MarketXLS

Unusual Option Volume Scan EOD

Scans the entire options market for individual contracts with unusual trading volume. This end-of-day scan identifies specific strikes and expirations with notable activity.

Parameters

Parameter Required Description
NumberOfRecords Yes Number of results to return
OptionType No All, Call, or Put (default: All)
Country No Country filter (default: US)
InstrumentType No All, Stock, or ETF (default: All)

What This Scans For

  • Individual contracts with unusually high volume
  • Volume significantly above historical average
  • Specific strike/expiration combinations
  • Potential smart money activity

Output Information

Returns specific option contracts including:

  • Full option symbol
  • Trading volume
  • Comparison to average
  • Related metrics

Notes

  • EOD scan captures full day's activity
  • Identifies specific contracts, not just underlying
  • Can filter by calls or puts for directional insight

Syntax

=opt_UnusualOptionVolScanEOD(NumberOfRecords, [OptionType], [Country], [InstrumentType])
Excel Desktop (Windows)

Parameters

numberOfRecordsnumberRequired
optionTypestring
countrystring
instrumentTypestring

Returns

array

Array of option contracts with unusual trading volume

Examples

=opt_UnusualOptionVolScanEOD(10)
Top 10 unusual volume contracts
=opt_UnusualOptionVolScanEOD(10, "Call")
Calls only
=opt_UnusualOptionVolScanEOD(10, "Put")
Puts only
=opt_UnusualOptionVolScanEOD(5, "All", "US", "Stock")
Stocks only
=opt_UnusualOptionVolScanEOD(5, "All", "US", "ETF")
ETFs only

When to Use

  • Find specific contracts with unusual activity
  • Identify potential catalyst trades
  • Analyze smart money positioning
  • Discover unusual trading at specific strikes
  • Screen for contract-level opportunities

When NOT to Use

Scenario Use Instead
Need underlying-level activity opt_UnusualStockOptionsActivity()
Need unusual OI scan opt_UnusualOptionOIScanEOD()
Need volume leaders by stock opt_OptionsVolumeLeaders()
Need volume change leaders opt_OptionsChangeInVolumeLeaders()

Common Issues & FAQ

What makes volume "unusual" at contract level?

Contracts are flagged when their volume significantly exceeds historical averages, often 3x or more than normal.

Why filter by calls or puts?

Filtering helps identify directional sentiment. Unusual call volume may indicate bullish bets, unusual put volume may indicate bearish bets or hedging.

How do I interpret these results?

Look at the volume vs average ratio. Also consider whether the activity was accompanied by OI changes (new positions vs closing).

Excel Templates Using Unusual Option Volume Scan EOD

These ready-made MarketXLS templates call opt_UnusualOptionVolScanEOD() in their worksheet formulas. Open one to see the function working inside a complete model.

Related Formulas

More MarketXLS Options formulas you can use in the same worksheet:

See opt_UnusualOptionVolScanEOD used in a complete workbook: MCP Options Order Flow Server: Read Options Flow in Claude and Excel (2026)

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