Options order flow tools have been a buzz as of late, especially given the rise in retail market participation. Such tools can provide participants more information with respect to bets on future market movement.
One provider of this data is TradingFlow. Benzinga chatted with the firm’s founder Evan Zhou to learn more.
Core Product: Founded in 2021, TradingFlow specializes in low-cost options insights.
For about $50 per month, users get access to real-time and historical options flow, advanced trade filters, unusual volume data, open interest changes, advanced market analysis, education, chatrooms and more.
Zhou, who was previously a software engineer in Amazon Inc’s (NASDAQ:AMZN) AWS department, traded stocks and options for added portfolio alpha.
After a while, he learned about the potential predictability of options order flow and so he set out to build a platform.
“I wanted to combine my engineering experience with my trading experience,” he said. “So, I built the platform and now can help my customers find patterns and trade ideas from options data.”
Differentiator: TradingFlow is one of many options order flow tools on the market. When asked about how his solution is different from others, Zhou said it comes down to data analysis.
“The problem is that some are weak in their data analysis,” he said. “I built the options flow and data analysis dashboards. We can show for different metrics – bearish and bullish – for different tickers, across multiple days, because we aggregated flow data and added alerts.”
Also, the platform lives on the cloud and this keeps the platform fast and low cost for end-users.
“I think our pricing is very competitive because we have that cloud computing” component.
Innovation Outlook: In empowering traders with actionable market insights, the company plans to continue rolling out new features. Development is driven by user feedback.
“We’re trying to build out our Discord and add a bot for free to our community,” Zhou said on engaging with new and existing users. “We’ll give out signals for free … and educate, as well, on YouTube and in blogs.”
When asked about development obstacles, Zhou explained that much of the project has been self-funded, and to bolster further growth, he may look to outside money.
“That’s one way we can try to build our project and increase revenues.”
To learn more about TradingFlow, click here.
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