LiHongwei-cn Options Flow Analyzer
Analyze options chain data with real vs lottery call separation — the key insight that prevents P/C ratio misinterpretation. Uses Polygon.io API.
When to Use
- Use when raw put/call ratios appear bullish or bearish but may be distorted by cheap deep OTM contracts.
- Use when comparing options flow across watchlists, holdings, sectors, or event-driven names.
- Use when you need to separate institutional hedging from speculative lottery-ticket activity.
- Use when tracking options anomalies against a recent baseline.
What it does
Standard P/C ratio analysis is misleading. A P/C of 0.35 looks "extremely bullish" but may be 84% lottery calls ($0.01-$0.09 OTM options).
This skill separates:
- Real calls: Strike price within 5% of stock price, meaningful premium
- Lottery calls: Deep OTM, cheap premium, speculative bets
- Real puts: Actual hedging activity
- Lottery puts: Cheap downside bets
Analysis Output
For each ticker:
- Real P/C ratio (excludes lottery noise)
- Lottery percentage (what % of volume is speculation)
- Per-expiry breakdown (weekly vs monthly vs LEAPS)
- Anomaly detection: P/C shifts >0.3, Call OI surges >30%, IV spikes >20%
- Sentiment classification: Bullish/Bearish/Neutral with confidence
Example Output
Options Flow Summary — 2026-05-13
HOLDINGS:
CEG $299.69 | Raw P/C: 1.06 | Lottery: 61% | Adj P/C: 2.72 BEARISH (was neutral raw)
IREN $55.15 | Raw P/C: 0.83 | Lottery: 34% | Adj P/C: 0.55 BULLISH
KTOS $56.99 | Raw P/C: 0.53 | Lottery: 28% | Adj P/C: 0.38 EXTREME BULLISH
RXRX $3.26 | Raw P/C: 0.38 | Lottery: 84% | Adj P/C: 2.37 BEARISH (was extreme bullish raw)
SECTORS:
XLI | Raw P/C: 5.32 | Lottery: 8% | Adj P/C: 4.89 INSTITUTIONAL HEDGE
ANOMALIES:
XLI: P/C 5.32 vs 30-day baseline 0.87 — 4.5 std deviations above normal
RXRX: 84% lottery calls — raw P/C signal completely inverted after filtering
Configuration
Analyze options flow for my watchlist:
Holdings: CEG, IREN, KTOS, RXRX, TEM
Sectors: SPY, QQQ, XLI, XLK
Separate real vs lottery calls (threshold: premium < $0.10, delta < 0.05).
Flag anomalies vs 30-day baseline.
Requirements
- Polygon.io API key (free tier covers basic data; paid tier for full chain)
- WebSearch for cross-verification
Limitations
- Options data can be delayed, incomplete, or unavailable depending on the Polygon.io plan.
- Heuristics such as premium and delta thresholds need adjustment for ticker price, volatility, and expiry.
- Sentiment classifications are analytical signals, not financial advice or trade recommendations.
- Always cross-check unusual flow against price action, news catalysts, liquidity, and risk controls.
Key Discovery
This real/lottery separation was discovered during live portfolio management when RXRX showed P/C 0.35 (looks extremely bullish) but was actually 84% lottery calls at $0.01-$0.09. The "bullish signal" was noise. This skill prevents that mistake.
Pricing
Free: Basic P/C ratio for 3 tickers Full bundle — $29 one-time: Real/lottery separation + anomaly detection + per-expiry + unlimited tickers → https://jaehyunpark.gumroad.com/l/tcyahy
Author
Built from a real trading mistake that cost money. The real/lottery discovery is documented and battle-tested across 17 tickers over 2+ months.