Options flow data can give traders a sneak preview of where stock prices or the market as a whole might be moving, using the actions of smart money and market makers to get a forecast. Using these data points allows traders to properly prepare for what might be coming and to make a profit no matter what kind of conditions set in.
We’ll be highlighting the best tools out there for monitoring options flow data, so you can get the information you need to navigate the market like a pro. When smart money traders buy a lot of call options on a certain stock, it will probably rise in price, while an abundance of put options on a stock is signaling that it’s about to lose value. The options flow data tools we’ll address in our guide can help you gain insights like these to make your options trading experience online a lot more robust and dynamic.
Use options flow data tools to pinpoint significant trades, gain insights into “smart money” moves, and improve your overall approach to trading!
Page Contents:
- What Is Options Flow Data?
- Why Use Options Flow Data Tools?
- Top Options Flow Data Tools
- Cheaper Alternatives
- Comparing the Top Options Flow Tools
- Choosing the Best Options Flow Tool for You
What Is Options Flow Data?
Options flow data is tracking large options flow from large institutional investors and market movers. Tracking these major orders can give retail traders great insights into where the stock prices might move and into overall market sentiment. Retail traders leverage options flow data to find out where the larger investors are placing their money. Options flow gives smaller traders hints at what could be coming, and they can use the data to make the proper decisions to navigate future trends.
A good way to illustrate how to use options flow data would be to take a bullish outlook on a stock that’s seeing some significant attention from smart money traders. If there’s a significant increase in the number of call options being bought on that stock by the major players in the market, there’s a good chance that that stock’s price will rise in the near future. With this information in mind, smaller retail traders can begin planning their next move.
Why Use Options Flow Data Tools?
There are several great reasons for smaller traders to use options flow data tools during their online option trading sessions. Like other technical indicators, options flow data can provide some clues and helpful hints as to where market sentiment might lie and where stock prices could be heading in the future.
- Quickly Identify Significant Trades—By analyzing large volume options contracts, monitoring unusual options activity, and pinpointing buying or selling patterns, retail traders can find significant trades that can give you clues as to where assets and securities are the hottest ones on the market.
- Spot Unusual Market Activity—Options flow data can alert retail traders to large influxes of buying or selling by the “smart money” traders. These large moves can have a profound effect on market prices.
- Gain Insights into Institutional and Insider Trading Activity—Find out where the “smart money” is going. Retail traders can find out where the market marker and institutional investors are putting their money to get an idea of where the stock prices might be going, or they can find out about the market outlook being bullish or bearish on certain stocks.
- Improve Trading Strategies: Retail traders can make better-informed decisions using options flow data, and the more experience they gain trading around the biggest inventors, the more improved they can become in their trading approach. Experience can be the greatest teacher.
Top 5 Options Flow Data Tools
To get quality option flow data, we’d recommend you check out these options flow data tools, which we feel deliver the best results for options traders. Each comes with useful tools like real-time flow data, alerts/notifications, and advanced filters that allow traders to view the sectors or assets they are most interested in trading.
Cheddar Flow
Cheddar Flow is a highly accessible options flow data platform that can help traders gauge possible price movements and gain key insights into market sentiment (bearish or bullish outlooks). Cheddar Flow comes with real-time options flow data analysis, news integration, insider trading alerts, customizable filters, and advanced order details.
Core Features
- Real-Time Options Flow: Access data on large options orders being placed in the market. Find out the precise buying and selling activity of smart money traders and institutional investors.
- Insider Trading Alerts: Get notifications that signal potential unusual options activity. Find out about possible insider knowledge about a stock’s future price movement using these alerts.
- News Integration: Traders can directly access and analyze real-time market news along with the options flow data. News integration lets traders get a complete visual of possible price movements and market sentiment.
Pricing and Subscription Details
Plan | Price |
|---|---|
Standard Plan | $85 per month |
Professional Plan | $99 per month |
Pro Annual Plan | $75 per month ($900 annually) |
Pros
- Access real-time options flow data
- Use the usual activity scanner to spot big moves
- Dark pool data
- Heatmaps available
Cons
- The amount of information available could be overwhelming for some traders
- Interpreting data successfully can take time to learn
- Some traders run the risk of overtrading due to easy access
Best Suited For
Traders who value easy-to-interpret visual data and insider insights. Read our Cheddar Flow review to find out more about this options flow tool.
Unusual Whales
With a focus on options flow, crypto trading, and equity, Unusual Whales is a financial data platform and community that allows traders to get key insights into the buying and selling patterns of smart money traders or institutional investors. Unusual Whales’ big goal is designed around empowering retail traders with knowledge of congressional insider trading and marketwide corruption.
Key Features
- Options Flow Tracking: Monitor the trading of large options contracts, all in real-time. Traders can use this data to get insights into future stock price movements in either direction or overall market sentiment around certain stocks.
- Dark Pool Data: This tool lets retail traders see data from private exchanges where large institutional traders can trade contracts without publicly disclosing their orders.
- Alerts: Get notifications when there’s unusual options activity for certain stocks, gaining insights into possible insider knowledge of the current market dynamics.
Pricing Overview
Subscription | Price |
|---|---|
Retail Basic | $50 per month or $504 per year |
Retail Pro | $75 per month or $672 per year |
Professional Subscription | $200 per month or $2,040 per year |
Pros
- Offers a wide range of tracking tools for earning analysis and tracking institutional activity
- Robust community of traders
- Filter and analyze data using the customization options offered on the user interface
- Get real-time updates on options flow data
Cons
- Unusual Whales can be difficult to learn, especially for newbies
- The monthly subscription price can be steeper than other options flow data platforms
- The platform is better suited for active traders, not so much for long-term traders
Ideal For
Beginner and intermediate traders looking for comprehensive data at an affordable price.
FlowAlgo
A financial data algorithm and platform that takes a close look at smart money transactions in the options market, Flow Algo provides retail traders with real-time insights into market-moving trades. Traders can track institutional orders in both the stock and equity options markets. Flow ALgo monitors the market-wide tape to track orders by size, patterns, speed, volume, or order type.
Key Features
- Real-Time Flow Alerts: These notification systems alert traders when there’s unusual options activity or a concentration of smart money around certain stocks or options. Traders also have access to dark pools.
- AI-Driven Insights: This predictive algorithm can be used on a wide range of data points as it attempts to predict when a stock’s momentum is due to pick up in the short term.
- Algo Score: This is an experimental feature at Flow Algo that measures the aggressiveness behind an order.
- Flow Algo Levels: Another notable feature on this financial platform is the “levels” which use historical block trade and dark pool information to establish support or resistance levels. These levels are based on the volume that’s transacted at each respective price level.
Pricing Structure
The nice thing about the Flow Algo membership plans is that they can be canceled or upgraded at any time without the subscriber being locked into any sort of commitment.
Subscription | Price |
|---|---|
Two-Week Trial | $37 |
Monthly Subscription | $149 |
Quarterly Subscription | $387 ($129 per month) |
Annual Subscription | $1188 ($99 per month) |
Pros
- Get updates on unusual options activity
- Focus on relevant data using customizable filters
- Enjoy real-time options flow data
- Gives retail traders a leg up over institutional investors
- Pinpoint market-moving events before they occur
Cons
- Learning to use FlowAlgo can be difficult
- Using FlowAlgo can be overwhelming for some traders
- Not guaranteed to deliver a profit, but to be used with other technical indicators
- Customizing and optimizing the platform can be time-consuming
Ideal For
Active day traders and swing traders need real-time alerts and detailed flow analytics.
Cheaper Alternatives
OptionStrat
OptionStrat is technically an options tools kit that’s designed for building strategies, optimizing options, analyzing order flow, and calculating profits, but it also comes with an unusual options flow tool. Not only is OptionStrat a cheaper alternative to the platforms we listed previously, but it’s also well-known for its simplicity and user-friendliness.
Primary Features
- Option Strategy Visualization: Get an analysis of real-time options market data to pinpoint large and unusual traders. Find out where smart money investors are putting their money to pick up on market sentiment through buying and selling patterns.
- Flow Analytics: This tool analyzes the movement and performance of customers’ orders, which includes retail traders and institutional investors. It’s designed to give users a good idea of where the money is being spent or made in the options market.
- Options Optimizer: Find the best options strategies using the optimize,r which scans through a ton of potential trades. Those using this tool have a good cache of maximizing their returns or securing a profit based on a set strike price and expiration date.
Pricing Structure
Membership | Price |
|---|---|
Live Flow Membership | $89.99 per month |
Live Tools Membership | $29.99 per month |
Live Flow Features
- Live options flow
- Saved filters
- Alerts
- Performance tracking
- Historical searching
- Live newsfeed
- Congress and insider trades
- Live prices
- Market events and news
- Volume overlay
- Chance of profit
- Net greeks
- IV enhancement
- Save strategy tracking
- Commissions
Live Tools Features
- Live prices
- Market events and news
- Volume overlay
- Chance of profit
- Net greeks
- IV enhancement
- Save strategy tracking
- Commissions
Pros
- Built-in options strategies (over 50)
- Volume indicators for calls and puts
- Customizable options order flow screener
- User-friendly visualization tools
- Add your trades to create custom strategies
Cons
- Access historical price charts only as line charts
- Getting order flow data for real-time options can be costly
Ideal Users
Beginners and traders on a tight budget seeking solid analytics.
InsiderFinance
This trading tool kit and platform is helpful for those who want to analyze the options and other financial markets by using tools and data like options flow or dark pools. InsiderFinance uses proprietary algorithms to process all the data out there, which helps to cut down on useless noise and focus on high-conviction trades.
Key Features
- Insider Trade Alerts: These are notifications that traders can get when there are insider trades going on in the options market. The alerts are one of the most important tools provided by InsiderFinance because they level the playing field for retail traders considerably.
- Institutional Order Tracking: InsiderFinance has these tracking systems in place, allowing traders to keep an eye on where smart money is going within the options market, be it buying or selling certain assets, securities, or sectors.
- Enhanced AI-Driven Analysis: This provides InsiderFinance users with actionable market intelligence that can help them make better decisions and find the most profitable trade setups.
Pricing Structure
No matter which membership plan you choose at InsiderFinance, you get the same features and benefits. The only difference in each membership is the amount of time you have to use its services.
Subscription | Price |
|---|---|
Monthly Subscription | $75 billed monthly |
Quarterly Subscription | $65 ($195 billed quarterly) |
Annual Subscription | $55 ($660 billed yearly) |
Pros
- Traders can access useful tools like dark pool data, option flow analysis, and technical analysis
- Customizable filters are available on the dashboard
- All-inclusive plans are offered (choices of quarterly or annual billing options)
- InsiderFinance has great guides for its features
Cons
- No mobile app is available
- The scan options are limited
- Users cannot download data as a CSV file
Ideal For
Intermediate and advanced traders who want insights beyond basic options data.
Comparing the Top Options Flow Tools
If you’ve narrowed down your choice to a few options flow platforms but you’re looking for a good summation of the key features, ease of use, or pricing, we’d encourage you to look at the comparison tables we’ve provided where we’ve outlined the key differences between these products.
Platform | Best For | Pricing | Key Features |
|---|---|---|---|
Cheddar Flow | Traders who value easy-to-interpret visual data and insider insights. | Standard Plan: $85 per month | Real-Time Options Flow |
Unusual Whales | Beginner and intermediate traders looking for comprehensive data at an affordable price. | Retail Basic: $50 per month or $504 per year | Options Flow Tracking |
FlowAlgo | Active day traders and swing traders needing real-time alerts and detailed flow analytics. | Two-Week Trial: $37 | Real-Time Flow Alerts |
OptionStrat | Beginners and traders on a tight budget seeking solid analytics. | Live Flow Membership: $59.99 per month | Option Strategy Visualization |
InsiderFinance | Intermediate and advanced traders who want insights beyond basic options data. | Monthly Subscription: $75 billed monthly | Insider Trade Alerts |
Now that you have a good idea of the standout features unique to each tool, the pricing for the premium subscriptions, and what kind of traders should be using each of these platforms, you’ll have a much easier time figuring out which of these products is the best fit for your online trading goals and your available capital.
How to Choose the Best Options Flow Tool for You
Before selecting an options flow data tool, take some time to think about what you personally need in the platform. Here are a few things to consider before making your final decision.
- Determine Your Budget: You should take the price of membership in mind and also consider what each platform offers in terms of features to see if you’re getting your money’s worth.
- Consider Your Trading Experience Level: Some options flow data platforms are better suited for beginners, while some are much better for advanced traders. A lot of choosing the right platform involves considering your current skill level and which platform would offer the tools that are appropriate.
- Define Specific Data or Insights You Need: Some of the more advanced options flow data platforms provide more tools and insights, which is probably a better fit for advanced traders. Beginners might benefit from a platform that has a more user-friendly design and might offer fewer data points.
- Evaluate Ease of Use: Each of these options flow data tools comes with its own special learning curve, with some being easier to use than others. Choosing the right one might come down to your current skill level, but some of it also comes down to the user-friendliness of the platform’s design.
- Evaluate Detailed Data Requirements: Another consideration is having the right smartphone or desktop computer that can power the flow data system you want to use in your trading sessions. Some can be supported on mobile devices but others might need the additional power of a home computer.
Final Recommendations
Here it is: our final recommendations on an options flow data platform. You can find this information in our condensed reviews and the side-by-side comparison chart. Find out what type of traders each of these platforms is designed for and who will have the best overall experience using them.
- Cheddar Flow: Best for traders who value easy-to-interpret visual data and insider insights.
- Unusual Whales: Best for beginner and intermediate traders looking for comprehensive data at an affordable price.
- FlowAlgo: Best for active day traders and swing traders needing real-time alerts and detailed flow analytics.
- OptionStrat: Best for beginners and traders on a tight budget seeking solid analytics.
- InsiderFinance: Best for intermediate and advanced traders who want insights beyond basic options data.
If money or budgeting was of absolutely no concern, we’d recommend going with Unusual Whales as it strikes a good balance between catering to beginners and traders with intermediate experience. Plus, they offer the tools needed to effectively find institutional investing in the market and take advantage of those buying and selling patterns to properly navigate the current conditions.
Choosing Your Ideal Options Flow Tool
Using the buying and selling patterns of institutional investors and market markers as a basis, traders can leverage options flow data to find out where the market as a whole could be heading as well as the future fluctuations of certain stock prices. Options flow data is a helpful tool in giving traders the foresight and time to prepare for what might be coming. It helps them tremendously in the realm of securing profit no matter what kind of conditions are imminent.
Before working options flow tools into your trading regimen, it’s best to trial or demo the tools to gain some familiarity and also to eventually select the ones that resonate most with your trading style. Use free versions of these option flow platforms, plus take the time to simulate your traders using demo accounts or paper trading if you haven’t yet chosen a trading app.
