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

Premium size

The total dollars spent on a trade — the headline conviction number.

What it is

Premium is the total dollars on a trade: contracts × price × 100. It is the size of the bet.

Why it matters

Big premium is the tell. A $2M sweep means someone with real money has a real opinion — that is why we rank by it. Bigger premium usually means smarter money: institutions actually care about trades this size, retail rarely puts $500K+ on a single options print.

How to use it

The Unusual Activity feed surfaces trades with large premium because those are the ones worth following. When scanning the Heat Map or Live Flow, sort by premium to find the heavyweight institutional flows — a $100K print and a $2M print are not the same kind of signal.

Where you will see it

Unusual ActivitySee the options trades that actually mean something, not just the biggest-looking prints. 85+ is significant, 95+ is institutional-grade. (Scored on volume-to-OI, premium size, and bid-ask execution.)
Live FlowThe raw tape as it prints. Filter by premium, score, DTE, and trade type to watch flow build on a single name in real time.
Heat MapA visual grid of where premium is concentrating across the market right now, so rotation and crowding jump out at a glance.