What key feature does the author compare to the Level 3 data in terms of providing an edge in trading?

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What is a major benefit of using the Level 3 data for options traders?

It helps identify overvalued options contracts It provides insights into the historical performance of options It offers visibility into the availability of options contracts and helps identify better price points It predicts the future price movements of options contracts

How does the Level 3 data aid in scalping the market?

It identifies long-term investment opportunities It predicts market trends for the next day It gives visibility into the approximate execution price for trades It helps identify undervalued stocks for long-term holding

What role does the Level 3 market window play in position sizing?

It determines the exact number of shares to trade based on capital availability It helps estimate the number of shares to trade considering the stock's liquidity It suggests the ideal holding period for a stock It recommends the best time of day to enter a trade

How can the Level 3 data be used to validate support and resistance levels?

By comparing historical price data with current market trends By identifying areas of concentrated bids or offers in the 20-depth order book By predicting future market movements based on technical analysis indicators By analyzing the company's financial statements and news releases