The Flow menu has a slightly new look. I'd like to briefly touch on what you can expect to see in each section.
Flow: (1) The options flow feed (2) You can see the full range of transactions from any one date of your choosing, as well as filter in/out other variables (3) View the flow charts (4) View the breakdown by expiration and strike charts
Dark flow: (1) The dark pool transaction feed (2) You can hover over the sold/trade codes for more information (3) View the dark pool breakdown charts
Historical flow: (1) The options flow feed for dates you can specify in the filters
(2)(3) The filters and charts work the same way as the regular Flow
Tickers: (1) Birds eye view of general options activity information (2) You can specify a ticker (3) By selecting "$XYZ Flows" you can view historical flow data (4) By selecting "Show Charts" you can view the charts for all activity for ticker XYZ for that whole day
Hot Chains and Tickers: (1) Heatmaps displaying tickers with the size of the bubble relative to the amount of premium traded on the ticker and tickers with the size of the bubble relative to the amount of premium traded on that specific chain (2) Additional volume/premium metrics
Sector Flow (1) Volume and premium metrics specific to sector (2) Select a sector to see the flow for applicable tickers
Emoji Flow (3) Daily emoji flow (4) Use the module to view more or less information
Major Flow Whales: (1) A beluga whale feed
Halts and IPOs: (2) Live Halt and IPO tracker
& lastly:
Group spreads, straddle, sweeps, blocks, and option strategies (1) Beta view for Flow (2) Options strategies identified for you
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$AMD 195c 4/19
For those that like keeping track of the whales: $AMD trader(s) from Feb 29th are most likely all out of their position(s) as of today's trading session. This is a conclusion you can come to just from this image alone. Here's what I'm thinking: 🧵
My pinned tweet asks some questions that are relevant here. I won't hit on each one through this process but feel free to follow along. The UI will be slightly different but the concepts remain the same.
First let's look at what the opening flow looked like.
All that volume (far exceeding OI), followed by an increase in open interest the next day. Unclear exactly how many whales we're tracking but it's not relevant. Just focus on the fact that we're dealing with large volume. With some rounding the 4 large candles amount to about 11,000 volume. (Fact: a trade transacted at the ask is not necessarily a buy, nor is a trade transacted at the bid necessarily a sell. This may be contrary to what you think you know or have been taught.) With that in mind: from here on out we're looking to track around 11,000 contracts.
2) You'd like to see more activity towards either the bid or the ask, that way you know 'which way the flow is going' for that contract 4) You need to know if the contract activity is attached to multileg trades because that can change the sentiment (continued)
4 cont) If you see 1000 calls at the ask you'd think it was bullish. But if those 1000 calls are a part of a multileg trade you must take pause. Are they part of a call credit spread (🐻)? A debit spread (🐂)? Something else? Multil % isn't bad but a higher value requires more DD
5) Notional value is an arbitrary value of sorts. You just want to know that there's some actual $$ being moved. Not to say that smaller flow can't work, but (generally) you want to see at least a few hundred K at work at a minimum.
Any 2 or more of these strategies can be combined in order to create a more complex strategy. For example a long call and a short call be used in conjunction to create both a (1) bullish call debit spread or a (2) bearish call credit spread.
A call and put can both be longed or shorted in a variety of different ways to create strategies of varying sentiment. Shorting a call and longing a put would result in a (1) bearish synthetic short while shorting a put and longing a call would create a (2) bullish risk reversal.