As promised, here is a thread on how I use @unusual_whales to help me find actionable plays.
Please note that these are TOOLS, they are not a magic perfect tool for you to get rich quick. There will be winners, there will be losers. @snorlax_support
1. The Live Flow
I use this tool by far the most. Here is where I identify all of the big moving transactions happening in the market. I generally look for Strikes that are OTM and are weekly or bi-weekly expirations, this shows urgency.
Minimum Premium - For me, I set my minimum premium at $200,000
Emoji's - All selected besides Bid Side, ETF, Monthly, and Leaps.
EXPIRY - Nearest 4-5 Dates
Ask Side - ON
Bid Side - OFF
Exclude Deep ITM - ON
I use this tool at night to prep for the following day. I scan through it watching for anything that pops out at me, when it does I immediately check that tickers flow (more on that next). If I see things jumping out at me that skews the stock bull/bear with strength, I chart.
2. Ticker Flow
I start by looking at the 1K, 5K, 15K, and 30K to get a good feel for the volume for each expiry and strike price. I then go to the history to look at the options breakdown for each day. I mainly focus on Call Prem %, anything over 65%
EX. $MU
3. Charting
This isn't a lesson on TA, but when I'm charting im looking for Supply/Demand zones, Trend lines, Candlestick patterns - various time frames, and support/resistance levels (Yes, these are different from Supply/Demand) that are confluent with what im seeing from flow
4. Social Media / News -
After all this is done I go through Social media (mainly twitter) as well as various news outlets looking for things that can give me any indication on whether the ticker i'm looking at is trending / has any reason to be moving quickly near term.
5. Thesis
Once all this is done, I take all the information i've gathered and put together a thesis for my trade. I plan it in great detail and I NEVER deviate from the plan (very important). This outlines areas to enter and exit as well as when to scale in / out.
I hope this helps everyone who was asking me to do this!
A thread on how you can use @unusual_whales to find opportunistic day-trades
Example: $SDC
*Disclaimer: This will not always work, but if you find an edge and capitalize, you'll win more often than not* @snorlax_support
1. Options Alerts
I start by going over the options alert page and looking for things that catch my eye. Some specifics I like personally would be:
- OTM strikes
- Volume > OI
- 1-2 week Expiry
- IV normally under 100 (This example is an exception)
Take a look at this $SDC alert
2. Historical Flow - $SDC
I head over to the historical flow of the ticker and analyze the table. Here I primarily look for 2 things (my preference you can disagree)
- Call v Put volume / Call Vol %
- Call Premium %
As you can see, this table was heavily bullish
Real talk for a second. So much of my motivation for the market stems from the desire to give back. All my life I’ve wanted to be able to change lives and help people take some weight off their shoulders. I’m not big on buying lambos and wearing Rolex’s, no hate to those who are
I’ve just always wanted to be able to have a nice meal and tip my waiter 5k. That connection with that person, that moment, is worth way more than anything you can buy. I pray I get to that point, it’s why I bust my ass trying to master this brutal game.
One day you’ll see me posting a photo on here surprising a family in need with a check for $20k. Mark my words. Won’t stop till it happens. Now just gotta get to the point where I take this full-time. It’s time to grind.