Monitoring unusal volume spikes

Discussion in 'Options' started by Comptalk, Feb 14, 2008.

  1. Is there a software available which can monitor and alert me of unsually high option spikes across the market? Currently, I use trade station if that helps.
  2. I don't know how you can do this in USA, but in Russia our trade station have a built-in programming language with that i can monitoring all that i want. So, if you station can export the data to EXCEL you can process there..
  3. I thought Dr. J or one of those option gurus had a scanner for high volume activitiy in option strikes. I do not remember where I read that but the strategy was to look for sudden huge increases in volume or OI in a particular stock's options.
  4. markg_ny


    This information is closer than you think.
    If you are reading this message, look at top menu of ET in our browser.
    Can you see ‘options analysis’.
    Looks like information there is courtesy of IB.
    Information/data in tables are OK but I find reading the commentary below tables more useful.

    Also, yahoo on it finance/options page has some useful tools/scanners:

    I use daily few sites (some are useful for getting historical and daily data).
    You could found a lot of them (known names for options traders) with search engine:
    with searching for:
    option volume analysis
    option historical open interest, etc.

    I had very bed experience with ‘monthly fee’ options site (I mentioned it once in ET) so I would always discourage everyone from ‘monthly fee’ type sites since most options brokers have some tools for free if you have account with them.
  5. Yea, that is what I was looking for. I thought there would be a way or script for me to do this within tradestation.
  6. If your scanner spits out out that the XYZ march 50 put has had a large spike in volume and open interest, what would you do with that info?
  7. Trade XYZ March 50 puts, of course. :p
  8. So nothing available heh? Trying TS radar. Not what I really wanted though.