🧵🚨UNUSUAL WHALES THREAD
One of the most common questions I get on a daily basis is how I use @unusual_whales flow to assist my trading. Let's get right into it.🐋
One of the most common questions I get on a daily basis is how I use @unusual_whales flow to assist my trading. Let's get right into it.🐋
(1/19) First things first, if you guys want to make an account...
1. Head over to unusualwhales.com
2. Click "Create an Account"
3. Use code "KaneCap" for 10% off.
1. Head over to unusualwhales.com
2. Click "Create an Account"
3. Use code "KaneCap" for 10% off.
(2/19) Unusual Whales' main purpose is to provide retail investors with unusual market activity, better yet, flow.
To dumb that down, UW provides us with options data from top to bottom giving us a better understanding of where the money is.
To dumb that down, UW provides us with options data from top to bottom giving us a better understanding of where the money is.
(3/19) One of the most important and main features UW offers is the flow tab.
Here we see the most recent option orders with respect to the filters you select.
The main data I like to analyze is the options side, strikes, exp dates, and premium.
Here we see the most recent option orders with respect to the filters you select.
The main data I like to analyze is the options side, strikes, exp dates, and premium.
(4/19) Filters:
UW also allows you to choose specific filter settings to narrow down the flow to exactly what you're looking for. You can find this option on the left side of the screen.
UW also allows you to choose specific filter settings to narrow down the flow to exactly what you're looking for. You can find this option on the left side of the screen.
(5/19) Filters I use:
When analyzing flow I like to input a few filters.
1. Premium Range: At least 25k (varies per ticker)
2. Ask Only
3. DTE Range: 30 Days
4. OTM Only (varies)
When analyzing flow I like to input a few filters.
1. Premium Range: At least 25k (varies per ticker)
2. Ask Only
3. DTE Range: 30 Days
4. OTM Only (varies)
(6/19) Why these filters?
I set my premium range to at least 25k because I want to focus on larger orders. A premium of less than 1k does not interest me (retail buyers).
Ask only to see what traders are currently in.
DTE Range: Personal preference.
I set my premium range to at least 25k because I want to focus on larger orders. A premium of less than 1k does not interest me (retail buyers).
Ask only to see what traders are currently in.
DTE Range: Personal preference.
(7/19) On large-cap stocks like $AAPL & $MSFT I'll set my premium range higher (75k-100k) than smaller cap stocks such as $SOFI, $DKNG, etc.
(8/19) Intraday Analyst:
I like to look at the IDA as an in-depth analysis of the flow that UW provides. How exactly you may ask?
1. Option Chain Activity
2. Flow Levels
3. Flow History
I like to look at the IDA as an in-depth analysis of the flow that UW provides. How exactly you may ask?
1. Option Chain Activity
2. Flow Levels
3. Flow History
(9/19) Starting with Active Chains:
This chart shows which option chains are "Most Active" (most intraday volume). There is also a selection for chains with the highest OI. You can click the blue hyperlinks to be directed to that specific chain's flow.
This chart shows which option chains are "Most Active" (most intraday volume). There is also a selection for chains with the highest OI. You can click the blue hyperlinks to be directed to that specific chain's flow.
(10/19) Volume vs Open Interest
To understand this data it is important to understand the difference between Volume and Open Interest.
Volume: # of contracts traded during a specific period of time.
Open Interest: # of contracts that are active or not settled.
To understand this data it is important to understand the difference between Volume and Open Interest.
Volume: # of contracts traded during a specific period of time.
Open Interest: # of contracts that are active or not settled.
(11/19) Something worth noting: Most of the time OI is higher than volume. Reason - At the start of the day, volume is reset to 0. OI on the other hand represents the cumulative # of all open contracts.
(12/19) Flow Levels:
To me, this page simplifies all of the information provided on the flow tab. I like to focus mostly on bullish v bearish premium and strike/expiry breakdowns.
To me, this page simplifies all of the information provided on the flow tab. I like to focus mostly on bullish v bearish premium and strike/expiry breakdowns.
(13/19) Flow History:
I usually use this feature in the morning with the idea of analyzing the previous day's flow, with respect to my filters, to see if the flow indicates anything from profit-taking to large buying orders at close.
I usually use this feature in the morning with the idea of analyzing the previous day's flow, with respect to my filters, to see if the flow indicates anything from profit-taking to large buying orders at close.
(14/19) Now, onto Hot Chains & Tickers:
This feature is basically another added scanner for me. By knowing which tickers were the "hottest", the largest increases in call/put volume, I can add/remove tickers to my watchlist. For example ⬇️
This feature is basically another added scanner for me. By knowing which tickers were the "hottest", the largest increases in call/put volume, I can add/remove tickers to my watchlist. For example ⬇️
(15/19) $SPY obviously has the largest call volume here (2.9M) but $TLRY is a name that pops out to me after seeing such a large increase in call and put volume (118%) & (158%). I would add a name like this to my watchlist, due to its massive increases in c/p volume.
(16/19) Flow x Trade
Last week I alerted $NVDA 262.5p live on discord for a +100% gain after pairing my TA with UW's flow.
Last week I alerted $NVDA 262.5p live on discord for a +100% gain after pairing my TA with UW's flow.
(17/19) At the time of my analysis, NVDA had broken under a key support level and retraced back to the 8EMA where I entered looking for a rejection to new lows. When analyzing the flow, I noticed large bearish prints. Most of these are calls which points to profit-taking.
(18/19) After the analysis of this flow, I had even more conviction to enter the trade which went over 100% in less than 5 minutes.
Solid Technical Analysis paired with Unusual Whales Flow is an absolute game-changer.
Solid Technical Analysis paired with Unusual Whales Flow is an absolute game-changer.
(19/19) The bottom line is @unusual_whales has been an incredible platform and added conviction to my trading. I hope you guys enjoyed this thread, feel free to leave your comments and suggestions below. Let me know what you think! 🐋
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