Unusual option activity

Discussion in 'Options' started by sofiaamelia, Jan 5, 2012.

  1. hi, any1 knows of any software where it will alert you of unusual option activity?
  2. smile


    On the top of the Elitetrader page is a tab Options Analysis... click on it and it will give you good info on unusual options activity
  3. hi smile. thanks for the reply. im looking for something live :) seriously i dont mind paying if they can provide block trade and indicating is buying or selling.
  4. silahian


    Hi, I'm working in a good piece of software, that it scans every hour all option chains looking for unusual volume...
    After that, it look carefully if that unusual activity is part of an strategy or not... and if is it a sell or buy...
    So far is working perfectly well... I've been testing it for two months having a +30% /month

    It needs a lot of testing yet... i will let you know when I'm 100% confident about this.
  5. Livevol Pro for about $100/month shows all major option block trades as they are executed.

  6. ThinkOrSwim has a feature called "Sizzle Index". It looks for unusual option volume compared to the last week or so. I think it is also available in the "free/papertrade" version in case you don't have an account with them.

  7. silahian


    So, I've been working on unusual option activities for quite while now... and I can say that "they wont tell you anything!!"
    Even if you know that certain block has been bought or sold, you CAN'T make any assumptions.

    So, stay away from this kind of analysis, or from those gurus on twitter that claim to have the ability to predict this kind of trades.

    Just saying...

  8. ++
  9. I built a similar system. First day it informed me to buy a call on a drug stock. That evening it got a drug approved and the stock was up 20percent and I got an inquiry from the SEC. It never made money after that.

    By itself it doesn't work. But as part of larger research it can be helpful.

    Trade alerts offers really good options volume analysis. I thimk it's about 500/month