The thinkorswim Option Flow Sentiment indicator helps you track the option flow for any ticker selected by the user and features:
- User selectable, independent in-the-money (ITM) and out-of-the-money (OTM) strike windows. This feature permits tracking option flows assymetrically across the option chain;
- The ability to select how many monthly tenors (option expiries) you wish to include in the calculation;
- The study works with any company stock ($AMZN, $APPL, $GOOG, $TSLA, $MSFT);
- Works on any equity index ($SPY, $QQQ, $IWM, $DIA);
- Works on ($SPX, $NDX) but does not currently support options for futures contracts (/ES or /NQ).
The thinkorswim Option Flow Sentiment indicator makes naïve assumptions about the bearishness or bullishness of in-the-money (ITM) and out-of-the-money (OTM) trades across both calls and puts. These assumptions stem from the commonly traditional positioning of counter-parties (market makers). The study creates a metric based on this premise and helps track bullish or bearish option trades. The study shines most during periods of high volatility. You can open two or more studies at once and compare the retail accessible products, like $SPY, against indexes like $SPX to track what larger pools of money are doing.
A download link will be provided upon purchase. A how-to usage guide is included in the purchase.
The information contained therein, or inferred from the product therein, are not intended as, and shall
not be construed or understood to be financial advise or any promise of success, profit or guarantee of
such. The creator of this product is neither a financial advisor, attorney or an accountant, or holding out to
be, and the information contained therein or inferred from the product therein is not, and should not be
seen or interpreted to be financial advise of any kind. The creator of this product is absolutely no aware
of your individual circumstances and making any guarantee, implied or not, of any performance result:
positive or negative. The creator has attempted, to the best of his ability, to generate a useful product for
those interested in engaging in trading of the underlying securities mentioned therein. Nothing contained
herein should be viewed as a substitute to professional financial advise fit for your situation and your
individual circumstances. In addition to this, the purchase of the materials implies that you agree that any reproduction, resale,
reuse or usage not otherwise permitted by the owner is strictly prohibited.