Index / QQQ

QQQ

745.25 +0.57% Term inverted
Term inverted

Front ATM IV is 5+ vol points above next (front 33.2 / next 16.8).

What to look at

Front ATM IV minus next. A gap of 5 or more vol points is inverted. Event premium sits in the front expiry.

Intraday 5M

About

Intraday 5M shows two NYSE sessions of 5-minute price candles with VWAP and call/put walls, a right-hand open interest profile through this week's Friday, a bottom net drift panel of cumulative call/put premium and volume, and horizontal levels (flip, max pain, walls, dealer-gamma peak and trough) on the candle range. Use it to read intraday price against this week's OI walls and net premium drift.

Instructions

Read the header badge first. Read Overlay walls, flip, max pain, green and red fills, Profile Call OI and Put OI, and the grey Compare Book line. Watch the bottom panel to check if call or put premium and volume confirm the price direction.

Signals

  • Calls - Latest-session call premium drift leads put premium. With no premium panel, book call OI is above 55%.
  • Puts - Latest-session put premium drift leads call premium. With no premium panel, book put OI is above 55%.
  • Neutral - Latest-session premium is tied, or book call share is 45-55% with no premium panel.

Overlay

  • Call wall / Put wall - Green line or red line. Largest nearby call or put GEX. At most three per side, at least 0.5% of spot apart.
  • Flip - Blue dashed line. Dealer gamma changes sign at this price.
  • GEX peak / GEX trough - Dotted green or red line. Highest and lowest dealer gamma on the book.
  • Call GEX / Put GEX - Green fill or red fill behind the candles. Dealer gamma at that strike.
  • Max pain - Orange line. Strike that expires with the least option value. Not the flip.
  • VWAP - Yellow line. Session volume-weighted average price.
  • Overnight gap - Purple fill. Gap from the prior regular-hours close; shrinks as price trades into it and stops when filled.
  • Session break - Vertical dashed line. Split between the two NYSE sessions.

Profile

  • Call OI / Put OI - Green fill and red fill on the right. Open interest through this week's Friday.
  • Compare Book - Grey dashed line on the Profile. The compared book's open interest.
  • Net GEX - Optional. Green fill right of center when net is positive, red fill left when negative. Replaces Call OI / Put OI when on. Default off.

Bottom panel

  • Call premium - Solid green line. Cumulative call premium drift.
  • Put premium - Solid red line. Cumulative put premium drift.
  • Volume fills - Green and red areas. Call and put volume.
±10.39 1.40%
16.8%
17.5%
15.9%
+1.6

Intraday 30M

About

Intraday 30M shows five regular-trading-hours sessions of 30-minute candles with weekly and monthly VWAP, call and put walls, a right-hand open-interest profile for the Next Week book, and a bottom MACD panel (12/26/9) when the ticker keeps MACD on and 30-minute history covers the five sessions. Use it to read the week against walls, VWAPs, the near-dated OI profile, and momentum.

Instructions

Read the header badge first. Read Overlay walls, flip, max pain, green and red fills, Profile Call OI and Put OI, and the grey Compare Book line. Watch the bottom panel for MACD crosses of the signal line and the zero line when the strip is present.

Signals

  • Calls / Puts / Neutral - Book call share above 55%, below 45%, or 45-55%.

Overlay

  • Call wall / Put wall - Green line or red line. Largest nearby call or put GEX. At most three per side, at least 2.5% of spot apart.
  • Flip - Blue dashed line. Dealer gamma changes sign at this price.
  • GEX peak / GEX trough - Dotted green or red line. Highest and lowest dealer gamma on the book.
  • Call GEX / Put GEX - Green fill or red fill behind the candles. Dealer gamma at that strike.
  • Max pain - Orange line. Strike that expires with the least option value. Not the flip.
  • Weekly VWAP - Dotted yellow line. Week-to-date regular-hours VWAP.
  • Monthly VWAP - Dashed yellow line. Month-to-date regular-hours VWAP.
  • Overnight gap - Purple fill. Gap from the prior regular-hours close; shrinks as price trades into it and stops when filled.

Profile

  • Call OI / Put OI - Green fill and red fill on the right. Open interest on strikes that expire in 10 days or less.
  • Compare Book - Grey dashed line on the Profile. The compared book's open interest.
  • Net GEX - Optional. Green fill right of center when net is positive, red fill left when negative. Replaces Call OI / Put OI when on. Default off.

Bottom panel

  • MACD - Solid blue line. 12-period EMA minus 26-period EMA of 30-minute closes.
  • Signal - Solid orange line. 9-period EMA of MACD.
  • Histogram / Histogram - Green or red bars. MACD minus signal.

Daily

Overlay

  • Call and put walls, flip, max pain, and dealer-gamma peak and trough.
  • Faint green and red wash behind the candles is net dealer gamma by strike.

Profile

  • Green and red fill on the right is open interest through next Friday.
  • Grey outline is next Friday alone.

Bottom panel

  • Implied move, option IV, realized vol, IV versus the stock, and EPS when the earnings week sidecar has it.

Net Drift

About

Cumulative call and put premium paid on near-dated index options during NYSE regular hours, plotted against the underlying future. Use it to see which side is paying premium as the session unfolds.

Instructions

Read the two fills against price. Treat rising put drift while price falls as hedging that agrees with the move. Treat rising put drift while price holds as protection bought into strength.

Signals

  • CALLS > PUTS - Session call premium drift leads put premium drift.
  • PUTS > CALLS - Session put premium drift leads call premium drift.

Overlay

  • Call premium - Solid green line. Cumulative call premium paid, $M.
  • Put premium - Solid red line. Cumulative put premium paid, $M.
  • Price - Solid blue line. Underlying price on the right axis.

Bottom panel

  • Call volume - Green fill in the bottom panel. Cumulative call contracts, thousands.
  • Put volume - Red fill in the bottom panel. Cumulative put contracts, thousands.

Greek Exposure

About

Estimated dealer hedging requirements derived from open interest, broken down by greek (gamma, vanna, charm, vomma) and expiration. The model assumes market makers stay delta-neutral and must continuously adjust hedges.

Instructions

Read gamma sign to see whether dealers dampen or amplify price moves. Read vanna against spot direction to gauge forced vol buying or selling. Watch charm ramp into expiration for predictable delta unwind flows.

Signals

  • POSITIVE GAMMA / VANNA / CHARM / VOMMA / COMBINED - Net dealer exposure for the selected greek is at or above zero at spot.
  • NEGATIVE GAMMA / VANNA / CHARM / VOMMA / COMBINED - Net dealer exposure for the selected greek is below zero at spot.

Tabs

  • Gamma - Per-expiry dealer gamma exposure vs spot.
  • Vanna - Per-expiry dealer vanna exposure vs spot.
  • Charm - Per-expiry dealer charm exposure vs spot.
  • Vomma - Per-expiry dealer vomma exposure vs spot.
  • Combined - Sum of the greek exposures on one panel.

Term structure

What to look at

Front versus back. A downward slope is event vol. The dashed line is leftover vol after the event.

Skew

What to look at

Puts richer than calls is the crash bid. Compare the two expiries. Event-dated smiles steepen.

Open Interest

What to look at

Puts below spot are a cushion. Calls above are a lid. Max pain near spot on 0–2 DTE is pin risk.

Levels

  • Spot 745.25
  • Put Wall 705.00
  • Put Wall 726.00
  • Gamma Flip 741.25
  • Call Wall 746.00

About

Text summary of key option-derived levels for the current session and week: call walls, put walls, gamma flip, max pain, unfilled overnight gaps, and high open-interest strike zones. Two tabs switch between a 0-1 day window (Intraday) and a <=15 day window (Weekly).

Instructions

Read the call and put walls together to bracket the expected range for the chosen window. Compare the gamma flip to the current price: price above the flip suggests dealer hedging dampens moves; price below suggests hedging amplifies them. Check max pain as a magnet only when time to expiration is short and open interest is concentrated.

Signals

  • LONG GAMMA - Spot sits on the long-gamma side of the flip.
  • SHORT GAMMA - Spot sits on the short-gamma side of the flip.
  • POSITIVE GEX - No flip crossing; net GEX at spot is positive.
  • NEGATIVE GEX - No flip crossing; net GEX at spot is negative.
  • CALL PIN + - Removing the nearest expiry lifts the call wall / ceiling.
  • PUT PIN − - Removing the nearest expiry lowers the put wall / floor.
  • INVERTED GAMMA - Largest positive net-GEX node sits below spot and largest negative node sits above; both clear the size gate.

Trades

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Net Max profit Max loss Profit% EV Breakevens
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What to look at

Compare EV on the same expiry. Click a row to load the calculator. Switch 5m, 30m, or Daily candles on the left of the P/L profile; hover for price and dollars.