At some point in time, could the OVI go live so that an intra-day OVI would be possible?
The OVI is derived from, amongst other things, options volume, open interest and implied volatility.
The OI component can only be updated at end-of-day, so unfortunately the OVI cannot be intra-day.
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Can the OVI be used for intraday trading?
You can use the OVI’s end-of-day readings to enhance your intraday trading, but we don’t tend to focus on intraday trading in our learning materials.
If there are no stars/low number of stars for a stock, then how can there be statistical integrity behind the OVI indicator?
No stars simply means the stock is not in the S&P 500. Low stars simply means that in a more recent segment of time, that the stock price has not correlated with its own OVI as well as other stocks have performed in the same time period. It is a ...
What is the OVI?
The OVI is Guy's proprietary trading indicator. It’s a unique tool that you won’t find anywhere else. The letters OVI actually stand for ‘Options Volatility Index’, and the technology itself relies on complex algorithms and billions of data ...
When Guy does the weekly watchlist, how come he doesn’t mention the OVI correlation to that stock?
Guy's main emphasis on his weekly reviews is the quality of setup and showing members the difference between the good, bad, or ugly. Regarding the OVI correlation star ratings, when one looks at a stock like Apple (a regular 5 star stock over the ...
If a stock is a 1 star, does that mean that the OVI correlates with the stock 20% of the time, and if its’ 2 star, it correlates 40% of the time etc?
The stars are relative to each other, and only apply to the constituent stocks of the SP500. 5* means that for the latest period under examination (and the periods are not short term) a particular stock is in the top quantile of stocks that correlate ...