TRADINGRIOT
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 Daily Outlook, Equities, Crypto, Futures, Cross-Asset, Tools, Calculators, and Data Sources.

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.

EMAt = alpha × valuet + (1 - alpha) × EMAt-1
How to read it. A longer period is smoother but slower. Regime and z-score charts show an EMA overlay to mark the trend of the signal.
Annualization

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

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

Home

The home page is a strategy playbook: one card for each core strategy, grouped into four themes. Every card lists the names that qualify today, a headline metric, a link to the matching lesson, and a "Show more" link into the full screener behind it. It has no formulas of its own; each card surfaces a read or list that is built and documented elsewhere in this guide. Account actions sit inline at the top right.

Premium selling

Variance Risk Premium

Liquid ETFs with the richest variance risk premium, the core premium-selling idea of selling implied volatility that sits above realized movement.

How to read it. The featured name has the richest VRP; the rail lists the rest. Each shows IV versus RV, the VRP, and option volume, richest first. Links to the VRP lesson and the volatility screener. VRP itself is defined in Core Concepts.

Earnings

Earnings

Upcoming earnings ordered by date, for selling the overnight implied move through the report.

How to read it. Each row shows the implied move, the average historical move, average option volume, and whether the report lands before or after the session. Links to the earnings lesson and screener.
Pre-Earnings

Names heading into a report with an implied-volatility expansion signal, for buying the vol ramp before earnings.

How to read it. Shows the signal strength, average option volume, and days until the report, strongest signal first. Links to the pre-earnings screener.
PEAD

Recent earnings surprises that are still drifting, for trading the post-earnings drift.

How to read it. The featured name has the highest drift score; shows the PEAD score and option volume. Links to the PEAD screener.

Term structure

Forward Factor

Names where near-term implied volatility is rich relative to forward volatility, the long-calendar setup.

How to read it. Shows the highest forward factor across the tenor pairs (20/30, 30/60, 60/90, 90/180), option volume, and which tenor it came from. Links to the forward-vol lesson and the forward-factor screener. The forward-factor formula is in the Equities section.

Momentum and direction

Equities

Directional out-of-the-money option candidates from the convexity screener, the names with a skewed implied distribution.

How to read it. Split into two sides, Calls and Puts. Links to the convexity screener.
Futures

Directional long and short candidates on liquid futures, ranked by the regime composite.

How to read it. Two sides: the three highest and three lowest by regime, with each contract's regime score. Highest is the strongest risk-on read, lowest the strongest risk-off. Links to the futures screener. Regime is documented in the Cross-Asset section.
Crypto

The same directional read for liquid perpetuals, limited to names above a set open-interest minimum.

How to read it. The three highest and three lowest by regime, with each name's regime score and open interest. Links to the crypto screener.

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

The regime composite built specifically for the broad market, leading the page as price with the composite plotted as a histogram beneath it.

Inputs. Breadth, VIX term structure, and credit spreads. Price trend is deliberately left out of this one composite, unlike every other regime read on the platform.
Output. One composite from -100 to +100, plotted with a percentile against its own history. How the three inputs combine into the composite is proprietary and not shown.
How to read it. See Cross-Asset, Regime Indicator for how to read the composite scale and percentile in general. On this chart the price panel also carries a background tint marking bear-regime stretches, plus signal markers for Major Swing Low, Breadth Thrust, VIX Term-Structure Buy, Major Top, Swing High, and VIX Term-Structure Sell.
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.
Credit Regime

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

spread = OASHY - OASIG
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.

ADt = ADt-1 + (advancerst - declinerst)
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 as a signal band.

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.
IV/RV Percentile vs VRP

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)

The gap between what options are pricing and what the stock has actually realized.

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). Read alongside its own z-score and percentile for context.
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.
VRP vs Forward Return

A scatter of past VRP readings against the return that actually followed, at a selectable horizon, with a regression line.

How to read it. Shows whether a rich or cheap VRP reading has historically preceded an up move or a down move, and how strong that relationship has been.
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.
Term Structure Slope

The implied vol spread between two tenors.

slope = IVback - IVfront
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 = IVcall - IVput
How to read it. See Core Concepts for the z-score scale.
Skew Z-Score vs Forward Return

A scatter of past skew z-score readings against the return that followed, with a regression line.

How to read it. Same construction as the other signal-vs-return scatters on this page: shows whether an extreme skew reading has historically led price, and in which direction.
Skew Structure

Call implied vol minus put implied vol plotted across tenors, the shape of the smile.

How to read it. Shows which tenors are carrying the richest call-versus-put pricing, rather than a single point-in-time number.
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 flags the smile as unusually stretched; the projection line on its own is not the signal.
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 = shortvolume / totalvolume
How to read it. The platform's convention treats a high ratio as bullish: heavy short-marked off-exchange volume most often reflects market-makers shorting to fill incoming buy orders, rather than directional bearish positioning.
SVR Z-Score vs Forward Return

A scatter of past short-volume-ratio z-score readings against the return that followed.

How to read it. Same construction as the other signal-vs-return scatters on this page.
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 Factors

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

FF = (IVfront / volfwd - 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.
FF vs Forward Return

A scatter of past forward factor readings against the return that followed.

How to read it. Same construction as the other signal-vs-return scatters on this page.

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, average historical move, average implied move, the ratio of implied to average move, and total straddle return.

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.
Pre-Earnings Build-up

A signal on whether the market is pricing this earnings event as bigger (Expansion) or smaller (Contraction) than the pattern in the stock's own history would suggest.

Inputs. The current implied move, the last implied move, the last realized move, the historical average implied move, and the historical average realized move.
Output. A score from -5 to +5, labeled Expansion or Contraction. The model combining the five inputs is proprietary and not shown.
How to read it. The same score drives the Signal column on the Pre-Earnings screener.
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.

Regime Tab

Each symbol's Regime tab applies the platform's shared cross-asset reads to that one symbol. The composite, the momentum indicator, the ranking metrics, and the two supplementary series are all documented once, under Cross-Asset, since the construction is shared across equities, crypto, and futures. This page notes what appears here and links out to each.

Regime

The per-symbol regime composite, plotted with price above and the composite histogram below.

How to read it. See Cross-Asset, Regime Indicator for the equity inputs (price trend, options skew, dark-pool short volume, and cross-sectional momentum), the scale, and how to read it.
Momentum Metrics

A panel of ranking cards: cross-sectional momentum, time-series momentum, relative momentum, sector momentum, relative volume, and proximity to the 52-week high.

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

The momentum ensemble gauge, shown at the top of this tab as a stats-bar value and again further down as a full gauge.

How to read it. Documented under Cross-Asset, Momentum Indicator. This is the older of the platform's two momentum reads; the Regime composite above is the current headline read, and the cross-sectional momentum decile inside Momentum Metrics is the ranking that also feeds it.
Directional Intensity and Volatility Regime

Two supplementary series shown side by side, each paired with a scatter against forward return.

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

Screeners

Most screeners share a base column set: Symbol, Sector (where relevant), Price, IV 30-day with percentile, RV 20-day with percentile, Term Structure Slope, 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 reads above +10. Negative is the mirror: deciles of 3 or lower and the indicator below -10. 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 a confluence of signals agreeing.

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, Reg Δ1W and Reg Δ1M (1-week and 1-month change in the regime composite), Regime Z, Regime, and Phase. The last five, the regime changes, regime z-score and value, and the trend-phase label, are a proprietary classifier shared across every equity screener below; the phase label itself is not disclosed beyond its name.
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, Reg Δ1W, Reg Δ1M, Regime Z, Regime, and Phase.
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, Reg Δ1W, Reg Δ1M, Regime Z, Regime, and Phase.
Directional Screener

A single sortable list, no bullish/bearish split, defaulting to a sort by the regime composite. A Stocks/ETFs toggle, Skew and Dark Pool extreme-value filters, trend-phase filter chips, 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 feeding the phase classifier), VRP, Skew Z, DP Z, MOM, 1W, 1M, 3M (trailing returns), Reg Δ1W, Reg Δ1M, Regime Z, Regime, and Phase.
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

Buy-straddle Expansion candidates: earnings due in 7 to 21 days, ranked by the same Pre-Earnings Build-up score documented under Earnings Analytics, kept at a Signal of 2.5 or higher. The score compares the current implied move to the last implied move, the last realized move, and the historical average implied and realized moves; a current implied move running low against that history scores higher. The weights behind the score are proprietary and not shown.

How to read it. Base columns including the forecast columns, plus Earnings (date/time), Signal, Impl Move, Last Impl, Last Real, Avg Impl, and Avg Real.
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.
Convexity Screener

A two-column Calls/Puts strike selector. It only surfaces markets already sitting in an actionable phase, initiation or trend continuation for a move already underway, climax or divergence for a fade, paired with the single best-priced 15 to 35 delta out-of-the-money option for that direction inside a 10 to 65 day expiration window. Selection is gated server-side on phase, on the regime still building rather than unwinding, on the past week not having run hard against that phase, on a cheapness threshold, and on a positive modeled edge, before the page's own Stocks/ETFs toggle and minimum-volume slider are applied.

How to read it. Columns: Symbol/Price, Phase, Strike, DTE, Mid, Win %, and Kelly %. The board is rescanned daily and only the top decile by modeled edge is shown, most underpriced first, so the list stays short and turns over as setups do rather than accumulating names that qualified weeks ago. A conviction floor sits under the ranking, the model expecting the option to more than double on average, so a day with nothing cheap shows a short list instead of filling the slots. The phase classifier and the pricing model behind Win % and Kelly % are proprietary; only the columns themselves are shown.

Volatility Lens

One horizontal scatter row per symbol, grouped and colored by sector for stocks or by category for ETFs.

Volatility group

A radio toggle across 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.
Regime group

A radio toggle across four series: Regime, Skew, Dark Pool, and Momentum.

How to read it. Skew (25-delta skew z-score) and Dark Pool (short-volume-ratio z-score) are both documented under Options Analytics. Regime is plotted as the composite scaled down so it shares the same axis as the z-score series, though the tooltip shows the real -100 to +100 composite value; see Cross-Asset, Regime Indicator. Momentum is the z-score of the same indicator documented under Cross-Asset, Momentum Indicator.
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 Volatility (or Analysis) tab.

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.

Crypto

Perpetuals Analysis

The Analysis tab for a crypto perpetual opens with a stats bar of the core numbers, then a set of charts covering open interest, funding, liquidations, and order-book depth. Most pair a plain series with a rolling z-score and a scatter against forward return.

Top stats bar

The header row at the top of a symbol's page: current price, open interest, and 24-hour trading volume, each shown with its 24-hour change.

How to read it. A quick read on size and activity before opening the charts below. The same three figures also render standalone as a compact header while the rest of the page streams in.
Open Interest

The total dollar value of open perpetual futures positions across major exchanges, plotted as a plain time series with a brush to zoom into a date range.

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.

fundingannualized = fundingrate × 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.

liquidationsdelta = longliquidations - shortliquidations
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.
Open Interest Z-Score vs Forward Return

A scatter of historical open-interest z-score (30-day lookback, on log open interest) against the return that followed, at a selectable 10, 30, or 60-day horizon.

How to read it. A regression line and R-squared summarize the historical relationship, a binned average groups readings, and the current reading is highlighted. It describes a past relationship, not a forecast.
Funding Z-Score vs Forward Return

The same construction as Open Interest Z-Score vs Forward Return above, with the funding-rate z-score (30-day lookback) on the x-axis.

How to read it. Same regression line, R-squared, binned average, and horizon selector.
Liquidations Z-Score vs Forward Return

The same construction, with the liquidation z-score on the x-axis.

How to read it. Same regression line, R-squared, binned average, and horizon selector.
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.

depthdelta = biddepth10pct - askdepth10pct
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 rolling z-score construction as Open Interest Z-Score above, applied to the order-book depth delta, with the last 30 days shown.

How to read it. Same +/-2 reference lines as the other z-scores on this tab.
Order Book Z-Score vs Forward Return

The same forward-return scatter construction as above, with the order-book depth z-score on the x-axis.

How to read it. Same regression line, R-squared, binned average, and horizon selector.

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.
IV/RV Percentile vs VRP

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)

The gap between 30-day implied volatility and 14-day realized volatility for the option-tracked crypto assets, shown as a bar chart.

VRP = IV30d - RV14d
How to read it. Same reading as the platform-wide VRP defined in Core Concepts, with a shorter 14-day realized-volatility window here. Positive means options are pricing more movement than has actually occurred; the current value and its percentile are both shown.
VRP vs Forward Return

The same forward-return scatter construction described under Perpetuals Analysis above, with VRP (30-day IV minus 14-day RV) on the x-axis.

How to read it. Regression line, R-squared, binned average, and a 10, 30, or 60-day horizon selector.
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.
Term Structure Slope

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

slope = IVlongtenor - IVshorttenor
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.

skew25d = IVcall25d - IVput25d
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.
25-Delta Skew vs Forward Return

The same forward-return scatter construction as above, with the 25-delta skew on the x-axis.

How to read it. Regression line, R-squared, binned average, and horizon selector.
Forward Factors

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).

forwardvar = (IVback2 × Tback - IVfront2 × Tfront) / (Tback - Tfront)
forwardvol = sqrt(forwardvar)
forwardfactor = (IVfront / forwardvol - 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.

Regime Tab

The Regime tab shows the platform's cross-asset regime and momentum reads for a crypto perpetual. Their construction is documented once, centrally, under Cross-Asset; this section points to that documentation and covers the handful of surfaces that are specific to crypto.

The stats bar at the top of the tab shows a Momentum value and a Regime label alongside price. Both come from the momentum indicator documented under Cross-Asset, Momentum Indicator, not from the regime composite below; the same indicator appears again further down the tab as a labeled bar. The chart headed Regime, further down, is the composite documented under Cross-Asset, Regime Indicator. For crypto it combines price trend, perpetual funding, momentum, basis carry, 25-delta skew, and order-book depth into one -100 to +100 read, plotted with price and a percentile.

A metrics panel between the stats bar and the regime chart shows a set of 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, plus a strip of the regime composite's own component bars. Two more series sit below the regime chart, Directional Intensity and Volatility Regime, each paired with a forward-return scatter, documented under Cross-Asset, Supplementary Indicators.

Volatility Skew (signal)

A bearish, neutral, or bullish sentiment read for BTC and ETH, built from a 252-day z-score of the 25-delta skew documented under Options (BTC/ETH) above.

How to read it. A z-score above 1 reads bearish, below -1 reads bullish, scaled to a 0-100 percent readout in between. Shown only for BTC and ETH; other crypto symbols show a message instead, since they have no tracked options market.
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 regime reading for the asset.
Output. A second probability curve, shifted from the market-implied one by the regime reading and blended from implied and realized volatility. How the blend and shift are built is not shown.
How to read it. Compares where the market's own option pricing expects the asset to land against the platform's shifted read; a wide gap between the two curves marks disagreement between market pricing and the platform's own view.

Dashboard & 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.
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.

riskappetite = 1 - btcoidominance
How to read it. Rising means capital is rotating from BTC into altcoins, a typically risk-on signal; falling means the opposite, capital consolidating into BTC.
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 & 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 and limited to symbols with at least 50 million dollars of open interest.

How to read it. Each row plots up to six toggleable series rather than fixed columns: open interest (z-score), funding (z-score), liquidations (z-score), regime (the composite from Cross-Asset, Regime Indicator, scaled down to sit on the same axis as the z-scores), momentum (a z-score of the momentum indicator from Cross-Asset, Momentum Indicator), and depth (order-book z-score). Symbols are labeled by an open-interest tier (mega, large, mid, small) along the y-axis. Clicking a dot opens a modal with that symbol's full Analysis tab, or links through to its page.
Crypto Screener

A sortable table of every tracked perpetual, with a slider to filter by minimum open interest from 10 million to over 100 million dollars.

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, Volume expansion, 1-day/1-week/1-month realized-volume change, order-book depth, order-book skew z-score, 1-week/1-month/3-month/6-month/1-year returns, 1-week and 1-month regime change, Regime, and Phase. Toggle filters surface only symbols with an open-interest, funding, liquidations, or order-book z-score beyond +/-2. Phase is a labeled classification of where a symbol sits in a regime-led cycle; Regime and its changes are the composite from Cross-Asset, Regime Indicator. 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 above +10; Bearish requires a rank of 3 or lower and a reading below -10, both thresholds disclosed in an info popover on the page. 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 Momentum tab.

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 two 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 currencies and 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

A rolling z-score of the futures curve's near-to-far slope against its own history.

contangoz = (slope - mean(slope)) / stdev(slope)
How to read it. Positive means the curve is in contango relative to its own history, negative means backwardation. 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.
IV/RV Percentile vs VRP

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

The gap between what the contract's options imply and what it actually realized.

VRP = IV - RV
How to read it. Shown as a bar chart with the current value and its own percentile. Positive means options are pricing more movement than the contract has realized; negative means options are pricing less.
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.
Term Structure Slope

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

slope = IVtenorb - IVtenora
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.

skewz = (skew25d - mean(skew25d)) / stdev(skew25d)
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.
Skew Z vs Forward Return

A scatter of past 25-delta skew z-score readings against the return that actually followed, at a selectable 10, 30, or 60-day horizon.

How to read it. A regression line and its R-squared, plus binned averages, summarize how reliably a given skew reading has led to a given forward return historically. Describes a past relationship, not a forecast.
Skew Structure

The shape of the volatility smile: call implied volatility minus put implied volatility, plotted across five delta pillars, 10-delta put, 25-delta put, at-the-money, 25-delta call, and 10-delta call.

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 Factors

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

volfwd = sqrt((IVback2 × Tback - IVfront2 × Tfront) / (Tback - Tfront))
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 Factors, 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 metric or a signal in its own right.

Regime Tab

The per-contract Momentum tab shares its regime and momentum machinery with equities, crypto, and SPX. Rather than repeat that documentation here, this section links to it and covers only what is specific to futures.

The regime composite, headlined at the top of the tab and repeated as a static gauge further down, is documented in Cross-Asset, Regime Indicator. For futures its inputs are price trend, options skew, curve carry (backwardation reads bullish), large-speculator COT positioning, and cross-sectional momentum, each shown as its own +/-100 bar alongside the composite; how they combine is not shown. The momentum reading shown in the same stats bar is documented in Cross-Asset, Momentum Indicator. The Momentum Metrics panel's ranking cards, cross-sectional momentum, time-series momentum, and proximity to a 52-week high, 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, and their scatters against forward return, are documented in Cross-Asset, Supplementary Indicators.

Volatility Skew Signal

A plain sentiment read on the contract's options skew, banded to Bearish, Neutral, or Bullish.

How to read it. High put skew reads Bearish, high call skew reads Bullish, and a balanced smile reads Neutral. A simplified banding of the same skew read documented under Options above.
Price Distribution

Two overlaid bell curves for where the contract's price may land: an Implied Distribution built from options pricing alone, and a second distribution shifted and reshaped by the regime composite.

Inputs. Implied and realized volatility, and the regime composite reading.
Output. Two probability distributions plotted together: the market-implied one, and a regime-adjusted one shifted off center or narrowed/widened relative to it. How the regime reading reshapes the second distribution is proprietary and not shown.
How to read it. Where the regime-adjusted curve sits noticeably off the implied one shows the platform's own view diverging from what options pricing alone would suggest.

Dashboard & 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, sigma moves, the volatility surface, and positioning.

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.
Positioning & Valuation

Two scatters plotting the Commercial COT Index and Valuation against recent sigma moves, one contract per point. Valuation runs in standard deviations, with -2 and +2 marked.

How to read it. The COT Index runs 0 to 100 with 20 and 80 drawn as the conventional extremes. Pairing positioning against a move rather than against the Large Speculator index is deliberate: the two trader groups are near mirror images of each other, so that plot would carry one dimension of information dressed as two. Positioning is weekly and the move legs are daily, so the two are joined by contract rather than read as one snapshot.

Screener & Lens

Futures Screener

The full contract list, grouped by the same categories as Global, with columns spanning positioning, valuation, seasonality, skew, momentum, and 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), trailing return at 1-week, 1-month, 3-month, 6-month, and 1-year horizons, Volatility Expansion, Momentum, Regime one-week change, Regime one-month change, Regime, and Phase. Four extreme-filter toggles (COT, Valuation, Seasonality, Skew) combine as a confluence filter rather than individually. Trend-phase chips (Base, Initiation, Trend, Climax, plus a Diverging badge) label where a contract sits in a positioning cycle, derived from the regime composite's level and its one-month change plus a realized-volatility expansion read; it is a descriptive phase label, not a disclosed model. 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, Proximity to 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 above +10; Bearish requires a rank of 3 or worse and a momentum reading below -10, both disclosed on the page itself. See Cross-Asset, Momentum Indicator for how the momentum reading itself is built.
Vol Lens

One row per contract, roughly 37 symbols grouped and colored by category, each plotted on a shared z-score axis. Two toggleable groups of dots per row.

How to read it. The volatility group plots VRP, 30-day IV, 20-day RV, and Steepness (the term-structure slope, z-scored). The regime group plots 25-delta Skew, COT, and Valuation alongside three proprietary composites scaled to the same axis, Regime, Carry (the curve-carry reading that also feeds the regime composite), and Momentum. Clicking a dot opens the full Options Analytics for that contract in a modal, or jumps straight to its Analysis page.

Cross-Asset

Regime Indicator

The Regime composite is the canonical directional and positioning read for each asset. It is the headline regime score on every asset Momentum tab and on the SPX dashboard, built from a different set of components per asset class and combined into one number.

Regime composite

A single directional read per asset. Positive means the components broadly agree that conditions favor the upside (risk-on); negative means the opposite (risk-off).

Inputs. A different set of components per asset class, each bounded to +/-100. Equities: price trend, options skew, dark-pool short volume, and cross-sectional momentum. Futures: price trend, options skew, curve carry (backwardation reads bullish), large-speculator positioning, and cross-sectional momentum. Crypto perpetuals: price trend, perpetual funding, momentum, basis carry, 25-delta skew (risk reversal), and order-book depth. Broad market (SPX): market breadth, VIX term structure, and credit spreads; price trend is deliberately excluded from this one.
Output. One composite from -100 to +100. Positive is risk-on or directional-up, negative is risk-off or directional-down. How the components are weighted and normalized into the composite is proprietary and not shown.
How to read it. Read the sign first, then the magnitude in bands. +60 and above is broad agreement across the components, high conviction. +10 to +60 is directional but mixed, with some components disagreeing. Near zero is no regime, often a transition. -60 and below is the risk-off mirror of the top band. The broad-market (SPX) read marks its elevated lines at +/-50 rather than +/-60. The percentile shown next to the value places the current reading against the composite's own history, so a rare +40 reads differently from a common one. The per-component bars below the composite show what is driving the score, so a reading carried by a single component can be told apart from one where every input agrees. Four common uses: confirm a trade is aligned with the regime, spot rotations early when a component turns before price, size by percentile rather than raw value, and watch for divergence when the composite and its components point different ways. The weighting and normalization behind the score are proprietary and not shown.
Regime dot (Volatility Lens)

On the Volatility Lens pages, each ticker defaults to a single dot placed by its regime z-score, the current composite measured against its own trailing one-year history.

How to read it. The dot sits on the same z-score axis as the lens skew, IV, RV, and positioning dots, so the regime read can be compared against the other extremes at a glance. See Core Concepts for the z-score scale (near 0 normal, +/-2 extreme).

Momentum Indicator

The TradingRiot Indicator is a momentum ensemble shown on the per-symbol Momentum tab, on the momentum screener pages, and in the market quick-view modal.

TradingRiot Indicator

A single momentum read built from three components: trend, breakout, and acceleration.

Inputs. Three components: trend, breakout, and acceleration.
Output. One score from -100 to +100. The exact component formulas and how they blend are proprietary and not shown.
How to read it. The sign gives direction. Past +/-10 the indicator is in a directional regime rather than chop; past +/-70 it is stretched, an extended move rather than a fresh one. A short moving-average signal line smooths it, and crosses of the indicator through that signal line mark shifts in momentum. The cross-sectional momentum read below also feeds the Regime composite above as one of its inputs. The component formulas and the blend are proprietary and not shown.

Ranking Metrics

The Momentum Metrics panel on the per-symbol Momentum tab shows a set of ranking cards. These are plain rankings and returns, not the proprietary indicator above.

Cross-sectional momentum

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. This is the momentum input that also feeds the Regime composite.
Time-series momentum

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 ranks the symbol against its own history rather than against its peers.
Relative momentum

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 momentum

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.
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.
Proximity to 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.

Supplementary Indicators

Two more series sit alongside momentum on the per-symbol Momentum tab, describing how the recent tape has behaved. Both are structure-only reads; the underlying formulas are not shown.

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.
Directional Intensity and Volatility Regime vs forward return

A scatter that plots each past reading of Directional Intensity, or of Volatility Regime, against the return that actually followed it, at a selectable 10, 30, or 60-day horizon.

How to read it. A regression line and R-squared summarize the historical relationship, binned averages group the readings, and the current reading is highlighted, so the present read can be placed against how similar readings resolved before. It describes a past relationship, not a forecast.

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 strategy builder: assemble any combination of legs, or start from a preset, and see the combined position's P&L and Greeks update live. Building and viewing a structure is free for any signed-in user; saving it into Portfolio requires a premium plan.

Legs

The individual contracts that make up a structure. Each leg is a direction (long or short), a type (call, put, or the underlying itself), a strike, an expiration, and a quantity.

How to read it. Strike and expiration can be picked from the loaded symbol's live option chain, or entered directly. Premium and implied volatility are editable per leg: changing either recomputes that leg's Greeks, so a real fill can be tested against the model rather than only the theoretical price.
Strategy presets

18 one-click starting points, each building a complete set of legs at the at-the-money strike: long and short call, long and short put, call spread, put spread, credit call spread, credit put spread, long and short straddle, long and short strangle, iron condor, iron butterfly, long and short calendar, ratio call spread, and ratio put spread.

How to read it. Choosing a preset replaces the current legs with that structure's legs. Any leg can then be edited or removed, and further legs added, to depart from the preset.
Greeks (aggregated)

The five standard option-price sensitivities, computed per leg from the same pricing model used across the platform, then summed into one row for the whole structure.

How to read it. Delta is the price change per $1 move in the underlying. Gamma is the rate Delta itself changes per $1 move, how much the position's directional exposure will shift as price moves. Theta is the price change per day of time decay, usually negative for a structure that is net long premium. Vega is the price change per 1 percentage point move in implied volatility. Rho is the price change per 1 percentage point move in the risk-free rate, the smallest effect for most short-dated structures.
P&L diagram

A chart, or table, of the structure's profit or loss across a range of underlying prices, at a chosen date between today and expiration.

How to read it. A metric selector switches the chart between P&L and each Greek. A date slider moves the projection from today out to expiration (or the front leg's expiration for a calendar spread), and a range slider widens or narrows the price axis around the current price. An implied-volatility slider rescales the IV used in the projection, so the diagram can be shown at today's IV or under a higher or lower volatility scenario. The chart marks maximum profit, maximum loss, and breakeven price(s), where P&L crosses zero at expiration. The table view shows the same P&L or Greek as a heatmap across a grid of prices and dates instead of a single line.

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 surfaces whichever has the best in-range Kelly percent. Optional Signal Boosts, shown only when relevant to the loaded symbol, can be toggled on to fold an additional read into the scan; which strikes rank best can shift once a boost is enabled.
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, 20-day realized volatility, the symbol's momentum read, and any enabled signal boosts.
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 when momentum or a signal boost points one way. 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.
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. A Show estimated 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 Date (a before-open, after-close, or unknown-time icon, plus days to earnings), Ticker (logo, symbol, company name, an Est. badge on unconfirmed dates), Implied Move, Average Move (the historical average move around past reports), Avg Implied Move, Impl vs. Actual (the ratio of implied to historical average move), Avg Straddle Return (colored by sign), and Total Straddle Return (colored by sign, cumulative).

Watchlist & 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
stopdistance = |price - stop|
stopdistance = stopx × (blendedvol / 100 / 16) × price
position = (capital × risk%) / (stopdistance × multiplier)
Put Spread mode
contracts = floor((equity × risk%) / ((width - credit) × 100))
notional = (capital × pertradevol) / (netdelta × 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.

volfwd = sqrt((IVback2 × Tback - IVfront2 × Tfront) / (Tback - Tfront))
FF = (IVfront / volfwd - 1) × 100%
How to read it. Inputs are the front and back month IV and expiration dates, the underlying and strike price, 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. A What-If panel lets the debit price be adjusted to see how the Forward Factor would change.
Short Volatility

Prices a short-premium options structure and analyzes it against the price the user says they were actually filled at. Four structures share one pricing engine: short straddle and short strangle (undefined risk unless hedged), and put credit spread and call credit spread (defined risk).

Effective Fill IV
find IV such that structurevalue(IV) = fillcredit
Optimal hedge bands (short straddle and short strangle only)
H0 = cost / (riskaversion × S × sigma2 × T)
H1 = 1.12 × cost0.31 × T0.05 × (e(-rT) / sigma)0.25 × (|positiongamma| / riskaversion)0.5
upperband = H0 + H1
lowerband = -(H0 + H1)
RV Scenario
Inputs. The same structure and fill credit, plus a forecast realized-vol input (and an optional annual drift for the two credit spreads).
Output. 20,000 simulated price paths held to expiry, priced off the entered fill rather than the theoretical premium: mean $ and % P&L, standard deviation, win rate, Kelly fraction, and the minimum, 25th percentile, median, 75th percentile, and maximum outcome.
How to read it.

Shared inputs are an optional ticker search, the strike or strikes, current price, market IV, risk-free rate, days to expiry, and number of contracts. For the two hedgeable structures, an Advanced Parameters panel adds Transaction Cost and Risk Aversion.

Effective Fill IV shows the flat implied vol that reproduces the entered fill alongside the market IV, the gap between them, and the theoretical premium and net vega, so a fill can be judged rich or cheap against the market's own pricing.

For short straddle and short strangle, the hedge panel shows a BUY, SELL, or HOLD action with a share count: rehedge (sell) once position delta rises above the upper band +(H0 + H1), rehedge (buy) once it falls below the lower band -(H0 + H1), and do nothing (HOLD, stay inside the no-trade zone) otherwise. It also shows position delta, both bands, call and put delta, and a Calculation Details panel with the underlying constants. For the two credit spreads, a Defined-Risk Summary is shown instead: width, theoretical credit, max profit, and max loss.

The RV Scenario is priced off the fill credit that was actually collected, not the theoretical premium, so the P&L distribution reflects the trade as entered.

Where to find it. This page's URL was previously /calculators/straddle-hedge; that address still redirects here.
Correlation Matrix

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

r = (n × sumxy - sumx × sumy) / sqrt((n × sumx2 - sumx2) × (n × sumy2 - sumy2))
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 auto-fill the underlying price, volatility, and a listed expiration; 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.

Data Sources & 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.