Our reporting of call volume is the total number of calls which traded the day before (yesterday or the prior market day). This can be compared with put volume to assess the relative market sentiment/demand for calls. Higher call volume (more calls being traded) can often indicate a bullish tone of the market.

Call volume is visible each day in the Founder’s notes, and it is one of the many sortable columns in the History tab of the Equity Hub™.

Intermediate: Unusual Call Options Volume

Arguably, call volume is more interesting when there is a high(er) ratio of call volume to call open interest (the total number of open calls). When this happens, it is commonly known as “unusual [call] option volume”. But regardless of the true implications of that, we can objectively say that unusual volume indicates higher levels of daytrading–since it means many trades are opening and closing on the same day.