Strike Pegger Help

The Strike Pegger highlights option strikes where open interest is concentrated — the strikes most likely to act as gravity on the underlying into expiration.

How to use it

1. Enter a symbol. Any optionable US equity.
2. Pick an expiration. The default is the next monthly cycle.
3. Read the chart. Bars show total OI at each strike; the tallest bars are the "pegs" the stock is most likely to drift towards.

Tips

• Strike Pegger is most useful within the final two weeks before expiration when dealer hedging activity peaks.
• Combine it with the Volatility Skew tool to confirm directional bias.
• Read the Significance of Open Interest article for theory.