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Guides to reading option data

15 guides covering every tool on Sahi, plus 4 on the index underlyings themselves — what each number measures, how to read it, and the mistakes that make it misleading. All free, no account needed.

Open the live option chain Options FAQ

A reading path

New to option data? Take the guides in this order, or jump to the one you need.

  1. 1
    2 guides

    Read the chain

    Every column, and what a change in one means.

    Start with How to Read an Option Chain →
  2. 2
    5 guides

    See where positions stand

    Open Interest, its walls and how it shifts.

    Start with Open Interest Page Guide →
  3. 3
    3 guides

    Price, premium, volatility

    What the market is paying for, and why.

    Start with Implied Volatility Explained →
  4. 4
    4 guides

    Build and scan

    Test a position, scan the market, watch it all at once.

    Start with Options Strategy Builder Guide →

Read the chain

The surface every other number comes from

2 guides
Option Chain How to Read an Option Chain Every column of the chain, what it measures, and the order to read them in. Tool: Option Chain OI Change OI Change Explained What a rising or falling OI number means once you pair it with price. Tool: Open Interest

See where positions stand

Where positions are standing, and moving

5 guides
Open Interest Open Interest Page Guide The four views of the Open Interest page, the window, the insight verdict and every control. Tool: Open Interest OI Heatmap OI Heatmap Explained Where OI clusters, how walls form, and what the shape of the distribution says. Tool: OI Heatmap PCR PCR Explained What the Open Interest ratio divides, which strikes it counts, the lines on it, and what a crossing of 1.00 is. Tool: PCR Max Pain Max Pain Explained The sum behind the strike, worked by hand, and what it does and does not show. Tool: Open Interest OI Spurts OI Spurts Explained Top moves, the rotation map and the low-base trap, with every control explained. Tool: OI Spurts

Price, premium, volatility

What the premium is saying

3 guides
Straddle Straddle Workspace Guide The whole Straddle workspace: the premium, the move it prices, five views and every control. Tool: Straddle GEX Levels Gamma Exposure Explained The arithmetic, the flip, the walls — and the assumption underneath all three. Tool: GEX Levels Implied Volatility Implied Volatility Explained The priced move in points, against recent days and its own year, and why IV jumps after a weekend. Tool: Implied Volatility

Build and scan

Put the readings to work

4 guides
Strategy Builder Options Strategy Builder Guide Legs, payoff, breakevens and scenarios — and how to read each before anything else. Tool: Strategy Builder Options Scanner Options Scanner Guide Three views, one question each: where is the action, what is priced in, what fits my filter. Tool: Options Scanner Trader Cockpit Trader Cockpit Guide Layouts, templates and all 28 widgets on one screen, with the strip, linked strikes, shortcuts and routines. Tool: Trader Cockpit Insight Card Option Chain Insight Card Explained: Verdict Rules and Windows How the Insight card above the Option Chain reaches its verdict, and what each window compares. Tool: Option Chain

The index contracts

One guide per index underlying

5 guides
Market Flow Market Flow Guide Every future on one board: the Overview, the strongest on each side, and the zone, levels and checks behind each row. Tool: Market Flow NIFTY NIFTY Options Explained How the benchmark index option contract works, and why its book is the deepest. Underlying: NIFTY BANKNIFTY BANKNIFTY Options Explained Why a concentrated sector index prices wider than the benchmark, and what follows. Underlying: BANKNIFTY SENSEX SENSEX Options Explained The BSE index option, and how to compare it against NSE without being misled. Underlying: SENSEX FINNIFTY FINNIFTY Options Explained Where the financials index sits, and what a thinner book means when you read it. Underlying: FINNIFTY

How these fit together

Start with the option chain — it is the surface every other number is derived from. Open interest and OI change come next, because they are what turns a chain from a price list into a positioning map.

From there the guides split by what they aggregate. The heatmap and max pain read the distribution across strikes. PCR compresses it to one ratio, watches it move, and marks where it crosses. OI spurts look at what changed and how fast.

Those 15 are about method — they apply to any underlying. The 4 index guides are about the contracts themselves: NIFTY, BANKNIFTY, SENSEX, FINNIFTY — how each one is listed, where its liquidity sits, and how it differs from the others. Read a method guide to learn how to read a number; read an index guide to learn what is normal for that underlying.

Guides are method. The per-symbol analysis articles are that method applied to a live book — one for every F&O underlying, rebuilt as the data refreshes. Every answer across all 19 guides is collected in the options FAQ.