Cheddar Flow Review – Options Order Flow Monitoring

About Cheddar Flow

Cheddar Flow is a platform for tracking unusual options activity in real-time throughout the trading day. The platform makes it easy to sort and filter options flow based on ticker symbol, activity, sector, and more. Plus, you get access to advanced charts from TradingView to help you make trading decisions.

So, can Cheddar Flow help you spot actionable trading opportunities? Our Cheddar Flow review will cover everything you need to know about this platform.

Cheddar Flow Pricing Options

Cheddar Flow offers two subscriptions tiers: Standard and Professional. The Standard plan costs $85 per month and gives you access to most of Cheddar Flow’s data and tools. However, you won’t get options flow data from dark pools, custom watchlists, or desktop alerts. These features are available through the Professional plan for $99 per month or $891 per year.

You can try out Cheddar Flow’s Standard plan for free for 7 days before committing to the service.

Cheddar Flow Features

Options Order Flow Scanner

The options order flow scanner is at the heart of Cheddar Flow. This module gives you an overview of all options activity going on in the market during the current trading day and hands you the tools you need to make sense of it.

To start, Cheddar Flow shows you all options order data from the major options exchanges in a table. For each contract being traded, you can see details like the strike price and expiration date, the volume traded, and the premiums paid. The platform also uses an algorithm to identify sweep trades, which are large-scale trades – typically placed by institutional investors – across multiple exchanges simultaneously. 

Helpfully, Cheddar Flow automatically calculates the total number of call and put contracts for all options orders in the scanner table as well as the put-to-call ratio. Based on this, the service assesses the overall options flow as bullish or bearish.

Cheddar Flow gives you a number of filtering options to home in on specific stocks or specific types of options activity. First, you can click on any stock ticker in the scanner table and Cheddar Flow will instantly filter the results based on that ticker. You can also search the table by ticker symbol or filter symbols according to one of your watchlists (Professional subscribers only).

Cheddar Flow also lets you screen options order flow data based on a variety of actionable features. For example, you can screen for orders for which volume is greater than open interest or for contracts with an implied volatility greater than 50%. You can also scan for repeat call activity, opening orders, unusual orders, or out-of-the-money options. 

You’re free to combine any of Cheddar Flow’s filters to create a custom scan. In addition, the platform gives you a few basic filters for premiums, order size, expiration date, contract price, and market sector to help you refine your scan results.

Notably, Cheddar Flow isn’t limited to just the current day’s options order flow data. You can access data going back 1 year and sort through it using the same scanner filters as above.

Options Order Flow Overview

You can also use Cheddar Flow to take a broader look at options order flow across the market. The overview module lets you see which stocks are experiencing the most bullish or most bearish options order flow. You can also see which market sectors are experiencing the greatest options order flow. Data is available for the current trading day, the previous trading day, the current week, or the previous week.

Cheddar Flow makes it easy to dig deeper into this activity. Just click on any stock or market sector, and the platform will display all the options contracts being traded for that stock or sector in a sortable table.

Unusual Options Order Volume

The unusual options order volume module displays all stocks that are experiencing unusually high options trading volume during the current trading day. The table shows not only the volume of contracts being traded, but also the spread of those contracts across bullish, bearish, or neutral sentiment. You can also see what percentage of call and put options were bought on the bid price versus the ask price, or on a price midway between the two.

Charting

Cheddar Flow provides technical charts from TradingView so that you can further investigate stocks with interesting options order flows. The charts offer price data at 1-minute to monthly intervals, plus hundreds of customizable technical indicators. You also can compare multiple stocks on the same chart.

For each stock, Cheddar Flow provides a brief overview of the company and its recent financial performance. That includes data about earnings for the past 4 quarters as well as income statements for the past 4 years. 

Cheddar Flow Customization and Layout

Cheddar Flow offers a limited amount of customization. You can save a combination of options order flow filters as a custom layout to return to the same scan settings quickly in the future. While watchlists are supported and can be used to filter options order flow data, they are only available for Professional plan subscribers.

Cheddar Flow Platform Differentiators

Cheddar Flow is an options order flow scanner that’s impressively easy to use. While it is pricier than comparable services like Optionsonar and Market Chameleon, it packs some unique features.

The platform lets you easily find the most interesting options order flow with filters like repeat call activity and unusual options activity. The platform also identifies sweep and block orders so you can quickly identify institutional money moving through the options market. 

Overall, Cheddar Flow’s modules work well together to give you a clear sense of what stocks are experiencing the most options activity and whether that activity is bullish or bearish. The ability to access historical data – both from the previous week and throughout the year – is also a major plus for traders who want to see how bullish or bearish momentum has built up around a stock.

What Type of Trader is Cheddar Flow Best For?

Cheddar Flow is best for anyone who wants to use options order flow data to inform their trades. That includes both stock and options traders, as the information that Cheddar Flow offers is broadly useful for informing whether activity around a stock is bullish or bearish. The platform also makes it easy to see what institutional traders are doing and to spot trading opportunities based on unusual options volume.

While options order flow analysis is most suitable for experienced traders, Cheddar Flow’s interface is straightforward enough for even beginners to learn quickly.

Pros

• Track sweep trades placed across multiple exchanges
• Numerous filters to sort options order flow data
• Historical options order flow data for the past year
• Seamless user interface with sortable tables
• Charts and fundamental data from TradingView

Cons

• Alerts and watchlists require a Professional subscription
• No built-in news feed

Source: https://daytradereview.com/cheddar-flow-review/