In the dynamic and complex world of professional crypto derivatives and options trading, traders rely heavily on market data to make informed decisions. One of the key tools any options trader needs in their stack is a crypto options scanner. For smaller organizations or institutions just beginning their foray into cryptocurrency, free scanners may seem like an attractive choice at first glance. However, these free tools often fall short in delivering the comprehensive data and robust analytics capabilities that professional traders require.
Crypto options scanners are designed to help traders analyze the trading activity of cryptocurrency options in real-time or over a given historical date range. These tools aggregate data from multiple exchanges, providing a consolidated overview of market activity.
Free options scanners are often limited in the analytics they offer, which can stunt institutional traders.
Paid, or premium options scanners offer more comprehensive datasets that provide analytics beyond simple measures of price and volume.
As part of our crypto options analytics suite, Amberdata’s options volume scanner API endpoints offer a robust set of features for analyzing and monitoring options trading activity:
Net Volume Gvol Direction (real-time and historical) – Provides the cumulative volume of trades during a given period.
Historical Constant Butterflies Minute – Shows butterflies of different delta at 1-minute granularity.
Net Positioning Gvol Direction (real-time and historical) – Calculated with Amberdata’s proprietary “taker detection”, this endpoint provides cumulative net OI for a given period.
Block trades –This endpoint returns the volume, net premium, net vega, and other key details of block trades.
Block trades BV and on screen BV – These endpoints provide a detailed flow for block trades and on screen trades.
Gamma USD normalized – This endpoint offers the other side of dealer gamma exposure by showing the impact in terms of $Mil notional in the underlying for a 1% move in spot prices.
By leveraging a premium scanner's capabilities, traders can gain valuable insights into market trends, sentiment, liquidity, and risk. In turn, enabling them to analyze and anticipate market trends and adjust their strategies accordingly.
While measures of volume (e.g., tick-by-dick trade data, OHLCV) have many applications in trading strategies, these metrics don't fully capture the nuances of crypto options like an options scanner. With our scanner endpoints, users can gain additional insights such as:
Institutional traders, who operate in a high-stakes, fast-paced environment, need reliable tools that equip them with a comprehensive understanding of the market. Free crypto options scanners generally prove inadequate in this regard due to several key limitations.
Incomplete Data Coverage: Free scanners typically offer limited datasets, resulting in a lack of crucial insights. This information gap can lead to missed opportunities and misguided decision-making, adversely impacting a trader's success.
Lack of Robust Analytical Tools: Advanced analytics tools are essential for institutional traders to conduct in-depth market analysis, identify trends, and formulate effective trading strategies. Free scanners, however, often lack these features limiting traders' ability to fully understand and leverage market dynamics.
Security: Free options scanners may pose security risks as they may be vulnerable to cyber-attacks or exploit user data for profit. Institutional traders cannot afford such risks and require a secure platform to keep themselves and the organization safe.
Lack of tech standardization: Organizations often require a consistent tech stack across an entire team or department to ensure smooth collaboration, accuracy, cohesion. If multiple scanners are used across an organization, it opens the team up to the risks of inefficiencies and potential errors.
This is where premium crypto options scanners come into play.
While free crypto options scanners may seem appealing due to their zero-cost factor, they often fall short in fulfilling the needs of institutional traders. Pro-level options scanners like Amberdata’s enable traders to conduct in-depth market analysis, manage risk effectively, and stay ahead of shifting markets. Our proprietary metrics and advanced analytics tools are built by experienced traders, for experienced traders.
To learn more about how our crypto options analytics can support institutional traders, get in touch to book a demo.