SweepCast Review – An In-Depth Look at This Unusual Options Scanner

About SweepCast

SweepCast is an unusual options order flow scanner. The platform offers a streamlined dashboard to help you monitor what institutional investors are doing. It also includes historical options order flow data and access to a trader chat room.

In our SweepCast review, we’ll cover everything you need to know about this platform to decide if it’s right for you.

SweepCast Pricing Options

SweepCast offers a single subscription tier that costs $39.99 per month or $249 per year. You can try out the platform for 10 days for $18, although this works out to be a more expensive per-day cost than a monthly subscription.

SweepCast Features

Unusual Options Order Flow

The unusual options order flow feed is at the heart of SweepCast. The feed shows unusual options orders in real-time, including the ticker symbol, strike price, expiration date, and total premium. In addition, SweepCast uses color-coding to display each trade’s type (block trade or sweep), whether each trade involves put or call options, and whether the trade sentiment is bullish, bearish, or neutral. SweepCast also issues a “SweepScore,” which is a visual indicator of how aggressive a trade is. 

By default, the feed shows all unusual options orders. However, you can sort by ticker symbol, filter to only tickers in your watchlist, or display only ETFs. You can also sort or filter the feed by any of the available data columns.

Notably, SweepCast enables you to export all data from the feed to a CSV file.

SweepCast also includes a market-wide tally of the put-to-call ratio and the percentage of bullish vs. bearish market sentiment.

Watchlist

SweepCast’s watchlist function is a highlight of this platform for how easy it is to use. You can click on any symbol in the unusual options order flow feed to add it to your watchlist. Your watchlist is available on the same dashboard, and SweepCast uses a color-coded display to quickly indicate whether options activity for each ticker is bullish or bearish.

Charting

SweepCast also enables you to explore technical charts right from the unusual options order flow feed. Simply click on the chart icon and a technical chart from TradingView will pop up on the screen. You have access to all of TradingView’s indicators, although you can’t save a default set of indicators to appear every time you open a chart in SweepCast.

FlowCast

SweepCast’s FlowCast dashboard ranks tickers by bullish and bearish order flow. It’s a useful tool for spotting tickers that are seeing unusually high options trading activity, especially in the first hour or two after market open. You can click on any ticker to see a full list of unusual options orders placed since market open.

Historical Flow

SweepCast offers 22 months of historical options order flow data. You can pull up data for any market day or date range in either the unusual options order flow feed or the FlowCast dashboard. Historical data can be exported to a CSV file.

Earnings Calendar

SweepCast also offers an earnings calendar, which shows all tickers with earnings before or after market open for a date of your choice. You can click on any ticker to see a list of unusual options orders.

Chat Room

SweepCast offers a built-in chat room so you can easily swap ideas with other traders. There are several channels available, including one for new users to learn how to use SweepCast, one for posting trade ideas, and one for posting trade results. 

The chat function is embedded into the unusual options order flow dashboard and can’t be popped out into its own window. The module is very small, which makes it a little difficult to use.

SweepCast Customization and Layout

SweepCast offers very few customization options aside from the watchlist, and you can only have one watchlist. The layout of the dashboard and unusual options order flow feed cannot be modified, and you cannot hide or pop out any modules into new windows. SweepCast also does not support alerts. 

SweepCast Platform Differentiators

SweepCast stands out for its simple, all-in-one options order flow dashboard. The platform’s color-coding and SweepScore bars make it very easy to spot options orders that are worthy of your attention. SweepCast also makes it simple to quickly filter the feed and monitor bullish and bearish sentiment on your watchlist. Integrated TradingView charts are also a plus, although it would be nice if they could be opened in another window rather than on top of the options order flow feed.

SweepCast’s chat room is also a differentiating factor for this platform. Similar unusual options order flow services like Unusual Whales and Optionsonar don’t have a chat room. While this isn’t essential, it can be a good way to generate trade ideas.

Importantly, SweepCast doesn’t offer dark pool prints at this time. The platform says that this feature is coming soon, but doesn’t provide an expected launch date. In addition, SweepCast doesn’t offer an in-depth options flow scanner beyond the filters provided in the unusual options order flow feed.

What Type of Trader is SweepCast Best For?

SweepCast is best for day and swing traders who want to use unusual options order flow data to monitor what institutional investors are doing.

The platform is easier to use and less expensive than competing scanners like Optionsonar. However, you miss out on dark pool prints, alerts, and advanced customization options. SweepCast may be better suited for traders who are using unusual options order flow data for the first time, while more experienced traders may prefer a platform with more scanning and analysis tools.

Pros

• Real-time options order flow feed with filters
• SweepScore indicates trade aggressiveness
• Integrated TradingView technical charts
• Color-coded watchlist in primary dashboard
• Built-in chat room with multiple channels

Cons

• Doesn’t support alerts
• No dark pool prints
• Very limited layout options