Volume study
In the Volume study you analyse, with real-time charts, where operators are placing contracts in the market — the strikes on which the day’s trading activity concentrates. Like the Open Interest study, it can aggregate several expirations and save snapshots.
Where it is
Section titled “Where it is”Side menu, Symbol → Position Analysis → Volumes. It refers to the active symbol and is available on all plans, including Free.
Here too, use the symbols institutional desks follow most — SPX, NDX, VIX, GLD. Futures are not supported in this mode.
How to run an analysis
Section titled “How to run an analysis”- Open the Expirations selector and tick one or more expiration dates.
- Optionally set the Strike filter (Moneyness).
- Press Process.
With several expirations selected, the chart shows the total volume across all of them.
Customising the view
Section titled “Customising the view”- Filters — show only the strikes of greatest interest, or customise the selection.
- Rotate chart — display the bars vertically.
- Multiple expirations together — see the total across every selected expiration.
- Reset Zoom, Screenshot and Fullscreen.
Comparison snapshots
Section titled “Comparison snapshots”As with Open Interest, you can create a snapshot of the current analysis and compare it with following or previous days. Snapshots can be renamed and deleted, and — as on the Open Interest study — the feature requires exactly one processed expiration, so it is unavailable in multi-expiration mode.
Open Interest or Volumes?
Section titled “Open Interest or Volumes?”The Open Interest study shows positions that are already open; the Volume study shows the activity happening today. Used together they give a fuller picture of market positioning: a strike that is heavily traded today but carries little Open Interest is a position being opened, while heavy volume on a strike that already holds large Open Interest is more often a position being closed or rolled.
Why traders use it
Section titled “Why traders use it”Snapshots are the point. Volume resets every session, so a single day’s profile is a snapshot by nature — but comparing today’s profile with the same expiration’s profile from three sessions ago is what reveals a pattern: the same strike attracting flow repeatedly, or flow migrating steadily up or down the ladder as spot moves.
Common mistakes
Section titled “Common mistakes”- Comparing volume across days without normalising for time of day. A profile captured at 10:00 is not comparable with one captured at the close.
- Expecting snapshots with several expirations processed. Process one expiration to enable them.
- Running it on futures. Not supported in the position analyses.
- Reading volume as direction. It counts contracts traded, not the side that initiated.
Frequently asked questions
What is the Volume study in Gaudio OTT?
A position analysis that charts, strike by strike, the option volume traded on the active symbol. It can aggregate several expirations at once and supports named snapshots for comparing activity across days.
What is the difference between the Volume study and the Open Interest study?
The Open Interest study shows contracts that are already open, so it describes accumulated positioning. The Volume study shows contracts traded today, so it describes current activity. Read together, heavy volume on a low-Open-Interest strike suggests a position being opened, while heavy volume on a high-Open-Interest strike more often means closing or rolling.
Does the Volume study work on futures?
No. Futures are not supported in the position analyses.
Which plans include the Volume study?
All of them, including Free. The position Volume chart is part of the Position feature group available on every plan.
Why is the snapshot option disabled?
Because more than one expiration is processed. Snapshots require exactly one processed expiration.
Related pages
Section titled “Related pages”Ready to use Gaudio OTT?
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