Platform guide

Contents

Introduction

This is a reference for every dashboard, chart, screener, and tool on the platform: what each metric is, how it is calculated where that is shown, and how to read the values you see on screen. It is meant to be searched and jumped around in, not read start to finish.

How this guide is organized

The guide follows the platform's own navigation: Core concepts first, then Home, Equities, Crypto, Futures, Cross-asset, Tools, Calculators, and Data sources and timing.

How to read it. Every documented component follows the same template: its name, what it is, how it is calculated (where shown), and how to read the value. Use the on-page navigation to jump straight to a section, or a browser search for a specific term.

What's shown in full

This guide favors clarity over completeness of internal construction: standard metrics are shown in full, while proprietary composites are described by their inputs and interpretation so you know how to use them.

How to read it. Where a formula appears, it is a widely used calculation you could reproduce yourself. Where a component blends several inputs into a proprietary composite, you will instead see what goes in, what comes out, and what it means, without the exact combination.

Core concepts

Z-score

How far a current value sits from its own recent average, measured in standard deviations. Used across the platform to flag extremes.

z = (x - mu) / sigma

How to read it. Around 0 is normal. +/-2 is extreme (highlighted amber on the platform), +/-3 is very extreme (red). The sign says which side of normal.

Percentile rank

Where today sits inside its own history, from 0 to 100.

pct = (count of past values ≤ x) / (total values) × 100

How to read it. 90 means today is higher than 90 percent of the lookback. Pairs with a z-score to show both distance and rank.

Decile

A 1 to 10 ranking bucket. Decile 10 is the top 10 percent, decile 1 the bottom 10 percent.

How to read it. Used for momentum ranking metrics. Higher deciles rank stronger versus the comparison set.

Variance Risk Premium (VRP)

The gap between what options imply and what the underlying actually did.

VRP = IV - RV

How to read it. Positive means options are pricing more movement than realized (rich). Negative means cheap. Contextualized with a VRP z-score.

EMA / SMA smoothing

Moving averages used to filter noise from a series before display.

EMA_t = alpha × value_t + (1 - alpha) × EMA_t-1

How to read it. A longer period is smoother but slower. Several regime charts compare a series with its own EMA to show which side of its recent trend it sits on.

Annualization

Scaling a per-period rate to a yearly figure for comparison (e.g. perpetual funding shown as an annual percentage).

annual = rate_per_period × periods_per_year

How to read it. Lets an 8-hour funding rate and a daily rate be compared on one axis.

Home

The premium home page opens on today's date with account actions at the top right, then five tabs: Macro, Equities, Volatility, Futures, and Crypto. The tab you last opened is remembered, and the tab also sits in the page address, so a link opens on it. Each tab follows the same frame: a strip of headline tiles, a board or list beside a wide chart, then a row of cards. Every name, tile, and dot on the page opens the matching page, and every scatter opens fullscreen from its expand icon. The home page builds nothing of its own; each card surfaces a read documented elsewhere in this guide. Free accounts see sample cards for the free symbols instead.

Extremes cards

The cards along the bottom of the Equities, Futures, and Crypto tabs. Each lists the names furthest out on one read, with both sides stacked one over the other under their own labels (for example Positive and Negative, Rich and Cheap, or Backwardation and Contango).

How to read it. The top names on each side are shown, most extreme first, with each name's reading on the right. An empty side says "None at extremes". Clicking a name opens its page.

Macro

Cross-market strip, briefing, and Strategy Map

Ten tiles across equity index futures, the VIX, the 10-year note, the dollar, gold, crude oil, Bitcoin, and Ether, each with its level and 1-day, 1-week, and 1-month change. Below it, today's briefing sits beside the Strategy Map for the Macro basket, and a bottom row lists today's high-impact events and the next session's earnings.

How to read it. A one-screen read of where the major markets stand before opening anything else. The briefing links to the full version, the events card to the calendar, and the Strategy Map is the same chart as on the equities Global page.

Equities

Condition strip, Sectors, and Regime vs 1M Move

Three chips for the SPX Regime conditions (VIX term structure, credit, and breadth), each Positive or Negative with its z-score. Below them, the Sectors board lists the index ETFs and then the eleven sector ETFs with 1-day, 1-week, and 1-month returns and the momentum reading, beside the Regime vs 1M Move chart for the Stocks basket.

How to read it. The chips link to the matching tab of the SPX page (see Equities, SPX Dashboard). The chart is documented under Cross-Asset, Regime vs 1M Move.

Momentum, Skew, and Dark pool extremes

Three extremes cards over single stocks with at least 50,000 average daily option volume: the highest and lowest momentum readings, the most stretched skew z-scores, and the most stretched short-volume-ratio z-scores.

How to read it. Each side lists the top names at that extreme. The three reads are the equity Regime's own components, so a name that shows up on the same side of several cards has components that agree.

Volatility

VIX strip, Vol board, and carry chart

Five tiles: the VIX with its daily change, VIX beta, its percentile against the past year, the VIX to 3-month VIX spread z-score, and the curve shape (Contango or Backwardation). Below, the Vol board lists eleven cross-asset markets (SPY, QQQ, TLT, HYG, GLD, SLV, crude oil, the dollar, the euro, Bitcoin, and Ether) grouped by category: US equity, rates, credit, metals, energy and materials, FX, and crypto. Beside it sits the Vol Risk Premium vs Realized Vol scatter for the Macro basket.

How to read it. Vol board columns are Spot, IV 30d, the 1-week change in IV, IV percentile, RV 20d, IV/RV, VRP, VRP percentile, Term (IV 30d over IV 90d, above 1 is inverted), Skew, and Skew percentile. Percentiles at either end of the past year are highlighted. VIX beta and the term spread are documented under Equities, SPX Dashboard.

Strategy cards

Five cards with the top names each volatility screener shows today: Sell vol, Forward factor, Earnings, Pre-earnings, and PEAD.

How to read it. Each name opens its page. The selection rules are those of the matching screener under Equities, Screeners.

Futures

Category strip, Positioning Index, and Regime vs 1M Move

Nine category tiles with the equal-weighted 1-day, 1-week, and 1-month move of each futures category, tinted by the weekly move so the strip reads as a heatmap. Below, the Positioning Index board lists the most bullish and most bearish readings across every futures market, beside the Regime vs 1M Move chart for the whole board.

How to read it. The Positioning Index is documented under Futures, Dashboard & Global, and the chart under Cross-Asset, Regime vs 1M Move. The board gives the positioning side of each market and the chart the trend side.

Skew, Valuation, Seasonal, and Curve extremes

Four extremes cards: the most stretched skew z-scores, Valuation (Rich and Cheap), the strongest seasonal tendencies each way, and the curve (Backwardation and Contango).

How to read it. Three names per side. Each read is documented under Futures.

Crypto

Market strip, Regime vs 1M Move, and Risk Appetite Index

Five tiles: total perpetual open interest with its z-score and 1-day and 1-week change, BTC dominance, average funding (annualized, with the per-8-hour rate and the reading a week ago), liquidations split into longs and shorts, and breadth, the count of the largest perpetuals trading above their 50-day average. Below, the Regime vs 1M Move chart for the tracked perpetuals sits beside the Risk Appetite Index.

How to read it. Average funding turns amber when it sits well above the level most markets rest at. The Risk Appetite Index card shows one year; its expand icon opens the full chart with the period toggle and stats (see Crypto, Dashboard & Global). The chart is documented under Cross-Asset, Regime vs 1M Move.

Open interest, Funding, Orderbook, and Liquidations extremes

Four extremes cards: open interest and funding z-scores (High and Low), order-book imbalance (Bid heavy and Ask heavy), and liquidations (Longs and Shorts).

How to read it. Larger markets by open interest are listed first. Each read is documented under Crypto, Perpetuals Analysis and Spot Analytics.

Equities

SPX dashboard

The broad-market dashboard for the S&P 500: index price, then a section each for volatility, credit, and breadth.

Top stats bar

Index last price and percent change against the prior close.

How to read it. A quick read of where the index stands before looking at the sections below.

SPX Regime conditions

Three condition reads for the broad market, one each for the VIX term structure, credit, and breadth, each labeled Positive or Negative with its z-score. The same three chips head the homepage Equities tab and link to the matching tab of this page.

How to read it. Each chip is documented below as VIX Regime, Credit Regime, and Breadth Regime. When they agree the market backdrop is broadly supportive or broadly strained; when they split, conditions are mixed.

VIX Regime

Whether near-term volatility is priced richer or cheaper than the medium term, read off the ratio of the VIX to the 3-month VIX.

ratio = VIX / VIX3M

How to read it. Below the EMA reads Bull, above it reads Bear.

VIX Z-Score

How stretched the VIX/VIX3M ratio is against its own one-year history.

How to read it. See Core Concepts for the z-score scale. Shown with a percentile rank alongside it.

VIX Term Structure

The current VIX9D, VIX, VIX3M, and VIX6M readings placed against their own historical range.

How to read it. Each tenor is shown against its minimum, 25th percentile, median, 75th percentile, and maximum over the lookback, with an overall percentile stat for where today sits. A curve that dips as tenor extends (near-term priced richer than far-term) is the less common, more stressed shape; sloping upward is the typical one.

VIX Term Spread

The gap in volatility points between two points on the VIX curve, tracked through time. Six legs sit behind one selector, from VIX minus VIX9D at the front out to VIX6M minus VIX9D across the whole curve.

spread = far tenor - near tenor

How to read it. Positive is contango: the later tenor prices richer, which is the ordinary shape and what a short-vol carry position is paid for. Negative is backwardation: the market is paying more for protection over the next few weeks than over the next few months, which is what an event or a shock looks like. The dashed line is the 20-day median, so a spread pulling away from it is moving faster than its own recent norm, and the percentile places today against the same spread's own year.

VIX Beta

How much the front-month VIX future moves for a given move in the S&P, refitted every session. Spot VIX is not tradeable; the front future is, so this measures the leg you would actually hold.

beta = slope of %change(UX1) regressed on %change(SPX)

How to read it. Beta -4 means a 1% fall in SPX moves the front future about 4% higher, so the level is your position's multiplier. The shaded band is where beta has spent the middle half of the past year, which is what turns a bare number into rich or cheap. The setup worth watching is beta climbing toward zero while the future grinds lower: volatility running into its floor, where each further rally costs a long position less and less while a reversal still re-rates it. The R² beside the value says how much to trust the reading: a loose month makes the slope a weak estimate.

VIX Beta Regression

The scatter the beta is fitted from. One dot per session, with the S&P's daily move on the horizontal axis and the front-month VIX future's daily move on the vertical. Dots fade with age, so the brightest is the latest session.

How to read it. The solid line is the current window's fit, and its slope is the beta shown on the card beside it. The two faded lines are the prior two 21-session windows. Watch the fan rather than any single line: three slopes flattening in sequence is sensitivity decaying month over month, which is the same story the beta chart tells, seen as the arithmetic behind it. R² is printed per window, because a flat slope from a tight cloud and a flat slope from a scattered one mean different things.

Credit Regime

Corporate bond risk pricing, read off the gap between high-yield and investment-grade option-adjusted spreads.

spread = OAS_HY - OAS_IG

How to read it. Above the EMA means the spread is running wider than its recent trend (credit conditions tightening); below it means the spread is running narrower (conditions easing).

Credit Z-Score

How stretched the credit spread is against its own history, sign-flipped so a higher z-score reads as calmer conditions (tighter spreads).

How to read it. See Core Concepts for the z-score scale. Shown with a percentile.

Credit Spread (PPO)

The percentage gap between the current credit spread and its own 100-day average, a percentage price oscillator.

PPO = (spread - avg₁₀₀) / avg₁₀₀ × 100

How to read it. Positive means the spread is running wider than its recent norm (credit stress building); negative means it is running tighter.

Breadth Regime

Market participation, read off a cumulative advance-decline line for listed stocks.

AD_t = AD_t-1 + (advancers_t - decliners_t)

How to read it. Above the EMA means participation is broadening; below it means participation is narrowing even if the index itself is flat or higher.

Breadth Z-Score

How stretched the advance-decline line is against its own history.

How to read it. See Core Concepts for the z-score scale. Shown with a percentile.

R3TW

The percent of listed issues trading above their own 20-day average, smoothed over 5 days.

How to read it. A drop below 20 percent followed by a reclaim back above it marks a washout-and-recovery window, shaded on the chart.

Options analytics

The per-symbol options page, organized into Volatility, Skew, Dark Pool, and Forward Volatility. Stocks land on a tab labeled Volatility; ETFs, which carry no earnings, land on the same page under a tab labeled Analysis. Both are the same content.

Top stats bar

Sector, price, 30-day implied vol with its one-year percentile rank, 20-day realized vol with its percentile rank, average volume, and the next earnings date with days-to-earnings.

How to read it. A snapshot of where implied and realized vol sit before looking at the charts below.

Price, IV & RV

Price plotted with 30-day implied vol and 20-day realized vol overlaid.

How to read it. Shows at a glance whether the options market or the tape itself is moving more, and whether the two are converging or diverging.

VRP by IV/RV Percentile

A toggle between IV and RV: today's one-year percentile of whichever is selected, plotted against the variance risk premium, with a regression line fit across history.

How to read it. See Core Concepts for percentile rank and VRP. The regression line summarizes whether a rich or cheap percentile reading has historically lined up with a wider or narrower VRP.

Spot-Vol Correlation

A scatter of the daily stock return against the daily change in implied vol, colored by how recently each point sits, with a regression line.

How to read it. A negative slope, down days coinciding with IV rising, is the typical equity pattern. The recency coloring shows whether that relationship has held steady lately or shifted.

Term Structure

Current implied vol, including and excluding the earnings effect, and realized vol, plotted by tenor from 10 days out to 6 months.

How to read it. An upward-sloping curve, longer tenors priced richer, is the typical shape. A curve that dips at the front is often event risk being priced into the near-dated options specifically.

Volatility Cone

Historical realized (or implied, toggle) vol range at each tenor: minimum, 25th percentile, median, 75th percentile, and maximum, with the current reading overlaid.

How to read it. Placing today's IV or RV inside its own historical band, by tenor, shows whether the current level is unusually high or low for that specific horizon rather than only for the 30-day point everything else is quoted at. See Core Concepts for percentile rank.

Variance Risk Premium (VRP)

Implied vol minus realized vol, in vol points, with a tenor dropdown of 30d, 10d, and 60d.

VRP = IV - RV

How to read it. Positive means options are pricing more movement than the stock has been realizing (rich); negative means options are pricing less (cheap). A lagged icon switches from the current reading, IV against the window that just ended, to a lagged one that compares each day's implied vol with the vol realized over the window that followed it, so the last window's bars are absent because that window has not finished. An earnings icon strips the earnings effect from both legs of the 30d tenor. The stats row carries the current value, IV/RV, percentile, z-score, mean, and standard deviation over the trailing year; in lagged mode it shows the value as of its date with mean and standard deviation only.

Volatility Forecast

A model forecast of where implied vol, realized vol, and the variance risk premium are headed, at 10, 30, and 60-day horizons.

Inputs. The symbol's own implied and realized vol history.

Output. A forecast value at each horizon with a 10th-to-90th percentile uncertainty band, plus a badge showing the modeled probability the value ends up higher than today. The model itself is proprietary and not shown.

How to read it. Sits beside the VRP chart for a direct comparison between where VRP is now and where the model expects it to be.

Short Straddle Backtest

A simulated history of selling an at-the-money straddle and holding it to expiration, repeated across every expiration cycle in the symbol's history.

How to read it. Reports mean return, standard deviation, worst outcome, and win rate across the simulated cycles. The roughly 21 trading days around each stock split are excluded so a split does not read as an extreme move.

IV Term Spread

The implied vol spread between two tenors.

slope = IV_back - IV_front

How to read it. Positive means the longer tenor is priced richer, the usual upward-sloping shape; negative means the curve is inverted, front priced richer than back.

Open Interest by Strike

A histogram of open option interest by strike for a selectable expiration, with the current price marked.

How to read it. Strikes carrying unusually large open interest can act as levels where hedging flow concentrates.

25-Delta Skew Z-Score

How stretched the gap between call and put implied vol is against its own one-year history.

skew = IV_call - IV_put

How to read it. See Core Concepts for the z-score scale.

Volatility Smile

Implied volatility at each delta, from the 5-delta put to the 5-delta call, one line per tenor, for the latest session.

How to read it. Puts priced above calls is the equity norm. A steeper downside shows protection being paid for; a lifted upside shows calls being bid.

Skew Projection

A model projection of where skew should sit given current price and volatility conditions, compared against where it is actually trading.

Inputs. Current price and volatility conditions.

Output. A projected skew level plotted alongside the actual level. The model is proprietary and not shown.

How to read it. A wide gap between the projected and actual level shows the smile trading unusually stretched against current conditions.

Call/Put Skew

Out-of-the-money call implied vol and out-of-the-money put implied vol plotted separately against the at-the-money level.

How to read it. Shows which side of the smile is actually carrying the richer pricing, since the combined skew number alone cannot show that.

Short Volume Ratio

The share of off-exchange trading volume marked as short, z-scored against its own history.

SVR = short_volume / total_volume

How to read it. The platform's convention reads a high ratio as bullish positioning: heavy short-marked off-exchange volume most often reflects market-makers shorting to fill incoming buy orders.

Dark Pool Volume

Total off-exchange trading volume, with the short-marked portion shown as a sub-stat.

How to read it. A rising trend shows more trading migrating off the lit exchanges, independent of which direction it is marked.

Forward Factor Term Structure

How much richer the near-term option is priced than the volatility implied for the window between it and a further-out expiration.

FF = (IV_front / vol_fwd - 1) × 100

How to read it. Selectable tenor pairs: 20-30, 30-60, 30-90, 60-90, and 90-180 day. The screener flags this as elevated above 20 percent for stocks and 16 percent for ETFs.

Forward Factor Tracker

The history of the forward factor for a selected tenor pair, rather than just today's reading.

How to read it. Shows whether the current reading is a persistent condition or a recent spike.

Earnings analytics

A dedicated tab for a symbol's earnings history and the options pricing around it. ETFs carry no earnings and redirect away from this tab.

Summary stats

A grid of headline earnings numbers: next earnings date, implied move, implied move against the historical realized move, the historical realized and implied moves, the average IV crush, total straddle return, and Straddle / Avg Move.

How to read it. A quick scorecard before looking at the history behind each number.

Average IV Crush

The average percent drop from pre-earnings to post-earnings implied vol, across the symbol's earnings history.

How to read it. A larger crush means the options market has consistently priced in more event premium than the volatility that actually remains once the print passes.

Straddle / Avg Move

What the straddle covering the report costs against the stock's own average earnings move. The straddle is the ATM straddle on the first monthly expiry after the report, estimated from the ex-earnings 30-day IV and the implied earnings move, in percent of spot.

Inputs. Ex-earnings 30-day IV, the implied earnings move, days to that monthly expiry, and the average earnings move.

Output. Straddle estimate divided by the average move. At or below 2.33x it reads Cheap.

How to read it. It is one of the three Pre-Earnings screener conditions; the screener adds a negative ex-earnings VRP and a report no more than 15 days before the expiry.

Expected vs Realized Moves

The implied move priced ahead of each past earnings report, next to what the stock actually did, event by event.

How to read it. A pattern of realized moves consistently smaller than implied points to options that have tended to overprice this symbol's earnings events; the reverse points to underpricing.

Earnings Straddle Backtest

A simulated history of shorting the at-the-money straddle ahead of earnings and closing it after the report, repeated across every earnings cycle in the symbol's history.

How to read it. Same statistics as the standalone straddle backtest, mean return, standard deviation, worst outcome, and win rate, but scoped to earnings cycles only.

IV Crush

Implied vol immediately before versus immediately after each earnings report.

How to read it. The size of the drop each cycle is the raw data behind the Average IV Crush stat above.

Quarterly Moves

Post-earnings moves grouped by fiscal quarter.

How to read it. Shows whether one quarter of the year has tended to produce bigger or more consistent moves than the others.

IV/RV Term Structure (earnings context)

Implied vol by tenor against realized vol, viewed specifically in the window leading into the earnings date, alongside the implied move and days-to-earnings.

How to read it. The same term structure shown on the options tab, framed around the upcoming print rather than the general case.

Earnings Premium by Expiration

The vol points of pure earnings-event premium priced into each expiration.

How to read it. Shows which expiration is carrying the most event premium, useful for choosing which cycle to trade around the print.

Earnings Premium Build-up

How the front expiration's earnings premium has built up or decayed over time, into the print.

How to read it. A rising line means the market is pricing in more event risk the closer the report gets; a falling line means the opposite.

Post-Earnings Drift

A score for whether the stock has historically kept moving in the direction of an earnings surprise over the following month, or reversed instead.

Inputs. The stock's own history of earnings-day surprises and the return over the following 21 trading days.

Output. A score from 0 to 100 percent, labeled from Mean-Reverting to Trending, alongside the average drift, the most recent drift (up or down, drift or reversal), and the number of qualifying events. How the score is built from the inputs is proprietary and not shown.

How to read it. Only shown when the symbol has enough qualifying history. The same score drives the PEAD screener.

Fundamentals

A company-profile tab: identity, business description, standard fundamentals, and recent news, alongside the volatility and positioning reads documented elsewhere on the symbol's pages.

Company header

Company logo, name, sector and industry badges, current price, and percent change.

How to read it. Orientation before the detail below.

Description

A company description, truncated to its first three sentences with a Read More expansion.

How to read it. A quick primer on what the company does.

Key stats

Market cap, P/E ratio with a forward P/E sub-value, 24-hour dollar volume with its average sub-value, volume percent change against the 20-day average, 52-week high, and 52-week low.

P/E = price / EPS

How to read it. A standard fundamentals snapshot, useful context alongside the volatility and positioning reads elsewhere on the symbol's pages.

News and Press Releases

Two tabbed lists, up to 10 items each, of recent news articles and company press releases: headline, short teaser, author, and relative time.

How to read it. Each item links out to its original source.

Overview

Each symbol page opens on its Overview: a price chart with an indicator pane beneath it, the company brief and latest news beside it, then the momentum ranking cards and two tape reads. The shared reads are documented once, under Cross-Asset, since they work the same way across equities, crypto, and futures.

Price chart and indicator pane

Price over a selectable period (YTD, 1Y, 5Y, All), with an optional 200-day moving average and an open-interest-by-strike profile, and a lower pane that shows one indicator at a time. The pane defaults to the Regime; a selector switches it to the Momentum indicator, and a toggle hides it.

How to read it. The Regime for equities combines momentum, momentum relative to the market, options skew, and dark pool activity into one reading from -100 to +100; see Cross-Asset, Regime. Momentum is documented under Cross-Asset, Momentum Indicator. A name outside the Regime universe shows the Momentum pane only. The chart opens fullscreen from its expand icon.

Momentum Readings

A panel of trend and ranking cards: the trend over the lookback, distance from the 52-week high, rank in its universe, relative strength, sector trend, and options volume.

How to read it. Documented in full under Cross-Asset, Ranking Metrics.

Directional Intensity and Volatility Regime

Two supplementary series shown side by side under the ranking cards.

How to read it. Documented under Cross-Asset, Supplementary Indicators.

Price Distribution

Two overlaid probability curves for where the stock may land: an Implied Distribution built from option prices alone, and the platform's own distribution, which also takes in realized volatility and the current trend and positioning reads.

Inputs. Implied volatility, realized volatility, the momentum reading, skew, and the earnings context where a report is near.

Output. A second probability curve plotted against the market-implied one. How the inputs reshape it is proprietary and not shown.

How to read it. A gap between the two curves shows where the platform's view of current conditions differs from what option prices alone imply. Treat it as context for choosing strikes alongside your own view of the name.

Screeners

Most screeners share a base column set: Symbol, Sector (where relevant), Price, IV 30-day with percentile, RV 20-day with percentile, IV Term Spread, Average Volume, and VRP with percentile. Several also add a 30-day forecast column next to IV, RV, or VRP; those forecast columns are the same model documented under Options Analytics, Volatility Forecast, and its internals are not shown. The ranking or selection logic behind every screener below is disclosed in-app and repeated here; only a small number of proprietary model internals stay hidden, called out where they appear.

Momentum Screener

A Positive/Negative toggle across the full stock or ETF universe. Positive keeps names where cross-sectional momentum, time-series momentum, and relative momentum deciles are all 7 or higher (of 10) and the TradingRiot Indicator is in an uptrend. Negative is the mirror: deciles of 3 or lower and the indicator in a downtrend. Names with a pending takeover are excluded either way. A Stocks/ETFs toggle switches the universe, Skew and Dark Pool filters narrow further to names also at an extreme on those reads, and a Top Plays toggle tightens to names where several of these reads agree.

How to read it. Columns: Symbol, Sector, Price, IV 30-day, IV percentile, RV 20-day, RV percentile, TS Slope, Avg Vol, VRP, VRP percentile, Earn (days to next earnings), Mom (the momentum indicator value), Skew Z, Dark Pool, Momentum, Mom Z (the indicator placed against the name's own history), and the 1-month and 3-month trailing returns. The same momentum block appears on every equity screener below.

Skew Screener

A Call/Put toggle. Bullish keeps names with a skew z-score at or above +2; bearish keeps names at or below -2. Both require price above $10 and exclude a 7-day window either side of earnings. A Dark Pool confluence filter and a Top Plays toggle narrow further.

How to read it. Same base columns plus Earn, Mom, Skew Z, Dark Pool, Momentum, Mom Z, and the 1-month and 3-month trailing returns.

Dark Pool Screener

A Positive/Negative toggle. Positive keeps names with a short-volume-ratio z-score at or above +2, negative at or below -2; the platform's convention reads a high ratio as bullish (see Options Analytics, Short Volume Ratio). Price above $10, a Skew confluence filter, and a Top Plays toggle.

How to read it. Same base columns plus Earn, Mom, Skew Z, Dark Pool, Momentum, Mom Z, and the 1-month and 3-month trailing returns.

Directional Screener

A single sortable list, no bullish/bearish split, defaulting to a sort by the momentum score. A Stocks/ETFs toggle, Skew and Dark Pool extreme-value filters, a sector multi-select, and a minimum-volume slider.

How to read it. Columns: Symbol, Price, Opt Vol, rVol Δ1D, rVol Δ1W, rVol Δ1M (relative volume change over three windows), Vol Exp (a realized-vol expansion ladder), VRP, Skew Z, DP Z, MOM, the 1W, 1M and 3M trailing returns, and Phase: where the name sits in its Regime cycle, with the same rules as the futures screener (Divergence, Climax past +/-70, Initiation, Trend, Base), except that Initiation allows a 3-month move up to 25 percent.

Volatility Screener

A Sell Vol / Buy Vol toggle on the sign of the ex-earnings variance risk premium: Sell Vol surfaces names where implied vol is priced rich against realized (VRP above zero), Buy Vol where it is priced cheap (VRP below zero). Both require price above $10 and exclude a 7-day window either side of earnings. A Top Plays toggle tightens further, to IV percentile 40 to 80, RV percentile 20 to 80, and VRP above 1 for Sell Vol, or IV percentile 20 to 60, RV percentile above 20, and VRP below 5 for Buy Vol.

How to read it. Base columns including the IV, RV, and VRP 30-day forecast columns, plus Earn.

Earnings Screener

Upcoming reports within a selectable window (3, 7, 14, or 30 days). Stocks only, minimum 10,000 average option volume, price above $10, implied move greater than the average historical move, and no pending takeovers.

How to read it. Columns: Symbol, Price, IV 30-day, TS Slope, Avg Vol, VRP, VRP percentile, Earnings (date), Time, Mean Straddle, Total Straddle, and Impl/Avg. IV percentile, RV 20-day, and RV percentile are left off this screener.

Forward Factor Screener

A selectable tenor pair (20-30, 30-60, 60-90, or 90-180 day). Keeps names where the ex-earnings forward factor is above 20 percent for stocks or 16 percent for ETFs, excluding a 7-day window either side of earnings.

How to read it. Base columns including the forecast columns, plus Earn and FF for the selected tenor pair.

Pre-Earnings Screener

Long straddle candidates ahead of earnings due in 7 to 21 days. A name is listed when three conditions hold: the ex-earnings VRP is below zero, the estimated straddle on the first monthly expiry after the report costs no more than 2.33 times the average earnings move, and the report lands no more than 15 calendar days before that expiry. The setup buys the straddle about 21 days before the report and sells it at the last close before the report. Cheapest straddle against the average move first.

How to read it. Base columns, plus Earnings (date and time), Expiry (the monthly expiry and its days after the report), Impl Move, Avg Move, Straddle, Straddle / Avg, and Ex-Earn VRP.

PEAD Screener

Post-earnings-drift candidates: reported within the last 7 days, where the actual move outran the implied move (a genuine surprise), a PEAD score of 70 percent or higher, price above $10, and options volume of at least 5,000. Skew and Dark Pool confluence filter toggles narrow further.

How to read it. Columns: Symbol, Sector, Price, IV 30-day, IV percentile, RV 20-day, RV percentile, TS Slope, Avg Vol, VRP, VRP percentile, PEAD Score, Reported, Avg Drift, Impl Move, Momentum, Skew Z, and Dark Pool.

Volatility lens

One horizontal scatter row per symbol, grouped and colored by sector for stocks or by category for ETFs, with a Stocks/ETFs switch. Two groups of dots sit behind a selector, and each series inside the active group can be toggled on or off.

Regime group

The default group: each name's Overall Regime, drawn as a larger ringed dot, with its four components beside it: Momentum, Momentum readings (momentum relative to the market), Options skew, and Dark pool.

How to read it. Every dot is placed against that name's own history on a shared z-score axis, so a component sitting far from its usual level stands out across the board. Hovering a dot shows the underlying score. Reading the Overall Regime next to its components shows which inputs are driving it and which disagree. Names without a published Regime show their screener Momentum, Options skew, and Dark pool readings. The Regime is documented under Cross-Asset, Regime.

Volatility group

Four series, each individually toggleable: VRP, IV percentile, RV percentile, and Steepness (the term-structure-slope z-score).

How to read it. Each series is plotted as a z-score on a shared -6 to +6 axis, with shaded bands marking the extreme zone at |z| >= 2. See Core Concepts.

Per-metric history tooltip

Hovering a dot shows the current reading alongside where it stood 1, 7, and 30 days ago, where a history exists.

How to read it. VRP has no historical series in this view, only the current reading.

Show Extremes

A toggle that filters every series down to only the dots at |z| >= 2.

How to read it. A fast way to scan the whole universe for whichever series is currently showing the most stretched readings.

Navigating from a dot

Clicking any dot opens that symbol's page.

How to read it. The fastest path from a lens-level extreme into the full detail behind it.

Global

Sector ETF Performance

Relative percent performance of the major S&P sector ETFs over a selectable window.

How to read it. Ranks sectors against each other to show where strength or weakness is concentrated.

International ETF Performance

Relative percent performance of major country and regional ETFs over a selectable window.

How to read it. The same relative-performance view, applied outside the US.

Strategy Map and cross-sectional charts

A basket selector (Macro, International, Sectors, Stocks) drives a set of cross-sectional volatility charts: sigma moves over three horizons, the Strategy Map, momentum against skew, IV against skew, term structure, and volatility risk premium against realized volatility. The Macro basket also leads with the Macro Volatility Board.

How to read it. Every chart plots the same basket on shared axes, one dot per market, so a name that stands apart from its peers is visible at a glance. Clicking a market opens its page.

Regime vs 1M Move

Each name's Regime against its past month's move in implied sigmas, on its own row under the Strategy Map for every basket.

How to read it. Documented under Cross-Asset, Regime vs 1M Move.

Crypto

Perpetuals analysis

The Perpetuals section covers open interest, funding, liquidations, and their rolling z-scores. It separates perpetual positioning from the executed cash-market flow in Spot.

Open Interest

The total dollar value of open perpetual futures positions across major exchanges, plotted as a plain time series over the last year.

How to read it. Rising open interest alongside a rising price points to new long positioning; rising open interest with a falling price points to fresh shorts.

Funding Rate

The periodic payment exchanged between long and short perpetual positions, keeping the perpetual price anchored to spot.

funding_annualized = funding_rate × 3 × 365

How to read it. A positive rate means longs pay shorts, the perpetual trading above spot with crowded long positioning. A negative rate means shorts pay longs, the opposite crowding. The stats row shows both the current periodic rate and the annualized figure.

Liquidations Delta

Long liquidations minus short liquidations, in dollar terms, shown as a bar chart.

liquidations_delta = long_liquidations - short_liquidations

How to read it. A bar above zero means more longs were forced out than shorts, typically alongside a sharp drop; a bar below zero means more shorts were forced out, typically alongside a sharp rally.

Open Interest Z-Score

A rolling z-score of open interest against its own history.

z = (x - mu) / sigma

How to read it. Plotted with +/-2 reference lines (see Core Concepts for the scale). A button toggles a price overlay, so an open-interest extreme can be checked against what price was doing at the same time.

Funding Z-Score

The same rolling z-score construction as Open Interest Z-Score above, applied to the funding rate instead of open interest.

How to read it. Same +/-2 reference lines and price-overlay toggle as the open interest z-score.

Liquidations Z-Score

The same rolling z-score construction, applied to liquidation volume.

How to read it. Same +/-2 reference lines and price-overlay toggle.

Spot analytics

The Spot section combines executed flow aggregated across supported venues with resting order-book liquidity. The flow charts load together from one daily timeseries.

Spot Delta

Daily spot taker-buy dollar volume minus taker-sell dollar volume aggregated across supported venues.

spot_delta = buy_dollar_volume - sell_dollar_volume

How to read it. Positive bars show net aggressive spot buying. Negative bars show net aggressive spot selling.

Spot Flow Z-Score

Daily spot buy-minus-sell dollar volume measured against its trailing 90 observations.

How to read it. Readings above +2 mark unusually strong buying flow. Readings below -2 mark unusually strong selling flow.

Relative Spot Volume

Aggregated daily spot dollar volume divided by its trailing 30-observation average.

relative_spot_volume = daily_spot_volume / average_spot_volume_30d

How to read it. A value of 1.0 is normal recent participation. Values above 1.0 show heavier activity than the recent average.

Order Book Depth

Bid depth minus ask depth within 10 percent of the spot price, shown as a bar chart. Only shown when spot order-book data is available for the symbol.

depth_delta = bid_depth_10pct - ask_depth_10pct

How to read it. A positive bar means more resting buy orders than sell orders near the current price, a negative bar the reverse.

Order Book Skew Z-Score

The same 90-observation rolling z-score construction as Open Interest Z-Score above, applied to the order-book depth delta.

How to read it. Same +/-2 reference lines as the other z-scores on this tab.

Options (BTC/ETH)

Options data is only available for BTC and ETH, the two crypto assets with a tracked options market. These charts render as extra sections on the same Analysis tab, grouped into volatility, skew, and forward volatility and open interest.

Price with IV and RV overlay

The underlying price plotted with 30-day implied volatility and 30-day realized volatility on a second axis.

How to read it. Lets a price move be read alongside how implied and realized volatility responded to it in the same window.

VRP by IV/RV Percentile

A scatter of today's percentile rank (against its own one-year history) of either implied or realized volatility, toggle-selectable, against the variance risk premium on that same day.

How to read it. Points are colored by how recent they are (0-10, 11-30, 31-90, and 90-plus days ago), fit with a regression line. See Core Concepts for the percentile-rank definition.

Spot-Vol Correlation

A scatter of the daily spot return against the same day's change in implied volatility, colored by recency and fit with a regression line.

How to read it. Equities typically show a negative relationship here, implied volatility rising as price falls. The same chart for crypto lets that relationship be checked against its own history rather than assumed.

Term Structure

Current implied and realized volatility at four tenors: 7, 30, 90, and 180 days.

How to read it. An upward-sloping curve, short-dated volatility below long-dated, is the typical shape; a downward slope (inverted) usually shows up around a known near-term catalyst.

Volatility Cone

The historical range of realized or implied volatility (toggle-selectable) at each tenor: minimum, 25th percentile, median, 75th percentile, and maximum, with the current reading overlaid.

How to read it. Shows whether today's reading at a given tenor sits inside its normal historical band or out at an extreme. See Core Concepts for how a percentile is computed.

Variance Risk Premium (VRP)

Implied vol minus realized vol, in vol points, for the option-tracked crypto assets, with a tenor dropdown of 30d, 7d, and 60d.

VRP = IV - RV

How to read it. Positive means options are pricing more movement than the coin has been realizing (rich); negative means options are pricing less (cheap). A lagged icon switches from the current reading, IV against the window that just ended, to a lagged one that compares each day's implied vol with the vol realized over the window that followed it, so the last window's bars are absent because that window has not finished. The stats row carries the current value, IV/RV, percentile, z-score, mean, and standard deviation over the trailing year; in lagged mode it shows the value as of its date with mean and standard deviation only.

Volatility Forecast

A forecast of implied volatility, realized volatility, and VRP at 10, 30, and 60-day horizons.

Inputs. Historical implied and realized volatility.

Output. A volatility forecast with a modeled uncertainty range: a forecast value at each horizon with a 10th-to-90th percentile band and a badge estimating the probability the reading moves up from here. The forecasting model is proprietary and not shown.

How to read it. Read the badge as a probability, not a certainty, and the band as the plausible range rather than the expected outcome.

Short Straddle Backtest

A simulation of selling an at-the-money straddle and holding it to expiry, repeated through the option's full history.

How to read it. Summary stats are the mean and standard deviation of the simulated profit and loss, the worst outcome, and the win rate across all historical repetitions. It shows how a simple short-volatility structure would have performed, not a live position.

IV Term Spread

The spread between two implied-volatility tenors, selectable between the 7-30 day pair and the 30-90 day pair.

slope = IV_long_tenor - IV_short_tenor

How to read it. A positive slope is the normal upward-sloping curve; a negative slope (inverted) usually marks near-term stress or an approaching catalyst.

25-Delta Skew Z-Score

A rolling z-score (one-year lookback) of the 25-delta skew.

skew_25d = IV_call25d - IV_put25d

How to read it. Equities typically read persistently negative here, downside puts trading rich most of the time. Crypto skew commonly flips sign, reading positive when call demand for upside outweighs put demand for downside protection. A price-overlay button is available, same as the other z-score charts.

Forward Factor Term Structure

The implied volatility the market is pricing for the period between two tenors, back-calculated from the two tenors' current implied volatility, shown as a bar chart across the available tenor pairs (7-30, 30-90, and 90-180 days).

forward_var = (IV_back² × T_back - IV_front² × T_front) / (T_back - T_front)

forward_vol = sqrt(forward_var)

forward_factor = (IV_front / forward_vol - 1) × 100

How to read it. A positive forward factor means the front-tenor implied volatility sits above the implied forward volatility for the period ahead, a form of term-structure richness; negative means the opposite.

Forward Factor Tracker

The same forward factor described above, tracked as a time series for one selected tenor pair.

How to read it. Shows whether the current reading is a persistent feature of the term structure or a recent shift.

Open Interest by Strike

Options open interest by strike price for a selected expiry, shown as a histogram with the current underlying price marked.

How to read it. Clusters of open interest above or below the current price can act as reference levels; the marker shows how far price sits from them.

Fundamentals

A dedicated tab with non-price context for the asset: a fundamentals summary and a recent news feed.

Fundamentals summary

A summary card with the asset's logo, name, an expandable description (the first three sentences, with a Read more link), and a stat grid: market cap, fully diluted valuation, circulating supply (with total supply shown as a sub-value), 24-hour volume, all-time high, and all-time low.

How to read it. The all-time high and low each show the percent distance from today's price: the distance below the all-time high is colored, the distance above the all-time low is always shown as a positive, favorable figure. Sourced from an external market-data feed, refreshed independently of the platform's own price history.

News

A list of up to 10 recent news items for the asset: headline, author, and a relative time stamp.

How to read it. Each item links out to the original source article. Pulled from an external news feed, useful for placing a sudden price or open-interest move against the day's headlines.

Overview

Each perpetual's page opens on its Overview: a fundamentals strip, a price chart with an indicator pane beneath it, the asset brief and latest news beside it, then the momentum ranking cards and two tape reads. The shared reads are documented once, under Cross-Asset.

Price chart and indicator pane

Price over a selectable period, with an optional 200-day moving average and, for BTC and ETH, an options open-interest profile, and a lower pane that shows one indicator at a time. The pane defaults to the Regime; a selector switches it to the Momentum indicator, and a toggle hides it.

How to read it. The Regime for crypto combines trend, funding, options skew where options are listed (BTC and ETH), and open interest into one reading from -100 to +100; see Cross-Asset, Regime. Momentum is documented under Cross-Asset, Momentum Indicator.

Below the chart, a metrics panel shows the ranking cards, cross-sectional momentum, time-series momentum, relative momentum, relative volume, and proximity to the 52-week high, documented under Cross-Asset, Ranking Metrics. Directional Intensity and Volatility Regime sit below it, documented under Cross-Asset, Supplementary Indicators.

Price Distribution

Two overlapping probability curves for BTC and ETH, shown only when both implied and realized volatility are available: an Implied Distribution built directly from options prices, and the platform's own distribution.

Inputs. Implied volatility, realized volatility, and the momentum reading for the asset.

Output. A second probability curve plotted against the market-implied one. How the inputs reshape it is not shown.

How to read it. A gap between the two curves shows where the platform's view of current conditions differs from what option prices alone imply. Treat it as context for structuring a position alongside your own view.

Dashboard and global

The Global page aggregates every tracked perpetual into market-wide reads rather than a single symbol. Only perpetuals above a minimum dollar open-interest threshold are tracked at all, so every aggregate below reflects a liquid, actively-traded universe rather than every token that exists.

Global indicator strip

Four headline numbers at the top of the page: total open interest across all tracked perpetuals, its 24-hour change, a 30-day rolling z-score of that total, and BTC's share of total open interest (BTC dominance).

How to read it. A quick read on whether the market is growing or shrinking in aggregate, and how concentrated it is in BTC versus everything else.

Regime vs 1M Move

Every tracked perpetual's Regime against its past month's move in realized sigmas, directly under the performance chart near the top of the page.

How to read it. Documented under Cross-Asset, Regime vs 1M Move. Crypto measures the move against realized volatility, since most coins have no listed options.

Risk Appetite Index

The altcoin share of total perpetual open interest, cleaned of outliers using a median and median-absolute-deviation approach, with a 1, 2, or 5-year toggle.

risk_appetite = 1 - btc_oi_dominance

How to read it. Rising means positioning is rotating from BTC into altcoins, a risk-on backdrop; falling means the opposite, positioning consolidating into BTC. On the homepage Crypto tab the card shows one year, and its expand icon opens the full chart with the period toggle and stats.

Global Liquidations

The aggregate long-minus-short liquidation delta across all tracked perpetuals, same construction as the per-symbol Liquidations Delta chart, with a 1, 2, or 5-year toggle.

How to read it. Large bars in either direction mark market-wide forced-selling or forced-covering events rather than a single symbol's own liquidations.

Global Open Interest

Total dollar open interest across all tracked perpetuals as a line chart, with toggles to isolate BTC, ETH, everything else, or the full global total.

How to read it. Compares how open interest is split across BTC, ETH, and the rest of the market over time, alongside the aggregate trend.

Global OI Z-Score

A rolling z-score of the aggregate open-interest series against its own history.

How to read it. Same +/-2 scale as any other z-score on the platform (see Core Concepts); an extreme reading here is a market-wide condition rather than a single symbol's.

Performance

A multi-line returns chart for the top names in a selected category: total open interest, volume percent change, open-interest percent change, top gainers, or top losers.

How to read it. Each symbol can be toggled on or off in the legend, which also shows the ranking value that placed it in the category.

Funding Rate Heatmap

A grid of symbol against date, colored by that day's funding rate, converted to an annualized percentage.

How to read it. Same annualization as the per-symbol Funding Rate above (rate multiplied by 3 payments a day and by 365). Color intensity marks how far funding sits from neutral on that day; scanning across a row shows a symbol's funding history, scanning down a column shows the whole market on one day.

Screener and lens

Two ranked views across every tracked perpetual, plus a compact visual strip.

Crypto Lens

A horizontal scatter, one row per symbol, sorted by open interest. Membership is every perpetual carrying at least 100 million dollars of open interest, and it is fixed for the week rather than re-ranked daily, so a name sitting near the cut line does not drop out and reappear on an ordinary move.

How to read it. Each row plots the Overall Regime, drawn as a larger ringed dot, with its components: Momentum, Funding, 25-delta Skew (BTC and ETH), and OI strength, which scales how strong the reading is while the direction comes from the other components. Depth (order-book) and Liquidations sit alongside for context. Every dot is placed against that market's own history on a shared z-score axis, and each series can be toggled. See Cross-Asset, Regime. Symbols are labeled by an open-interest tier (mega, large, mid) along the y-axis. Clicking a dot opens a modal with that symbol's detail, or links through to its page.

Crypto Screener

A sortable table of tracked perpetuals, with a slider to filter by minimum open interest from 10 million to over 100 million dollars. A Liquid-only toggle, on by default, restricts the table to markets listed on a major perpetual venue, which filters out single-venue listings and short-lived speculative markets. Turning it off shows every tracked perpetual.

How to read it. Columns: Symbol, Price, Open Interest, 24h OI change, 1-week OI change, OI z-score, Funding (annualized), Funding z-score, Liquidations z-score, Volume, order-book depth, order-book skew z-score, and the Regime (the Overview reading, -100 to +100). Toggle filters surface only symbols with an open-interest, funding, liquidations, or order-book z-score beyond +/-2. Phase, at the far right, reads where the coin sits in its Regime cycle with the same rules as the futures screener (Divergence, Climax past +/-70, Initiation, Trend, Base), except that Initiation allows a 3-month move up to 40 percent. Row click opens the same symbol modal as the Lens.

Crypto Momentum Screener

A table restricted to symbols the platform's cross-sectional ranking and momentum indicator currently agree on, with a Bullish and Bearish toggle.

How to read it. Bullish requires a cross-sectional rank of 7 or higher (out of 10) and a momentum reading in an uptrend; Bearish requires a rank of 3 or lower and a momentum reading in a downtrend. Columns: Symbol, Price, 1-week/1-month/3-month returns, proximity to the 52-week high, Rank (the cross-sectional decile, see Core Concepts), and Momentum (the indicator from Cross-Asset, Momentum Indicator). Row click opens a modal with that symbol's detail.

Futures

Analysis

The per-contract Analysis tab opens on positioning, valuation, and seasonality built from the weekly COT report and the contract's own price and curve history.

Top stats bar

A single inline row above the charts: last price and its one-day percent change, the Commercial and Large Speculator COT reads, Valuation against the contract's benchmark, and the 30-day seasonal bias.

How to read it. A plain summary of the five metrics documented below, with no chart of its own. Useful as a quick read before opening the fuller charts.

COT Index

Commitment of Traders positioning for a trader group, scaled 0 to 100 against its own trailing year, one line each for Commercial, Large Speculator, and Small Speculator (Small Speculator hidden by default).

COT Index = (Net - 52w Low) / (52w High - 52w Low) × 100

How to read it. If today's net position matches the highest net reading of the past year, the index reads 100; if it matches the lowest, it reads 0. A reading of 50 sits exactly halfway between the two. Reference lines are drawn at 90 and 10: above 90 that group is near a one-year positioning extreme on the long side, below 10 near an extreme on the short side. The chart updates weekly, on the COT report's cadence.

Net Positions

The raw net position (long contracts minus short contracts) for each trader group, from the same weekly COT report, plotted directly rather than scaled to a 0 to 100 range.

How to read it. A brushable chart for zooming into a date range, with each group's current net position also shown as a percentile against its own trailing three years. Pairs with the COT Index above: this shows the actual contract count behind the scaled reading.

Valuation

This contract's price measured against a related benchmark instrument (the dollar index for every currency contract and for gold, the 30-year bond for equity indices and the CME crypto contracts, gold for everything else), expressed as how far their price ratio sits from its own trailing year.

valuation = (ratio - mean(ratio, 252d)) / stdev(ratio, 252d)

How to read it. Reference lines sit at +2, 0, and -2. Below -2 the contract is cheap against its benchmark by its own past year; above +2 it is rich. Zero is the year's average relationship, and the reading updates daily since both legs are prices. This is a z-score of a price ratio rather than of returns, and price ratios trend, so 2 sigma is not the rare tail the number suggests: across the tracked contracts since 2016 the reading sits beyond it on roughly one session in seven, usually in short visits. Treat it as a state the market is in, not an event.

Seasonal Tendencies

The average detrended, cumulative price path a contract has traced through the calendar year, averaged over the trailing 15 years.

How to read it. Today's day-of-year is marked on the path, alongside the average forward return over the next 30, 60, and 90 days implied by that same 15-year average. It describes a historical tendency, not a forecast for this year.

Monthly Performance

The contract's average return by calendar month, and the share of those months that closed positive, both over a 15-year lookback.

How to read it. A bar chart, one bar per calendar month. A month with a large positive average return and a high win rate has historically been the most consistently favorable month to be long; the reverse holds for a negative average with a low win rate.

Futures Curve

The contract's price across delivery months, shown as of now alongside snapshots from one, three, and six months ago. Available only for a curated list of liquid roots across the major categories.

How to read it. Alongside the curve itself: the front-month price, the spread from the second to the front contract and from the twelfth to the front contract (both in basis points), and a shape label of Contango, Backwardation, or Flat.

Contango

The futures curve's near-to-far slope, annualized, alongside a rolling z-score of that slope against its own trailing year.

slope = ((back - front) / front) / years between them × 100

How to read it. The slope is in percent per year and is comparable across markets: positive is contango, negative backwardation. The z-score says where that sits against this market's own past year, so a market can be in contango and still print a negative z if its contango is unusually shallow for itself. See Core Concepts for the z-score scale.

Options

Options Analytics sits below the charts on the same Analysis tab: implied and realized volatility, variance risk premium, skew, and forward volatility for the contract's options.

Price IV & RV

Price plotted with 30-day implied volatility and 20-day realized volatility overlaid.

How to read it. Shows at a glance whether implied volatility is tracking, leading, or lagging what the underlying has actually done.

VRP by IV/RV Percentile

A scatter of today's one-year percentile of IV, or of RV, plotted against the variance risk premium, color-coded by how recently each point occurred.

How to read it. A regression line summarizes the historical relationship between how stretched IV or RV has been and the resulting VRP. Selectable by days-to-expiry band.

Spot-Vol Correlation

A scatter of the contract's daily percent price change against its daily implied-volatility change, over roughly the last year of observations.

How to read it. The regression line's slope and sign describe the spot-vol relationship: negative means vol tends to rise on down days (the more common pattern), positive means the reverse. The correlation coefficient itself is the same statistic documented under Calculators, Correlation Matrix.

Term Structure

Current implied and realized volatility read at four tenors: 30, 60, and 90 days, and 6 months.

How to read it. An upward-sloping curve (longer tenors pricing more volatility) is the more common shape; a downward slope (front-loaded volatility) usually reflects a near-term catalyst.

Volatility Cone

Historical percentile bands (minimum, 25th, median, 75th, and maximum) of realized or implied volatility at each tenor, with the current reading overlaid.

How to read it. Shows whether today's volatility, at a given tenor, is unusually high or low against the full historical range for that same tenor, not just against its own recent trend.

Variance Risk Premium

Implied vol minus realized vol, in vol points, with a tenor dropdown of 30d and 60d.

VRP = IV - RV

How to read it. Positive means options are pricing more movement than the contract has realized (rich); negative means options are pricing less (cheap). A lagged icon switches from the current reading, IV against the window that just ended, to a lagged one that compares each day's implied vol with the vol realized over the window that followed it, so the last window's bars are absent because that window has not finished. The stats row carries the current value, IV/RV, percentile, z-score, mean, and standard deviation over the trailing year; in lagged mode it shows the value as of its date with mean and standard deviation only.

Short Straddle Backtest

A simulation of selling an at-the-money straddle and holding it to expiration, repeated through the contract's history.

How to read it. Reports the mean and standard deviation of the simulated P&L, the worst outcome, and the win rate. A rough read on how a passive short-volatility position on this contract has held up historically, not a forecast.

IV Term Spread

The implied-volatility spread between two tenor points on the term structure, for a selectable pair.

slope = IV_tenor_b - IV_tenor_a

How to read it. Positive means the longer tenor in the pair is pricing more volatility than the shorter one; negative means the front end is richer.

25-delta Skew Z-Score

25-delta skew (call implied volatility minus put implied volatility), z-scored against its own trailing one-year history. Selectable across 30, 60, or 90-day tenor.

skew_z = (skew_25d - mean(skew_25d)) / stdev(skew_25d)

How to read it. Positive means calls are relatively rich (more upside demand priced in); negative means puts are relatively rich (more downside demand priced in). A platform-standard reading, comparable across contracts.

Volatility Smile

Implied volatility at each delta pillar from the 10-delta put to the 10-delta call, one line per tenor.

How to read it. A steep, one-sided shape shows where the market is paying up for protection or for upside; a flat shape shows a symmetric smile with no strong directional skew.

Skew Projection

A projection of where the volatility smile is likely to sit 30 days forward, plotted alongside today's smile and the smile from one month ago.

Inputs. Today's volatility smile and the contract's own smile history.

Output. A projected forward-skew curve. The projection model is proprietary and not shown.

How to read it. Where the projected smile sits above or below today's smile at a given delta pillar suggests that pillar has tended to richen or cheapen from a similar starting shape. It is a historical-analogue read, not a guarantee of where the smile moves next.

Call/Put Skew

Out-of-the-money call and put implied volatility plotted separately against at-the-money, plus a risk-reversal series (the call wing minus the put wing). Selectable 10 or 25-delta pillar and 30, 60, or 90-day tenor.

How to read it. Shows whether calls or puts are carrying the richness at a chosen wing, and whether the risk reversal (call wing minus put wing) is widening or narrowing over time.

Volatility Forecast

Forward-looking estimates of implied volatility, realized volatility, and variance risk premium at 10, 30, and 60 days ahead, with a probability-of-increase read alongside each.

Inputs. The contract's own implied and realized volatility history.

Output. A volatility forecast with a modeled uncertainty range: a point forecast for IV, RV, and VRP at each horizon, a 10th-to-90th percentile confidence band around each, and the probability that the metric is higher than today. The forecasting model is proprietary and not shown.

How to read it. Read the point forecast alongside its band width: a narrow band is a higher-confidence read, a wide band says the historical relationship has been noisy. The probability-of-increase figure is a plain percentage, not a directional price call.

Forward Factor Term Structure

The implied volatility for the window between two tenors, isolated from the two tenors' own implied volatilities.

vol_fwd = sqrt((IV_back² × T_back - IV_front² × T_front) / (T_back - T_front))

How to read it. Shown for four selectable tenor pairs (30-60, 60-90, 30-90, and 90-180 day). A front-month IV well above the forward vol it implies is the condition the Forward Factor calculator is built to size a calendar spread against.

Forward Factor Tracker

The same forward-volatility factor as Forward Factor Term Structure, plotted as a time series for a chosen tenor pair rather than a single current reading.

How to read it. Shows whether the current forward-factor reading is a typical level for this contract or an unusual one against its own recent history.

Fundamentals

A reference tab: contract specifications and a news feed, not computed indicators.

Market Overview

Contract reference data: the contract's name, category and exchange badges, current price, a short text description, and a specification grid.

How to read it. The spec grid lists exchange, contract multiplier (dollars per point), tick size, tick value, and contract unit, the fixed reference numbers needed to size and read a position in this contract.

News

The latest news items for the symbol: headline, source or author byline, and relative time since publication.

How to read it. A reference feed for context alongside the charts, not a computed metric in its own right.

Overview

Each contract's page opens on its Overview: a contract summary strip, a price chart with an indicator pane beneath it, the contract brief and latest news beside it, then the momentum ranking cards and two tape reads. The shared reads are documented once, under Cross-Asset; this section covers what is specific to futures.

Price chart and indicator pane

Price over a selectable period, with an optional 200-day moving average, and a lower pane that shows one indicator at a time. The pane defaults to the Regime; a selector switches it to the Momentum indicator, and a toggle hides it.

How to read it. The Regime for futures combines momentum, options skew, curve carry, and trader positioning (COT) together with open interest into one reading from -100 to +100; each market uses a fixed set of these inputs across its history. See Cross-Asset, Regime. Momentum is documented under Cross-Asset, Momentum Indicator.

The Momentum readings panel's ranking cards, the trend over the lookback, distance from the 52-week high, and rank in its universe, are documented in Cross-Asset, Ranking Metrics (relative and sector momentum are hidden for futures, since neither a benchmark nor a sector concept applies). Directional Intensity and Volatility Regime are documented in Cross-Asset, Supplementary Indicators.

Price Distribution

Two overlaid bell curves for where the contract's price may land: an Implied Distribution built from options pricing alone, and the platform's own distribution.

Inputs. Implied and realized volatility, and the momentum reading.

Output. Two probability distributions plotted together: the market-implied one, and the platform's own. How the inputs reshape the second distribution is proprietary and not shown.

How to read it. A gap between the two curves shows where the platform's view of current conditions differs from what options pricing alone implies. Treat it as context for structuring a position alongside your own view.

Dashboard and global

The Global page is the cross-sectional view: every contract in the selected basket plotted against the others on the same axes, rather than one contract read on its own. A basket selector narrows the board, and the charts cover performance, the Regime, positioning, sigma moves, and the volatility surface.

Futures Performance

Cumulative percent return of each contract in the basket over the selected window, rebased to zero at the start.

How to read it. A per-symbol legend toggle isolates or hides individual contracts, so a basket-wide move can be told apart from one or two contracts driving it.

Regime vs 1M Move

Every contract's Regime against its past month's move in implied sigmas, directly under the performance chart.

How to read it. Documented under Cross-Asset, Regime vs 1M Move.

Positioning Index

A proprietary index of how crowded each market is, built from trader positioning (COT) and scaled by open interest, shown as a bar per contract under the Regime chart. The same reading is the Positioning Index board on the homepage Futures tab.

Inputs. Trader positioning by CFTC category (COT) and open interest.

Output. One reading from 0 to 100 per market, placing it within its own history. It updates once a week, when new positioning data is published. How the inputs combine is proprietary and not shown.

How to read it. High readings mean positioning leans bullish and low readings bearish; 50 is the middle of the market's own range, and the ends of the scale are the extremes. It steps weekly while the charts beside it move daily, so a flat stretch is expected. Use it as a view of how crowded a market is, next to the Regime and your own read.

Momentum vs Positioning Index and Valuation vs Weekly Move

Two scatters, one contract per point. The first plots the momentum reading against the Positioning Index, the trend against how crowded the market is. The second plots Valuation, in standard deviations with -2 and +2 marked, against the past week's move measured against what options were pricing for the same window.

How to read it. The Positioning Index centre line is 50 rather than zero, since it runs 0 to 100. Positioning is weekly and the move legs are daily, so the two are joined by contract rather than read as one snapshot. The Strategy Map and the volatility-surface scatters (momentum against skew, IV against skew, term structure, and volatility risk premium against realized volatility) follow below.

Screener and lens

Futures Screener

The full contract list, grouped by the same categories as Global, with columns spanning positioning, valuation, seasonality, skew, momentum, and the Regime.

How to read it. Columns: Symbol, Price (with its one-week percent change), Commercial COT (with its one-week change), Large Speculator COT (with its one-week change), Small Speculator COT (with its one-week change), Valuation (with its one-week change), 30-Day Seasonal, 25-delta Skew, Skew Z-Score, Curve Z-Score (the Contango reading), Volatility Expansion, Momentum, and Regime (the Overview Regime, documented under Cross-Asset, Regime), and Phase, where the market sits in its Regime cycle: Divergence when the one-month price move and the one-month Regime change point opposite ways, Climax past +/-70, Initiation when the Regime turns from inside +/-50 on a volatility expansion of 1.7x, Trend when the Regime is past +/-10 and price is on the same side of its 50-day average, and Base otherwise. Four extreme-filter toggles (COT, Valuation, Seasonality, Skew) combine as a confluence filter rather than individually. A category multi-select narrows the list, including the crypto-futures contracts alongside the traditional categories.

Momentum Screener

A Bullish/Bearish momentum screen built on the same cross-sectional rank and momentum reading documented under Cross-Asset.

How to read it. Columns: Symbol, Price, trailing return at 1-week, 1-month, and 3-month horizons, Distance from 52-Week High, cross-sectional Rank, and the momentum reading. Bullish requires a rank of 7 or better out of 10 and a momentum reading in an uptrend; Bearish requires a rank of 3 or worse and a momentum reading in a downtrend. See Cross-Asset, Momentum Indicator for how to read the momentum reading.

Vol Lens

One row per contract, grouped and colored by category, each plotted on a shared z-score axis. Two groups of dots sit behind a selector, Regime (the default) and Volatility, and each series inside the active group can be toggled.

How to read it. Every dot places that metric against the contract's own history. The Regime group plots the Overall Regime, drawn as a larger ringed dot, with its components: Momentum, 25-delta Skew, Carry, COT (speculators), and OI strength, plus Valuation for context. Reading the Overall Regime next to its components shows which inputs are driving it (see Cross-Asset, Regime). The Volatility group plots VRP, 30-day IV, 20-day RV, and Steepness (the term-structure slope). Clicking a dot opens the contract's detail in a modal, or jumps straight to its page.

Cross-asset

Regime

The Regime is a single reading from -100 to +100 for every market the platform covers in equities, crypto, and futures. It brings trend and positioning together in one number, so each asset class can be read on the same scale. It is a summary of current conditions, meant to sit alongside your own discretionary view when you structure a trade.

Regime

A composite of the trend and positioning reads available for each asset class, blended into one score. Each asset class uses the inputs that matter for how its market is traded.

Inputs. Equities: momentum, momentum relative to the market, options skew, and dark pool activity. Futures: momentum, options skew, curve carry, and trader positioning (COT) together with open interest. Crypto: trend, funding, options skew where options are listed, and open interest.

Output. One score from -100 to +100 per market, updated daily. How the inputs are measured and combined is proprietary and not shown.

How to read it. The sign gives the direction the inputs lean together: positive when trend and positioning lean bullish, negative when they lean bearish, near zero when they are mixed or offsetting. The size says how strongly they line up. Past +/-70 the reading is at an extreme, which the Overview pane colours separately and the Regime vs 1M Move chart marks with a line. Use it as a comprehensive view of positioning and conditions in a market, then check the individual components in the Lens to see which inputs are doing the work.

Where to find it. The lower indicator pane of each symbol's Overview, where it is the default indicator; the Regime group of each Lens, with its components; the Regime vs 1M Move chart on the homepage Equities, Futures, and Crypto tabs and on each Global page.

Regime vs 1M move

Regime vs 1M Move

A scatter with one dot per market: the Regime on the horizontal axis and the past month's move, in sigmas, on the vertical axis.

1M move (sigma) = 1-month return / expected 1-month move

How to read it. Dashed lines at +/-70 on the Regime axis mark extreme readings, and dashed lines on the move axis mark 1 and 2 sigma months. The four quadrants name the state of each market: uptrend confirmed (positive Regime, positive move), pullback in uptrend (positive Regime, negative move), bounce in downtrend (negative Regime, positive move), and downtrend confirmed (negative Regime, negative move). Matching signs mean price is moving with the Regime; opposite signs are the markets moving against it. Hovering a dot shows its state, Regime, 1M move, and 1M return; clicking it opens that market's page. The expand icon opens the chart fullscreen. On the Global pages, and in fullscreen on the homepage, a stats line counts the markets plotted and the markets moving against their Regime.

Where to find it. Homepage: the Equities tab (the Stocks basket), the Futures tab, and the Crypto tab. Global pages: near the top of the futures and crypto pages, under the performance chart, and on the equities page on its own row under the Strategy Map, for every basket.

Momentum indicator

The TradingRiot Indicator is the platform's trend read on a market. It is one of the indicators in the lower pane of every symbol's Overview, the Momentum column on every screener, a component in the Regime group of each Lens, and it appears in the market quick-view modal.

TradingRiot Indicator

A single trend read that blends trend, breakout, and acceleration inputs.

Inputs. Trend, breakout, and acceleration reads on the market's own price.

Output. One score from -100 to +100. How the inputs are measured and blended is proprietary and not shown.

How to read it. The sign gives the direction of the trend and the size its strength. Near zero the market has no clear trend; the Overview pane colours elevated readings at either end separately, marking an extended trend. Screeners also carry a Mom Z column, which places today's reading against the market's own history. Read it together with the Regime, which adds positioning to the trend.

Ranking metrics

The Momentum readings panel on each symbol's Overview shows a set of ranking cards. These are plain rankings and returns, separate from the proprietary indicator above.

Trend over the lookback

The symbol trailing return over a selectable lookback (1M, 3M, or 6M).

How to read it. Positive is an uptrend over that window, negative a downtrend. It reads the symbol against its own history rather than against its peers.

Distance from 52-week high

The current price as a percentage of the trailing one-year high.

How to read it. 100 percent sits at a new high; a lower number shows how far below the high price has pulled back.

Rank in its universe

A 1 to 10 decile ranking the symbol against its peers by trailing return.

How to read it. Decile 10 is the strongest tenth of the group, decile 1 the weakest. See Core Concepts for the decile scale.

Relative strength

The symbol return measured against a benchmark, SPY for equities and BTC for crypto.

How to read it. Above 1 means the symbol outpaced its benchmark over the window, below 1 means it lagged. Hidden for futures.

Sector trend

The average trailing return of the symbol sector peers. Equities only, excluding ETFs.

How to read it. Shows whether the whole sector is moving, so a strong single name inside a weak sector can be told apart from a broad sector move.

Options volume / Relative volume

Current volume against its own 20-day average (options volume for equities).

How to read it. Above 1 means the current session is busier than normal, a possible sign of conviction behind a move.

Supplementary indicators

Two more series sit on each symbol's Overview, under the Momentum readings panel, describing how the recent tape has behaved.

Directional Intensity

A measure of how consistent and strong the price direction has been over a rolling window.

Inputs. Price direction and return behavior over a rolling window.

Output. -1 to +1. Near +1 is a strong, consistent uptrend; near -1 a consistent downtrend; near 0 is choppy, mean-reverting action.

How to read it. Output runs -1 to +1. Near +1 is a strong, consistent uptrend; near -1 a consistent downtrend; near 0 is choppy, mean-reverting price with no clear direction.

Volatility Regime

A read on whether volatility is expanding or contracting, comparing current short-term volatility against its own smoothed trend.

Inputs. Current short-term realized volatility versus its own smoothed trend.

Output. Positive means volatility is above trend (expanding); negative means below trend (contracting); zero crossings mark regime transitions.

How to read it. Positive means volatility is above its trend and expanding; negative means it is below trend and contracting; zero crossings mark the transitions between the two.

Relative value

Relative Value studies two instruments as a pair rather than on their own, looking for a spread that tends to revert. It opens on the pair analysis view; the pair screener surfaces candidates across stocks, ETFs, futures, and crypto.

Pair analysis

Charts of a single pair once both legs are chosen: the price and implied-volatility spread over time, rolling correlation, and scatter plots of the two legs IV, realized vol, and variance risk premium against each other.

How to read it. The comparison view shows the ratio of the two legs for a chosen metric (price, IV, or RV) with current, mean, and standard-deviation readouts and rolling correlation at 30 days and one year. A ratio distribution histogram marks where the current ratio sits in the pair's own history. Together they show whether the spread is stretched and how reliably it has reverted.

Pair statistics

A row of reversion and cointegration stats computed for the selected pair, shown separately for the price spread and the IV spread.

How to read it. Correlation measures how closely the two legs move together, from -1 to +1. The spread z-score is how far the spread sits from its mean in standard deviations (see Core Concepts); a reading of +/-2 or beyond is the actionable extreme, with a Long Spread or Short Spread badge marking which leg to buy and which to sell. Half-life is the average number of days the spread takes to close half the gap back to its mean; shorter is faster reversion. The Hurst exponent runs 0 to 1: below 0.5 the spread mean-reverts, 0.5 is a random walk, above 0.5 it trends. The ADF p-value is the chance the spread is not mean-reverting; a low value is evidence the pair is cointegrated.

Pair screener

A ranked table of candidate pairs across stocks, ETFs, futures, and crypto.

How to read it. Columns are Pair (both legs, each with an asset-class badge), Z-Score with a Price/IV toggle and a Long Spread or Short Spread badge, Half-Life, Hurst Exponent, Correlation, ADF p-value, and an Action link that opens the pair in analysis. A z-score at or below -2 flags a Long Spread (buy the first leg, sell the second); at or above +2 flags a Short Spread (the reverse). The default screen keeps only pairs that look genuinely mean-reverting, cointegrated (a low ADF p-value), a half-life of roughly 5 to 25 days, a Hurst below 0.4, and no strong drift, then shows those stretched to a |z-score| of 2 or more. An asset-class filter narrows to stocks, ETFs, futures, or crypto.

Tools

Position builder

A multi-leg options position builder over the stored option chain. Pick a symbol, start from a structure or add positions one at a time, and read the payoff, the P&L at any date, the Greeks, and under a collapsed Short Volatility header the implied vol of your fill, the hedge band and the realized vol scenarios, all on one page. Building is open to everyone on every symbol; saving into Portfolio needs a premium plan.

BTC and ETH load the Deribit chain instead of the equity one, one coin per contract rather than 100 shares. Those options are inverse and settle in coin: the builder values them in USD as options on each expiration's forward, which prices correctly now and pays correctly at expiry, and the realized USD result of holding one still differs, because the coin the premium is paid in moves too. They also expire at 08:00 UTC while the builder counts whole days, so the coin chain is pulled just after that settlement: an expiry stamped one day out is accurate to about a percent, and every listed expiry is offered.

Legs

One row per contract under the columns Side, Qty, Type, Expiry, Strike and Price: buy or sell, how many, call or put, expiry and strike from the chain, and the price. Price defaults to the chain's Mid for that contract and can be edited; the implied volatility of each leg is solved from its price, so price, IV and Greeks always agree. Prices are valued as of the last session close and off each expiration's implied forward, solved from the quote mids, so dividends and carry are in the marks.

How to read it. The eye icon takes a leg out of every calculation without deleting it. The Structure dropdown loads one of 18 presets at strikes that exist in the chain.

Readings

The strip above the chart, in this order: Underlying; the position Greeks Delta, Gamma, Theta, Vega and Rho at the slider date; then Max profit, Max loss, Breakeven and Prob. of profit at expiry; then the model bands and forecasts where the symbol has them.

How to read it. Prob. of profit is the share of terminal prices, under the lognormal at the legs' implied vol, where the position ends above zero. On a phone the Greeks and model cells sit behind More stats.

Chart

Three things at once: the payoff at expiration (filled), the P&L at the date on the slider (dotted), and one metric of your choice on the right axis (dashed). The same metric, P&L or a Greek, can be read as a chart at one date or as a table of prices against dates.

How to read it. Hover for the reading at any price. Drag to move the price window, double-click to reset, and use the fullscreen control for a bigger view. The price range is computed so every strike and a 2.5 sigma move are visible. The Table view is a heatmap of the same metric, prices down the rows and every date to the front expiry across the columns.

Implied vol sliders

Sliders that move the implied volatility used for the dated P&L line and the Greeks, grouped By expiry (one per expiration) or By leg (one per leg). The valuation date slider above them moves the dated line forward in time.

How to read it. With the link icon on, every slider moves by the same number of vol points; with it off, only the one you drag. The readout beside each slider is the IV in use and its shift from the market. Reset clears the shifts.

Implied vol of your fill

The implied volatility your fill corresponds to. Enter the net premium traded for the whole position, quantity included, positive for a credit received and negative for a debit paid.

find d such that sum(sign × qty × value(IV_leg + d)) = fill

How to read it. A fill below the theoretical on a credit structure reads as a negative shift: you sold at a lower vol than the market mark.

Realized vol scenarios

A distribution of outcomes if realized volatility comes in at the number you enter, priced off your fill. It sits last in the Short Volatility panel, after the hedge band.

Inputs. The legs, your fill, and an expected realized vol (prefilled with the platform's forecast for the symbol).

Output. 20,000 simulated terminal prices at the front expiry. The first row is the distribution, Worst, P25, P50, P75 and Best, each in $ and % of premium. The second row is Average P&L, P&L spread (one standard deviation), Profitable paths and Kelly size (average return over its variance).

How to read it. Average P&L and Kelly size summarize the edge at the entered fill and expected vol; the first row shows the range of outcomes around it. A negative average or a Kelly size near zero says the fill is not supported at that vol.

Hedge band

A no-trade band around the position delta, in shares, and the trade that brings delta back to zero when it is outside.

H0 = cost / (risk_aversion × S × sigma² × T)

H1 = 1.12 × cost^0.31 × T^0.05 × (e^(-rT) / sigma)^0.25 × (|position_gamma| / risk_aversion)^0.5

band = H0 + H1

How to read it. The readings are Position delta, the Band from low to high, and the Trade. Inside the band the Trade reads Hold, inside the band. Outside it, Buy or Sell with the share count that brings delta back to zero.

Chain

Every strike for one expiration with calls on the left and puts on the right: Bid, Mid, Ask, IV, Delta, Gamma, Theta, Vega and open interest.

How to read it. The chain carries the two-sided quote the vendor held at the session close, and Mid is its midpoint. A contract the vendor did not quote on both sides falls back to the vendor mark where there is one (Deribit marks every contract) and to a Mid rebuilt from the stored mid implied volatility where there is not; a leg says in its note which of the three it opened at. Legs price at that Mid. A strike the vendor quoted but could not imply a volatility from keeps its Bid, Mid and Ask and leaves the IV and the greeks blank, because those are the numbers nobody knows; the side is dropped only when there is neither a quote nor a volatility. A leg built off such a row still opens at the quote Mid and implies its own volatility from it. The vendor's own theoretical value is stored for the screeners and is not shown. The in-the-money side is tinted. Columns sort on click. The table shows about 40 strikes at a time, opened at spot, and scrolls to the rest. Hovering a row shows B and S beside each Mid; they add that contract to the position as a long or short leg at the Mid.

Strike selector

A premium strike screener that compares the option market's implied probability against the platform's own modeled probability, then ranks strikes by the resulting edge.

Direction, expiration, and mode

The controls that scope a scan: Direction (Bullish or Bearish, the only choice of which way the trade is betting), an Expiration to scan, and Mode (Single, a naked option, or Spread, which adds a short strike on the same side to cap risk and cost).

How to read it. A Scan All DTEs button runs every available expiration at once and lists each one's top strike: the best-rated strike, or the highest-edge good strike when none rates best. It then opens the expiration with the highest Kelly percent among best-rated picks, or the highest edge among good picks when nothing rates best.

Expected Value (EV)

The average payoff of a strike, weighting the in-the-money outcome by its probability.

EV = P(ITM) × avg payoff

How to read it. Higher EV means a larger expected payoff per trade. It says nothing on its own about how much capital or risk that payoff requires, which is what Odds and Kelly percent add. Shown per strike in the strike table.

Odds

The ratio of potential profit to potential risk on a strike.

odds = potential profit / potential risk

How to read it. Odds of 2:1 means the potential profit is twice the amount put at risk. This is the winning case: what the option is worth at expiry given it finishes in the money, against the premium paid. It is not weighted by the chance of getting there, which is what Win percent and Kelly percent carry. Because it is unweighted it tracks how far out of the money a strike sits, so it describes the payoff rather than deciding the rating.

Kelly percent

The Kelly criterion, sized from a strike's probability and payoff, expressed as a percent of capital.

f* = (b × p - q) / b

How to read it. Full Kelly is rarely used as-is; the platform treats roughly 5 to 40 percent as the practical range, and a strike is only eligible for the top rating inside it. Above 40 percent usually means the model is over-confident rather than the setup being exceptional, so it is treated as caution. Shown per strike alongside a plain-language sizing note.

TradingRiot Distribution

The platform's own model of where the underlying is likely to land, shown next to the market-implied distribution built directly from option prices.

Inputs. 30-day implied volatility (ex-earnings when a print falls inside the expiration), 20-day realized volatility, the 25-delta skew z-score, the post-earnings drift signal, and the symbol's momentum read, all read off the symbol's screener row.

Output. A shifted, reshaped probability distribution: a mean (TR Mean) and a 1-sigma range, narrower than the market-implied distribution when volatility risk premium is high, and shifted off center by the skew, post-earnings drift and momentum reads. How the inputs are blended and weighted is not shown.

How to read it. The Distribution Info card shows the plain inputs behind it, price, 30-day IV, 20-day RV, and momentum, next to the resulting TR Mean and 1-sigma range, so the model's read can be compared directly against the raw data it was built from. Use it as one input alongside your own view of the underlying.

TR Prob and Prob Edge

TR Prob is the TradingRiot Distribution's own probability that a strike finishes in the money. Delta is the option market's implied probability of the same outcome.

Prob Edge = TR Prob - Delta

How to read it. Prob Edge feeds directly into EV, Odds, and Kelly percent for that strike: a strike the market has mispriced relative to the model shows up as edge across all three.

Strike table

Every strike near the money by default (a toggle expands to the full chain), one row per strike.

How to read it. Columns are Strike (starred if it is the top-rated strike in the chain, badged ATM at the money), Mid (the bid/ask midpoint), Delta (the market's implied probability of finishing in the money), IV (that strike's implied volatility), TR Prob (the model's probability of finishing in the money), Prob Edge (TR Prob minus Delta), EV, Odds, Kelly %, and Rating.

Rating

A four-tier label summarizing whether a strike's edge is worth acting on.

How to read it. Best: Kelly percent between 5 and 40 percent, and a modeled edge good enough that the option is expected to more than double on average. Good: positive Kelly percent outside that range. Marginal and No-edge follow, in descending order of edge. If nothing in the chain clears a positive rating, the tool shows a no-edge message instead of a recommendation. The model behind TR Prob and the ranking itself stay hidden; only the inputs and the resulting columns are shown.

Relative value

The Relative Value entry under Tools opens the same pair-analysis and pair-screener pages documented under Cross-Asset, Relative Value; see that section for the pair statistics, charts, and screener columns.

Earnings calendar

Calendar view

A horizontally scrolling row of the next 7 days that have at least one earnings report, out of a 14-day lookahead, each day split into Before Open, After Close, and Time TBD.

How to read it. Each day column lists up to 16 names, ranked by market cap, showing symbol, price, and company name. A "+N more" link on a day jumps to the List view. An Include unconfirmed dates checkbox toggles unconfirmed dates on or off.

List view

A sortable, paginated table (50 rows per page) of the same upcoming earnings.

How to read it. Columns are Ticker (logo, symbol, company name, an Est. badge on unconfirmed dates), Date (a before-open, after-close, or unknown-time icon, plus days to earnings), Implied now, Implied / realized (the ratio of the current implied move to the historical realized move), Hist. realized move (the average move around past reports), Hist. implied move, Avg straddle return (colored by sign), and Total straddle return (colored by sign, cumulative).

Watchlist and portfolio

Watchlist

Starred symbols saved from any screener or analysis page across the platform, kept in the browser rather than tied to precomputed data.

How to read it. Grouped by the page a symbol was starred from (Crypto, Futures, several equity screeners, and the Momentum dashboards). Each entry links back to its source page and can be removed inline.

Portfolio: positions

A manual log of the user's own trades in crypto, futures, and options, entered and tracked by hand. This only reflects what a user records; it is unrelated to any automated performance tracked elsewhere on the platform.

How to read it. Open Positions and Closed tabs share Asset (All, Crypto, Futures, Options) and Strategy filters. Multi-leg option structures group under a collapsible header. Open Positions shows Symbol (with strike, type, and expiry for options), Type, Side, Qty, Entry, Entry Date, and row actions to close, edit, or delete. Closed adds Exit, P&L in dollars and percent, and Exit Date, plus a CSV export of the full trade record including commissions and notes.

Portfolio: performance

A summary tab built entirely from the trades logged under Positions: cash transactions, P&L totals, standard trading-performance metrics, an equity curve, and a P&L calendar.

How to read it. Deposit and Withdraw buttons record cash movements against the tracked balance; an eye toggle masks all dollar figures. P&L summary cards show Total, Today's, Monthly, and Yearly P&L. A metrics grid shows Account Balance, Win Rate, Avg Win, Avg Loss, Expectancy, Profit Factor, Max Drawdown, Sharpe Ratio, and Win/Loss Ratio, all standard trading statistics computed from the logged trades. The Equity Curve is a cumulative P&L chart over time; the P&L Calendar is a month grid shaded by that day's realized P&L, with a monthly total and a per-day tooltip.

Calculators

Five standalone calculators, each on its own page. All are textbook models: the formula shown is exactly what the calculator computes.

Position Size

Sizes a position so a single trade's risk lines up with a target percent of capital. Two modes: Basic sizes a single directional position in equities, crypto, or futures; Put Spread sizes a defined-risk options structure.

Basic mode

stop_distance = |price - stop|

stop_distance = stop_x × (blended_vol / 100 / 16) × price

position = (capital × risk%) / (stop_distance × multiplier)

Put Spread mode

contracts = floor((equity × risk%) / ((width - credit) × 100))

notional = (capital × per_trade_vol) / (net_delta × IV)

contracts = floor(notional / (price × 100))

How to read it.

Basic mode outputs the position size (shares, coins, or contracts), notional exposure, percent of portfolio (or, for futures, the position size expressed as a multiple of account equity), stop price, stop distance in dollars and percent, and expected loss in dollars and as a percent of capital. If a futures position rounds down to zero contracts, it instead shows the ideal fractional size and the minimum capital needed for one contract.

The Volatility stop type always labels its two inputs "20-Day RV" and "252-Day RV," but what actually fills them depends on asset class: equities use true 20-day and 252-day realized vol, crypto uses 30-day and 180-day, and futures uses 20-day and 60-day. The labels stay fixed even though the lookback windows behind them change.

Put Spread mode outputs contracts, total credit, and max loss in dollars and as a percent of equity. The Vol Target method also shows a "magic number," a shortcut such that contracts = magic number / (IV% x price), plus the per-trade volatility budget it is sizing to.

Forward Factor

Compares the volatility priced into a near-term option expiration against the volatility implied for the window between that expiration and a later one, the forward volatility. Also prices the optimal debit for a calendar spread built from the two expirations.

vol_fwd = sqrt((IV_back² × T_back - IV_front² × T_front) / (T_back - T_front))

FF = (IV_front / vol_fwd - 1) × 100%

How to read it. Inputs are the front and back month IV and expiration dates, the spot and strike, risk-free rate, dividend yield, and option type; a ticker search can auto-fill IV and price from the option chain. Output is the Forward Factor, the front and back option prices and days to expiry, the optimal debit for buying the calendar, and the forward vol itself. A positive Forward Factor means the front-month option is pricing in more volatility than the market expects to realize between the two expirations, the condition a calendar spread is built to take advantage of. The Try another debit panel slides the debit between 25 and 300 percent of the optimal one and shows the Forward Factor that debit implies. The scanner below it ranks every expiry pair for a ticker, filtered by option type (Calls, Puts, or Calls and puts), Back/front days, max (3 to 1 by default) and Front days, min, with a Strip earnings from IV switch. Its columns are Pair, FF, Fwd IV, Front IV, Back IV and Type.

Correlation Matrix

Pairwise correlation of daily returns across 2 to 10 symbols within a single asset class, over a chosen lookback window.

r = (n × sum_xy - sum_x × sum_y) / sqrt((n × sum_x2 - sum_x²) × (n × sum_y2 - sum_y²))

How to read it. Inputs are an asset class (equities, crypto, or futures, one class per run), 2 to 10 ticker symbols, and a lookback of 7, 30, 90, or 365 days. Output is an N by N matrix of correlation coefficients, one row and column per symbol, each cell from -1 to 1 with the diagonal always 1, shown to 3 decimal places and color-coded by the magnitude of the correlation, plus the resolved date range and the number of days actually returned. Close to +1 means the two symbols moved together over the window, close to -1 means they moved opposite, and close to 0 means little relationship, useful for checking how independent two positions really are before combining them.

Black-Scholes

The standard option-pricing model. Given the underlying price, strike, time to expiry, volatility, dividend yield, and risk-free rate, it returns a theoretical option price and the Greeks that describe how that price moves.

C = S × e^(-qT) × N(d1) - K × e^(-rT) × N(d2)

P = K × e^(-rT) × N(-d2) - S × e^(-qT) × N(-d1)

d1 = (ln(S / K) + (r - q + 0.5 × sigma²) × T) / (sigma × sqrt(T))

d2 = d1 - sigma × sqrt(T)

How to read it. A ticker search can fill the spot, implied vol and a listed expiration from the latest chain, and every field can also be typed by hand (Spot, Strike, Implied vol, Dividend yield, Risk-free rate); option type is Call or Put. Alongside the price, the calculator breaks it into Intrinsic Value and Time Value, and derives Delta, Gamma, Theta (per day), Vega (per 1 percent move in volatility), Rho (per 1 percent move in rates), and Probability ITM, all from the same d1 and d2 above.

Delta Hedge

The no-trade band around the delta of an option position you already hold, from Zakamouline. Inside the band, hedging costs more than the risk it removes. Outside it, the trade goes back to zero delta. Enter the legs by hand, or pick a symbol to prefill the spot, the rate and each leg's strike, expiry and implied vol from the last chain snapshot.

H0 = lambda / (gamma_risk × S × sigma² × T)

H1 = 1.12 × lambda⁰.31 × T⁰.05 × (e^(-rT) / sigma)⁰.25 × sqrt(|Gamma| / gamma_risk)

band = H0 + H1

How to read it. The readings are Position delta, the Band from low to high, and the Trade. A Position delta inside the band reads Hold, inside the band. Outside it, the Trade names the side and the size, and that size is the WHOLE delta rather than the distance to the nearest edge: hedging here is once a day, and stopping at the edge parks the delta on the boundary where the next session re-breaches it about half the time. Measured over 9,357 short straddles hedged at the close, flattening the Zakamouline band rebalanced 3.34 times against 5.50, returned a mean of +0.92 percent against +0.69, and had a worst case of -78.9 percent against -87.8. The band is solved at a fixed transaction cost of 0.05 percent and a risk aversion of 0.05, neither editable: the readings only mean something against a stated cost. Every input stays editable after a prefill, because the chain snapshot behind it is end of day.

Data sources and timing

A short reference for how current the platform's data is and where each asset class's numbers come from, so a reading can be weighed against how fresh it actually is.

Data refresh

All data on the platform refreshes once a day, after the US market close.

How to read it. Precomputed metrics, z-scores, screener results, and the curated picks shown on the daily outlook, are computed after that day's raw data has landed, so they update shortly after the raw tables do. Nothing on the platform is real-time; every chart and screener reflects the prior close.

Crypto data

Perpetual futures data, open interest, funding, and liquidations, is aggregated across major exchanges rather than read off a single venue.

How to read it. A perpetual has to clear a minimum dollar open-interest threshold before it is tracked at all, so the crypto universe reflects liquid, actively-traded contracts rather than every token that exists. Options data is tracked for BTC and ETH only, the two assets with a liquid, continuously-quoted options market.

Equity options data

End-of-day options data covers more than 900 stocks and ETFs: implied volatility term structure, the Greeks, skew, and a full history of simulated straddle backtests.

How to read it. Underlying prices are split-adjusted, so a stock split shows up as a continuous price series rather than a sudden drop.

Futures data

Futures positioning comes from the weekly Commitment of Traders report, published once a week rather than daily.

How to read it. Every COT-based read on the platform moves on that same weekly cadence, even though the page itself can be checked daily; a chart that looks unchanged day to day is often just waiting on the next weekly report rather than stale. Price history is the daily continuous front-month contract for each root, with more than 10 years behind the seasonality charts.

Macro data

The VIX family of indices, credit spreads, market breadth, and benchmark index prices are drawn from standard market data feeds.

How to read it. These feed the SPX dashboard and the price-trend, credit, and breadth reads used across the Cross-Asset section.