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Unusual Flow

๐Ÿ“ก Unusual Flow

Unusual Flow answers one question across the whole market at once: where is options positioning unusually large right now? Instead of scrolling a per-trade tape, it ranks tickers by how far their options premium has stretched beyond their own normal activity โ€” so a quiet small-cap lighting up registers just as clearly as a mega-cap. Each row condenses the day's flow into a single line: how much qualified, whether it leans calls or puts, whether prints came in as sweeps, and a composite score to sort the noise from the signal.

Unusual options flow โ€” tickers ranked by abnormal premium with call/put bias and sweep detection

What Counts as Unusual#

โ€œUnusualโ€ here is relative, not absolute. A ticker qualifies when its options premium is large compared to its own typical activity โ€” not just large in raw dollars. That framing matters: $2M of premium might be routine for a heavily traded mega-cap but extraordinary for a name that usually trades a fraction of that. Ranking against each ticker's own baseline surfaces genuine standouts instead of a list that is permanently dominated by the most liquid symbols.

The header summarizes the current scan โ€” how many symbols qualified, the number of qualifying hits behind them, and the combined premium those hits represent โ€” giving you a quick read on how active and how concentrated the day's positioning is.

Reading a Row#

Each row packs several signals into one line. From left to right, the columns work together to describe both the size and the character of the flow:

  • Ticker โ€” the symbol, often carrying badges such as ETF, an index/basket tag, or EAR when an earnings event is near. The most active strike and expiration for that name are shown beneath it.
  • Last Hit & Hits โ€” the time of the most recent qualifying print and how many qualifying prints have stacked up so far.
  • ฮฃ Qual โ€” the qualifying premium: the dollar value of the prints that actually met the unusual threshold. This is the figure the ranking leans on.
  • Hourly โ€” a mini bar chart of activity through the session, so you can see whether the flow arrived in one burst or built steadily.
  • ฮฃ All โ€” total premium across the ticker, giving context for how the qualifying slice compares to the day's full options activity.
  • C/P Bias โ€” a horizontal bar showing the call-versus-put split, with the dominant side and its percentage labeled.
  • Aggr & Sweep โ€” the share of flow that crossed aggressively into the offer/bid, and the share that came in as sweeps. More on these below.
  • Spot, Avg DTE & %OTM โ€” the underlying price, the average days-to-expiration of the qualifying activity, and how far out-of-the-money the positioning skews.
  • # K/Exp & Score โ€” how many distinct strike/expiration buckets were involved, and a composite score (covered in its own section) that blends these signals into a single sortable number.

Aggressor, Sweeps and Clusters#

Three flags describe the texture of the flow โ€” the part that hints at intent rather than just size.

  • Aggressor โ€” the percentage of premium that traded aggressively, lifting offers or hitting bids rather than resting passively. A high aggressor share suggests a participant willing to pay up to get filled.
  • Sweep โ€” the share that arrived as sweeps, where an order is split across multiple exchanges to fill quickly. Sweeps are often read as a sign of urgency or conviction.
  • Cluster โ€” a tag, frequently with an ร—N count, that appears when repeated qualifying prints stack up on the same name. Clustering shows the activity is not a single outlier ticket but a recurring pattern building through the session.

The Composite Score#

The Score column rolls the row's signals โ€” qualifying premium relative to the ticker's norm, call/put conviction, aggressor and sweep intensity, clustering, and breadth across strikes and expirations โ€” into a single number you can sort on. It is a ranking aid, a way to float the most distinctive setups to the top of a long list, rather than a measure of how a trade will perform.

Sorting by Score is the fastest way to triage the board, but it rewards reading the underlying columns afterward. Two rows can share a high score for very different reasons โ€” one driven by a single enormous swept print, another by dozens of clustered, one-sided hits โ€” and those tell different stories.

Unusual Flow vs. Live Flow#

Unusual Flow and Live Flow are complementary views of the same activity at two different zoom levels. Unusual Flow is the aggregate โ€” one row per ticker, ranked across the whole market, built to answer โ€œwhat is unusual right now?โ€ Live Flow is the tape โ€” a real-time, trade-by-trade feed showing each print's time, strike, expiry, premium, size, price and sweep/block tags.

A natural workflow is to scan Unusual Flow for a standout name, then drop into Live Flow filtered to that ticker to watch the individual prints build โ€” confirming whether the aggregate score is driven by clean, repeated buying or a messier mix of two-sided activity.

Live options flow tape โ€” real-time trades with premium, size, sweep/block tags and sentiment

A Practical Way to Use It#

  1. Sort by Score to bring the most distinctive setups to the top of the board.
  2. Filter to your universe โ€” use the controls and presets to narrow by the characteristics you care about so the list reflects setups you would actually trade.
  3. Read the texture โ€” check C/P bias, aggressor and sweep share, and whether a cluster tag is present. One-sided, aggressive, clustered flow is a cleaner signal than split, passive activity.
  4. Note the context โ€” average DTE, %OTM, and an EAR badge tell you whether the positioning is short-dated and speculative or longer-term, and whether an earnings catalyst is in play.
  5. Drill down โ€” pull the name's chart and GEX profile, and watch the prints arrive in Live Flow before forming a view.

๐Ÿ”‘ Key Takeaways

  • Unusual Flow ranks tickers by premium that is abnormal relative to each ticker's own norm โ€” not by raw dollar size
  • Qualifying premium (ฮฃ Qual) is the flow that met the unusual threshold and drives the ranking
  • The C/P bias bar shows call-versus-put lean; aggressor and sweep flags describe how the flow printed
  • Cluster tags mark names where repeated qualifying prints stack up through the session
  • The composite Score is a triage and ranking aid, not a buy/sell signal or performance forecast
  • Unusual Flow is the aggregate per-ticker view; Live Flow is the trade-by-trade tape โ€” use them together
  • Always confirm with context: average DTE, %OTM, earnings proximity, the chart and the GEX profile