Hello Everyone, and welcome to yet another software update. In this release, we are very proud to introduce our brand new Unusual Options tracking sidebar widget. Details after the jump!
Unusual Options trades are typically large options trades that have certain properties that imply they are a large directional bet by a large money player in the markets. Many traders keep an eye on such trades because they imply that institutional investors are betting on a price move in one or the other direction. In this update, we are very excited to introduce a new and powerful way to keep track of large directional options trades within the TrendSpider platform.
How do I add Unusual Options to my TrendSpider screen?
- Click on the “Sidebar” button on the top right corner of TrendSpider.
- Edit your Sidebar
- Add the Unusual Options widget
- Click Done to save the addition
What plans are Unusual Options features available on in TrendSpider?
ALL of them. Unusual Options is now a standard feature on all TrendSpider plans.
What kind of Unusual Options trades does TrendSpider track and display?
TrendSpider currently tracks two types of Unusual Options trades:
- Options Sweeps
A “Sweep” is defined as a series of trades that hit the tape within 250 milliseconds of each other where at least 75% of the trades are at the bid or the ask, and the total premium paid for the contracts exceeds $20,000. This implies that a large trader is attempting to enter a trade aggressively, but is also attempting to keep the size of the transaction private by splitting it up into multiple transactions.
- Block Trades
A “Block” is defined as a single trade over $20,000 in premium that occurred at the bid or the ask for that particular contract. This implies a large trader is looking to open a position at any cost (aggressive).
How do I use Unusual Options in TrendSpider?
This video will show you how to install and access the Unusual Options data in TrendSpider’s sidebar widgets.
What’s next for Unusual Options in TrendSpider?
This is the first release of Unusual Options in TrendSpider but certainly not the last. In the next few weeks, we will be adding the ability to use Unusual Options in the Market Scanner, Smart Checklists, and Multi-Factor Alerts features of TrendSpider. Stay tuned, a lot more to come soon!