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Market and options analytics

The market moves on options.See it as it happens.

Live options flow, dealer positioning and volatility for 5,000+ stocks, in one terminal you drive by command.

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$99.99/month · cancel any time

Illustration: options volume by strike and expiration
traders since 2020
1,400+
OPRA option trade
Every
stocks
5,000+
options parameters
100+

Dealer positioning

Dealers have to hedge.See where they'll push price.

When dealers hedge their options, their orders push on price. The Terminal estimates where, how hard and on which dates, before the open and as the session moves.

map spx
nownext close
  • selling pressure
  • buying pressure
  • path of least resistance
Illustration: a dealer hedging map. Not market data.
map
The hedging map: support, resistance and the path of least resistance, at the open and intraday.
dx
A 30-day surface of estimated dealer delta and gamma: how large the hedging flows can be, and on which dates.
stks
Gamma, vanna and charm by strike, live: the strikes that may act as support and resistance.

Options flow

Every option trade.Who's paying, and where.

The Terminal reads every option trade and marks which side was the aggressor, the buyer or the seller. Then it adds them up, so you can go from one print to the whole market.

tas
  • INTCCSELL
  • AAPLPBUY
  • INTCCBUY
  • NVDACSELL
  • NVDACBUY
  • AAPLCBUY
  • NVDAPBUY
  • NVDAPBUY
  • NVDAPBUY
  • AMZNCBUY
  • AAPLCBUY
  • INTCPBUY
  • NVDACSELL
  • SOFICBUY
  • TSLACSELL
  • NVDAPBUY
  • TSLAPBUY
  • PLTRPBUY
  • INTCCSELL
  • AAPLPBUY
  • INTCCBUY
  • NVDACSELL
  • NVDACBUY
  • AAPLCBUY
  • NVDAPBUY
  • NVDAPBUY
  • NVDAPBUY
  • AMZNCBUY
  • AAPLCBUY
  • INTCPBUY
  • NVDACSELL
  • SOFICBUY
  • TSLACSELL
  • NVDAPBUY
  • TSLAPBUY
  • PLTRPBUY
added up, stock by stock
flow orderby=volm_call_buy
  1. 1NVDA
  2. 2TSLA
  3. 3AAPL
  4. 4AMD
  5. 5PLTR
  6. 6AMZN
Illustration: single option trades, added up into a ranking of stocks. Not market data.
tas
Time and sales: every single option trade, with size, price, bid and ask, and the aggressor side.
flow
A live stock scanner with 100+ options-based parameters. Rank the market by call buying, put buying or premium.
flowchart
Intraday call and put buying and selling, charted tick by tick.
opt
An options scanner: find contracts with 100+ parameters and filters.
What should I trade today?

Volatility

Know what you're paying.Before you pay it.

Implied volatility is the price of an option. See whether it is high or low against its own history, expiration by expiration, before you place the trade, so that volatility does not work against you.

terms spy
nearest expirationfarthest
  • today
  • yesterday
  • historical watermarks
Illustration: an implied volatility term structure. Not market data.
terms
The IV term structure, with yesterday's curve and the historical watermarks.
skew
The skew term structure: whether calls or puts are more expensive, for every expiration.
olay
Options parameters by expiration as live lines: watch implied volatility move.
grid
The option chain as a heatmap: fixed-strike volatility, volume, greeks, exposure, open interest.

Expectations

What the market expects.In probabilities, not opinions.

Option prices carry the odds the market is giving. The Terminal turns them into the expected move and the ranges where a stock is expected to close, and shows the dates that can move it.

ip spx exp=1-5
todayCPIearningsFOMC
  • 50% range
  • 70% range
  • forward price
Illustration: implied probability ranges by expiration. Not market data.
ip
Implied probabilities from option prices: the expected move, and the 50% and 70% ranges for each expiration.
earncal
The earnings calendar: when the stocks you follow report.
econcal
The economic calendar: FOMC, CPI, NFP and the other macro release dates.

One workspace

Any view.One command.

The Terminal works like a browser built for markets. Every view is a module in a pane, and every pane has a command bar, the way a browser has a URL bar. Type a command and the pane becomes that view.

Layout1Layout2+
map spx
flow
  1. 1NVDA
  2. 2TSLA
  3. 3AAPL
  4. 4AMD
terms spy
Illustration: a workspace of split panes, a command typed into each. Not market data.
Commands
The first word is the module. The rest configures it. Copy a command and you have copied the view.
Or the control panel
Rather click? Every module has a control panel that does the same. There is nothing to memorize.
Panes and tabs
Split the window into as many panes as your screen allows, and keep each dashboard in a tab.
Save and share
Save your workspaces, share them, and clone the ones other traders have shared.
Web and desktop
Every module opens in your browser. The desktop app, for Mac and Windows, puts them side by side.

The Terminal

$99.99 a month.Every module included.

Get the Terminal

Cancel any time. Or $949 a year.