A catalyst is the news reason behind the activity — earnings, an analyst rating change, an SEC filing, a merger, a product event. It's the "why" that turns abstract flow into a story you can actually reason about.
Flow plus a catalyst is far more interesting than flow alone. When unusual activity lines up with a fresh catalyst, it suggests positioning around a known event rather than random noise.
Related terms
- Unusual options activity — Options volume well above a ticker's normal level. A prompt to look, not a direction.
- Bias (bullish / bearish / neutral) — Our read of which way the flow leans. Context, not a guarantee.
- Implied volatility (IV) — The market's expected size of future moves, priced into options. High IV = a wide move priced in.
See it in the flow
Open the dashboard to watch real options flow free, or read the beginner guides. Watch-only — not financial advice.