DASHBOARD

• In positive environments, dealer counter-directional hedging dampens price moves, and range-bound behavior is observed

• In negative environments, dealer co-directional hedging amplifies price moves, and trend persistence is statistically elevated

• When a sign transition occurs, the existing regime ends and a new volatility regime begins

• Below Flip: Dealers hedge against price direction, producing natural dampening effects

• Above Flip: Dealers hedge with price direction, amplifying the magnitude of moves

• Within ±2% of Flip, a regime transition from current to opposite state is imminent

• In HIGH states, even minor catalysts can trigger cascading forced hedging — classified as an elevated-risk zone

• In MED states, latent energy is accumulating and the key factor is whether an external catalyst emerges

• In LOW states, options structure is stable and price moves within natural ranges

• Above +2% deviation indicates overextension relative to average cost, a zone where profit-taking pressure is statistically observed

• Within ±0.3% is the institutional benchmark contest zone — the breakout direction warrants close attention

• Below -2% deviation indicates average cost underperformance, with structurally dominant downside pressure

• Extreme call dominance below 0.7 reflects concentrated optimism — historically a precursor to corrections

• Extreme put dominance above 1.3 reflects peak fear — historically a precursor to rebounds

• The 0.8–1.2 range represents neutral sentiment; cross-analysis with GEX, Squeeze, and other derivative indicators is recommended

• Below 50%: transition zone near Flip level, where gamma regime change probability is elevated

• 50–80%: stable zone well-separated from Flip, where the current gamma regime is likely to persist

• Checking GEX Regime alongside Flip price deviation enables quantitative assessment of distance to the transition threshold

• IM ±1.4% or less: options market pricing low volatility, range-bound environment expected

• IM ±3% or more: options market pricing high volatility, large directional move expected

• Call premium > Put implies upside skew; Put > Call implies downside skew. IV Skew direction reveals asymmetry in market expectations

• Within 48 hours of expiration: the greater the deviation from Max Pain, the stronger the convergence pressure observed

• Price ≈ Max Pain: Price is already in convergence state; the probability of sideways movement until expiration is statistically elevated

• Post-expiration: the gravitational effect of the prior Max Pain dissipates and a new convergence point forms for the next cycle

• Approaching Call Wall: large call selling inventory creates structural friction against upward movement

• Breaking above Call Wall: dealer gamma hedging demand generates additional buy-side liquidity

• Put Floor: the symmetrical counterpart to Call Wall, serving as downside support at concentrated put selling strikes

• Above 50% indicates institutional-grade participants executing large block orders while minimizing market impact

• Rising ratio + declining price: suggests institutions are accumulating shares during the decline

• Rising ratio + rising price: suggests institutions are distributing holdings during the advance

• Above 40% + rising price: short-covering pressure is structurally accumulating against short positions

• Above 40% + falling price: short-led downtrend is active with sustained downside pressure

• Cross-referencing with Dark Pool ratio is effective — DP↑ + Short↑ together suggests institutional-grade short construction

• IV spike zones: the market is pricing in a major event or unexpected volatility, with expanded premiums

• IV trough zones: low volatility expectations with compressed option premiums

• IV fluctuation around earnings follows a typical pattern — pre-announcement spike, post-announcement collapse (IV Crush)