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Option Flow Screeners

Flow Overview

Flow Screeners are also called "Prints", these are screeners that look at the actual options trades and then count a bunch of things in real time.

These screeners are useful for you to see which strikes traders are loading up on or selling and determine what kind of impact that is having on the stocks that you care about. I've always found it best to keep it simple with Flow and not let it give you too much confirmation bias.

Also keep in mind that these are real life trades. There appears to be a lot of information, but there is still more information that is unknown, so this is still a case of a-symmetric information (ant not in your favor).

For example, we don't know the intent of any traders, investors, funds, or other institutions involved in the trade. We don't know their cost basis or why they took the trade. We don't know what the rest of their portfolio looks like. We don't know if this is the whole position, if they're adding to a position or liquidating a position and if liquidating, how much of their position is left.

Regarding Percent Bid and Percent Ask: It is very important for the trader to keep this in perspective and also check what the bid-ask spread is for the particular option. It could very well be that the bid-ask spread is < .05. In which case (due to options pricing) it is very likely that all trades happen on the bid or the ask. In that case it should not be interpreted as a bullish or bearish signal.

In summary, option flow data can be a valuable tool for traders looking for potential trade opportunities in the options market. By analyzing the data and looking for high-volume trades and unusual activity, traders can identify potential market moves and make informed trading decisions. However, it is important to use option flow data in conjunction with other market indicators and to have a good understanding of the underlying asset before making any trades.