How Options Recon works, in 4 steps
Good morning.
A lot of you asked what actually happens between "a fund places an order" and "a card shows up on the board." Here it is, in four steps.
1. Watch the tape. All session long, the engine watches about 180 of the most liquid tickers and pulls every trade on any contract where the day's volume is unusual.
2. Rebuild the orders. Prints that land within seconds on the same contract, across several exchanges, are stitched back into the single order they came from.
3. Throw out the noise. Spreads and hedges are removed entirely. Only one-sided money counts, and only when it is big for that ticker: a quarter million is huge on a small stock and a rounding error on NVIDIA.
4. Score and rank. Each bet gets a Conviction Score for how bold it is: size, one-sidedness, and how aggressive the strike is for the time left. The top five make the board.
That is the whole machine. What you see is five cards and a score. What it replaces is hours of reading the tape.
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The Find Better Trades Team