StockFetcher Forums · Filter Exchange · That's OptionsHouse "hotlist" isn't worth sh*++<< >>Post Follow-up
6,396 posts
msg #88651
Ignore karennma
2/24/2010 12:50:52 PM

The "hotlist" gives you option volume, and the daily change.
STEC is on the list. Under "daily change" it says, "-3.32".
HOW does that help me???
Totally useless!

6,396 posts
msg #88652
Ignore karennma
2/24/2010 12:57:40 PM

What you need is a scrolling ticker of what options are being BOUGHT and SOLD.
A list that has call or put volumes is USELESS, unless it specifies bought or sold.
We've had this conversation before, so I know I'm preaching to the choir here.
But it just pisses me off that these websites want you to PAY for "data" that any dumb bunny has access to.
If a website has a list of "unusual trading activity" , and it says call volume up 100%, that could mean EITHER calls SOLD OR BOUGHT. Obviously if the call volume SOLD is up 100%, you don't want to take a long position.
I'm so sick of these websites not giving you EXACTLY what you need to know.
Straken's info. was very VALUABLE yesterday ... someone BOUGHT 6,000 STEC puts before the close.
Now, THAT'S USEFUL information.

439 posts
msg #88654
Ignore petrolpeter
2/24/2010 1:10:48 PM

Lil off topic for Filter Exchange prolly

6,396 posts
msg #88655
Ignore karennma
2/24/2010 1:23:56 PM

This is where M4M posts re: OptionsHouse.

Frankly, I see no point in anyone wasting their time and money opening an acc't at OptionsHouse, only to be disappointed when they find out, they're getting the same thing every other broker gives them ... DATA!
Nothingelse special.

439 posts
msg #88659
Ignore petrolpeter
2/24/2010 1:43:47 PM

Fetcher[parabolic SAR is below close and close is below close 1 day ago and add to symlist(STEC) and date offset 01/14/2010]

1 posts
msg #89278
Ignore shannonpaul
3/8/2010 5:46:08 PM


Hi there -- I work for PEAK6 Online, the parent company of OptionsHouse. I'm sorry you're frustrated by the OptionsHouse Hot List, but I wanted to pass along some information on how you might find more value in this feature of our trading platform. Believe it or not, the Hot List is not just options volume data. If it were, the same names would almost always be on top of the list: SPY, QQQQ, C, GE, AAPL, etc.

What the Hot List does is highlight above average volume. We keep track of the average volume of all stocks and measure the percentage of that volume when someone brings up the Hot List. This way you can see where unusual options activity is. Each stock price move is then right next to the symbol to show customers if there is a big move associated with THE volume. From there, you can just click on the symbol and the Options Chain will populate and it is easy to see where the volume is.

Within the chain, you can get an idea of what the trade was by looking at the change in options price. For example, if there was huge volume in a call, and the stock was up $.75, but the call price on the day was unchanged, it's most likely because a customer sold calls. Intuitively, if the stock price is up, you might also expect the call price to be up. If it is unchanged with a lot of volume, there is a good chance it is because there were sellers.

That said, I think you have a good point: by giving customers an overall view by name with the Hot List, we are not dissecting each print as you stated you would like to see. I will pass along your suggestion to others on the team and see about integrating this type of feature into our trading platform in the near future. However, please keep in mind, many of the tools out there now with this functionality are less than reliable because this information is a difficult thing to capture with a technology solution. Unless you get the actual call from the broker with the order, all may not be what it seems.

For example, an "expert" might see the print in the same strike and claim there was a straddle sold, but in reality the customer might have bought a synthetic (bought call/sold put in same strike and month), which has a completely different P&L profile. I'm sure you and others here can think of past examples where volatility appeared to be very high on the surface, but other factors and outside events might be putting a sort of false pressure on those numbers.

Thanks again for the feature suggestion -- I will definitely pass along your needs to others on our team. In the mean time, I hope this helps you get more use and value out of the OptionsHouse Hot List. If you have any other questions or concerns, please feel free to reach out directly and I will connect you with someone who can help.My email address is spaul[at]peak6[dot]com.


Shannon Paul
Community Manager
PEAK6 Online, parent company of OptionsHouse
Options involve risk. Please read Characteristics and Risks of Standardized Options.

2 posts
msg #89286
Ignore optionsizzle
3/8/2010 9:47:04 PM

Hello karenma:

I understand what you are saying, I am the owner of that provides trading ideas and alerts on stocks seeing unusual option activity. I actually have my own system of scanning and getting alerts for option activity. Unusual activity is what the user defines unusual. So if a user says total volume exceeding the last 60 days or what every you look for. Getting a system can cost a bit, because I get data directly of the floors of the exchange's.

I would say unless you can look at the time as sales of the order flow, look at a 1 minute chart of the option and on a platform like Thinkorswim, thy have a theoretical moving average. Knowing if the order hit the offer or bid and the size will help with the puzzle, but will never tell you exactly what the trader is doing. Also look at the chart and ask yourself, what would I do here. If you interested I post a few names during the day on stocks with unusual option activity on twitter @optionsizzle

Let me know if you have more questions,


469 posts
msg #89288
Ignore straken
3/8/2010 10:36:19 PM

optionsizzle 3/8/2010 9:47:04 PM
If you dont mind me asking what platform are you using and who is your RT data provider?
Just wondering if your running QSG or SPSS or TiTAN Analytics.

6,396 posts
msg #89290
Ignore karennma
3/8/2010 10:49:26 PM

Dear Shannon and Josh:
I appreciate your responses.
My ideal options scanner would simply give me the followiing "data":
Highest volume (above normal) contracts traded on the bid.
Highest volume (above normal) contracts traded on the ask.
It would be a minute by minute (or second by second) scrolling color-coded ticker for ALL stocks.
Such a ticker might've displayed RIMM last nite at the close as follows:
B1000 Mar calls @ $++
B 6000 Apr calls @ $++
S6000 Mar puts @ $++
S10,000 Mar put @ $++
B500 Jun puts @ $++
B100 Sep puts @ $++
B800 Mar calls @ $+++
S 1000 Mar puts @ $++++

The imbalance would've been an "indication" re: RIMM this morning.
Several months ago, another website I was using stated "unusual call activity" for AIG.
I bought AIG calls right before earnings. ... not realizing the "unusual call activity" was calls SOLD.
AIG went down like a ton of bricks.
So did my account.
Unfortunately, I learn by DOING.
It was an expensive "lesson".

Thanks again for your concern and feedback.
Oh! By the way .... remember MDVN last week (3-03-10)??
Someone on this board brought it to my attention (straken).
Apparently, someone BOUGHT 16,000 Apr Puts on 3-02, fifteen minutes before the close.
From what I understand, he also SOLD 9,000 calls the day BEFORE the stock dropped 65%.
Now, if THAT information showed up on a scrolling ticker, it would be helpful.

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