'Bzz…Bzz…Bzz,' time to wake up! You roll over and check your alarm clock, but it’s only 3:30AM...So what woke you? BOB the Trader of course!

BOB the Trader is furiously publishing out the live trades of our very own Tom Sosnoff. Short Nasdaq Futures (/NQ), Long Gold futures (/GC), and more! This can mean only one thing…the markets are moving in the overnight session.

BOB the Trader is constantly updating with real-time market activity from Tom (24/5). The brilliance of BOB the Trader is that no matter what size account you have, no matter whether you trade futures or only trade options, you will find loads of value and trade inspiration in the BOB app!

You may be wondering...how do I take full advantage of the BOB app?

Well, here you go!

Here are 3 advantages that using Bob gives you over the poor traders who are not using the app.

1. Be the First To Know When the Markets Are Moving

So, we already alluded to this, but if BOB is a-buzzin', you can bet that the markets are a-movin'! As you may know, the futures market opens up at 5pm on Sundays, but on Sundays, many of us are spending time with our family, watching Jay Cutler throw interceptions, or catching up on the latest episode of the Skinny On Options Math.

Often times when the futures markets open at 5pm on Sunday, the open of the market is uneventful. i.e. The E-mini S&P 500 futures (/ES) may be up 0.50, or the E-mini Nasdaq Futures (/NQ) may be up 2.00.

Occasionally however, things start moving a little more...Bond futures (/ZB) may drop two points or Gold futures (/GC) may jump up 20 points. You know if it’s moving, Tom is watching it and likely placing a trade!

Many tastytrade viewers are not full-time traders, therefore then may have jobs with schedules that do not allow them to be around a computer all day to watch the markets. If that sounds like you, having a full time job used to mean that you could easily miss the 8:30CST open...but not if you have BOB! You will see trades start firing off seconds or minutes after the market opens. Seeing that “Tom just sold an AAPL call” can serve as a friendly reminder that it’s now past 8:30CST and the options are now open.

One last way you can use Bob to gauge the market is to note the number of BOB notifications on any given day. This can be a good indication of overall market activity. If Tom is trading a lot, it’s likely the markets are moving and it may be a good day to check positions more frequently. On the other hand, if BOB pushes out a short market trade, S&P or Nasdaq futures, and then not much else, the market is probably is having a low volume, "inside day."

2. Find New Underlyings To Trade

As a new trader, once you learn to understand the mechanics of options and the different strategies, you can start trading and assessing what is working for you and what is not working. Most of us start by trading products we are familiar with and use on regular basis - for me this would be something like Facebook ($FB), Apple ($AAPL), or even Target ($TGT).

The problem with only trading products I am familiar with is that after awhile, these products may not meet the conditions I require to place a trade.

So then what?

Well, thats where BOB comes in. BOB is a great source of inspiration for expanding the scope of products that you trade. You can guarantee that Tom will be placing trades in underlyings with high liquidity, at a price extreme, and/or has high implied volatility.

Keep in mind that not all of Tom's trades may not be in play for you as your ability to place the same trade lies in your account size, margin level, or risk tolerance. If you cannot copy a trade exactly, what you can do instead is take the underlying Tom is trading and adjust the strategy to better suit your account (if you ever need help doing this, you can reach out to us at research@tastytrade.com).

3. Earnings Trade Inspiration

Okay so this point ties into the last one, but it is still worth mentioning. During earnings season, often in the last hour of the trading day, Tom will typically push out trades on underlyings he doesn’t typically trade. These are generally earnings trades in which the stock has an impending earnings announcement either that night or the next morning.

Some stocks are more likely to be on Tom's radar during earnings season that are not when earnings are over - like blue chip stocks that he typically steers clear of. Even stocks with less liquid options may be on the table during earnings, which you will see on Bob.

When you're looking for some earnings inspiration, you can turn to the talking heads who never seem to agree on anything, or you can look to a real source of trade insight and inspiration - Bob!

Conclusion

So there you have it: 3 advantages that having tastytrade’s BOB the Trader gives you over other traders. One last thing to mention...

Bob is available on nearly every device you could imagine!

You can download it on:


Have questions about Bob the Trader? Email them to our support team at support@tastytrade.com or tweet them to us @tastytrade!