The 'joy' module is a chart that displays a given option parameter (such as volume, open interest, etc) for an options chain.
It is a graphic that 'flattens out' a 3D options surface.
The way it works is you select a stock (like AAPL) and a parameter (like open interest, "OI"), and done! You'll have the visualization.
A summary of what you will see is:
- Strikes are represented from left to right on the x-axis
- Each expiration has its own set of lines, they are stacked from top to bottom
- Below the last expiration there is an aggregate of all expirations
- Calls are yellow, puts are blue
The visual can be overwhelming at first due to the vast amount of data it displays - it is designed to give you an entire overview of the options surface with a single glance. However, once we break it down it down it is quite simple.
We will start displaying a chart without additional configurations, and then begin adding configuration to understand its parts and mechanics.
joy AAPL oi