Calculate Total Option Volume for Any Underlying

The opt_TotalVolumeOptions function in MarketXLS helps you quickly retrieve the total volume of traded options for a specified underlying symbol. Whether you're analyzing overall market liquidity, comparing Call vs. Put activity, or diving deep into specific expiration dates and strike ranges, this function streamlines your workflow by delivering essential data directly inside your Excel spreadsheet.

Why Use This Function?

• Get up-to-date total option volume without leaving Excel.
• Filter by Call or Put types to focus on specific option strategies.
• Narrow down your search to specific expiration dates for time-sensitive insights.
• Further refine data to a single strike price (or a floating strike range tied to the current price) for advanced analysis.
• Ideal for traders, analysts, or individual investors who want to assess market sentiment and liquidity in real time.

How to Use in Excel

=opt_TotalVolumeOptions(Underlying, [OptionType], [ExpirationDate], [Strike])

1. Enter the formula directly into any Excel cell.
2. Replace Underlying with your target ticker symbol (e.g., "AAPL").
3. (Optional) Set OptionType to either "CALL" or "PUT". If left blank or invalid, the function will treat it as "0" (all option types).
4. (Optional) Provide ExpirationDate in a recognized date format (e.g., "12/15/2023"). If omitted or invalid, the function uses all available expirations.
5. (Optional) Specify Strike as either a fixed value (e.g., "170") or a fraction less than 1 (e.g., "0.05") to filter relative to the underlying's current price.

Once the function is entered, MarketXLS retrieves the relevant data from its servers and returns the total volume of options matching your criteria.

Parameters Explained

Example Usage

Basic Examples

1. Retrieve total option volume for all strikes and expirations:
   =opt_TotalVolumeOptions("AAPL")

   This returns the sum of all option contracts (both Call and Put) for Apple.

2. Retrieve only Call option volume for the same underlying:
   =opt_TotalVolumeOptions("AAPL", "Call")

   This filters out Put options and returns Calls only.

3. Get Put volume for a specific expiration date:
   =opt_TotalVolumeOptions("TSLA", "Put", "12/15/2023")

   Ideal for targeting a particular time frame of interest.

Advanced Scenarios

1. Comparing volume near a specific strike:
   =opt_TotalVolumeOptions("AAPL", "Call", "12/15/2023", "170")

   This narrows results to Calls expiring on December 15, 2023, exactly at a 170 strike.

2. Using a fractional strike to analyze a ±5% range around current price:
   =opt_TotalVolumeOptions("AMZN", "", "", "0.05")

   If you pass a value less than 1 for Strike (like 0.05), the function calculates ±5% of the underlying’s current trading price and sums volume for strikes in that range. This is particularly useful if you want to capture nearby option volume without specifying an exact strike.

3. Filtering an index option on expiration:
   =opt_TotalVolumeOptions("^SPX", "Call", "12/15/2023")

   Handy for studying overall market moves or volatility at a key options-expiration date.

Common Questions and Troubleshooting

• "I get 'NA' in the cell. Why?"
  • Check if the underlying symbol is valid.
  • Ensure you have an active MarketXLS license.
  • Make sure your OptionType is spelled correctly ("CALL" or "PUT").

• "The function returns a strange result or 0. Did I do something wrong?"
  • Verify your ExpirationDate is in a valid format (e.g., "MM/DD/YYYY" typed directly into the cell before applying).
  • If using a floating Strike (e.g., 0.05), confirm the underlying symbol has a last price reference.

• "How do I handle indices like ^SPX?"
  • Just type "^SPX", "^NDX", or "^VIX" directly. The function automatically adjusts the symbol name for processing.

This function empowers Excel users to carry out quick, in-depth options volume analysis without pivoting between multiple data sources. By filtering on OptionType, ExpirationDate, and Strike in a single formula, traders and analysts can tailor queries to their exact scenario—from broad market checks to pinpointed options data.