Trading that takes place outside the public order book, often via direct negotiation or in dark pools.
Common for: Large institutional block trades.
Trading done directly between parties without using a formal exchange.
Examples: FX, some derivatives, bonds.
Pros: Flexibility, customization
Cons: Less transparency, higher counterparty risk
The lowest price a seller is willing to accept for a security. Opposite of: Bid Price
Trading that occurs on a regulated public exchange, such as the NYSE or LSE.
Offers: Transparency, price discovery, and regulatory oversight.
The total number of outstanding derivative contracts (options or futures) that haven’t been settled.
Indicator of: Market activity and liquidity.
An order that remains active until it is either filled or canceled.
Types: GTC (Good Till Cancelled), Stop Orders.
A derivative that gives the buyer the right—but not the obligation—to buy (call) or sell (put) an asset at a specified price before a certain date.
Used for: Hedging, speculation, income strategies
Key Terms: Strike price, expiration, premium
A list of all available options contracts for a specific security, organized by strike price and expiration date.
Recognize setups like triangles, flags, and wedges—Hammer Pro highlights them for you.
Protect your portfolio using puts, calls, or spreads. Set up automated alerts for hedge signals.
Collect premiums (selling) or chase big moves (buying). Scan option chains and monitor trades live.
Evaluate every angle — risk, reward, probability — using Hammer Pro’s analytics tools.
Create, test, and visualise multi-leg options trades before you commit. Hammer Pro’s strategy builder simplifies the process.
Visualize option price, volume, and open interest. Use Hammer Pro’s interactive charts for smarter analysis.
Interpret market moves visually—overlay technicals on any options chart.
Dive deep into historical and real-time data to refine your edge.
Apply indicators and chart patterns directly to options data—spot entry and exit signals in real time.
See all available options at a glance—filter by volume, open interest, and price. Hammer Pro keeps you ahead.
An agreement that gives the holder the option but not the obligation to buy or sell an underlying asset at a fixed price until or on a specific date. The holder is the trader who buys the contract and the writer is the trader who sells the contract. The two most common types of options contracts are put and call options, which give the holder the right to sell or buy, respectively, the underlying asset.
Profit from volatility, direction, or time by combining different options contracts. Hammer Pro’s scanners help you find the perfect setup.
A real-time, electronic list of buy and sell orders for a particular asset, organized by price level.
Used by: Traders to gauge supply/demand and price trends.
Visible in: Lit markets
The exchange or venue in which the order is sent to be executed.
The sequence and volume of buy and sell orders in the market.
High-frequency traders (HFTs) and brokers often analyze order flow for edge or internalization.
Execute and track your trades efficiently — Hammer Pro integrates with leading OMS providers.
The software component of an exchange that pairs buy and sell orders based on price and time priority.
Various instructions attached to trade orders to control execution.
Common Order Types:
A decentralized market where trading is done directly between two parties without a central exchange.
Instruments: Bonds, derivatives, FX
Pros: Customization
Cons: Less regulation and transparency
The risk of adverse price movements occurring after market close, especially relevant in markets that are not 24/7 (e.g., stocks).