options data with the ability to visualize all trades within a chosen period. This tool allows filtering by key parameters like expiration and strike price, enabling users to analyze thousands of trades as if they were part of one unified market position—offering insights not available elsewhere in the trading landscape.
What sets this widget apart is its ability to consolidate a vast number of trades into a single, visual representation. By selecting trades and filtering them based on user-defined criteria, the Market Screener provides a comprehensive market overview as if all trades were part of one collective position. This graphical output, integrated with the Graph widget, delivers a strategic view of market dynamics, making it an invaluable tool for professional traders seeking to assess market behavior and identify trading opportunities.
To access the Market Screener widget, simply right-click anywhere on the dashboard and navigate to the "Market Data" section. From there, you will find the Market Screener widget available for selection.
Upon selecting the Market Screener widget, data from the last 3 days is automatically retrieved from the default source and displayed in a detailed table. This includes crucial parameters such as type, expiry, strike, and more, providing users with an instant snapshot of market trends. Additionally, selected data can be visualized using the Graph icon, simplifying the analysis of the market and helping traders identify opportunities quickly.
At the top left of the Market Screener widget, data sources can be selected. By default, a raw data from Deribit data is taken, though users have the option to switch to a different source as needed. These data sources enable the retrieval of either unprocessed market data or data that has undergone adjustments for more detailed analysis.
The default time frame of the Market Screener widget is set to the last three days, but users can manually adjust this period using two methods. First, by selecting the start and end dates through the calendar icon, as highlighted in the image. Second, by adjusting the time slider located at both the left and right of the widget. This slider allows for fine-tuning of the selected time frame, narrowing it down to as small as one hour.
The Market Screener widget allows users to select the time frame for volume display using three options: 1 hour, 4 hours, or 1 day. Based on the selected time frame, the purple columns represent the volume of trades executed within that specific interval, providing a visual breakdown of activity during the chosen period.
Users have the ability to customize which columns are displayed in the Market Screener table by toggling switches for each available column. Default columns include Underlying, Price, IV (Implied Volatility), Size, Entry Price, Entry Value, Entry Date, Block TradedID, and OI Change. By using the toggle buttons, users can hide or display columns according to their preference, tailoring the table view to focus on the most relevant data for their analysis.
When the Market Screener widget is resized, the labels in the table dynamically adjust to fit the smaller space. For instance, “Call” is shortened to “C,” and the “Short” or “Long” position types are represented as “S” or “L,” respectively. This ensures that even with a compact layout, the most essential data remains visible. By resizing the widget, users can customize their dashboard while still maintaining the clarity of the key information displayed.
To filter the Type column, users can select or deselect either Call or Put options by checking or unchecking them as shown in the filter dropdown. This allows for easy filtering based on the type of options. Additionally, sorting functionality is available, allowing users to arrange the types in either way. This feature provides a quick way to organize and focus on specific option types.
For filtering the Expiry field, users can click on the filter icon and select specific expiration dates from the drop-down menu. This filter allows users to narrow down their selection by choosing one or multiple expiration dates as needed. Additionally, the data can be sorted by expiry in either ascending or descending order using the sort arrows, allowing for quick organization of contracts by their expiration dates.
Sorting can be done by selecting the arrow icon next to the "Strike" header, which arranges the strike prices either in ascending or descending order, simplifying the management of strike price data.
The filter for the "Underlying" column works similarly to other filters in the widget. Users can adjust the range by moving the sliders left or right, selecting the desired range for underlying prices to be displayed in the table.
For each contract, the underlying price is specific and distinct from the stock price. This price is calculated separately for every contract, reflecting the particular conditions and details of the contract itself.
The "Price" field represents the premium or cost of the option contract. By using the filter slider, users can set a range for the premium prices they wish to analyze, which allows for targeted filtering based on contract costs. This helps traders focus on contracts within their desired pricing range.
The "Price" field can also be sorted, allowing users to organize option contracts by ascending or descending premium values.
To clarify the difference between the "Price" and "Entry Price" fields: the Price field represents the current market price or live price of the option contract, whereas the Entry Price shows the premium that was paid at the time the trade was executed. This distinction highlights the difference between the real-time market value and the historical trade price.
Implied volatility (IV) can be adjusted by using a slider, which allows filtering trades within a specific IV range. This enables users to focus on contracts with desired volatility levels, enhancing precision in market analysis.
The Implied Volatility (IV) column can also be sorted in ascending or descending order, similar to other parameters in the table.
The "Side" field in the MS allows users to filter for either long or short positions. The data can also be sorted, providing flexibility for viewing trades based on their direction.
To filter the size field, users can use the slider, as well as arrows, to define a range, adjusting the minimum and maximum values (or manually enter their desired value). This field is useful for identifying patterns, such as distinguishing between larger institutional trades and smaller retail ones. Sorting by size allows users to analyze market behavior by looking at the participation of big players versus smaller traders.
The "Entry Price" field represents the price at which the trade was settled. Users can filter this field by adjusting the slider, using the arrows, or entering values manually. Like other fields in the MS, the Entry Price can also be sorted in ascending or descending order to provide insights into historical trade values.
The "Entry Value" shows the total premium either paid for long positions or received for short positions in a specific trade. This field, like other columns, can be filtered or sorted, allowing users to narrow down the data based on the total trade value, which can be crucial for identifying high-value transactions. By utilizing the slider, the arrows, or manually entering the range, users can fine-tune their analysis and better focus on trades with specific premium amounts.
This field shows the date when each trade was executed, providing insights into how the option players' attitudes or actions have evolved over time. By observing the entry dates, users can analyze the market's reaction at specific moments and track how sentiment changes across different periods. Like other fields, the Entry Date can be filtered or sorted, allowing for a focused analysis of trades within specific time frames or trends.
Block trades can be filtered or sorted in the Market Screener widget, which provides valuable insights into the activity of large players in the options market. These trades are often considered important due to the size and strategies involved, potentially representing the moves of "smart money." By analyzing this field, users can observe patterns or strategies employed by institutional investors, offering clues to advanced options strategies or market sentiment.
The Open Interest (OI) change field tracks how specific trades influence the total number of outstanding contracts. Trades can either increase, decrease, or leave the OI unchanged. Filtering this field allows users to isolate positive OI changes, indicating new positions, or negative changes, suggesting offsetting or closing actions. This field can be filtered via sliders, manual input, or sorting—similar to other parameters—enabling traders to focus on OI trends that match their market strategies.
All filters can be reset by clicking on the designated icon, as shown in the image below. This action will automatically remove all previously applied filters, allowing the data table to revert to its default, unfiltered view.
To display selected data visually, the graph icon at the top right of the widget can be clicked. This action seamlessly transitions the filtered or chosen data into a graphical representation, as shown in the graph widget
For further details on how the graph widget functions and its various features, users can refer to the Graph section.
When the graph is moved, zoomed in, or zoomed out, the visual rendering may temporarily reduce the number of data points displayed, causing the lines to appear broken or jagged. This adjustment helps maintain responsiveness while repositioning the graph. However, once the mouse is released, the graph will automatically recalibrate, and the curves will be restored to their accurate form without any breaks.
Whenever the Data Source or the time frame is changed, the Fetch button must be clicked to retrieve the latest data. The table will become pale, indicating that the data needs to be refreshed. By clicking the Fetch button, the most recent data will be displayed, ensuring the user is working with up-to-date information (see the image below).
To filter strike prices, the filter icon next to the "Strike" column header is selected. A slider then appears, allowing for adjustments to the range by sliding the controls. Additionally, fine-tuning the range can be achieved by clicking the up/down arrows located on either side of the text box for each value, or the desired range can be manually entered into the input fields for more precision. This makes it possible to define the desired strike price range.
After filtering and refining the data, specific rows can be selected for focused analysis by deselecting the main checkbox and marking the relevant rows. This enables users to analyze particular trades while maintaining an overall market perspective. Once the desired rows are chosen, the graph will display the corresponding data, but it must be refreshed by clicking the icon to reflect the new selections accurately. This feature is essential for detailed analysis within the broader market context.
