Step One: Select the name you want to trade by typing it in the search field

• If you are looking for a new stock to trade, check the trending list or names that are moving.
• If you are looking for squeeze potential or expensive premium, check out the Scanners page for names our metrics have identified as interesting

Step Two: Look for when HIRO is nearing a Call Wall or Put Wall

• The Call Wall can reveal a line of resistance, and marks a top of if the HIRO indicator line flattens.
• The Put Wall can reveal a line of support, and this indicates a bottom if the HIRO indicator line flattens.

Step Three: Look to see if the flows are short-term or longer dated 

• Toggle the Next Expiry flow to assess short-term options buying.
• If the flow is primarily next expiry, we believe the stock’s price movement is less stable and prone to reversal.
• If the flow is primarily longer-dated options, this indicates a higher likelihood of more stable price action.

Step Four: Check for HIRO Flow Alerts, which indicate outsized options activity 

• When a flow alert goes off, wait for flows to “shut off” and look for reversals.

Step Five: Check the HIRO Signal gauge in the Stock Screener section 

• Check the range of HIRO over the last 30 days for any stock. The gray background represents the entire 30 day range, so look for coloration indicating where the buying or selling pressure has been for the last 5 days.
• If the bolded circle is towards either the right or left end of the gauge, that indicates HIRO is showing heightened buying or selling pressure compared to the last 30 days. This could indicate an event taking place.

SpotGamma Alpha subscribers can access the SpotGamma HIRO Indicator here.