Thread by @RedHotTrade

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@unusual_whales Intraday Options Volume🐋

How to use it for scalping options on any ticker ⬇️

@unusual_whales For transparency: I'm an @unusual_whales affiliate

I used his services way before I became a partner & the team just keeps adding more amazing tools for retail traders.

If you want to sign up, do me a favor and use code "REDHOT" for 5% off. I get some $ and so do you✌️

To find the Intraday Options Volume tab:
• Go to unusualwhales.com
• Navigation (left-hand side)
• Intraday analyst
• Type any ticker in the search bar at the top
• Scroll down for the intraday options volume tab

What it does:
• Intraday options volume data will come in 10-minute intervals 🕐
• Every 10 minutes you can compare the candle volume and P/C ratio for any ticker 🔥
• Underlying price is overlayed on the options volume chart 📈

How you can use it for scalping options:

Using $SPY as an example:

• 11:30AM EST $SPY 10min candle volume went from 239.98K ➡️393.75K
• P/C Ratio dropped from 1.303 ➡️ 1.17
• Volume increased 📈
• Puts decreased 📉
= #bullish

In the next 20 minutes, $SPY went +$4

Bearish set-up example:

Using $SPY again from today

• 3:10PM EST $SPY 10-minute candle volume was 154.59K & P/C Ratio: 1.045
• 3:20PM EST $SPY 10-minute candle volume was 201.19K & P/C Ratio: 1.418
• 3:30PM EST $SPY 10-minute candle volume was 260.9K & P/C Ratio: 1.5

Breaking down above ⬆️

• $SPY candle volume had a +68.77% increase in 30 minutes
• P/C Ratio had a +43.5% increase
• Increased volume 📈
• Puts increased 📈
#bearish

$SPY proceeded to fall -$6 in the next 10 minutes

Monitor these changes, and react.

That's it for the thread! ✌️

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Thank you to @unusual_whales & the team for constantly improving the site @snorlax_uw @FNStonerman 🐳