In today’s episode of Driven by Data, Matt and Tyler use the new time and sales summary to help develop a trading thesis. After reviewing the successful double calendar trade on IWM, we looked at the market intelligence tab to find stocks with big moves and unusual volume. This revealed Moderna, a biotech stock with some pretty significant large trades. Time and sales data revealed several large long dollar delta trades made early in the morning, which rode the stock upward the rest of the day. We discussed the importance of dollar delta for market-makers and how we can combine it with the total premium to develop a trading thesis. Due to the risky nature of biotech stocks, we turned to Moderna’s closest SPDR sector ETF, XLV, to scan for options trades with a bullish outlook - eventually finding and trading a short put spread.
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The opinions and ideas presented herein are for informational and educational purposes only and should not be construed to represent trading or investment advice tailored to your investment objectives. You should not rely solely on any content herein and we strongly encourage you to discuss any trades or investments with your broker or investment adviser, prior to execution. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. Option trading and investing involves risk and is not suitable for all investors.
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