SpyGate ended the day Thursday with 121 program trades detected. A moderate program day. The buy-side outpaced the sell-side by quite a bit. A deficit of $2.1B for the buy-side was the net outcome of all the trades with about $20B in trades detected.
A sell program was the first program trade of the day post opening. The sell program fired off 10K trades on 305 symbols with $202M traded. The morning was slow with buy programs firing every hour. Another large sell program fired at 11:31. Shortly after noon, the SP500 price resumed its upside momentum. That upside was challenged during the Final-2 when early MOC indications came out negative. The actual MOC as neutral and buy programs celebrated into the close.
Price Action During Program Trades
During the Final-2, buy programs significantly outweighed sell programs. The SP500 ended the day on new highs.
SpyGate detects several different types of programs trades. An STT program is a simultaneous triggered trade. The detector looks for a basket of symbols trading at the same time. The price action around these detected trades helps us deduce if the program was a buy or a sell. Our detector reports the number of symbols in the trade, the number of individual trades executed, and the dollar amount of those trades.
What is SpyGate?
SpyGate is a proprietary tape reader that analyzes price action on all the exchanges and sniffs out unusual trades. The detector follows price action and accumulates adaptive knowledge using Machine Learning (ML) and Artificial Intelligence (AI) to recognize algorithms and program trades as they execute. The first implementation detects STT Programs ( Simulatanousely Triggered Trades). These basket trades execute thousands of transactions in miliseconds. The transactions are in millions of dollars. This product is under heavy development and is currently available free for our traders in our TradeChat trading room along with the MiM and live breaking news. You can join us by purchasing a subscription to the MiM.