When unusual options activity shows up in the market, it often raises an important question: What are sophisticated traders trying to accomplish—and what can you learn from it? Large put spread trades, in particular, can offer useful context about market sentiment, risk management, and how institutional participants may be positioning themselves.
In this webinar, you’ll see how Market Chameleon’s Bull Put Spread Screener helps you quickly identify these trades and break them down into meaningful insights. Instead of manually scanning chains or guessing at intent, you can use structured analytics to understand valuation, historical behavior, and potential payoff outcomes—all in a few clicks.
Tool Used:
https://marketchameleon.com/Screeners/BullPutSpreads
The screener allows you to filter the entire options market for sizable put spreads and view the trades in a clean, structured format. You can immediately see which symbols are attracting meaningful activity and which spreads stand out based on size, notional value, or pricing characteristics.
When you’re trying to understand whether a trade reflects a directional view, income-focused structure, or a hedge, this visibility becomes extremely useful.
Once you’ve isolated an interesting trade, the next step is understanding its structure. The screener breaks out:
Trade size and notional value, helping you gauge whether the activity may be institutional
Strike and expiration selection, giving you clues about the risk-reward balance
Execution characteristics, including whether the spread traded at the bid, mid, or ask
These details help you form a clearer picture of what type of trader may have initiated the position and how aggressive the execution appears to be.
A powerful part of the screener is the built-in valuation metrics. You can examine whether the put spread appears rich or cheap compared to historical tendencies and theoretical values. You’ll also see how its pricing compares to past distributions, helping you understand how today’s trade fits into a broader context.
For traders looking to determine whether a spread’s premium is elevated relative to typical volatility patterns, these tools provide a quick way to anchor your analysis in data rather than assumptions.
The webinar also demonstrates how to look at historical performance of comparable spreads. You can explore:
Win/loss frequencies
Average and median outcomes
How similar structures behaved in previous market environments
Alongside this, payoff diagrams let you visualize potential scenarios—helping you understand the structure’s exposure, breakeven level, and how far the underlying would need to move for the spread to benefit or deteriorate.
These aren’t predictions; they’re frameworks to help you evaluate setups in a consistent, disciplined way.
Large put spreads can signal a variety of intentions—ranging from bullish-leaning income strategies to risk-defined hedges. By using Market Chameleon’s screener, you can see how these trades fit into the broader options landscape and use that context to guide your own research.
Rather than reacting to headlines or assumptions, you gain a structured method to examine the positioning taking place behind the scenes.
If you want to explore large put spreads across the market and apply the same workflow demonstrated in the webinar, you can access the screener here:
?? Market Chameleon Bull Put Spread Screener
https://marketchameleon.com/Screeners/BullPutSpreads
Market Chameleon is not a registered investment adviser or broker-dealer. This content is provided for informational and educational purposes only and should not be considered investment advice or a recommendation to buy or sell any security, strategy, or financial product. Options trading involves significant risk and is not suitable for all investors. Always conduct your own research or consult a licensed financial professional before making trading decisions.