Periscope FAQ

What is the difference between Periscope and the existing greek exposure?

Periscope is based on a unique SPX data set, updated every 10 minutes, with verified details simply not available for other securities. This level of clarity allows the positioning and greek exposure in Periscope to far exceed what is possible elsewhere.

Why should I pay extra for Periscope?

Periscope reveals actual Market Maker net positioning and net greek exposure in SPX with updates delivered every 10 minutes. This level of clarity is not possible in most securities and goes beyond the modeling assumptions used elsewhere on Unusual Whales.

If your trading focus does not include S&P 500 products like SPX, SPY, or XSP directly (or significant beta to that index), then Periscope might not be worth the investment.

But if the S&P 500 products themselves and / or indices with a lot of overlap like NDX and QQQ are central to your strategy, then the actionable insight you get through Periscope makes its cost a small investment compared to the edge it provides.

Will a Periscope-type view be made available for tickers besides SPX?

No. The special characteristics of SPX index products makes this kind of data processing and analysis possible, but these characteristics are unique to SPX.

Do lifetime subscribers need to pay for Periscope?

Yes. Many lifetime subscribers understandably expect all-inclusive access to Unusual Whales’ tools, but the exchange-verified Market Maker positioning data is a new endeavor beyond what we even thought possible when we offered lifetime subscriptions.

Since we cannot afford to add Periscope to existing lifetime subscriptions, we made the month-to-month subscription as affordable as possible to ensure you can try it in a low pressure context.

What do the dots represent on the Periscope greek exposure chart?

Each dot represents the value of the greek exposure bar from the last 10-min slice. This allows you to quickly assess how net Market Maker exposures are changing throughout the day.

My Periscope view is broken!

Before you reach out for assistance, remember that the SPX index price is only active and available between 9:30AM and 4:00PM eastern. (This period is frequently referred to as the “cash session”.) Option trading in SPX does occur overnight, but in exceedingly small volume compared to the cash session. This means that the gamma and charm bars are unlikely to change enough to produce a visible difference.