Calculate Average Options Volume for Your Stocks

The opt_VolumeOptionsAverage function (fn_01491) helps you compute the average daily options volume for a given stock (Underlying) over a specified number of trading days. It allows you to further refine your results by specifying whether you want total volume, only puts, or only calls. This function is particularly useful for investors and traders who want to quickly gauge market sentiment or trading activity for a specific ticker over a certain period.

Why Use This Function?

• Efficient options volume analysis: Gain insights into the average options volume for a stock over your chosen number of days.
• Track market interest: Filter for put or call volume if you’re interested in a particular strategy or market sentiment.
• Flexible parameter handling: If you do not specify an OptionType, the function defaults to total options volume.
• Helps in strategy formation: By observing average volume trends, traders can identify potential liquidity or sentiment changes in the market.
• Easy to integrate: Simple syntax makes it easy to incorporate into your models or daily monitoring sheets.

How to Use in Excel

=opt_VolumeOptionsAverage( Underlying, Days, [OptionType] )

• Underlying: The stock or index ticker symbol (for example, "AAPL" or "^SPX").
• Days: The number of recent trading days over which you want to average.
• OptionType (optional): Specify "Call" (or "C") to view call volume, "Put" (or "P") to view put volume, or omit it for total options volume.

After entering the formula in an Excel cell, the function retrieves and calculates the requested average volume, returning either a numeric value, "NA" if an error occurs, or "Refreshing" if the data is in the process of updating.

Parameters Explained

Example Usage

Basic Examples

1. Total Options Volume for 5 Days (default behavior)

   • In a cell, type:
     =opt_VolumeOptionsAverage("AAPL", 5)
     This returns the average total options volume for AAPL over the last 5 trading days.

2. Put Volume for 10 Days

   • In a cell, type:
     =opt_VolumeOptionsAverage("TSLA", 10, "Put")
     This returns the average daily put volume for Tesla over the last 10 trading days.

3. Call Volume for 7 Days

   • In a cell, type:
     =opt_VolumeOptionsAverage("^SPX", 7, "C")
     This returns the average daily call volume for the S&P 500 index (SPX) over the last 7 trading days.

Advanced Scenarios

1. Combine with Other Excel Functions

   • For example, you might compare the average put volume to the average call volume side by side:
     =opt_VolumeOptionsAverage("MSFT", 15, "P") / opt_VolumeOptionsAverage("MSFT", 15, "C")
   • This ratio helps you measure put-call volume skew over 15 days.

2. Integrating Into a Trading Strategy

   • You can embed these functions into your watchlists or strategy dashboards to alert you when average put or call volume crosses certain thresholds.
   • Example:
     =IF(opt_VolumeOptionsAverage("AMD", 5, "P") > 50000, "High Put Volume", "Normal Volume")

3. Handling Indices

   • When analyzing indices like ^SPX or ^NDX, the function automatically adjusts them to SPX or NDX internally, providing accurate average volume metrics.

Common Questions and Troubleshooting

• Why am I seeing "NA"?

• This can happen if an error occurs with the data retrieval process or if the symbol is invalid. Double-check your ticker symbol and parameter inputs.

• What if the function returns "Refreshing"?

• The data is currently being updated or is in the process of refreshing. Try the function again shortly; MarketXLS caching/logging ensures efficiency.

• What happens if I enter a non-numeric value for Days?

• The function will attempt to interpret non-numeric input, but if it fails, you may receive an error or "NA." Always provide a valid integer.

• Why do I get “Call/Put flag has invalid format. Please check your inputs.”?

• If you provide an unrecognized OptionType value, the function flags it as invalid. Make sure you use either “Call,” “C,” “Put,” “P,” or leave it blank.

These steps, examples, and details make it easy to calculate average options volume right inside your Excel workflow. With opt_VolumeOptionsAverage, you can build comprehensive strategies, track options activity across multiple symbols, and maintain a dynamic trading dashboard using MarketXLS.