Is there any Usual Whales volume related to SPX trades today?
Steps
Sources
Answer
Reasoning
DEEP RESEARCH ON: SPX Whale Activity and "Usual Whales" Clarification
EXECUTIVE SUMMARY
- No verified "Usual Whales" data exists; the term likely refers to "Unusual Whales," a recognized platform for tracking large options trades.
- Significant SPX options activity occurred on May 13, 2025: 67 orders, 31,084 contracts, and $594.55 million notional value.
- SPX index performance: Closed at 5,892.44 (+0.65% from open), with high volume (2.29 billion shares traded).
- Key insights: Whale activity aligns with bullish sentiment amid easing US-China trade tensions, but volume represents a moderate fraction of total SPX options liquidity.
MAIN REPORT
1. Data Overview
| Metric | Value | Notes |
|---|---|---|
| Date | May 13, 2025 | Market date |
| SPX Options Orders | 67 | Number of SPX options orders |
| SPX Options Volume | 31,084 contracts | Total contracts traded |
| SPX Options Notional Value | $594.55 million | Approximate dollar value traded |
| SPX Index Closing Price | 5,892.44 | Market close |
| SPX Index Volume | 2,292,715,000 shares | Total shares traded |
Key Observations:
- Whale activity concentrated in SPX options, with no direct reports from a platform named "Usual Whales."
- SPX options volume is notable but moderate relative to typical daily liquidity (often hundreds of thousands of contracts).
2. Market Context
- SPX Performance: Gained ~0.65% on May 13, with prices ranging from 5,845.02 to 5,906.47.
- Macro Drivers: Positive investor sentiment linked to easing US-China trade tensions and optimism for US equities.
- Whale Sentiment: Bullish positioning inferred from high notional value, but call/put distribution remains unclear.
3. Critical Analysis
Terminology Clarification:
- "Usual Whales" is not a recognized data source; "Unusual Whales" is the established platform for tracking large options trades.
- Confusion may stem from similar naming conventions in whale-tracking services.
Volume Significance:
- $594.55 million notional value reflects institutional or large trader activity but represents a fraction of SPX options’ typical daily volume.
- Strategic intent (hedging vs. speculation) requires analysis of call/put ratios and strike prices.
Volatility and Macro Context:
- Cross-referencing with VIX movements on May 13 could clarify risk sentiment (e.g., rising VIX might indicate hedging despite bullish SPX moves).
- Broader institutional positioning in SPX futures and ETFs (e.g., SPY) should be analyzed for alignment with options activity.
4. Next Steps for Deeper Analysis
- Options Flow Breakdown: Obtain call/put distribution, strike prices, and expiration dates from Unusual Whales or WhaleStream.
- Volatility Correlation: Analyze VIX movements on May 13 to assess hedging vs. speculative activity.
- Institutional Positioning: Review SPX futures and SPY ETF volume to identify coordinated bets.
- Macro News Alignment: Investigate earnings, economic data, or geopolitical events influencing options activity.
CITATION MANAGEMENT
- WhaleStream Top Options Flow - May 13, 2025
- Yahoo Finance - S&P 500 Index Summary
- Unusual Whales Documentation - Flow Tool FAQ
- CBOE Volatility Index (VIX) Overview
CONCLUSION
- No "Usual Whales" data exists; whale activity is confirmed via "Unusual Whales" and WhaleStream.
- SPX options volume reflects moderate whale participation amid bullish market conditions.
- Further analysis required: Call/put breakdown, VIX correlation, and institutional positioning to contextualize strategic intent.
Disclaimer: Options flow data may exclude off-exchange trades, and notional values are approximations. Market impact depends on execution and hedging strategies.