Calculate the Average Options Volume for a Specified Number of Days

The opt_VolumeOptionsAverage function in the MarketXLS Excel add-in retrieves the average options volume for a given underlying over a specific number of days. Whether you are analyzing calls, puts, or both, this function helps you quickly identify option activity trends for your favorite US stocks, ETFs, or other tradable instruments.

Why Use This Function?

• Get quick insights into recent trading activity by averaging volume over a set number of days.
• Compare how calls and puts trade for an underlying symbol.
• Use the returned volume insights to refine your trading strategies or confirm market sentiment.
• Seamlessly integrate the function into your existing Excel models without manual data gathering.
• Ideal for short-term or long-term traders who want consistent volume data for better decision-making.

How to Use in Excel

=opt_VolumeOptionsAverage(Underlying, Days, [OptionType])

1. In a cell, type “=opt_VolumeOptionsAverage(” and supply the parameters.
2. Press Enter to retrieve the average options volume.
3. If needed, reference other cells within the formula for dynamic updates.

Parameters Explained

Example Usage

Basic Examples

1. Average Volume for Both Calls and Puts Over 5 Days
   =opt_VolumeOptionsAverage("AAPL", 5)
   • Retrieves the five-day average options volume for both AAPL calls and puts.
   • Helpful for a quick snapshot of total options activity.

2. Average Volume for CALL Options Over 10 Days
   =opt_VolumeOptionsAverage("TSLA", 10, "CALL")
   • Focuses on only call contracts for Tesla.
   • Useful if you want to gauge bullish activity on TSLA.

3. Average Volume for PUT Options Over 30 Days
   =opt_VolumeOptionsAverage("GOOG", 30, "PUT")
   • Looks only at put contracts for Google.
   • Ideal for measuring demand for protective or bearish strategies.

Advanced Scenarios

1. Referencing Cell Values
   Suppose A1 has "MSFT", and B1 has 20. The formula below dynamically calculates the average options volume for Microsoft over 20 days:
   =opt_VolumeOptionsAverage(A1, B1)

2. Strategy Comparisons
   • Compare short-term vs. long-term volume trends by placing different “Days” values in separate cells.
   • For instance, in adjacent cells, use =opt_VolumeOptionsAverage("AAPL", 5) and =opt_VolumeOptionsAverage("AAPL", 30) to contrast short-term vs. monthly average volume.

3. Integration with Other Excel Functions
   • Combine with conditional formatting to highlight unusually high or low volume.
   • Use the result in data visualization charts, pivot tables, or with MarketXLS’s other functions to build a complete trading dashboard.

Common Questions and Troubleshooting

• “My result is ‘Call/Put flag has invalid format. Please check your inputs.’”
  This usually means the OptionType argument is not "CALL", "PUT", or left blank. Verify your spelling or remove the optional parameter if you want the combined average for calls and puts.

• “I keep getting ‘NA’.”
  This can occur if there’s an issue fetching the data. Make sure you’re online, have a valid license, and entered a recognizable ticker. Also ensure your “Days” value is reasonable and the underlying symbol is valid.

• “Data seems incorrect or I see ‘Refreshing.’”
  If MarketXLS is updating data in the background, you might see temporary placeholders. Wait for the refresh to complete or call the function again.

By leveraging opt_VolumeOptionsAverage, you can gather valuable insights into how an underlying’s options are trading over a specific period. Combine this data with other analytics to refine your market strategies and make better, data-driven decisions.