Underlying price at execution What are Sweeps?Īn options sweep is a market order split across all exchanges to take advantage of the best prices for a given option contract on each individual exchange.The Intrinio unusual options activity endpoint provides the following data for each unusual trade: Plus if you happen to miss some trades in real-time don’t worry, since we have intraday and end-of-day endpoints available to ensure this data is always at your fingertips. Or, if you want to subscribe to the entire universe of securities we have a feed for that too. To retrieve unusual options data, you simply provide the ticker symbol for the underlying security you are interested in (for example, Microsoft - MSFT) and retrieve all unusual activity for that security on that day. You can track unusual options activity via our Web API and our unusual activity endpoint. Not all financial data providers offer options data, and even fewer offer unusual stock options activity. How Do You Find Unusual Options activity? Flagging this significant options activity to incorporate into your daily trading models is exactly the kind of data made available through our options data packages here at Intrinio. However, what you can do is scan the option’s market for unusual activity such as a purchase of $200K worth of out-of-the-money puts on Netflix. Yet, you don’t know this investor, you can’t call him up or knock on his door and ask for his insights. If the information they have been diving into isn’t part of the mainstream news or analyst price targets (or as the case with Netflix, just not taken seriously enough by the Street) then it hasn’t been baked into the price of the stock yet and such asymmetrical information can be helpful to know before it is released in the latest earnings call. Well, this investor may then use this information to take a bearish position in Netflix by purchasing numerous put contracts or writing tons of call contracts that they are confident will go unfilled by expiration. Imagine an investor has done an inordinate amount of research on Netflix and predicts that the company will face significant headwinds in the future, such as subscriptions suddenly decreasing as competition from other streaming platforms creeps into play, crazy stuff to imagine occurring for such a streaming juggernaut. To highlight this point, let’s talk through an example. This is because the options market focuses solely on the future performance of a stock and as such, out of the ordinary behavior can provide highly valuable and highly profitable signals when leveraged correctly. Whether you're a money manager, a fintech education platform, or just an individual investor looking for an edge, incorporating unusual options data into your investment strategy can be a helpful factor to drive alpha. This irregular, or unusual as it is often denoted, options activity can be useful as a predictive tool to determine upcoming stock price moves for a particular underlying symbol. To state the obvious, unusual options activity encompasses all of the out of the ordinary trades that occur during the daily option’s order flow.
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