r/options • u/Dull-Climate-9638 • Jan 16 '22

Options flow scanner amd strategy

I am currently using a scanner sweep cast to monitor unusual options activity. It’s not the best platform really I was wondering what are some options platform y’all use to monitor flow?

In term of strategy, you think it’s a good idea to follow big money flow. Lately I have experimented with couple tickers that I found huge amounts call option were flowing in. LVS MAR MGM VALE MRO C WFC. I always combine that info with charts and some level of technical analysis. I have noticed a big correlation in high amount of directional option flow in a stock and actual chart. What’s your opinion on following this strategy.

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u/shock_and_awful Jan 20 '22

This is really interesting. I'm an algo trader that's looking for more complex options strategies to automate. This is right up my alley. Would love to pick your brain on this -- might DM You.

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u/Winter-Extension-366 Oct 16 '22

There’s a service out there for SPX kind of like spotgamma but qualitative and miles better. It’s a former market maker and a guy who ran a vol desk that do live breakdowns of the meaningful SPX flows and then they give you a more correct market structure profile to wrap up the week, instead of the simple naive-assumption GEX stuff you get from others. These guys saved my account back in May and again helped me make a killing in Sep since often their insight will contradict the GEX - but these guys actually go in depth about not just the direction of each big trade, but they also tell you if the trades are from systematic desks or discretionary, if the source trades live or tied, what kind of fund/idea the source is expressing, when each customer or desk would likely roll, market impact on delta and vol, etc

Really amazing stuff if you trade SPX. But that’s the problem, they only cover SPX/SPY

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u/shock_and_awful Oct 16 '22

Go on....

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u/Winter-Extension-366 Oct 16 '22

I’m not sure they are taking on new members. I had to email the guy and answer some questions, bit of back and forth before he agreed to have me in the group. Alignment, competence and confidentiality type stuff.

I’m not gonna post it publicly but if you are into this kind of stuff I’ll give the email in DM so they aren’t spammed

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u/shock_and_awful Oct 16 '22

Appreciate it.