Alert on sudden change in OI on ATM strike

F&O
1

Hi, is there a way to get alert on a sudden change in OI.
I was looking at Friday charts and could see sudden drop of OI in Puts (~33% drop in a matter of 1 min) around 10:30AM and then sudden increase in OI in Calls.

Is there a way to get alerts on these sudden changes in OI. What are the ways to be able to setup a system which can trigger these alerts.

2

OI Pulse

3

how do you use the changes/spikes in OI to guage the market sentiment and the strategy to be deployed? What is the logic behind this? Please post it here

4

This is mostly large people doing buy trades on the day of expiry, which can typically tell where the markets will move in next hour or so. Though this happens mostly on expiry days and percentage and absolute both are important to change in short span on time suggesting some big players with lot of money are taking positions.