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Find Hidden Gems in the Options Market

Kyle DennisKyle Dennis ·

I’m pretty sure you know the market isn’t a level playing field… we’re competing against hedge funds, banks, corporate insiders, and money managers who have “unlimited” resources.

Rather than just accepting the fact we’re at a disadvantage… I decided to dig deeper into how these “insiders” operate.

So what did I figure out?

Well, these “insiders” try to hide their trades in the options market…

… and by trading options, it’s made my life a whole lot easier.

You see, I use a proprietary options tool that allows me to sniff out the moves of some of Wall Street’s brightest minds…

…and I’ve figured out how to legally profit alongside them — using my Dollar Ace Strategy.

If you know anything about the options market, you’ll know that millions of contracts hit the tape regularly… and if you were just trying to read the tape to try to find a trade… good luck with that.

I’ll stick with the scanner that lasers in on specific orders and focuses on usual options activity — which allows me to find hidden gems in the market and lock in massive winners like this…

… and you know what?

It’s really not that hard to spot these trades if you know what you’re looking for… all you really need to do is focus on three simple factors…

 

Unusual Options Activity… Not So Unusual

 

When you’re trading options… it helps to have some tools that filter through all the trades and helps you find the best ones poised for monster returns.

For example, the proprietary options scanner that I use gives me hints as to which options orders are being placed by Wall Street’s elite… and which trades have the potential to explode.

But the thing is… there are a few things you could start looking at to spot these trades.

For example, some things I look for include:

  • Moneyness of the options — whether the strike price of the options is far away from the current stock price. In other words, whether the options trade is a long-shot bet.
  • The expiration date — if someone is throwing down money on out-of-the-money options that expire soon… it’s a signal someone might know something.
  • Volume in relation to open interest — when volume is greater than open interest, it’s a signal a new position is being opened.

I’ll also scan for things like what price the trades went off, in relation to the bid-ask spread… whether there was a catalyst.

Let me show you what I mean by that.

The other day, my scanner picked up unusual call activity in Microsoft (MSFT)… and of course, I alerted Dollar Ace clients about that activity — as I put it on my watchlist.

So what was interesting about the trade in Microsoft?

Well, my scanner spotted 1409 MSFT Sept. 20 2019 $139 calls go off for 36 cents.

That trade went off just 2 days before the options expired. Not only that, those options were slightly out of the money.

I don’t know about you… but there aren’t a lot of people who will throw down a $50K bet on a “hail mary” trade.

By the end of the day… over 9,000 calls traded… while the open interest was just around 5,300.

There wasn’t a known catalyst either… and that was a signal that something was up.

Well, that very night that the trade went off… here’s what hit the headline.

Source: Wall Street Journal

The very next morning… shortly after the opening bell… those 36 cent options were worth around $2.80 — a whopping 668% overnight.

That’s why I emphasize focusing on the watchlist that I send out to clients… because you never know which one will be a hidden gem.

For example, I was also able to spot some unusual put activity… this time in Macy’s (M), and it was actually on the same watchlist with the MSFT trade.

My options scanner picked up some massive orders in Macy’s… and over 6,800 October 18 $15 calls traded that day… while the open interest was just sitting at 1,011.

I was a little late on the trade… but I was still able to pick up those options the morning after I saw that trade go off.

That day… Macy’s was selling off all day… and I actually took a quick 50% winner…

Of course, there are other reasons as to why I would place an options trade on my watchlist and get into the trade.

As I said, I use a proprietary scanner… and I don’t want to reveal everything… but the best way to learn what I’m doing is to trade alongside me in my Dollar Ace service.

One of the hardest parts of trading is finding new trade ideas everyday… but when you look to the options market… you pretty much receive the best ideas from the top traders out there…

… and with Dollar Ace, you can take advantage of their every move… and you’ll be surprised how easy it is…

The beauty of Dollar Ace is that it spots new opportunities every single day… so if you’ve missed out on the winners that we’ve had… there are plenty more to come.

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