Options Analysis
Daily option-flow highlights — Bulltard's picks vs ours
Upcoming Catalysts
?Catalysts extracted from SEC 8-K/6-K filings. Click a row to pre-fill the upside/downside assumptions from the expected move and auto-select the nearest option expiry date.
| Drug | Disease | Phase | Type | Timing | PDUFA | Expected Move |
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Options Activity
?Scans the full options chain (all expiries) for unusual activity. High put/call ratios may signal institutional hedging or bearish bets. Contracts with volume well above open interest suggest aggressive new positioning. This data updates with market hours.
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?Volume / open interest. Values above 0.5 suggest high activity relative to existing positions. Above 1.0 is very unusual — more contracts traded today than total open interest.
Unusual Contracts
?High-conviction unusual options activity, filtered by premium size to eliminate retail noise. Criteria: volume > OI with premium >= $20K (new aggressive positions), or vol/OI > 5x with premium >= $5K, or premium >= $50K (big money at any ratio). Sorted by premium descending.
Premium = volume x last price x 100 (total dollar value). Yellow = $50K+, red = $100K+.
Signal estimates trade direction using a Lee-Ready proxy: compares the last trade price to the day's mid-price (avg of high/low). BUY (green) = above mid, likely buyer-initiated. SELL (red) = below mid, likely seller-initiated. NEUTRAL = near mid. Signal is only available for today's live data — historical rows show "—".
Premium = volume x last price x 100 (total dollar value). Yellow = $50K+, red = $100K+.
Signal estimates trade direction using a Lee-Ready proxy: compares the last trade price to the day's mid-price (avg of high/low). BUY (green) = above mid, likely buyer-initiated. SELL (red) = below mid, likely seller-initiated. NEUTRAL = near mid. Signal is only available for today's live data — historical rows show "—".
| Date | Type | Strike | Expiry | Volume | OI | Vol/OI | Premium | IV | Signal |
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Activity Trends (90 days)
?Historical options activity from daily snapshots. Collected daily by the automated Lambda pipeline.
Chart 1 — Put/Call Ratios:
P/C Volume Ratio (blue) = total put volume / total call volume for the day. P/C OI Ratio (yellow) = total put open interest / total call open interest. Values above 1.0 (dotted line) mean more puts than calls — bearish skew. Spikes often signal hedging or directional bets ahead of catalysts.
Chart 2 — Volume:
Daily options volume broken into put volume (red bars) and call volume (green bars), stacked. Large spikes indicate unusual institutional activity. Compare relative sizes to spot shifts in sentiment.
Chart 3 — Turnover:
Turnover (green line) = total daily volume / total open interest. Measures how actively positions are being traded relative to what's outstanding. The dotted line shows the average over the period. High turnover days mean aggressive new positioning or closing.
Red dashed vertical lines mark catalyst dates that fall within the data range.
Chart 1 — Put/Call Ratios:
P/C Volume Ratio (blue) = total put volume / total call volume for the day. P/C OI Ratio (yellow) = total put open interest / total call open interest. Values above 1.0 (dotted line) mean more puts than calls — bearish skew. Spikes often signal hedging or directional bets ahead of catalysts.
Chart 2 — Volume:
Daily options volume broken into put volume (red bars) and call volume (green bars), stacked. Large spikes indicate unusual institutional activity. Compare relative sizes to spot shifts in sentiment.
Chart 3 — Turnover:
Turnover (green line) = total daily volume / total open interest. Measures how actively positions are being traded relative to what's outstanding. The dotted line shows the average over the period. High turnover days mean aggressive new positioning or closing.
Red dashed vertical lines mark catalyst dates that fall within the data range.
Put Contracts
?Available put options for the selected expiry. Blue left border = near the money (within 3% of stock price). Click a row to populate the "Buy Put" leg in the comparison below. Toggle the leftmost checkbox to add/remove that contract from the Contract Price History overlay. Last = most recent trade price; Close = previous day's close.
| 📈 | Strike | Last | Close | IV | Delta | Gamma | Theta | Vega | OI | Volume | DTE |
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Call Contracts
?Available call options for the selected expiry. Blue left border = near the money (within 3% of stock price). Click a row to populate the "Sell Call" leg in the comparison below. Toggle the leftmost checkbox to add/remove that contract from the Contract Price History overlay.
| 📈 | Strike | Last | Close | IV | Delta | Gamma | Theta | Vega | OI | Volume | DTE |
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Sell Equity EV — where the red line comes from
?The dashed red line on every scatter is the expected P&L of shorting 100 shares under your up/down assumptions. Each branch shows the per-scenario outcome; the weighted sum is the EV. Toggle $ ↔ % to express everything as a percentage of notional (stock price × 100 shares).
Risk-Reward — Buy Put
?Every put contract plotted by cost (max loss = premium) vs expected value given your probability assumptions.
Colors: OTM (blue) = strike below stock; ATM (yellow) = within 3% of stock; ITM (green) = strike above stock.
Dot size = open interest. White dotted line = efficient frontier. Green label = optimal contract (best EV per dollar risked). Red dashed line = sell-equity EV baseline. Click any dot to select it.
Colors: OTM (blue) = strike below stock; ATM (yellow) = within 3% of stock; ITM (green) = strike above stock.
Dot size = open interest. White dotted line = efficient frontier. Green label = optimal contract (best EV per dollar risked). Red dashed line = sell-equity EV baseline. Click any dot to select it.
Risk-Reward — Sell Call
?Every call contract plotted by max loss (loss in your upside scenario) vs expected value if you SELL the call. Premium received caps the gain; loss grows as stock rallies past strike.
Colors: OTM (blue) = strike above stock; ATM (yellow) = within 3%; ITM (green) = strike below stock — moneyness is mirrored from puts.
Dot size = open interest. Red dashed line = same sell-equity EV baseline used on the puts panel, so the two sides are directly comparable.
Colors: OTM (blue) = strike above stock; ATM (yellow) = within 3%; ITM (green) = strike below stock — moneyness is mirrored from puts.
Dot size = open interest. Red dashed line = same sell-equity EV baseline used on the puts panel, so the two sides are directly comparable.
EV by Strike — Buy Put
?Expected value of buying each put strike. Green bars = EV beats sell-equity; yellow = positive but worse than equity; red = negative EV. Red dashed line = sell-equity EV.
EV by Strike — Sell Call
?Expected value of selling each call strike. Green bars = EV beats sell-equity; yellow = positive but worse than equity; red = negative EV. Red dashed line = sell-equity EV.
Buy Put
Sell Call
Sell Equity (Short)
Position Payoff — long 100 shares + option overlay
?Net portfolio P&L at expiry, assuming you own 100 shares of the underlying and apply each strategy. Plots four lines across a stock-price range from -60% to +80% of current.
Long stock (grey dotted): baseline, linear. What you have today with no options overlay.
+ Buy Put (blue): real hedge — floor below the strike. Costs the put premium across all stock-price outcomes. Below the strike, your loss is capped.
+ Sell Call (orange): covered call / overwrite — ceiling above the call strike. Premium received lifts you above the bare long-stock line everywhere, but you give up the right tail.
+ Collar (green): long + put + sell call. Both floored and capped. Premium from the call offsets some/all of the put cost.
Vertical markers: current price, your modeled up target (green), your modeled down target (red). Dotted horizontal = breakeven (P&L = $0).
The summary table below the chart lists each strategy's P&L at your two modeled prices, the probability-weighted Expected Value, and the worst-case loss IF the stock breaks below your down target — the "what about the tail?" column that the EV calculator doesn't surface.
Long stock (grey dotted): baseline, linear. What you have today with no options overlay.
+ Buy Put (blue): real hedge — floor below the strike. Costs the put premium across all stock-price outcomes. Below the strike, your loss is capped.
+ Sell Call (orange): covered call / overwrite — ceiling above the call strike. Premium received lifts you above the bare long-stock line everywhere, but you give up the right tail.
+ Collar (green): long + put + sell call. Both floored and capped. Premium from the call offsets some/all of the put cost.
Vertical markers: current price, your modeled up target (green), your modeled down target (red). Dotted horizontal = breakeven (P&L = $0).
The summary table below the chart lists each strategy's P&L at your two modeled prices, the probability-weighted Expected Value, and the worst-case loss IF the stock breaks below your down target — the "what about the tail?" column that the EV calculator doesn't surface.
Contract Price History
?Daily price history for the contracts in your overlay. Clicking any row in the put or call table auto-adds that contract; the 📈 checkbox in each row toggles membership.
Normalized % (default): each line rebased to 100 at the leftmost date, so a $0.20 OTM and a $50 ITM share a meaningful axis and you can compare relative moves directly. The dotted grey horizontal at 100 = each contract's starting price.
Raw $: actual last_price per day, dollar terms. Use when you want to map back to position sizing.
Window: 30d / 90d / 180d / 1y / Full (5y backfill). Lookback is capped by when the contract was first listed.
Line style: puts solid, calls dashed.
Catalyst dates appear as vertical red dashed lines. Tooltip shows IV / volume / OI / delta per point so you can tell whether a premium move was driven by underlying movement or vol expansion/crush. Only days with volume > 0 are persisted in options_contract_activity, so illiquid strikes have gaps.
Normalized % (default): each line rebased to 100 at the leftmost date, so a $0.20 OTM and a $50 ITM share a meaningful axis and you can compare relative moves directly. The dotted grey horizontal at 100 = each contract's starting price.
Raw $: actual last_price per day, dollar terms. Use when you want to map back to position sizing.
Window: 30d / 90d / 180d / 1y / Full (5y backfill). Lookback is capped by when the contract was first listed.
Line style: puts solid, calls dashed.
Catalyst dates appear as vertical red dashed lines. Tooltip shows IV / volume / OI / delta per point so you can tell whether a premium move was driven by underlying movement or vol expansion/crush. Only days with volume > 0 are persisted in options_contract_activity, so illiquid strikes have gaps.
Enter a ticker and load catalysts to begin.
Each row is one option contract that saw a single concentrated 1-second burst of trading on the selected day — not daily aggregate volume. Bulltard rows are highlights from Bulltard's published daily list; Alchemist rows are flagged by our scanner; Both means the same contract appears in both. Contracts = burst size; Premium = burst-size × VWAP × 100 (institutional dollar size). For Bulltard-only rows we don't observe price directly, so Premium is shown only when our scanner also picked the contract.
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Symbol = single-strike
Symbol = spread (e.g. 350/400C)
Symbol = biotech (active universe)
Click column headers to sort.
Calls Bought 0
| Symbol | Strike | Expiry | Contracts | Premium | Source |
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Puts Bought 0
| Symbol | Strike | Expiry | Contracts | Premium | Source |
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Puts Sold 0
| Symbol | Strike | Expiry | Contracts | Premium | Source |
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Ours — Calls (Direction Unknown) 0
| Symbol | Strike | Expiry | Contracts | Premium | Source |
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Ours — Puts (Direction Unknown) 0
| Symbol | Strike | Expiry | Contracts | Premium | Source |
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Loading flow data…
Net directional flow score per ticker for the selected day. Score = calls_bought + puts_sold − puts_bought (each "trade" = one published highlight; bullish flow types add, bearish subtracts). Positive = net bullish flow, negative = net bearish. The Bulltard score reverse-engineers Bulltard's own published rankings (verified 100% match across 1,000 rows); the Alchemist score applies the same formula to our scanner's flagged contracts.
Bullish 0
| # | Symbol | Last | B Trades | B Score | B Prem | A Trades | A Score | A Prem |
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Bearish 0
| # | Symbol | Last | B Trades | B Score | B Prem | A Trades | A Score | A Prem |
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Loading rankings…
strike × expiry heatmap, click any cell to load
Calls
Puts
Contract
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Last: —
Δ over window: —
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Low: —
Total vol: —
Bars: —
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Portfolio β to XBI
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β-weighted notional
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book × beta — what XBI must cover
XBI / strike
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Degrees of protection — XBI puts
| Hedge | Contracts | Est. premium | % of book | Offset @ −10% | Offset @ −20% |
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Order ticket — degree
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Payoff if the market sells off (chosen degree, at expiry)
| XBI move | Portfolio P&L | Put payoff | Net (incl. premium) | Loss offset |
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Premiums are Black-Scholes estimates from the IV shown — for exact quotes, price the contract in Options Pricing. XBI puts hedge sector beta only; a single-name trial/FDA blowup is not covered — that's managed by position sizing. Plan to monetize the puts in a selloff rather than hold to expiry.
Bulltard's trades 0
| Bucket | Strike | Expiry | Contracts | Premium |
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Alchemist's trades 0
| Bucket | Strike | Expiry | Contracts | Premium |
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