Optionsonar is just a specialized platform that detects unusual trading activity while tracking options trades to gauge the outlook of the options market.
On the platform, options traders can monitor and track activity consistently to follow along with every large order flow across various stocks.
Is this the best platform for options trading opportunities, and how good could it be at tracking unusual options activity?
Our Optionsonar review answers these questions and offers valuable insight to the platform to help you decide if it's right for you.
About Optionsonar
This is a platform that monitors unusual options activity and tracks how traders view industry through options. This could offer you an advantage on the market and increase your chances of creating significant profits in your trades.
It is filled with various tools such as scanners and charts, which aim to place actionable trading information at your fingertips.
However, it is not the lowest priced platform on the market, and that is why you must only do it now if you are prepared to complete a lot of legwork for safe trading based on the data that the service provides.
Optionsonar Review: How Does Optionsonar Work?
Optionsonar provides options traders with an unusual activity scanner to simply help them track any unusual goings-on that affects their stock on Wall Street.
The platform implements dark pool orders and block trades while also providing a multiple options scanner
This permits an options trader to look for new and opening positions where contract volumes tend to be more compared to open interest during the prior trading day.
Their most prominent scanner is employed to track net unusual options activity.
This broaches major ETFs across industry and FAANG stocks, so users get an extensive market overview.
Different versions of this option scanner are available, emphasizing any unusual options activity among option contracts with an expiration date inside a week, month, or even longer.
Data found from the options scanners include:
- Options Prices
- Technical Analysis Sentiment
- Strike Price
- Volatility
The scanners create alerts directly and send push notifications to users looking for more precision regarding options traders.
Additionally, Optionsonar allows users to filter trades whenever you want for more precision.
You can also change the options scanner criteria and adjust your filters on the fly. The tool shows you how many traded options contracts are available.
Optionsonar insights let you check the greatest daily volumes compared and view expiration dates.
And you can choose between out-of-the-money (OTM), in-the-money (ITM), or at-the-market (ATM) options.
Furthermore, Optionsonar offers an order flow screener that uses multiple visualization tools and several adjustable parameters.
You can also play one watchlist to connect options activity to particular stocks.
Optionsonar is arguably the leading options trading service for research. It works as a browser-based platform that gives you an extensive analysis of the options market and provides a detailed summary of significant market moves that outline trading activity involving institutional investors.
Optionsonar Review: Is Optionsonar Good?
As it pertains to tracking unusual options activity, Optionsonar is arguably the most effective platform of its kind.
Optionsonar is not exactly as comprehensive as other outlets for options trading opportunities like Motley Fool, which focuses more on long-term growth opportunities.
Regardless, it's a good source for stock advice and options trades information https://scamrisk.com/optionsonar/.
What Type of Trader Is Optionsonar Best For?
Optionsonar is best for options traders who is able to actually use unusual options activity data to show a profit. The platform stops in short supply of helping you investigate the potential motivations underlying large options orders, so traders will need to do some significant legwork to safely trade based on Optionsonar data.
Optionsonar can be employed for developing longer-term trade ideas as it enables monitoring trading activity by expiration date. But, there are other, cheaper services dedicated to this purpose.
Overall, Optionsonar is a powerful and easy-to-use options scanner that is priced fairly. You are able to try the platform for free and upgrade as needed.
