Option Volume displays the total volume of options traded, broken down into Call Volume and Put Volume, plotted as bars on a subgraph below your chart. It helps you quickly identify which side of the market - calls or puts - is seeing more activity at any given time, giving you a broader view of options market participation alongside your price action.

Note: Option Volume is available on NDX, QQQ, SPY, and SPX.

How to Add Option Volume

1. Go to New in the top menu

2. Click on Option Chart
   
   

   

   
   
   

3. A Select Instrument dialog will appear with the following options:
   NDX - Symbol: NQ-CME, Exchange: CME
   QQQ - Symbol: NQ-CME, Exchange: CME
   SPX - Symbol: ES-CME, Exchange: CME
   SPY - Symbol: ES-CME, Exchange: CME
   
   

   

   
   
   

4. Select your preferred instrument and click to open the chart

5. Once the Option Chart is loaded, click the Indicator Add button on the chart toolbar

6. Search for Option Volume and click + to add it

7. Click the settings icon to open the configuration window

   

Settings

Parameters

General

• Expiration - Filter volume by expiration. Options available: 0 DTE, <= 1d, <= 2d, <= 3d, <= 4d, <= 5d, <= 6d, <= 7d, <= 31d, <= 91d, All expirations. Default is All expirations

• Value - Choose how the volume is measured. Options available:

  • Contracts (default) - displays the raw number of option contracts traded.
    Use this when: you want a simple count of trading activity, regardless of price

  • Premium - displays volume in terms of total dollar premium traded.
    Use this when: you want to weigh volume by dollar value, since a small number of expensive contracts can matter more than a large number of cheap ones

  • Future contracts - displays volume converted into equivalent futures contracts.
    Use this when: you want to compare options volume directly against futures volume on the same chart

• Display mode - Choose how the call and put volume bars are displayed. Options available:

  • Splitted (default) - shows call and put volume as separate bar sets side by side, making it easier to compare the two independently

  • Stacked - combines call and put volume into a single stacked bar per candle, making it easier to read total volume at a glance while still showing the call/put split within each bar

    

Subgraphs

The Subgraphs tab lets you control how each series is displayed on the chart. There are 3 subgraphs:

Total Volume (1)

• Color - Set the color for total volume

• 2° Color - Set a secondary color

• Subgraph Style - Choose between Line or Hidden. Default is Hidden

• Auto Color - Options: None, Slope, +/-. Default is None

• Line Style - Choose between Solid or Dash. Default is Solid

• Line Width - Set the line width. Default is 1

• Short Name - Set a custom label for this series

• Name Label - Toggle visibility of the name label

• Value Label - Toggle visibility of the value label

• Name Background - Toggle the name label background

• Value Background - Toggle the value label background

• Chart color for marker - Enable to use chart color for markers

• Include on Auto Center - Enable to include this series in auto centering. Default is enabled

  

Call Volume (2)

• Color - Set the color for call volume. Default is green

• 2° Color - Set a secondary color

• Subgraph Style - Default is StackedBars

• Auto Color - Options: None, Slope, +/-. Default is None

• Line Style - Choose between Solid or Dash. Default is Solid

• Line Width - Default is 5

• Short Name - Set a custom label for this series

• Name Label - Toggle visibility of the name label

• Value Label - Toggle visibility of the value label

• Name Background - Toggle the name label background

• Value Background - Toggle the value label background

• Chart color for marker - Enable to use chart color for markers

• Include on Auto Center - Enable to include this series in auto centering. Default is enabled

  

Put Volume (3)

• Color - Set the color for put volume. Default is purple

• 2° Color - Set a secondary color

• Subgraph Style - Default is StackedBars

• Auto Color - Options: None, Slope, +/-. Default is None

• Line Style - Choose between Solid or Dash. Default is Solid

• Line Width - Default is 5

• Short Name - Set a custom label for this series

• Name Label - Toggle visibility of the name label

• Value Label - Toggle visibility of the value label

• Name Background - Toggle the name label background

• Value Background - Toggle the value label background

• Chart color for marker - Enable to use chart color for markers

• Include on Auto Center - Enable to include this series in auto centering. Default is enabled

  

Option Volume Indicator View -

Example - How to Use Option Volume

Option Volume helps you understand which side of the options market is more active at any given time. Here are some practical ways to use it:

Reading the Bars

• Green bars = Call volume

• Purple bars = Put volume

• The taller the bar, the more activity on that side

Practical Uses

• Identifying directional bias - When call volume is consistently higher than put volume throughout the session, it suggests more bullish activity in the options market. When put volume dominates, it suggests more bearish activity

• Spotting volume spikes - A sudden spike in call or put volume can signal that large participants are entering positions. When this happens near a key GEX level it adds confluence to that level

• Comparing call vs put activity - Switch to Stacked mode to quickly see combined volume at a glance and spot which side is dominating, or use Splitted mode to compare call and put bars independently side by side. A balanced view suggests the market is in a neutral state. A clear dominance of one side suggests directional pressure

• Filtering by expiration - Use the 0 DTE filter to focus only on same day options activity which has the most immediate impact on price movement

  

Note: Option Volume gives you a broad view of market participation. Always combine it with your GEX levels, footprint and DOM for a complete picture before making any trading decisions.

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