What is SparkEdge?
SparkEdge is Astre's proprietary 0–100 composite score for options opportunities. It synthesizes multiple independent options-specific signals — IV environment, order flow, Greeks profile, signal tags, and unusual activity — into a single number that quantifies how favorable the current conditions are for an options trade on a given ticker.
Where SparkScore focuses on the stock itself and the directional signal, SparkEdge is specifically designed for the options layer: evaluating whether the options market environment — volatility pricing, order flow, and Greeks — is set up for a high-probability trade. A ticker can have a strong SparkScore (directional signal) and a weak SparkEdge (poor options environment), or vice versa. The most compelling opportunities often show strength in both.
SparkEdge is a proprietary 0–100 metric for options opportunities. Astre provides intel, not advice.
What Factors Go Into SparkEdge?
SparkEdge is built from five factor categories, each computed independently from live options market data:
IV Rank (IVR)
Where current implied volatility sits relative to the 52-week range, on a 0–100 scale. High IVR (above 50) boosts SparkEdge for premium-collection setups, reflecting an environment where selling IV is structurally advantaged. Low IVR depresses SparkEdge, signaling that selling premium is less favorable. See the IV Rank glossary entry for a detailed explanation.
Options Flow
The character and directional bias of recent options order flow. SparkEdge analyzes the ratio of bullish to bearish flow, the presence of large block trades or sweeps, and whether the flow has been predominantly buy-side or sell-side. Sustained one-directional flow from large participants can be a leading indicator, and SparkEdge incorporates the recency and magnitude of that flow activity.
Greeks Profile
The aggregate Delta, Gamma, Theta, and Vega characteristics of the most active options contracts on the ticker. A Greeks profile that is favorable for the type of trade signaled — for example, a high-Theta, defined-risk profile for a credit spread in an elevated IVR environment — earns a higher factor score. Extreme Gamma exposure (often from near-expiry contracts) and unfavorable Vega positioning both push this score down.
Signal Tags
Categorical flags derived from pattern recognition across the options chain: sweep activity, block prints, repeat flow, opening vs. closing transactions, multi-leg structure detection. The presence of multiple signal tags on the same ticker — for example, a sweep accompanied by repeat follow-on flow — is treated as a stronger signal than a lone isolated event.
Unusual Options Activity
The ratio of current options volume to average daily volume, with additional weighting for open interest changes relative to volume. Significant spikes in options volume — particularly when concentrated in a specific expiration and strike — can indicate informed positioning. SparkEdge captures the magnitude and specificity of that activity relative to the ticker's historical baseline.
How to Read a SparkEdge Score
Like SparkScore, SparkEdge is most useful as a relative ranking tool within the Options feed, allowing you to quickly identify which tickers are presenting the most aligned opportunities at any given moment.
How SparkEdge Appears in the Options Feed and Alerts
The Options feed in Astre ranks tickers by SparkEdge score in real time. As new options transactions, IV readings, and flow data arrive throughout the trading day, scores are continuously recalculated and the feed re-ranks accordingly. A ticker that opens the day with a moderate SparkEdge of 55 can climb to 82 within an hour if significant sweep activity arrives on top of an already elevated IV environment.
Each ticker row in the Options feed displays the SparkEdge score alongside the underlying's SparkScore, so you can see both the options environment and the directional signal at a glance. Tapping into a ticker's detail view shows you the individual factor scores that make up the SparkEdge composite — giving you full transparency into what's driving the number.
Alerts: Astre lets you set SparkEdge alert thresholds on individual tickers or across your entire watchlist. When a ticker's SparkEdge crosses above a level you define — for example, crossing from below 60 to above 75 — you receive a push notification. This is particularly useful for catching setups that develop intraday as flow accumulates or IV spikes on news.
You can also pair SparkEdge alerts with IV Rank crossovers: get notified when a ticker's IVR crosses above 50 and its SparkEdge is above 65, so alerts only fire when both the volatility environment and the multi-signal composite are aligned simultaneously.
Combining SparkEdge with SparkScore: The highest-conviction options trades typically arise when SparkEdge is elevated (strong options environment) and SparkScore is aligned in a clear direction. A high SparkEdge in a neutral-SparkScore ticker suggests premium collection strategies like iron condors. A high SparkEdge paired with a high SparkScore points toward directional credit or debit spreads with tailwinds on both dimensions.