Do any of you guys use Product Depth in ToS for options?

[Tall Mike]

Was just curious for those who trade options if you use it, and if you find it useful.

 

[TrailerParkTed]

Was just curious for those who trade options if you use it, and if you find it useful.

I trade directionally and don’t find a large amount of depth that helpful. Three deep is enough if you can read LL2 or NYSE Open Book.

 

[Sergio123]

Yes. That's how I pick which options to sell and which to buy to create different spreads based upon my market thesis.

If you aren't using that or something similar, then I am not sure what you are doing.

 

[traider]

I trade directionally and don’t find a large amount of depth that helpful. Three deep is enough if you can read LL2 or NYSE Open Book.

How do you use the 3 levels? Do you look for the biggest orders?

 

[TrailerParkTed]

How do you use the 3 levels? Do you look for the biggest orders?

Level 3 are for MMs.