ATM IV Term Structure
IV Changes
Volatility Risk Premium
VRP = IV - RV. Positive means options are overpriced relative to actual volatility. Sellers have edge.
Volatility Interpretation
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25-Delta Risk Reversal
Skew Interpretation
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Gamma Exposure by Strike
GEX Key Levels
Dealer Hedging
When dealers are net long gamma, their hedging dampens price moves (sell rallies, buy dips = mean-reverting). When net short gamma, hedging amplifies moves (chase in both directions = trending). The GEX ratio and zero-gamma level are critical for strategy selection.
Open Interest by Strike
Open Interest by Expiry
Options Chain Explorer
Select an expiry to view the options chain
Market Confidence
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Factor Breakdown
Market Narrative
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