Option Chain Heatmap
Compare strikes and expirations in one grid
What the heatmap shows
The Heatmap tab in Stock Analysis arranges option-chain information by strike and expiration. Instead of reading one contract at a time, you can scan the grid for cells where activity or exposure is concentrated.
Availability: Delta plan and higher.
Open it: Search for a symbol, open Stock Analysis, and choose Heatmap. Use the date selector to load another available trading snapshot.
How to read the grid
- One axis represents strikes.
- The other axis represents expiration dates.
- Color intensity represents the selected measure’s relative magnitude.
- The current underlying price helps orient the strikes around the money.
- Hover or select a cell for its contract context when that interaction is available.
A visually dominant cell means the selected measure is concentrated there. It does not establish whether the position is opening or closing, who holds it, or whether price must move toward that strike.
A practical workflow
- Choose the symbol and trading date.
- Start with the full grid to find broad clusters.
- Compare nearby expirations with longer-dated expirations.
- Note concentrations close to the current stock price.
- Cross-check the same area in Gamma Exposure, Volume Distribution, or Options Flow.
- Use Time Travel to see whether the concentration persisted or moved across sessions.
The heatmap is most useful as a map for deeper research. News, expiration effects, spreads, and hedging can all change the meaning of a concentrated cell.
