How do you read options flow as a beginner?

Start with one alert rather than the whole feed. Read it in four parts: the contract (ticker, strike, expiry), the size (premium paid and volume against open interest), the execution (whether it hit the ask, the bid, or crossed as a block), and the context (earnings, the chart, dealer gamma). Only when several of those agree is the print worth acting on.

What is unusual options activity?

Unusual options activity is an options trade that is large or aggressive relative to that contract's own history: heavy premium, volume well above existing open interest, and an execution that suggests urgency. TraderMatrix scores every trade on volume-to-open-interest, premium size, bid-ask execution and days to expiration, and flags those scoring 85 or above.

What is the difference between a sweep and a block trade?

A sweep is one order split across several exchanges at once to fill immediately, which signals urgency. A block is a single large trade negotiated off the public order book, which signals size and planning. A golden sweep is a sweep that is also large enough to qualify as a block.

How long does it take to learn to read the tape?

The mechanics take about an afternoon: the four parts of an alert, what volume against open interest means, and which prints are ordinary hedging. Recognising the patterns quickly enough to use them takes weeks of watching. Watch the feed without trading first.

Do I need a subscription to learn on TraderMatrix?

No. The learning hub, the trading glossary and the tool guides are open to everyone without an account. A subscription unlocks the live scanners and screeners themselves, and it starts with a seven-day free trial.

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Glossary

Implied volatility

The market's expectation of future movement, baked into the option's price.

What it is

Implied Volatility (IV) is the market's forecast of how much a stock will move, expressed as an annualized percentage and derived from current options prices. High IV = expensive options. Low IV = cheap options.

IV usually spikes before earnings and binary events, then collapses immediately after — this is called "IV crush."

IV Rank

IV Rank compares current IV to the stock's 52-week IV range. An IV Rank of 80 means current IV is in the 80th percentile of its yearly range — historically expensive. High IV Rank is favorable for premium selling (CSPs, covered calls); low IV Rank favors buying options (LEAPS, directional calls).

How to use it

Before buying options, check whether IV is elevated. Buying calls right before earnings when IV Rank is 90+ means you are overpaying — even a correct directional move can lose money if IV crushes faster than the underlying moves. The LEAPS Scanner targets strikes with favorable extrinsic efficiency partly because of this dynamic.

Where you will see it

Earnings FlowPre-earnings institutional positioning and post-earnings follow-through, so you see how the smart money is playing the print.
LEAPS ScannerLong-dated calls and puts that let you own the thesis for pennies on the dollar: conviction bets with months to be right, not days.
Cash-Secured PutsPuts you would be happy to be assigned on, ranked by weekly return on capital with probability of profit and breakeven precalculated.