Watcher

Also called Alert rule, price alert, level alert

A standing rule over one ticker, written in plain words, that sends an alert, with the levels around it, when it fires.

A watcher is a rule you write in plain words ("Tell me when SPY loses zero gamma") that Theta Vantage turns into one exact condition and checks on every snapshot of the ticker and, for price rules, its trades. When it fires, you get an alert: a headline saying what happened and a line with the levels around it.

What it can watch

Price crossing a level (zero gamma, a wall, max pain, an edge of the expected move, or a price), a level moving, dealer gamma turning (regime), IV rank crossing a number, a large flow, drift turning, and earnings coming up.

How it behaves

A watcher fires on a cross it saw happen, not on the state it found when you saved it. It fires once per cross, and again only after the price has gone back to the other side, stayed there for 15 minutes, and crossed again, so chop around a level, a quick return, or one odd trade doesn't repeat it. Moves and turns have to hold for two snapshots. Each watcher sends at most five alerts a day.

In Theta Vantage

The Watchers page, the alerts bell in the top bar, notifications in your browser, and email where it's available. Free keeps 1 watcher, Pro 25. Athena can write one for you and saves it after you agree.