Options 40 in 4

Tough to interpret, however the general consensus is if the order was on the bid it was sell to close if the OI increased then you can concurr it was sell to open, same on the buy side. The livevol software will also tell you if the order was a spread trade. You are flying blind if you do not have the software or something like it.

The livevol platform is used by several option market makers on the PACX floor and they designed it for their use. They also provide data services for the ISE and some hedge funds. Take the trial, it wont hurt and is worth the price they ask for it.

Most folks pay to much for their premuim, this platform allows you to see the Implied the option mm are using to price the option in real time. Take the trial, you will see what I am talking about and then you can make a informed decision.
 
Quote from ES Master:

Tough to interpret, however the general consensus is if the order was on the bid it was sell to close if the OI increased then you can concurr it was sell to open, same on the buy side. The livevol software will also tell you if the order was a spread trade. You are flying blind if you do not have the software or something like it.

The livevol platform is used by several option market makers on the PACX floor and they designed it for their use. They also provide data services for the ISE and some hedge funds. Take the trial, it wont hurt and is worth the price they ask for it.

Most folks pay to much for their premuim, this platform allows you to see the Implied the option mm are using to price the option in real time. Take the trial, you will see what I am talking about and then you can make a informed decision.
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I am not really interested in their software, I have looked at it and it’s a nice package, but nothing all that special in particular. If I was to be shopping packages I would consider it. I am not knocking it by any means and for a retail investor it appears to be a nice package. I am not sure how its priced compared to other retail packages since I don’t use them.


I get the feeling you’re fronting for them.


You posted the following…
“Tough to interpret, however the general consensus is if the order was on the bid it was sell to close if the OI increased then you can concurr it was sell to open,”

Whose consensus? Just because a print is near the bid or even on the bid in no way makes it “sell to close” If may have been a sell to open, it may have been a buy to open or a buy to close. You wont know anything about OI until the next day since OI is not updated until after the close. What if it was a buy to open and it was tied to stock and agreed on then crossed on the floor? That order could be printed anywhere they like in the market place and you would not know what kind of order it was.
My question to you was whether the trade I posted was bullish or bearish, and the real answer is you have no way of knowing no matter what software you have. So long as any trade hits the tape marked spread than any decent software which gives you time and sales will reflect it was a spread, that’s been out there for many years.

Just about all the packages these days will show you the implied volatility based on the bid/offer spreads in the market.
Not sure how you gathered what “most folks” do in any case, buy or sell.
 
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