Glossary
Premium size
The total dollars spent on a trade — the headline conviction number.
What it is
Premium is the total dollars on a trade: contracts × price × 100. It is the size of the bet.
Why it matters
Big premium is the tell. A $2M sweep means someone with real money has a real opinion — that is why we rank by it. Bigger premium usually means smarter money: institutions actually care about trades this size, retail rarely puts $500K+ on a single options print.
How to use it
The Unusual Activity feed surfaces trades with large premium because those are the ones worth following. When scanning the Heat Map or Live Flow, sort by premium to find the heavyweight institutional flows — a $100K print and a $2M print are not the same kind of signal.
Where you will see it
- Unusual ActivityProprietary scoring on volume-to-OI, premium size, and bid-ask execution flags the trades that matter: 85+ is significant, 95+ is institutional-grade.
- Live FlowThe raw tape as it prints. Filter by premium, score, DTE, and trade type to watch flow build on a single name in real time.
- Heat MapA visual grid of where premium is concentrating across the market right now, so rotation and crowding jump out at a glance.