Thread by @RedHotTrade

About a year ago I came up with a beginner-friendly strategy for the @unusual_whales Hot Chains & Tickers page 🐳

Here's an updated thread on #FireFishing 🔥🎣 with recent examples + utilizing the new features UW has to offer 🧵

What is #FireFishing 🔥🎣?

It's a beginner-friendly strategy that utilizes the Hot Chains & Tickers page on @unusual_whales to find the most traded out-of-the-money contracts (cheaper plays) with the most volume/open interest 👀(people trading/holding them)

• Go to "🔥Hot Chains & Tickers"
• Find a ticker with 3 of the hottest chains 🥵
• Expiries must be within 14d ✅
• At least 1 of the chains has a strike OTM ✅

See $AAPL in this pic for reference (closed at $165.81 today)

This works both ways: bullish or bearish.

• 2 OTM Bull Chains + 1 ITM Bull Chain = #bullish
• 2 OTM Bear Chains + 1 ITM Bear Chain = #bearish

With the new features that @snorlax_uw has added it gets even better 🔥

• Click on the contract expiry
• It brings up the contract flow + the ticker flow
• You can click a candle of interest and it will take you to the time in the live flow feed that it came through

Things to look for 👀#FireFishing

• Does the Daily P/C Ratio and historical options volume line up with your bull or bear thesis?
• Are contracts being bought at the bid or ask? (ask shows urgency)
• Has Volume been turning into OI the next trading day? (holding contracts)

Wanna Super Charge your #FireFishing?

Use the @unusual_whales Super Flow Dashboard⚡️

Have your flow feed, flow alerts & hot chains on the same page 🤯

Follow @TheHeatSheet a free newsletter every day Sunday where I'll post #FireFishing pick every issue🔥🎣 getrevue.co/profile/redhot…

Thanks for reading! 🔥

S/O @unusual_whales for being the best options data site out there

Oh & I'll leave this here 🤘