Learn the numbers
Six concepts that explain what institutions are doing — written the way we actually calculate them, including what each one cannot tell you.
A dark pool is a private venue where institutions trade without posting their orders to a public order book. T…
Max pain is the price at which the largest total value of open options contracts would expire worthless — the …
Gamma exposure measures how much dealers must buy or sell as the underlying moves, because of the options they…
The call wall is the strike above the current price (up to 20% higher) carrying the largest call open interest…
The put/call ratio divides put activity by call activity. Below roughly 0.7 leans bullish; above roughly 1.0 l…
Options flow is the stream of options orders as they print. Reading it well means separating routine hedging f…
Volume counts how many contracts changed hands today. Open interest counts how many are still outstanding afte…
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