International Securities Exchange, Inc. - ISEE SELECT � Custom Sentiment Data
ISEE Select

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About ISEE Select
Subscription Fees  |  How to Subscribe  |  Alliance Program  |  System Requirements 

ISEE SelectTM uses the same calculation methodology as our well-respected ISEE Sentiment Index®, which has been favorably reviewed in many financial and investment publications including Barron’s, The Wall Street Journal, Business Week and Schaeffer’s Investment Research. Unlike the traditional put/call ratio, the ISEE Select sentiment is based on opening long customer transactions only.  Trades by market makers and firms are excluded as these tend to skew sentiment value.  As a result, ISEE Select’s sentiment index calculation provides a more accurate reflection of true investor sentiment. (a)

ISEE Select is a web-based tool and provides access to intraday and historical sentiment values that are calculated every twenty minutes during market hours. Historical sentiment values can also be easily downloaded for further analysis. There are two ISEE Select sentiment applications: a Query Tool and a Scanning Tool.
  • Query Tool: allows subscribers to retrieve bullish or bearish investor sentiment by entering a specific symbol for nearly any security whose options are traded on ISE. Subscribe to the Query Tool if you are looking to keep track of the sentiment values for your portfolio.
  • Scanning Tool: alerts subscribers to the most bullish and bearish securities based on pre-defined queries (for example: Show me the most bullish or bearish stocks in the oil and gas sector). Subscribe to the Scanning Tool if you are interested in exploring trading ideas with extreme sentiment values.


  • ISEE Select Query Tool: three subscription levels are available for the Query Tool. Each query can contain up to five symbols.

  • ISEE Select Scanning Tool: the subscription fee is a flat rate for an unlimited number of queries.

  • Annual Subscription Discount: receive 12 months of service for the cost of 10 months when you sign up for an annual subscription, a 16% discount.

  • Multi-Product Discount: select the unlimited monthly subscription level for both the Query Tool and Scanning Tool and get a 20% discount.

  • Additional Discounts: additional discounts of 16-20% are available to clients of participating Alliance Partners. Just enter the promotional code provided by the Alliance Partner.

The subscription fees are as follows:

Description Standard Monthly Subscription Fee Discounted Annual Subscription Fee(4) Discounted Monthly Fee for clients of Alliance Partners Percentage Savings for clients of Alliance Partners Discounted Annual Fee for clients of Alliance partners(4)
Query Tool � 100 Queries per month(1) $11.95 $119.50 $9.95 16.74% $99.50
Query Tool � 200 Queries per month(2) $14.95 $149.50 $11.95 20.07% $119.50
Query Tool � Unlimited Queries $19.95 $199.50 $15.95 20.05% $159.50
Scanning Tool � Unlimited Queries $11.95 $119.50 $9.95 16.74% $99.50
Multi-product Discount - Both Tools Unlimited Queries(3) $24.95 $249.50 $19.95 20.04% $199.50

(1) Each query can contain up to 5 symbols for a monthly total of 500 symbols.
(2) Each query can contain up to 5 symbols for a monthly total of 1,000 symbols.
(3) Represents a multi-product discount of more than 20%.
(4) Represents an annual subscription discount of more than 16% of the monthly subscription fee.



To sign-up, simply complete our four step process on-line:

    1) Select the subscription level
    2) Create your personalized user name and password
    3) Input your credit card and billing information and enter a promotion code (if applicable)
    4) Confirm acceptance of the ISEE Select licensing agreement

The approval process is completed in a matter of seconds and you will be automatically logged into the application.

The monthly subscription fee is recurring and can be cancelled at anytime by submitting a request directly in the ‘Help’ section of the application or by sending an email to [email protected].


ISE�s Marketing Alliance Program is an arrangement between ISE and a participating firm who, under the terms of the Program, markets and promotes ISEE Select to its customers. Customers of an Alliance partner are eligible to receive a discount on their subscription fees. Firms interested in joining the Marketing Alliance Program should send their contact information to [email protected].



This application requires Macromedia Flash Player 8 ( ) and is best viewed in Internet Explorer version 6.0 or higher or Netscape version 7.2. For additional information about ISEE Select please refer to FAQs, Take a Tour Guide, Related Stories, or email [email protected].


(a) The traditional put/call ratio makes no distinction as to the source of the trade. ISE categorizes three sources of trades: Market Maker trades, Firm trades which include institutional trading desks, and Customer trades. If a large institution�s proprietary trading desk buys 2,000 XYZ calls, are they bullish? Although buying call options are generally viewed as a bullish move, a proprietary trading desk could be short 1,000,000 shares of XYZ and they could be hedging 20% of their position. Therefore it cannot be determined if this purchase was bullish or bearish, but the traditional put/call ratio calculates this as a bullish trade. The ISE sentiment calculation omits Market Maker and Firm trades when calculating the sentiment value, which we believe provides a more accurate representation of true investor sentiment.