Independent comparison for prospective users. NoVo is not affiliated with the tools named, and features and pricing change — verify current specifics on each provider’s own site before subscribing.
Cheddar Flow is an options order-flow platform: real-time sweeps, blocks and unusual activity, presented so you can follow what large participants are doing. Traders who believe the edge is in following flow are its natural audience.
Following flow vs. reading positioning
Flow is a record of transactions. Dealer positioning is a map of obligations — what market makers must do to stay hedged as price moves. That is why hedging flows repeat around the same strikes: the behaviour is structural, not discretionary. Flow tells you what happened; positioning tells you where the tape is likely to be sticky.
The core difference: analytics vs. analytics + execution
Analytics products end at the insight. They show you the picture; you then carry it to a broker window and place the trade yourself. That handoff is where scalps die — you saw the level, then fumbled the strike, hesitated, or forgot the stop.
NoVo is an execution cockpit. It maps the structure — net GEX regime, the gamma flip, call and put walls, gravity, expected move — and when you decide to take the trade, executes it in one click inside your own brokerage account: strike selected, size set to your risk settings, protective stop armed, exit ladder attached.
Flow is a rear-view mirror with excellent resolution. Positioning is a map of the road ahead, and NoVo drives on it with you.
Where each fits
Choose a flow platform if your process is built on following large orders across many tickers. Choose NoVo if you want the structural read on SPY and the execution in the same place.
The honest caveats
NoVo is not a research terminal. It is built for SPY 0DTE/1DTE scalping, so if you want coverage across hundreds of tickers, equities screening or macro research, a dedicated analytics platform covers far more ground. NoVo does not remove risk either: options carry substantial risk of loss, nothing is guaranteed, and paper mode exists so you can test that for yourself. And it never enters a trade on its own — you click every entry. If you want something that takes positions unattended, this is not it.