You don’t need to be an options trader to find options data useful. Many traders don’t use options but do utilize the information in order to inform their trading decisions. Paying attention to unusual option alerts can give you an idea of patterns and what traders with big money think of the stock. Keep reading to learn the three different ways you can access options information in Benzinga Pro.
What are Options?
Options are contracts that give you the right to buy or sell a stock at a predetermined amount by a certain date. It should be noted that it gives you the right to do this, but you are not obligated to do so. If you want to use the contract, you must do so by the expiration date.
There are two types of options contracts—puts and calls. Puts allow you to sell shares, and calls allow you to buy shares. Each contract is for 100 shares.
Read More: How to Understand Option Alerts
How to Find Options in Benzinga Pro Using the Newsfeed
In the Benzinga Pro Newsfeed, there is a source called Benzinga Signals. This is different from the Signals tool and includes things like options alerts, trading halts, highs/lows, and block trades. You can filter this tool to your needs, so you can only see option alerts, and filter it down even further to fit your trading strategy.
Here’s how to set up your Newsfeed for option alerts:
- Open a Brand New Newsfeed
- Select the Benzinga Signals Source
- Enter Keyword: Option Alert
- Add in further filtering using categories, sectors, or watchlists, if you wish
- Turn on desktop notifications if you wish
Read More: How to Use Signals in Benzinga Pro
How to Use the Signals Tool for Unusual Options Activity
Another tool in Benzinga Pro is the Signals tool. This tool has premium data, so the Options Activity data is available as an add-on.
For this tool, all you have to do is open it up and select Option Activity. From there, you can keep it as is and have a running feed of unusual options activity, or you can add filters such as your watchlist, fundamental data, price, volume, and more. You can also choose from desktop notifications, sound alerts, or synthesized voice alerts if you wish.
Read More: How to Find Unusual Options Activity
Using the Calendar Tool to Find Options in Benzinga Pro
The last place in Benzinga Pro you can use to find options is the Calendar tool. This also requires the premium options data add-on and is great to get a historical record of options trades.
To set it up, you just need to open the Calendar tool and select the Unusual Options Activity calendar. You can also add filters, change dates, or Watchlists to refine your results.
Read More: How to Use the Benzinga Pro Calendar Tool
Final Thoughts
No matter what way you're looking to find options information, Benzinga Pro has a way for you to see it. If you haven't tried Benzinga Pro yet, click here to start your free, two-week trial.
Disclaimer: Benzinga is a news organization and does not provide financial advice and does not issue stock recommendations or offers to buy stock or sell any security. Benzinga Pro is for informational purposes and should not be viewed as recommendations. Benzinga Pro will never tell you whether to buy or sell a stock. It will only inform your trading decisions. You can find our full disclaimer located here.
About Dan Schmidt
Dan Schmidt is a finance writer passionate about helping readers understand how assets and markets work. He has over six years of writing experience, focused on stocks. His work has been published by Vanguard, Capital One, PenFed Credit Union, MarketBeat, and Fora Financial. Dan lives in Bucks County, PA with his wife and enjoys summers at Citizens Bank Park cheering on the Phillies.