Pick a ticker and two date ranges — dr1 and dr2 (two pumps, two dumps, a pump vs a dump, accumulation vs distribution…). Every one of the 176 daily metrics — all nine greeks in three distinct aggregations, put/call (volume · premium · OI), open interest, dealer gamma/GEX & walls, 0DTE, skew, IV term structure, the VIX complex and VIX option open interest by strike, futures basis & open interest, credit spreads, rates volatility, implied correlation, leveraged-ETF positioning, dark pool, rates — is compared across the two windows: its level (percentile + z), its slope, its acceleration, its threshold-crossings and its path-shape. The finder then ranks the strongest shared signatures and the strongest divergences. Describes what happened; never predicts.
Analysis — market conditions, three timeframes, two questions each Bull/bear and rich/cheap resolved at 1 hour, 1 day and 1 week through Imran Lakha's options framework — plus a copyable, self-contained LLM analysis brief structured by his lenses, with most-bearish / most-bullish / latest comparison columns. Same data as this page, read as conditions rather than as two regimes side by side.OMNIVERSE - OPTIONS & FUTURES POSITIONING BRIEF
Generated 2026-08-25T20:07:16-04:00 (America/New_York), underlying QQQ.
SIZE: 70,575 characters in full; 17,870 characters down to the truncation marker, which is the self-contained brief.
=== YOUR TASK ===
You are reading a snapshot of how the US equity options and futures market is POSITIONED.
Please:
1. Analyse it. Break down what each of the five lenses below is showing.
2. Explain the MECHANISM, not just the number - why would this positioning make price
behave a certain way? Who is forced to do what, and when?
3. Form a directional bias for THREE horizons: the next 1 HOUR, the next 1 DAY, and the
next 1 WEEK. For each, state your confidence and say what would FALSIFY it.
The three horizons CAN and often SHOULD disagree. Dealer gamma can pin price for an hour
while a week's positioning points the other way; that is a real finding, not a contradiction
to be smoothed away. 'No view' is a legitimate answer on any horizon - say so plainly rather
than manufacturing a lean from noise. Where the data cannot support a horizon, say that too.
=== WHAT THIS DATA IS, AND WHAT IT IS NOT ===
EVERY number below is standardized as SIGMA: how far the reading sits from that metric's own
2026 average, in standard deviations. That is what makes metrics with wildly different units
(contracts, dollars, basis points, index levels) comparable in one table. Raw values are shown
alongside. There is no percentile column: the baselines carry mean and standard deviation, so
sigma is what can be stated honestly here.
THREE DIFFERENT CLOCKS, never mixed inside a column:
FUTURES live, ~1-minute bars, roughly 23h/day. Basis, carry, calendar spread, volume.
OPTIONS a ~5-minute snapshot while the market is open, HELD at its last value after the
close. IV, skew, ATM greeks. Cumulative-flow rows (volume, premium, 0DTE, chain
greeks) are session-to-date in a snapshot but an HOUR in the archive, so they
stay on the archive hour rather than fusing two definitions.
END OF DAY settled once a day and cannot exist intraday: open interest, dealer gamma and
walls, the VIX complex, rates, dark pool, futures open interest.
An EOD metric shown against the 'now' column is the LAST SETTLED value, not an intraday one.
KNOWN LIMITS - state these back if they matter to your conclusion:
- The whole history is 2026 only. There is no pre-2026 baseline, so 'unusual' means unusual
THIS YEAR, and 2026 may itself be an unusual year. Sigma is computed on ~127-150 sessions.
- Baselines pool across option roots; a per-root reading is standardized against the
headline root's distribution, not its own.
- ^MOVE (bond volatility) has roughly 9% null sessions and publishes late.
- The ICE credit spread series are capped to a rolling 3 years by licensing.
- VIX option OI BY STRIKE covers 2026-03-02..2026-08-24 only (121 sessions). It is a settled,
once-a-day figure with no intraday grain, and it does not roll forward on its own.
- VIX option OI totals (vix_opt_oi and its call/put legs) are FORWARD-ONLY from 2026-08-06,
so they have too few observations to standardize and mostly read 'no data'. That is
honest, not a gap to fill in.
- An empty cell means NOT AVAILABLE. It is never a zero and never forward-filled.
- VIX-by-strike sessions REJECTED and excluded rather than smoothed: 2026-08-06 (expired-expiry mis-map); 2026-08-07 (identical to the prior session - a stale vendor repeat).
- HELD BACK, and NOT ranked anywhere below: cex. Its value and its baseline are not
the same measurement. Read its number as unverified rather than as a signal:
Its live value comes from the GEX RECORDER while its 2026 baseline was built from the
OPRA FLAT-FILE archive, and for this one metric the two are not the same measurement.
MEASURED 2026-08-10: the archive's charm formula, its 0.5/365 time floor and its
constants are IDENTICAL to the recorder's (archive charm reproduces exactly at the
floored T, so the floor is not the difference). The difference is the CONTRACT SET and
its implied vols. Charm carries 1/(T*sigma*sqrt(T)), so a same-day contract dominates
whatever enters the sum: on 2026-08-07 the recorder books 90.7% of all charm exposure to
221 same-day contracts, whose vendor implied vols run from 0.000 to 10.754 - values no
solver should be asked to trust - and whose mean |charm| is 63.5 against the archive's
25.5 on 2.7x the open interest. Across the store seam the recorder's cex reads -2.1e9 /
-1.8e9 / -3.8e9 where 127 archive sessions span roughly +/-8e8. gex and vex cross the
same seam cleanly, because gamma and vanna carry no 1/T blow-up - which is itself the
evidence that this is charm-specific and not a store-wide scale error. Neither side is
'the bug': they answer different questions over different contract universes. Held out
of every ranking until the recorder era can carry its OWN baseline - it has 3 sessions,
below the 3-observation minimum, so that is weeks away.
=== HOW TO READ DIRECTION, AND WHAT CANNOT POINT ONE ===
SIGNED-MIRROR RULE. Realised volatility, every volume-as-size, every greek MAGNITUDE, VIX
LEVELS and open-interest SIZE all rise on rallies AND on crashes. They describe INTENSITY,
not direction. Do not read a big number in any of them as bullish or bearish. Only the
metrics listed under the DIRECTIONAL BIAS lens below carry a defensible sign.
THE VIX INVERSION - the single easiest mistake to make here. On VIX options, CALLS are the
fear trade: you buy a VIX call to profit from a volatility SPIKE, so a call-heavy VIX book is
BEARISH for equities. Every VIX put/call ratio below is stored as put/call for unit
consistency with the equity ratios, which means it reads BACKWARDS from them: LOW = fear.
SMALL n. Where a metric shows few observations, treat it as description, not evidence.
=== THE APP'S OWN TWO MECHANICAL VERDICTS ===
These are computed, not written. They are included so you can agree or disagree with them
explicitly rather than re-deriving them.
OMNIVERSE — ABSTRACT (plain-language summary of the two headline reads)
DIRECTION — is it leaning bull or bear? NEUTRAL / MIXED (+0.8 on a -10..+10 scale)
A mechanical vote of 19 independent readings drawn from 36 metrics (correlated ones are
combined so a single theme cannot be counted four times). It describes what the market is
PRICING right now. It is not a forecast.
RESEMBLANCE — how extreme does it look? (a SEPARATE question) CRASH-like
-0.11 similarity to 2026's worst Nasdaq day vs -0.39 to its best. Resemblance asks 'which
extreme does this look like'; Direction asks 'which way is it leaning'. Both are shown.
PULLING BULLISH:
+ put/call open-interest ratio (positions actually +2.30 sigma
+ futures curve shape, 2 measures combined +1.06 sigma
+ VIX term structure, 4 measures combined +0.74 sigma
+ net call-vs-put delta traded across the chain +0.73 sigma
+ implied correlation, 3 measures combined +0.53 sigma
PULLING BEARISH:
- futures basis, 4 measures combined -1.64 sigma
- Nasdaq-100's last daily move -0.79 sigma
- dealers positioned to dampen moves (positive gam -0.57 sigma
- US dollar direction (a falling dollar helps stoc -0.54 sigma
- dealer gamma right at the current price -0.44 sigma
BY THEME:
futures basis bearish -1.64 sigma (4 measures)
futures curve shape bullish +1.06 sigma (2 measures)
VIX term structure bullish +0.74 sigma (4 measures)
implied correlation bullish +0.53 sigma (3 measures)
credit spreads bullish +0.53 sigma (5 measures)
put/call ratios bullish +0.40 sigma (2 measures)
skew / tail-hedging bearish -0.18 sigma (4 measures)
CONTEXT — shown, deliberately NOT voted (no unambiguous direction, or a stale tier):
(6 of 8 shown; the full set is in the extremes table)
lev_etf_aum_short +3.188e+09 -1.14 sigma levered short AUM
lev_etf_aum_net +6.004e+10 +0.96 sigma net long-minus-short levered-ETF AUM
lev_etf_aum_long +6.323e+10 +0.92 sigma levered long AUM
lev_etf_aum_usd +6.642e+10 +0.87 sigma levered-ETF AUM
lev_etf_shr_chg +3.5e+06 +0.66 sigma levered-ETF share creation/redemption
dist_putwall_pct -0.25% +0.62 sigma distance from price down to the put wa
AS-OF: futures 2026-08-25 19:00-20:00 ET (~2 min lag) · options 2026-08-25T15:52:16-04:00 · open interest 2026-08-24 · daily close 2026-08-24
Scale: -10..+10 (mean sigma x 10); cutoffs |s|<1 neutral, 1-3 leans, 3-6 clearly, >6 strongly - CONVENTIONS, not derived from the data
=== THE THREE COMPARISON COLUMNS ===
Every metric below is shown at three moments so you can compare and contrast:
MOST BEARISH 2026-06-05 NDX -4.77%
MOST BULLISH 2026-03-31 NDX +3.43%
LATEST 2026-08-25 19:00-20:00 ET (futures) / 2026-08-24 15:00-16:00 ET (options)
DEFINITION, stated so you are not guessing at it: 'most bearish' and 'most bullish' are the
SINGLE WORST and SINGLE BEST NASDAQ-100 daily return of 2026, chosen mechanically as the
argmin and argmax of ndx_ret_pct across every session in the store. They are FROZEN - the
same two dates every run - so the comparison is stable. They are single DAYS, deliberately,
not multi-day episodes: a day has one unambiguous set of readings, where a window would need
an averaging rule that would itself need defending. Multi-day regimes are catalogued
elsewhere in this app and are not what these two columns are.
Each entry reads: sigma-at-worst sigma-at-best sigma-now (raw value now)
=== THE FIVE LENSES ===
FOUR of these ask ATTRIBUTION - whose positioning does this metric reveal? - and ONE asks
EXTREMITY, which is a different question entirely. They are kept apart on purpose.
The three populations, and why they are separate lenses at all:
RETAIL lives in VOLUME. It trades, and what it trades expires fast. Same-day
(0DTE) options are the cleanest fingerprint there is.
INSTITUTIONS live in OPEN Size that is HELD, not churned - and size deliberately
INTEREST. kept off the lit tape (dark pool, off-exchange).
DEALERS live in the HEDGING A market maker has no view, it has an obligation: a
OBLIGATION. book it must re-hedge as price moves.
put/call on VOLUME and put/call on OPEN INTEREST are the SAME ratio over two different
crowds. That is why one is a retail read and the other an institutional one.
SCORE = lens weight x how far from normal it is right now. A metric that perfectly reveals
a crowd while sitting at its own median is surfacing NOTHING, so it ranks low. Weights are
stated judgements about market structure, not values derived from the data.
-- MOST RETAIL SURFACING --
the metrics that best show what ordinary traders are doing, ranked by how far from normal each one is right now
24 metrics carry weight on this lens; 148 are EXCLUDED from it (they are not a
weak answer to this question, they are not an answer to it), 0 have no current
reading to rank.
metric score weight sigma-now
gamma_chain 1.03 0.25 +4.12 Across every option traded, how much 'gamma' changed hands — a p
lev_etf_aum_short 0.97 0.85 -1.14 Money sitting in the funds that bet the market goes DOWN.
pc_vol 0.96 0.80 -1.20 How many puts traded for every call (put/call volume ratio). Abo
zdte_premium 0.90 1.00 -0.90 The dollars spent on same-day-expiring options.
lev_etf_aum_net 0.81 0.85 +0.96 Bullish leveraged money minus bearish leveraged money. The sign
lev_etf_aum_long 0.78 0.85 +0.92 Money sitting in the funds that bet the market goes UP with leve
lev_etf_aum_usd 0.74 0.85 +0.87 The combined size of the funds that give 2x or 3x (or inverse) e
lev_etf_shr_chg 0.63 0.95 +0.66 How many leveraged-fund shares were created or destroyed today.
-- MOST DEALER SURFACING --
the metrics that best show what the options market makers are FORCED to do, ranked by how far from normal each one is right now
72 metrics carry weight on this lens; 100 are EXCLUDED from it (they are not a
weak answer to this question, they are not an answer to it), 6 have no current
reading to rank.
metric score weight sigma-now
gamma_chain 3.09 0.75 +4.12 Across every option traded, how much 'gamma' changed hands — a p
vix_oi_top_cluster_share 2.24 0.85 +2.63 What share of the whole open book that one pile holds. A high nu
dist_flip_pct 1.51 1.00 -1.51 How far price is (in %) from the level where dealers flip betwee
vex 1.47 0.90 +1.63 Whether dealers are set up to buy or sell as VOLATILITY moves (n
vix_oi_put_com_dist 1.46 0.70 -2.08 The balance point of the PUT side alone. VIX puts are mostly bet
volga_chain 1.37 0.55 +2.50 Across every option traded, the total volga (vol-of-vol convexit
vix_oi_put_com_dist_pct 1.12 0.60 -1.86 The put-side balance point as a percentage of today's VIX.
vanna_chain 1.06 0.70 +1.51 Across every option traded, the total vanna (vol↔direction cross
-- MOST INSTITUTIONAL SURFACING --
the metrics that best show what the big, slow money has committed, ranked by how far from normal each one is right now
117 metrics carry weight on this lens; 55 are EXCLUDED from it (they are not a
weak answer to this question, they are not an answer to it), 14 have no current
reading to rank.
metric score weight sigma-now
nq_carry_ann 4.24 0.65 -6.52 The yearly implied cost of holding Nasdaq exposure via futures.
pc_oi 2.07 0.90 -2.30 For every open call position, how many open put positions there
es_carry_ann 1.97 0.65 -3.03 The yearly cost baked into S&P futures for holding the exposure
ym_fut_vol 1.88 0.50 -3.75 How many Dow (YM) futures contracts actually traded that day.
rty_fut_vol 1.82 0.50 -3.63 How many Russell 2000 (RTY) futures contracts actually traded th
vix_oi_top_cluster_share 1.58 0.60 +2.63 What share of the whole open book that one pile holds. A high nu
rty_carry_ann 1.56 0.55 -2.84 The yearly implied carry priced into Russell 2000 futures.
darkpool_ats_ratio 1.42 1.00 +1.42 What share of the week's trading hid in dark pools (dark-pool sh
-- MOST DIRECTIONAL BIAS SURFACING --
the metrics that actually lean bullish or bearish rather than just getting bigger, ranked by how far from normal each one is right now
62 metrics carry weight on this lens; 110 are EXCLUDED from it (they are not a
weak answer to this question, they are not an answer to it), 5 have no current
reading to rank.
metric score weight sigma-now
nq_carry_ann 3.91 0.60 -6.52 The yearly implied cost of holding Nasdaq exposure via futures.
pc_oi 2.30 1.00 -2.30 For every open call position, how many open put positions there
nq_basis_bp 1.92 1.00 -1.92 The Nasdaq futures-vs-index gap in basis points (scale-free).
es_carry_ann 1.82 0.60 -3.03 The yearly cost baked into S&P futures for holding the exposure
rty_carry_ann 1.70 0.60 -2.84 The yearly implied carry priced into Russell 2000 futures.
es_basis_bp 1.66 1.00 -1.66 The same S&P futures-vs-index gap, expressed in basis points so
rty_basis_bp 1.62 1.00 -1.62 The Russell futures-vs-cash premium in basis points.
vix1d_vix 1.58 1.00 -1.58 Tomorrow's expected panic versus the 30-day baseline (VIX1D ÷ VI
-- MOST UNUSUAL SINCE 2026 JAN --
simply the metrics furthest from their own normal this year - no question about whose positioning it is
Pure extremity, no weighting. 155 metrics ranked, 16 with no current reading.
metric score weight sigma-now
nq_carry_ann 6.52 - -6.52 The yearly implied cost of holding Nasdaq exposure via futures.
gamma_chain 4.12 - +4.12 Across every option traded, how much 'gamma' changed hands — a p
ym_fut_vol 3.75 - -3.75 How many Dow (YM) futures contracts actually traded that day.
rty_fut_vol 3.63 - -3.63 How many Russell 2000 (RTY) futures contracts actually traded th
es_carry_ann 3.03 - -3.03 The yearly cost baked into S&P futures for holding the exposure
rty_carry_ann 2.84 - -2.84 The yearly implied carry priced into Russell 2000 futures.
vix_oi_top_cluster_share 2.63 - +2.63 What share of the whole open book that one pile holds. A high nu
volga_chain 2.50 - +2.50 Across every option traded, the total volga (vol-of-vol convexit
=== FULL PER-METRIC TABLE (everything below this line is safe to truncate) ===
Below: every metric, three columns, then the glossary. Cut here if you are short of context -
everything above is self-contained.
OMNIVERSE - WHICH EXTREME DOES THE LAST HOUR RESEMBLE?
VERDICT: last hour leans CRASH-like - -0.11 similarity to the WORST day vs -0.39 to the BEST (62 intraday metrics).
Cells are standardized (sigma): the two DAY columns vs each metric's DAILY 2026 baseline; the LAST HOUR
column vs its HOURLY baseline (so an hour's move sits fairly beside a day's). +sigma = above average/up,
-sigma = below average/down.
COLUMNS:
WORST NDX DAY 2026-06-05 NDX -4.77%
BEST NDX DAY 2026-03-31 NDX +3.43%
NOW - FUTURES 2026-08-25 19:00-20:00 ET ~2 min lag (LIVE - Massive REALTIME futures 1-min bars, ~23h/day; basis/carry/calendar/volume)
NOW - OPTIONS 2026-08-24 15:00-16:00 ET (last available options hour)
AS-OF: futures 2026-08-25 19:00-20:00 ET · options 2026-08-24 · open interest 2026-08-24
Daily-vintage rows show their last value; a stamp appears only where that differs from the above.
EXTREMES TABLE (sigma vs each column's own baseline). FOUR columns, and each NOW column
carries its OWN clock — a column never mixes vintages:
. = this metric does not live in that column (its value comes from the other tier)
[x] = end-of-day quantity, cannot exist intraday; its own stamp is shown in the row
The two NOW columns are the LATEST column of the three-column comparison, split by clock.
VALUE-NOW is the raw current reading in the metric's own units, beside its sigma.
metric MOST-BEAR MOST-BULL NOW-futures NOW-options VALUE-NOW
-------------------------- --------- --------- ------------ ------------ -------------
== FUTURES (basis · carry · contango/backwardation · volume · OI) ==
es_basis_bp -0.96 +0.75 -1.66 . 6.14829
es_basis_pts -0.92 +0.53 -1.62 . 4.72021
es_cal_ann +0.38 -0.38 +0.78 . 3.39383
es_cal_bp -0.38 +0.38 -0.78 . -83.9034
es_carry_ann +3.81 -0.36 -3.03 . 0.935053
es_fut_vol +2.23 +2.21 -2.13 . 4583
nq_basis_bp -1.19 +0.75 -1.92 . 0.77766
nq_basis_pts -1.10 +0.40 -1.86 . 2.27148
nq_cal_ann +0.36 -0.55 +1.33 . 4.13299
nq_cal_bp -0.37 +0.54 -1.33 . -101.991
nq_carry_ann +3.24 -0.60 -6.52 . 0.118269
nq_fut_vol +3.71 +1.40 -2.11 . 5024
rty_basis_bp -1.66 +1.13 -1.62 . 2.91782
rty_basis_pts -1.63 +0.84 -1.58 . 0.878271
rty_cal_ann +0.75 -0.12 no-data . -
rty_cal_bp -0.75 +0.12 no-data . -
rty_carry_ann -2.69 +0.39 -2.84 . 0.443752
rty_fut_vol +0.76 +1.62 -3.63 . 352
ym_basis_bp -1.05 +0.65 -1.36 . 6.27159
ym_basis_pts -1.02 +0.49 -1.32 . 33.6016
ym_cal_ann +1.69 -0.69 no-data . -
ym_cal_bp -1.69 +0.69 no-data . -
ym_carry_ann +1.36 -0.18 -2.02 . 0.953805
ym_fut_vol +1.20 +1.77 -3.75 . 291
== SPOT / INDEX / MACRO ==
baa10y -1.65 +1.54 . -0.28 close 2026-08-21 1.63
bbb_oas -1.05 +2.28 . +0.11 close 2026-08-21 1
cash_ret_pct -3.45 +2.25 . -0.52 -0.476284
cor1m +0.12 +1.67 . -0.47 9.28
cor3m -0.36 +2.28 . -0.60 10.82
cor6m -0.49 +2.43 . -0.53 13.22
cor_term_slope -0.85 -0.41 . +0.19 1.54
darkpool_ats_ratio +1.28 -0.50 . +1.42 weekly 0.201334
darkpool_ats_shares +1.59 +0.68 . +0.23 weekly 3.35018e+07
dtb3 -0.03 -0.36 . +1.97 3.75
dtb3_chg -0.08 -0.63 . -0.08 0
dxy +0.69 +0.60 . -0.15 99
dxy_chg +1.86 -1.60 . +0.54 0.199997
hl_range_pct +3.30 +1.33 . -0.68 0.249193
hy_eff_yield +0.80 +1.63 . +0.93 close 2026-08-21 7.08
hy_ig_spread -0.35 +2.40 . -1.34 close 2026-08-21 1.89
hy_oas -0.56 +2.44 . -0.90 close 2026-08-21 2.7
hy_oas_chg +0.39 -3.32 . -0.91 close 2026-08-21 -0.05
ig_oas -1.04 +2.22 . +0.39 close 2026-08-21 0.81
lev_etf_aum_long +0.66 -1.73 . +0.92 6.32296e+10
lev_etf_aum_net +0.64 -1.73 . +0.96 6.00419e+10
lev_etf_aum_short -0.06 +0.90 . -1.14 3.1877e+09
lev_etf_aum_usd +0.68 -1.72 . +0.87 6.64173e+10
lev_etf_shr -1.40 +1.26 . +0.01 9.21093e+08
lev_etf_shr_chg -0.75 +0.10 . +0.66 3.5e+06
move +0.25 +2.11 . +0.15 73.98
move_chg +0.82 -2.54 . +0.11 0.580002
move_vix -0.72 -0.04 . +1.85 4.66751
ndx_close +0.87 -1.50 . +0.90 29023.2
ndx_ret_pct -3.54 +2.40 . -0.79 -0.974721
offexch_ratio +1.02 -0.51 . +0.88 weekly 0.47662
offexch_shares +1.13 +0.79 . -0.46 weekly 7.9309e+07
overnight_ret_pct -1.62 +1.10 . -0.65 -0.525644
ret_pct -3.54 +2.36 . -0.55 -0.193599
rv_intraday +0.97 +1.04 . -0.76 7.72146
share_vol +2.33 +2.34 . -0.78 3.3506e+07
spot_close +0.88 -1.52 . +0.90 706.28
spot_high +1.27 -1.57 . +0.87 709.79
spot_low +0.98 -1.68 . +0.95 702.7
spot_open +1.34 -1.75 . +0.96 709.66
spx_close +0.75 -1.76 . +1.54 7652.86
spx_ret_pct -3.09 +3.21 . -0.41 -0.280287
tnx +0.98 -0.26 . +1.92 4.704
== OPTIONS (flow · IV · skew · 0DTE · greeks · GEX · VIX) ==
atm_iv_30d +1.48 +0.88 . -1.13 19.1434
atm_iv_front +0.49 +0.50 . -0.47 19.4087
call_wall +1.19 -1.87 . +0.74 720
cex +2.07 +0.77 . -2.22 -1.5896e+09
charm_atm -0.82 +0.47 . +1.22 2.04489
charm_chain -3.83 +2.19 . -1.08 -5.92942e+06
delta_atm -2.18 +0.47 . +0.38 0.511452
delta_chain -1.18 -1.46 . +0.73 32107.3
dist_callwall_pct +2.49 -0.73 . +0.36 1.87045
dist_flip_pct no-data +0.48 . -1.51 settled 2026-08-19 -14.1493
dist_putwall_pct +0.84 +0.97 . +0.62 -0.251846
front_dte +1.67 -0.51 . -0.51 1
gamma_atm -1.87 +0.07 . -0.94 0.0343922
gamma_center +0.75 -1.71 . +0.71 707.28
gamma_chain +1.04 +0.07 . +4.12 157736
gamma_flip no-data -1.35 . -0.59 settled 2026-08-19 615
gex -1.23 +0.63 . -0.57 -2.18823e+09
gex_q -1.23 +0.63 . -0.57 -2.18823e+09
gvz -0.11 +1.72 . -0.22 28.28
gvz_vix -0.95 -0.11 . +0.93 1.78423
iv_chg +0.84 -0.49 . +0.89 6.48889
local_gamma_at_spot -0.33 +0.59 . -0.44 -2.63578e+08
n_contracts +2.66 +0.04 . -0.27 2390
opt_call_vol +4.30 +0.36 . +0.43 512737
opt_premium_total +3.79 +1.14 . -0.84 1.54644e+08
opt_put_vol +3.94 +1.81 . -0.35 440628
opt_vol_total +4.35 +1.12 . +0.04 953365
ovx -0.35 +1.29 . -0.93 46.74
ovx_vix -1.03 +0.24 . -0.64 2.9489
pc_premium +0.22 +0.58 . +0.40 1.5067
pc_vol -0.91 +1.60 . -1.20 0.859365
premium_call +2.74 +0.43 . -0.96 6.16922e+07
premium_put +3.51 +1.41 . -0.50 9.29519e+07
put_wall +0.82 -1.46 . +0.78 705
rho_atm +1.23 -0.60 . -0.50 1.0075
rho_chain +0.86 -1.38 . -0.16 -425427
skew_25d +0.62 -0.59 . -1.23 2.31413
skew_idx +1.65 +0.32 . +0.36 145.64
skew_pct +1.19 -0.87 . +0.47 0.148169
skew_vix -0.57 -1.64 . +1.15 9.18864
term_slope +0.20 -0.15 . +0.02 -0.26526
theta_atm +0.67 -0.23 . +0.40 -436.814
theta_chain -2.49 -0.53 . +0.80 -1.54737e+08
vanna_atm +1.99 -0.43 . -1.37 -0.120268
vanna_chain +3.01 -1.23 . +1.51 198347
vega_atm +1.87 -0.83 . +0.92 20.9314
vega_chain +4.80 +1.14 . -0.65 1.12537e+07
veta_atm -1.48 -0.16 . +1.09 2689.9
veta_chain +1.88 +1.00 . +0.00 2.64928e+09
veta_exp -2.06 +0.92 . no data -
vex -2.32 -0.86 . +1.63 4.76281e+07
vix +0.72 +1.79 . -0.90 15.85
vix1d +2.46 +0.65 . -1.27 8.71
vix1d_vix +3.41 -0.28 . -1.58 0.549527
vix3m +0.22 +1.71 . -1.08 18.56
vix6m +0.17 +1.95 . no data -
vix9d +1.29 +1.35 . -0.75 14.07
vix9d_vix +2.27 +0.50 . -0.30 0.887697
vix_chg +3.64 -3.20 . +0.43 0.72
vix_opt_call_vol +1.33 -0.67 . -0.62 422136
vix_opt_pc_vol -0.25 +2.78 . -1.09 0.268212
vix_opt_prem_usd +0.67 +0.03 . -1.10 4.25519e+07
vix_opt_put_vol +1.11 +1.21 . -1.21 113222
vix_opt_trades +2.26 +1.21 . -0.77 7762
vix_opt_vol +1.37 -0.06 . -0.88 535358
vix_term_slope -1.50 -1.51 . +0.46 2.71
vix_vix3m +1.50 +1.54 . -0.62 0.853987
volga_atm -0.28 -0.32 . +0.46 0.283569
volga_chain +4.95 +0.91 . +2.50 8.4818e+07
volga_exp -0.89 +0.08 . no data -
vvix +0.05 +1.24 . -1.09 88.64
vvix_vix -1.48 -1.81 . +0.41 5.59243
vxn +1.62 +0.92 . -0.81 22.69
vxn_vix +0.35 -1.28 . +0.43 1.43155
zdte_gamma_share +0.25 -0.89 . +0.42 0.906871
zdte_premium +3.62 +0.46 . -0.90 2.59025e+07
zdte_vol +3.66 +0.58 . +0.22 661825
== OPEN INTEREST (options + futures) ==
call_oi -0.75 +0.47 . +0.48 790204
es_futoi +1.35 -0.52 . no data -
nq_futoi +1.76 -1.67 . no data -
oi_chg +0.43 -0.25 . no data -
pc_oi +1.20 -1.93 . -2.30 0.831746
put_oi -0.32 -0.61 . -0.86 657249
rty_futoi -0.19 -0.64 . no data -
total_oi -0.54 -0.10 . -0.23 1.44745e+06
vix_oi_above_share -1.14 -1.78 . +1.29 0.948549
vix_oi_below_share +1.14 +1.78 . -1.28 0.0514508
vix_oi_call_com_dist -0.62 -1.13 . -0.51 27.161
vix_oi_call_com_dist_pct -0.83 -1.49 . +0.25 171.36
vix_oi_call_share_otm -0.97 -1.67 . +1.12 0.99318
vix_oi_n_strikes +0.23 +0.23 . +0.23 70
vix_oi_near_share +1.78 +0.59 . -0.35 0.247931
vix_oi_net_com_dist -1.33 -1.57 . -1.06 20.525
vix_oi_net_com_dist_pct -1.25 -1.72 . -0.19 129.5
vix_oi_net_contracts +0.10 -0.29 . -0.90 1.12069e+07
vix_oi_put_com_dist -1.06 -1.24 . -2.08 2.318
vix_oi_put_com_dist_pct -1.13 -1.41 . -1.86 14.62
vix_oi_top_cluster_dist -0.53 -1.05 . -0.23 4.187
vix_oi_top_cluster_share -0.39 -1.27 . +2.63 0.464144
vix_oi_top_cluster_strike -0.39 -0.64 . -0.49 20.037
vix_opt_call_oi no-data no-data . 8.21347e+06 -
vix_opt_oi no-data no-data . 1.12069e+07 -
vix_opt_pc_oi no-data no-data . 0.364455 -
vix_opt_put_oi no-data no-data . 2.99344e+06 -
ym_futoi +0.72 -0.98 . no data -
Frozen archetypes: WORST/BEST are the 2026 argmin/argmax of NAS-100 daily return, frozen; only the last-hour
column auto-updates. EOD-only metrics (GEX, open interest, dealer walls, VIX complex, rate; futures OI is not
in our archive) show n/a in the last hour. Futures basis/carry/calendar-spread ARE intraday and stay live.
GLOSSARY (metric - what it measures | why it matters):
es_basis_bp - The same S&P futures-vs-index gap, expressed in basis points so it's scale-free. | A rich (positive) futures premium means eager bullish positioning and easy funding; it compresses or flips negative when players get defensive or funding tightens.
es_basis_pts - How much the S&P FUTURES trade above or below the actual index (in points). Positive = futures richer than cash (a demand/carry read). |
es_cal_ann - The S&P futures curve slope (annualized). POSITIVE = CONTANGO (later months cost more - the normal 'paying to hold' shape); NEGATIVE = BACKWARDATION (the front month is bid up - a stress signal). | Positive = CONTANGO (the normal, calm 'pay-to-hold' shape). When it flips NEGATIVE = BACKWARDATION, players are scrambling for the front month — a stress signature.
es_cal_bp - The gap between the front S&P futures month and the next one, in basis points - the shape of the futures curve. |
es_carry_ann - The yearly cost baked into S&P futures for holding the exposure with borrowed money (annualized carry). Normal is ~2-3%; a spike means funding stress - traders paying up to be long. | The yearly cost to hold S&P exposure via futures. A spike means funding stress — traders paying up to be long (or shorts squeezing); it jumped hard on the crash day, a real tell.
es_fut_vol - How many S&P 500 futures contracts traded that day — futures activity. | Heavy S&P futures volume marks a high-conviction / high-participation session — futures are where the big/fast money moves first, so volume spikes flag the important hours.
nq_basis_bp - The Nasdaq futures-vs-index gap in basis points (scale-free). |
nq_basis_pts - How much the NASDAQ FUTURES trade above or below the actual Nasdaq-100 index (in points). |
nq_cal_ann - The Nasdaq futures curve slope (annualized). Positive = contango (normal); negative = backwardation (front-month stress). | Same read for the Nasdaq curve: positive = normal contango, negative = backwardation = front-month stress.
nq_cal_bp - The gap between the front Nasdaq futures month and the next one, in basis points. |
nq_carry_ann - The yearly implied cost of holding Nasdaq exposure via futures. A jump signals funding stress. |
nq_fut_vol - How many Nasdaq-100 futures contracts traded that day. | Heavy Nasdaq futures volume — the tech-heavy fast money; spikes flag sessions where index futures led the move.
rty_basis_bp - The Russell futures-vs-cash premium in basis points. |
rty_basis_pts - How far Russell 2000 futures trade above/below the Russell cash index, in points. |
rty_cal_ann - The Russell futures curve slope (annualized). Positive = contango, negative = backwardation. |
rty_cal_bp - The Russell futures front-vs-next-month gap, in basis points. |
rty_carry_ann - The yearly implied carry priced into Russell 2000 futures. |
rty_fut_vol - How many Russell 2000 (RTY) futures contracts actually traded that day - small-cap futures activity. | Small-cap futures are the risk-appetite leg of the complex - heavy Russell volume flags sessions where the speculative end of the market was where the action was.
ym_basis_bp - The Dow futures-vs-cash premium in basis points. Positive = futures richer than cash (bullish carry). |
ym_basis_pts - How far Dow futures trade above/below the Dow cash index, in points. |
ym_cal_ann - The Dow futures curve slope (annualized). Positive = contango, negative = backwardation. |
ym_cal_bp - The Dow futures front-vs-next-month gap, in basis points. |
ym_carry_ann - The yearly implied carry priced into Dow futures. |
ym_fut_vol - How many Dow (YM) futures contracts actually traded that day. | Dow futures volume marks sessions where the old-economy index led rather than followed.
baa10y - An older, longer-running version of the same credit-risk measure, available back to 1986 - so today's reading can be compared against forty years instead of three. | Because this one goes back to 1986, it is what lets you say whether today's credit stress is genuinely unusual or merely unusual-for-the-last-three-years.
bbb_oas - The borrowing premium for the weakest companies that still count as 'safe' - one notch above junk. This is the first rung to crack when the market starts worrying about downgrades. | The rung one notch above junk reprices first when downgrade risk is being priced, so it leads the investment-grade index rather than following it.
cash_ret_pct - The move DURING regular trading hours only — open to close. |
cor1m - How much the market expects stocks to move TOGETHER over the next month. High = one shared story driving everything (and diversification stops helping); low = stocks moving on their own individual news. | Index moves are roughly average single-stock movement multiplied by how together they move - so this isolates the half the VIX alone cannot separate. A VIX spike on RISING correlation is systemic: index hedging, everyone selling the same exposure, diversification failing exactly when it is needed. A VIX spike on FALLING correlation is a few big names on their own news, and usually a much weaker signal for the index.
cor3m - The same 'do stocks move together' measure looking three months out - steadier and less jumpy than the one-month. |
cor6m - The same measure six months out - the slow-moving, structural view of how tied together the market expects stocks to be. |
cor_term_slope - Whether stocks are expected to move together MORE right now than later. Negative means the market is paying up for everything-falls-at-once TODAY - a stress shape. | Dispersion desks are structurally positioned for stocks NOT moving together, so a sharp move here is the tell that the trade is unwinding - which forces index-volatility buying and feeds straight back into the VIX.
darkpool_ats_ratio - What share of the week's trading hid in dark pools (dark-pool shares ÷ that week's volume). Higher = more trading done out of public view. |
darkpool_ats_shares - How many shares traded off the public exchanges in DARK POOLS that week — big, hidden institutional trading (weekly figure). |
dtb3 - The 3-month US Treasury bill rate — the short-term 'risk-free' interest rate. |
dtb3_chg - Did the short-term interest rate move up or down versus yesterday. |
dxy - The US DOLLAR's strength against a basket of major currencies (the dollar index). A rising dollar often pressures risk assets. |
dxy_chg - Did the dollar strengthen or weaken versus yesterday. |
hl_range_pct - How wide the day swung from its low to its high, as a percent of price. Bigger = a wilder, more volatile session. |
hy_eff_yield - The actual interest rate risky companies are paying to borrow right now (not a comparison - the raw cost). High rates make refinancing debt painful regardless of anything else. |
hy_ig_spread - How much MORE risky borrowers pay than safe ones. Widening means money is specifically fleeing the low-quality end, which usually starts before the headline junk number looks scary. | When money flees DOWN the quality ladder specifically, this widens before the headline junk spread looks alarming - so it tends to move first when credit is the real story.
hy_oas - The extra interest that risky ('junk') companies must pay to borrow, compared with the US government. Wider = lenders are demanding more to take the risk = the bond market is getting nervous. | This is the bond market's verdict on an equity selloff. Stocks falling while junk spreads stay put is usually a positioning wobble that mean-reverts. Stocks falling WITH junk spreads widening means lenders - who sit ahead of shareholders and are generally less emotional - agree something is actually wrong. Those are the drawdowns that keep going.
hy_oas_chg - Whether that junk-borrowing premium widened or narrowed versus the previous session. Rising = credit stress building today. |
ig_oas - The same extra-interest measure for the SAFEST big companies. It barely moves in normal times, so any real move means the worry has spread beyond the weakest borrowers. |
lev_etf_aum_long - Money sitting in the funds that bet the market goes UP with leverage. |
lev_etf_aum_net - Bullish leveraged money minus bearish leveraged money. The sign shows which way the leveraged crowd is leaning. |
lev_etf_aum_short - Money sitting in the funds that bet the market goes DOWN. |
lev_etf_aum_usd - The combined size of the funds that give 2x or 3x (or inverse) exposure to the market. These funds MUST trade every single day to keep their leverage on target, so their size sets how much buying or selling has to happen near the close no matter what anyone thinks. | These funds have no discretion: to keep 3x exposure they must buy more as the market rises and sell as it falls, every day, near the close. Their combined size is therefore a direct estimate of how much price-chasing flow is guaranteed to hit the tape in the final half hour - the 'stealth gamma' that has nothing to do with options.
lev_etf_shr - The combined number of shares those leveraged funds have issued. |
lev_etf_shr_chg - How many leveraged-fund shares were created or destroyed today. This is the meaningful one: it is real money arriving or leaving, i.e. leverage being added or taken off. | The size of these funds drifts around with price, which says little. Shares being created or destroyed is real money arriving or leaving - leverage genuinely being added or cut, and therefore a change in how much forced end-of-day flow to expect.
move - The 'VIX of the bond market' - how much swing the market expects in US interest rates. It answers whether a scare is only about stocks or about the whole economy. | The cleanest way to separate an equity scare from a macro one. Stock vol up with rates vol flat = an equity story (positioning, earnings, one sector). Both up together = the whole macro picture is repricing, which is a far bigger deal.
move_chg - Whether expected interest-rate turbulence rose or fell versus the previous session. |
move_vix - Bond-market fear divided by stock-market fear. High = the bond market is more worried than the stock market, which is historically the more informative of the two. | Rates vol tends to LEAD equity vol rather than follow it, so a bond market that is more frightened than the stock market is the more informative of the two readings.
ndx_close - The Nasdaq-100 closing level — the big-tech benchmark. |
ndx_ret_pct - How much the Nasdaq-100 rose or fell that day, in percent. |
offexch_ratio - What share of the week's trading avoided the public exchanges entirely (dark pools + internalizers). Around 40% is normal for US stocks. |
offexch_shares - Total shares traded OFF the lit exchanges that week — dark pools plus wholesaler/internalizer flow. |
overnight_ret_pct - The move that happened WHILE THE MARKET WAS CLOSED — from yesterday's close to today's open (this happens via futures). Big = the day was set overnight, not during trading. |
ret_pct - How much the price rose or fell versus the day before, in percent. Positive = up day, negative = down day. | The headline move itself — a big negative reading is a down-session, a big positive one an up-session. Everything else is context around it.
rv_intraday - How bouncy the price actually was minute-to-minute during the day (realized volatility), scaled up so it lines up with VIX. Higher = choppier trading. | High realized vol means the tape is actually thrashing around, not just feared to. It rises on BOTH crashes and rallies — it's a stress/energy gauge, not a direction gauge (a signed-mirror).
share_vol - How many shares of the stock actually changed hands during the day. Higher = more people trading it. |
spot_close - The price at the closing bell (4:00pm ET) — the day's final mark. |
spot_high - The highest price touched during regular hours that day. |
spot_low - The lowest price touched during regular hours that day. |
spot_open - The stock/index price at the opening bell (9:30am ET). |
spx_close - The S&P 500 index closing level — the main US stock-market benchmark. |
spx_ret_pct - How much the S&P 500 rose or fell that day, in percent. |
tnx - The US 10-year Treasury YIELD — the long-term interest rate that anchors how stocks are valued. |
atm_iv_30d - The same expected-swing reading but about a month out (~30-day implied volatility) — the calmer, medium-term fear gauge. |
atm_iv_front - How much price movement the market is PRICING IN for the near term (at-the-money implied volatility, nearest expiry). Higher = the market expects bigger swings soon = more fear. | Rising near-term implied vol means options are getting expensive — the market is paying up for protection/bets because it expects bigger swings. Falling = fear being priced out (calming).
call_wall - The price level with the most dealer 'up' hedging — often acts as a ceiling/resistance the market struggles to push through. |
cex - The hedging drift dealers must do purely from TIME passing (net charm exposure) — a steady pull that grows into expiration. |
charm_atm - How the option's stock-sensitivity drifts just from time passing (charm) — a driver of the steady day-to-day hedging flows, especially into expiration. |
charm_chain - Across every option traded, the total charm (time-decay-of-direction) that changed hands. |
delta_atm - For the at-the-money option, how much its value moves for a $1 move in the stock (delta ~0.5 at the money). Mostly a reference reading. |
delta_chain - Across EVERY option that traded, the net directional exposure that changed hands that day — a flow read, not the standing book. |
dist_callwall_pct - How far today's price is (in %) below the ceiling/resistance level (call wall). |
dist_flip_pct - How far price is (in %) from the level where dealers flip between calming and amplifying — i.e. how close to switching regime. |
dist_putwall_pct - How far today's price is (in %) above the floor/support level (put wall). |
front_dte - How many days until the nearest expiration used for the readings below (0 = expiring today is handled separately). |
gamma_atm - How FAST that sensitivity changes as the stock moves (gamma). High near expiry/at-the-money — it's what forces dealers to trade a lot to stay balanced. |
gamma_center - The price level where dealer hedging is most concentrated — it often acts like a magnet the market gravitates toward. |
gamma_chain - Across every option traded, how much 'gamma' changed hands — a proxy for how much forced hedging the day's flow created. | Large gamma flow means a lot of forced dealer hedging is being created — the more gamma trades, the more the dealers must buy/sell to stay balanced, which can pin or whip price.
gamma_flip - The price where dealers flip from CALMING to AMPLIFYING. Above it = calmer, mean-reverting; below it = jumpier. (Blank means there was no flip point that day — a real answer, not missing data.) |
gex - Whether the big options dealers, as a group, are set up to CALM the market down or AMPLIFY its moves (net gamma exposure). Positive = they buy dips / sell rips (dampening); NEGATIVE = they chase the move (trend/whipsaw). | Positive dealer gamma = dealers buy dips / sell rips, damping moves (calm regime). NEGATIVE = they chase the move, amplifying it — the difference between a boring day and a cascade.
gex_q - The same dealer-calming-vs-amplifying read, computed a slightly different way (with dividends) as a robustness check. |
gvz - The fear gauge for GOLD (gold's implied volatility). |
gvz_vix - Gold fear versus stock fear (GVZ ÷ VIX). High = an inflation or dollar shock, not just a stock scare. |
iv_chg - Did expected-swing pricing go UP or DOWN versus yesterday. Rising = fear being priced in; falling = fear being crushed out (calming). |
local_gamma_at_spot - Whether the dealers hedging RIGHT AT today's price are pushing the market to calm down or amplifying its moves, exactly where it's trading. Negative = they add fuel to moves here. | The dealer hedging pressure right at today's price. Negative here means the dealers standing at the current level are adding fuel to moves, not absorbing them.
n_contracts - How many different option contracts (strikes/expiries) traded — how broad the options activity was. |
opt_call_vol - How many CALL contracts traded (calls are upside/bullish bets). |
opt_premium_total - The total DOLLARS that flowed through options that day — not just contract counts, but the actual money at stake. |
opt_put_vol - How many PUT contracts traded (puts are downside/hedging bets). |
opt_vol_total - How many option contracts traded that day (calls and puts together) — overall options activity. | Total option activity is a crowd-intensity gauge — it balloons on panic AND euphoria days when everyone rushes to trade, so extreme readings mark 'big event' sessions.
ovx - The fear gauge for CRUDE OIL (oil's implied volatility). |
ovx_vix - Oil fear versus stock fear (OVX ÷ VIX). High = a supply/geopolitical (energy) shock. |
pc_premium - How much MONEY went into bearish bets (puts) versus bullish bets (calls). Above 1 = more dollars betting on a fall. Weighs conviction, not just contract counts. | Like pc_vol but weighted by dollars spent, so it captures conviction — a lot of MONEY into puts vs calls is a stronger fear signal than raw contract counts.
pc_vol - How many puts traded for every call (put/call volume ratio). Above 1 = more downside/hedging activity than upside; below 1 = more upside bets. | Above ~1 means more downside/hedging trades than upside — heavy put activity signals fear or hedging; below 1 signals upside chasing/complacency.
premium_call - The dollars spent on CALLS (bullish/upside bets). |
premium_put - The dollars spent on PUTS (downside/hedging bets). |
put_wall - The price level with the most dealer 'down' hedging — often acts as a floor/support (and if it breaks, moves can accelerate). |
rho_atm - How sensitive the option is to interest rates (rho). Small for short-dated options — mostly a reference reading. |
rho_chain - Across every option traded, the total interest-rate exposure that changed hands. |
skew_25d - How much MORE the market charges for crash insurance (out-of-money puts) than for upside bets (out-of-money calls). Higher = stronger fear of a drop (25-delta skew). | A high reading means crash insurance (downside puts) is being bid far more than upside calls — the market is paying up specifically to protect against a fall.
skew_idx - How much investors are paying for crash protection on the S&P (the CBOE SKEW index) — a tail-risk demand gauge. |
skew_pct - At-the-money, are puts pricier than calls right now (put IV minus call IV). Positive = downside protection is bid. |
skew_vix - Crash-insurance demand relative to actual fear (SKEW ÷ VIX). High = people buying tail hedges even while spot fear is low. |
term_slope - Whether the market fears the NEXT MONTH more or less than the NEXT FEW DAYS (30-day minus near-term implied vol). Positive = normal/calm; negative = near-term panic (backwardation). | When near-term IV jumps above the 30-day (this goes negative), the fear is concentrated RIGHT NOW — a classic stress signature. A calm market has this positive (longer-dated vol pricier).
theta_atm - How much value the option bleeds each day just from time passing (time decay / theta). Negative — options lose value as expiry nears. |
theta_chain - Across every option traded, the total time-decay exposure that changed hands. |
vanna_atm - A cross-effect: how the option's stock-sensitivity shifts when volatility moves (vanna). It's part of what makes dealer hedging speed up when markets get jumpy. |
vanna_chain - Across every option traded, the total vanna (vol↔direction cross-effect) that changed hands. |
vega_atm - How much the option's value changes when expected-swings (implied vol) move by one point (vega). |
vega_chain - Across every option traded, the total volatility exposure that changed hands. |
veta_atm - How the option's vol-sensitivity fades over time (veta). |
veta_chain - Across every option traded, the total veta (fade of vol exposure over time) that changed hands. |
veta_exp - How the dealer book's volatility exposure fades over time (net veta exposure). |
vex - Whether dealers are set up to buy or sell as VOLATILITY moves (net vanna exposure) — the flow that kicks in when the market gets jumpy. |
vix - The market's 30-day FEAR GAUGE — how big a swing the S&P options market expects over the next month. Higher = more fear. | The 30-day fear gauge. A high or fast-rising reading means the options market is pricing bigger swings ahead — the single most-watched 'is the market scared?' number.
vix1d - The fear gauge for JUST THE NEXT DAY (1-day expected vol) — the same-session panic reading. |
vix1d_vix - Tomorrow's expected panic versus the 30-day baseline (VIX1D ÷ VIX). Above 1 = the market braces for a panicky open. |
vix3m - The fear gauge looking 3 MONTHS out — the calmer, longer-horizon baseline. |
vix6m - The fear gauge looking 6 MONTHS out (VIX6M) - the far end of the volatility term structure. |
vix9d - The fear gauge for the next ~9 days (short-term). |
vix9d_vix - 9-day fear versus 30-day fear. Above 1 = fear is concentrated right now (imminent). |
vix_chg - Did fear (VIX) go up or down versus yesterday. |
vix_opt_call_vol - VIX CALL contracts traded. These are what you buy to profit if volatility SPIKES - so heavy call activity is money paying up for crash insurance. | VIX options are a pure volatility bet with no stock leg to muddy the read, so this is a cleaner picture of who is paying for protection than put volume on the index itself. Heavy call buying is money positioning for a volatility spike.
vix_opt_pc_vol - Puts divided by calls in VIX options. WATCH OUT - this one reads BACKWARDS from every other put/call here: on VIX, CALLS are the fear trade, so a LOW number means fear. | Read this one backwards from the other put/call ratios: on VIX, calls are the fear trade, so a LOW reading is the frightened one.
vix_opt_prem_usd - The actual dollars spent on VIX options that day - money at stake rather than contract counts. |
vix_opt_put_vol - VIX PUT contracts traded - mostly people betting volatility stays low or falls. |
vix_opt_trades - The number of separate VIX option trades - a crowd-size measure. Many small trades looks different from one big institutional block. |
vix_opt_vol - How many VIX option contracts traded - activity in the market people use purely to bet on, or hedge against, volatility itself. |
vix_term_slope - The volatility term structure = VIX3M minus VIX. POSITIVE = CONTANGO (calm: longer-dated fear costs more); NEGATIVE = BACKWARDATION (stress: paying up for near-term protection). Index-based (no VX futures in our archive). | VIX3M minus VIX. Positive = calm (contango: longer-dated fear pricier). When it goes NEGATIVE (backwardation) the market is paying up for immediate protection — a hallmark of stress.
vix_vix3m - Near-term fear versus 3-month fear (VIX ÷ VIX3M). Above 1 = fear is front-loaded/panicky NOW; below 1 = calm, normal shape. | Above 1 means near-term fear has jumped above 3-month fear (inverted term structure) — front-loaded panic; below 1 is the normal calm shape.
volga_atm - How the option's vol-sensitivity itself changes as volatility moves (volga / vomma) — the 'convexity' of a vol bet. |
volga_chain - Across every option traded, the total volga (vol-of-vol convexity) that changed hands. |
volga_exp - How sharply dealer hedging accelerates as volatility itself moves (net volga exposure) — the book's vol-of-vol convexity. |
vvix - How jumpy the fear gauge ITSELF is (vol-of-vol). Spikes often come before big repricings of tail risk. |
vvix_vix - How jumpy the fear gauge is relative to fear itself (VVIX ÷ VIX). Spikes can precede tail-risk repricing. |
vxn - The fear gauge for the NASDAQ-100 (tech volatility). |
vxn_vix - Nasdaq fear versus S&P fear (VXN ÷ VIX). High = stress is concentrated in tech. |
zdte_gamma_share - Of all the forced-hedging pressure that traded today, how much came from SAME-DAY options. High = the tape is dominated by 0DTE dealer hedging, which can pin or whipsaw price. |
zdte_premium - The dollars spent on same-day-expiring options. |
zdte_vol - How many SAME-DAY-EXPIRING option contracts traded (0DTE) — the fast, lottery-ticket / day-trade flow. | A surge in same-day options is the fast, reactive money — it spikes when traders pile into short-dated bets during a sharp move, and it drives intraday dealer hedging (pin/whipsaw).
call_oi - How many CALL contracts are actually being HELD open right now (positions, not today's trading) — the standing bullish/upside book. | How many upside/call positions are held open — a rising call book signals accumulated bullish/upside positioning.
es_futoi - How many S&P (ES) futures contracts are live and unsettled - the size of the standing futures position book. | Rising S&P futures open interest means fresh money is COMMITTING (real conviction, not just traders swapping): rising OI WITH price rising = new longs building; rising OI while price FALLS = new shorts building. Falling OI = positions being closed/unwound.
nq_futoi - How many Nasdaq (NQ) futures contracts are live and unsettled. | Rising Nasdaq futures open interest means fresh money is COMMITTING (real conviction, not just traders swapping): rising OI WITH price rising = new longs building; rising OI while price FALLS = new shorts building. Falling OI = positions being closed/unwound.
oi_chg - Did the number of held positions grow or shrink versus yesterday — net new bets opened or closed. |
pc_oi - For every open call position, how many open put positions there are (put/call open-interest). The standing book's tilt — vs the flow ratios above which are today's trading. | The standing book's tilt — a high put/call open-interest ratio means the held positioning is defensively skewed (lots of protection on the books), vs today's flow which pc_vol captures.
put_oi - How many PUT contracts are being held open — the standing downside/hedge book. | How many downside/put positions are held open — a rising put book signals accumulated hedging/downside positioning.
rty_futoi - How many Russell 2000 (RTY) futures contracts are live and unsettled. | Rising Russell futures open interest means fresh money is COMMITTING (real conviction, not just traders swapping): rising OI WITH price rising = new longs building; rising OI while price FALLS = new shorts building. Falling OI = positions being closed/unwound.
total_oi - Total option positions held open (calls + puts) — the size of the standing book. | How big the standing options book is. Rising open interest = new positions being built (fresh conviction); falling = positions being closed/unwound.
vix_oi_above_share - The share of all open VIX contracts struck ABOVE today's VIX — positions that only pay if volatility rises from here. In practice, this is the crash-hedge share of the book. | This is the crash-hedge share of the book in one number. Very high means almost every open position needs volatility to RISE to pay — the market is carrying insurance, not betting on calm. Falling means that insurance is being let go.
vix_oi_below_share - The share struck BELOW today's VIX — positions that need volatility to stay low or fall. The mirror of the reading above. |
vix_oi_call_com_dist - The balance point of the CALL side alone, in VIX points above today's VIX. VIX calls are what people buy to protect against a stock-market crash, so this is the clearest single answer to 'how far out is the insurance struck'. | VIX calls ARE the equity crash hedge, so where the call book is struck tells you what the hedging crowd is actually insuring against. Sitting far above spot, the book is buying cheap lottery tickets on a volatility explosion and NOT paying for protection against a move from here. Pulled in toward spot, real money is paying up for cover that bites soon — which is the reading that historically precedes the dealers being forced to hedge.
vix_oi_call_com_dist_pct - The call-side balance point as a percentage of today's VIX. |
vix_oi_call_share_otm - Of the call side only, the share struck above today's VIX. Near 1.0 means almost the entire call book is a far-out bet on a volatility explosion rather than protection against a move from here — lottery tickets, not near-term cover. | This separates two very different behaviours that both look like 'buying protection'. Near 1.0, the call book is almost entirely far out-of-the-money — tail lottery tickets that pay only in a genuine volatility explosion and leave the market unhedged against an ordinary drawdown. Lower readings mean hedging struck close enough to today's level to actually work.
vix_oi_n_strikes - How many different strike prices carry open positions — how wide the ladder in use is. |
vix_oi_near_share - The share of the book struck within 25% either side of today's VIX — the hedging close enough to today's level to bite soon. It falls as the book drifts into the tail even when the total size does not change. | The part of the hedge book close enough to today's VIX to matter soon. When this drains while the total book size holds, protection has not been bought or sold — it has MIGRATED into the tail, which quietly leaves the near-term unhedged.
vix_oi_net_com_dist - Picture every open VIX contract as a weight placed on a ruler of strike prices. This is where that ruler balances — and how far above today's VIX the balance point sits, in VIX points. A big number means the insurance is parked far out in the tail. |
vix_oi_net_com_dist_pct - The same balance point, expressed as a percentage of today's VIX so it stays comparable when VIX itself moves. 100% means the book's centre sits at twice the current VIX. |
vix_oi_net_contracts - How many VIX option contracts are being held open across every strike, calls and puts counted together. This is the SIZE of the standing crash-insurance book; the readings below say WHERE in the price ladder it sits. | How big the standing crash-insurance book is. Volume is a flow, open interest is a stock: this is what has actually been left on, and it is what creates the dealer exposure that has to be hedged later.
vix_oi_put_com_dist - The balance point of the PUT side alone. VIX puts are mostly bets that volatility stays calm, so they sit far closer to today's level than the calls do — the gap between the two is the shape of the whole book. |
vix_oi_put_com_dist_pct - The put-side balance point as a percentage of today's VIX. |
vix_oi_top_cluster_dist - How far that biggest pile sits above today's VIX (negative = below it). The distance matters as much as the level: a wall one point away is a very different thing from a wall fifteen points away. | Dealers are short most of this book, so the biggest block of open contracts is a price they have to hedge into. Far away, it is dormant. As VIX travels toward it, hedging demand accelerates — which is why the DISTANCE matters as much as the level, exactly as it does for the equity call and put walls.
vix_oi_top_cluster_share - What share of the whole open book that one pile holds. A high number means the hedging is concentrated at one price rather than spread out, so reaching that price matters much more. | Concentration is what turns a wall into a trigger. When one block holds a large share of the whole book, dealer hedging is bunched at a single price instead of spread along the ladder, so volatility reaching that level forces far more trading than its size alone suggests.
vix_oi_top_cluster_strike - The VIX level where the single biggest pile of open contracts sits — the 'wall' of the VIX option market. |
vix_opt_call_oi - Open VIX CALL positions - the standing pile of crash insurance. Normally far bigger than the put side, because that is what these are used for. |
vix_opt_oi - How many VIX option contracts are still OPEN, rather than how many traded. Open positions are what create real exposure; trading volume can just be the same contracts changing hands. | Volume is a flow, open interest is a stock. Heavy volume with FLAT open interest is churn - the same contracts passing between traders. Heavy volume with RISING open interest is new positioning being put on, and that is what actually creates dealer exposure and future forced hedging.
vix_opt_pc_oi - Puts divided by calls among OPEN VIX positions. Same reversal warning as the volume version: a LOW number means the book is positioned for a volatility spike. |
vix_opt_put_oi - Open VIX PUT positions - the standing bet that volatility stays calm. |
ym_futoi - How many Dow (YM) futures contracts are live and unsettled. | Rising Dow futures open interest means fresh money is COMMITTING (real conviction, not just traders swapping): rising OI WITH price rising = new longs building; rising OI while price FALLS = new shorts building. Falling OI = positions being closed/unwound.
=== STANDING NOTES (they travel with this text wherever it is pasted) ===
This document DESCRIBES what is priced and positioned. Beyond the 1h/1d/1w bias it explicitly
asks you for, it does not forecast, and neither the app nor its numbers constitute financial
advice. Magnitude metrics are signed mirrors and do not indicate direction. Where n is small,
treat a reading as description rather than evidence.
The positioning lens - dealer gamma, the walls and their distance, net contract position by
strike, and the preference for contract counts over dollar gamma - follows Imran Lakha's
framework. The implementation, the cut-points and any errors in them are this app's own.
Use a preset regime (pumps, dumps, consolidation, accumulation vs distribution) or free dates. dr1 (date range 1) is teal, dr2 (date range 2) is red.
Each metric is one row. For every measure (Level, Slope, Accel, Cross, Path), dr1 sits right next to dr2, so you compare each quantity as an adjacent pair. Click the i by any metric for a plain-English explanation.
Text size = how big the move is (vs the metric's own history); colour = direction (teal = up/above-average, red = down/below). Big-warm next to big-warm across a row = a shared signature; big-warm next to big-cool = a divergence.
Commonality = behaved the SAME in both ranges (a shared signature). Divergence = opposite (what tells the two regimes apart). Every row carries its n.
The correlation matrix + the A−B diff matrix show which metric pairs stayed coupled vs decoupled between the windows. Lead-lag tests which of a pair moved first.
SPX and NAS100 for both windows are aligned to a common t=0 (event-time), so two pumps'/dumps' shapes compare directly; add any metric line on a second axis.
The Metric overlay tab puts any number of metrics on one chart — spot vs futures vs 0DTE vs VIX vs open interest vs gamma vs skew. Because raw scales differ enormously, lines are drawn as σ (how unusual vs their own 2026 average) or percentile; raw units stay available for one or two metrics. Layout is yours: one date range or two, side by side or stacked.
Data: omniverse_2026.tsv — 180-column daily feature matrix (176 selectable metrics + 4 identity columns), 2026-01-02 onward, 9 OPRA option roots + a decomposable MARKET aggregate. Greeks from the local OPRA minute-bar solve (§2c); OI & dealer GEX from the Databento OCC join (§2d, 2026-03-02→08-03); futures basis from the CME minute archive (§2e); VIX complex & index cash from Yahoo; rate from FRED DTB3; dark pool from FINRA weekly ATS; VIX option open interest by strike from the Databento OPRA per-contract purchase, netted per strike and extended forward by the Massive snapshot recorder (2026-03-02→08-06, every session gated on an expired-expiry and a stale-vendor check). Every cell that is EMPTY is not available, never a zero. Full column dictionary in data/omniverse_schema.json.