Introductory Context
"Sensibull is accessible at sensibull.com and is integrated with all major Indian brokers including Zerodha, Upstox, Angel One, and others. The integration means you can analyse a strategy on Sensibull and send the trade directly to your connected broker account for execution without switching platforms. Sensibull offers a free tier with basic option chain access and a paid subscription for advanced analytics. The advanced analytics -- particularly the payoff builder, Greeks panel, and OI analysis -- are the features most relevant to this curriculum's approach. "
Why Sensibull Is Essential for This Curriculum's Approach
Four specific Sensibull features address gaps in every broker's native platform that this curriculum's approach requires. First: the Max Pain calculator. While some broker platforms now display Max Pain, Sensibull's calculation is continuously updated with the latest OI data and displays the Max Pain level with a dynamic visual indicator showing where the current underlying price stands relative to Max Pain. Second: the OI analysis panel, which visualises OI distribution across strikes in a bar chart format that makes the identification of highest-OI support and resistance levels (Topic 7.23) immediate and visually clear without requiring manual scanning of numerical tables.
Third: the payoff diagram builder (Topic 10.6), which shows the P&L profile of any options strategy across the range of possible underlying prices at expiry -- allowing the precise visualisation of maximum profit, maximum loss, break-even points, and the profit zone width for any strategy before commitment. Fourth: the Greeks panel (Topic 10.7), which shows the combined Greeks of a multi-leg options portfolio -- essential for understanding the true delta, theta, gamma, and vega exposure of a spread or iron condor position that cannot be easily calculated by summing individual option Greeks manually.
Sensibull Interface Layout
Sensibull's interface centres on: the Option Chain (the main screen showing all strikes, premiums, and analytics), the Strategy Builder (for constructing and analysing multi-leg positions), the Greeks Dashboard (portfolio-level Greeks for open positions), the OI Analysis panel, and the Market Overview (showing broad market context including PCR, Nifty VIX, and OI changes). Navigation between these sections is through the top menu.
Begin each trading session's OI analysis by opening Sensibull at the Option Chain view for Nifty (selecting the current weekly series -- Tuesday expiry -- and the near-month Bank Nifty monthly series). The Sensibull OI chart overlay at the top of the option chain shows the OI distribution as a horizontal bar chart across strikes, making the highest-OI strikes visually prominent without reading individual numbers. The Max Pain level is shown as a vertical line on the OI chart, providing immediate visual context for where the week's gravitational centre is.
Sensibull's Free vs Paid Features
Sensibull Free: Option chain with OI and basic analytics, Max Pain calculator, limited payoff builder usage, basic strategy library. Sensibull Paid (Sensibull Pro or Sensibull Plus): Full payoff builder with unlimited strategy creation and comparison, real-time Greeks dashboard for open positions, full OI analysis panel with historical OI charts, IV surface and term structure display, strategy P&L simulation across VIX scenarios, and broker integration for direct order placement. For traders following this curriculum's multi-leg strategy approach and requiring the Greeks dashboard for open position monitoring, the paid tier provides features that are not available in the free version.
Using Sensibull for OI-Based Support and Resistance
The most important daily Sensibull use for this curriculum is the Monday morning OI review (Topic 7.23). Open Sensibull's Option Chain for the current Nifty weekly series. At the top of the screen, the OI chart displays the OI distribution as horizontal bars across strikes. The longest call bar (highest call OI) is the week's resistance level. The longest put bar (highest put OI) is the week's support level. The vertical line on the OI chart marks Max Pain.
Record these three numbers in the Monday journal entry (Topic 9.12 daily routine): weekly call OI resistance = X, weekly put OI support = Y, Max Pain = Z. These three numbers are the weekly framework for all options entry and management decisions for the week. Any time you are considering an entry or an exit, check whether the underlying is near one of these three reference levels -- the OI framework adds the institutional positioning dimension to the chart-based technical analysis.
Monday Morning Sensibull OI Protocol
Step 1: Open Sensibull, navigate to Option Chain, select NIFTY, select current week's Tuesday expiry. Step 2: Read the OI chart -- identify the highest call OI strike (weekly resistance) and highest put OI strike (weekly support). Step 3: Note the Max Pain level displayed on the OI chart. Step 4: Switch to the Bank Nifty option chain, select the current monthly expiry (last Tuesday). Repeat Steps 2 and 3 for Bank Nifty monthly levels. Step 5: Record all six numbers in the trading journal: Nifty weekly call OI resistance, put OI support, Max Pain + Bank Nifty monthly call OI resistance, put OI support, Max Pain.
OI Data Refreshes With a Slight Delay on Sensibull Free Tier
On the Sensibull free tier, option chain OI data may refresh with a slight delay (typically five to fifteen minutes) rather than in real-time. For the Monday morning analysis (conducted before market open when the prior session's OI is the relevant reference), the delay is immaterial. For intraday OI monitoring during active sessions -- particularly around the Tuesday Nifty expiry when OI shifts rapidly in the final hours -- the real-time Sensibull Pro data or the NSE website's option chain (which provides real-time OI) may be more appropriate. Use the NSE website for real-time intraday OI monitoring if relying on the free Sensibull tier.
Sensibull's IV Analysis Tools
Sensibull's IV tools complement the VIX-based strategy selection from Topics 8.16 and 9.9. The IV Chart shows the historical trend of Nifty's implied volatility over the past one to twelve months, providing the context that VIX alone does not. The IV Percentile and IV Rank values (displayed for each instrument in Sensibull's option chain header) show where the current IV stands relative to its historical range -- the same metric described for Angel One's platform in Topic 10.4, but available in Sensibull for any instrument regardless of which broker platform is used.
The IV surface chart in Sensibull Pro shows implied volatility across all strikes (the volatility smile or skew) and across all expiries (the term structure). The volatility skew -- where put options typically carry higher IV than call options at the same distance from ATM -- reflects the market's asymmetric fear of downside moves. For options traders, the skew information is useful when comparing the cost of buying OTM puts (for protection or directional bearish positions) versus OTM calls -- a put at 5 percent OTM is typically more expensive than a call at 5 percent OTM due to skew.
Connect Sensibull to Your Broker for One-Click Order Placement
Sensibull allows connecting your broker account (Zerodha, Upstox, Angel One, and others) so that strategies built in the Sensibull payoff builder can be sent directly to the broker for execution. Connect your broker through Sensibull Settings → Broker Integration → select your broker → authorise with your trading credentials. Once connected, any strategy built in Sensibull can be executed with the 'Execute with [Broker]' button, which pushes all legs of the strategy simultaneously to the broker platform for order placement. This integration eliminates the manual leg-by-leg order entry required when using the broker platform directly for multi-leg strategies.