Options
Alignment Score (Ultimate)
Chartable: No
Unit: Number
A 0-100 score measuring how many option-market signals agree that conditions are favorable for entering a stock position.
It checks four factors — whether implied volatility is cooling down, whether the skew (demand for downside puts) is easing, whether crowded hedging positions are being unwound, and whether the term structure is in its normal shape (not inverted).
When all four align favorably, the score is high (above 75), suggesting a strong option-market tailwind for an equity entry.
When signals conflict or point to continued stress, the score is low (below 40).
Think of it as a consensus check — the more signals that agree, the more confidence you can have in the timing.
ATM IV (Ultimate)
Chartable: No
Unit: Percentage
At-the-money implied volatility (IV) for the nearest expiry, expressed as an annualized percentage. IV reflects how much movement the options market expects in the stock price.
When IV is high, option traders are pricing in big upcoming moves and options are expensive to buy; when IV is low, the market expects calm trading and options are cheaper.
Compare a stock’s IV to its own historical range rather than to other stocks, because each stock has its own normal volatility level.
Typical values range from 15-30% for large-cap stocks and 40-80%+ for speculative names.
Crash Hedge Pressure (Ultimate)
Chartable: No
Unit: Number
Measures how much demand there is for crash protection relative to normal, derived from the risk reversal z-score (inverted so higher = more pressure).
When traders fear a sharp decline, they bid up out-of-the-money put options for insurance, driving the risk reversal more negative. This metric flips the sign so that higher values are easier to interpret as more fear.
Values above +1.5 indicate unusually heavy crash-hedge demand — institutional investors may be buying insurance against a significant drop.
Values near zero mean normal levels of hedging activity.
Negative values are rare and suggest traders see more upside risk than downside risk.
Entry Label (Ultimate)
Chartable: No
Unit: Name
A plain-language label summarizing the option-market entry conditions, derived from the composite Entry Score.
ENTRY-GOOD (score 70+) means multiple option-market signals favor buying the stock now — volatility is settling, hedging is easing, and no major event risk is priced in.
OK (55-69) means conditions are mildly supportive.
NEUTRAL (45-54) means option signals are mixed with no clear directional lean.
WARNING (below 45) means conditions are unfavorable — volatility is rising, traders are actively hedging, or a big event looms — and it may be better to wait.
Use this as a quick traffic-light summary when you do not need the full numeric score.
Entry Score (Ultimate)
Chartable: No
Unit: Number
The master 0-100 entry-timing score that combines all option-market signals into a single number. It weighs implied volatility trend, skew (put demand), hedging crowding, term structure shape, expected move size, and options liquidity to assess whether conditions favor buying the stock now.
Scores of 70+ (ENTRY-GOOD) indicate multiple option-market tailwinds are aligned — fear is receding, hedges are being unwound, and there is no imminent event risk.
Scores of 55-69 (OK) are mildly favorable.
Scores of 45-54 (NEUTRAL) show mixed signals.
Scores below 45 (WARNING) mean option-market conditions are hostile — volatility is rising, traders are actively hedging, or a big event is imminent — and suggest waiting for a better entry window.
Event Risk Score (Ultimate)
Chartable: No
Unit: Number
A 0-100 score that gauges how much near-term event risk (such as earnings, FDA decisions, or other catalysts) the options market is currently pricing in. It combines two signals — whether the expected stock move is unusually large and whether near-term options are unusually expensive relative to longer-dated ones.
Scores above 70 indicate the market is bracing for a significant event and expecting a big move, so entering a new stock position carries elevated risk of a large gap up or down.
Scores below 30 suggest the market sees no unusual near-term catalyst.
Use this to decide whether to wait for an event to pass before entering a trade.
Has Options (Ultimate)
Chartable: No
Unit: Number
Indicates whether this stock has listed option contracts available for trading.
Stocks with options (YES) have an active derivatives market, which means the other option-based metrics in this folder will have data.
Stocks without options (NO) are typically smaller or newer companies that have not yet met exchange listing requirements for options.
If this shows NO, all other option metrics will be blank for this stock.
Has Weekly Options (Ultimate)
Chartable: No
Unit: Number
Indicates whether this stock has weekly option expirations in addition to the standard monthly cycle.
Weekly options expire every Friday and are available on the most actively traded stocks and ETFs. Stocks with weekly options (YES) tend to have more liquid options markets and are more susceptible to weekly pin risk and gamma-driven price swings near each Friday expiration.
Stocks without weeklies (NO) only have monthly option expirations, which means options-driven price effects concentrate around the third Friday of each month instead.
Hedge Build Alert (Ultimate)
Chartable: No
Unit: Number
A warning flag that lights up when option traders are actively building new downside protection positions.
It triggers when any combination of these danger signals is present — hedging crowding is rising (more traders piling into puts), skew is steepening (put options getting more expensive relative to calls), or implied volatility is elevated and still increasing.
When this flag shows YES, smart money may be positioning for a decline, making it a risky time to buy the stock.
When NO, there is no abnormal increase in defensive positioning.
This is one of the most important caution signals in the options toolkit.
Hedging Crowding Z20 (Ultimate)
Chartable: No
Unit: Number
A z-score measuring how today’s put/call open interest ratio compares to the last 20 trading days. This tells you whether current hedging activity is unusually high or low relative to what is normal for this stock.
Values above +1.5 mean traders are holding significantly more puts (downside protection) than usual — the hedging trade is crowded and could signal either genuine risk or an overly fearful market that may be nearing a reversal.
Values near zero indicate normal hedging levels.
Negative values mean less hedging than usual, which may indicate complacency.
Extreme readings (above +2.0 or below -2.0) are most actionable.
Hedging Unwind Flag (Ultimate)
Chartable: No
Unit: Name
Flags YES when an unusually crowded hedging position is starting to unwind.
Hedging becomes crowded when many traders pile into put options for protection, pushing the put/call open interest ratio well above normal (z-score above 1.5). When this crowding begins to ease (the ratio is declining over 5 days), it signals that the worst of the fear may be passing and protective positions are being closed. This unwinding often creates buying pressure that supports the stock price.
YES is a potentially bullish signal suggesting the panic trade is reversing.
NO means either hedging is not unusually crowded or it is still building.
Implied Move (%) (Ultimate)
Chartable: No
Unit: Percentage
The expected percentage move in the stock price implied by at-the-money option prices for the nearest expiry. This is the market’s best estimate of how far the stock could move up or down before the options expire.
For example, a value of 5% means options are pricing in roughly a 5% move in either direction. This is especially useful around earnings announcements or other events — a high implied move suggests the market expects a significant catalyst.
Compare to the stock’s actual historical moves around similar events to judge whether the options market is over- or under-pricing the expected move.
Implied Move Z20 (Ultimate)
Chartable: No
Unit: Number
A z-score measuring how today’s option-implied move compares to the last 20 trading days.
A z-score tells you how many standard deviations a value is above or below its recent average — zero means average, positive means higher than usual, negative means lower than usual.
When this score is above +1.5, the market is pricing in an unusually large move compared to recent history, often ahead of earnings or other events.
Values below -1.0 suggest the market expects less movement than usual, meaning options may be relatively cheap.
IV Cooling Score (Ultimate)
Chartable: No
Unit: Number
A 0-100 score that measures whether implied volatility (the market’s fear gauge) is cooling down after being elevated.
After a panic or selloff, IV spikes because traders rush to buy protective options. As fear subsides, IV begins to fall — this cooling phase often coincides with a stabilizing or recovering stock price, making it a favorable window to enter a position.
High scores (above 70) mean IV was recently elevated but is now dropping, a bullish signal.
Low scores (below 30) mean IV is elevated and still climbing, suggesting the fear trade is not over and further downside is possible.
Scores near 50 are neutral.
IV Regime (Ultimate)
Chartable: No
Unit: Name
Classifies the current implied volatility environment into one of three regimes based on the 20-day IV z-score.
CHEAP means IV is at least one standard deviation below its recent average — options are unusually inexpensive, which often indicates complacency and can be a good time to buy protective puts or enter positions with lower hedging cost.
NORMAL means IV is within one standard deviation of its average.
EXPENSIVE means IV is at least one standard deviation above average — options are pricey due to fear or event anticipation, making it costly to hedge and often signaling elevated risk in the underlying stock.
Liquidity Z20 (Ultimate)
Chartable: No
Unit: Number
A z-score measuring how today’s option bid-ask spread compares to the last 20 trading days, for strikes near the current stock price.
The bid-ask spread is the gap between the price buyers offer and sellers demand — wider spreads mean higher trading costs and less liquidity.
A positive z-score means spreads are wider (worse) than recent history, which may signal declining market-maker confidence or unusual uncertainty.
A negative z-score means spreads are tighter than usual (better liquidity, lower cost to trade).
Values above +2.0 indicate significantly degraded liquidity compared to normal, suggesting caution when entering option trades.
Max Pain Distance (Ultimate)
Chartable: No
Unit: Percentage
The percentage distance between the current stock price and the max-pain strike price for the nearest expiry.
Max pain is the price at which option holders collectively lose the most money (and option sellers profit the most), so the stock tends to gravitate toward it as expiration approaches due to hedging flows.
A small distance (under 1%) means the stock is already near max pain and may experience pinning — price stalling near that level.
A larger distance (above 3-5%) means the stock has room to move before max-pain effects kick in.
Positive values mean the stock is above max pain; negative values mean it is below.
Options Liquidity Grade (Ultimate)
Chartable: No
Unit: Grade
A letter grade (A through D) rating the quality of options liquidity for this stock. The grade is based on how tight the bid-ask spreads are for options near the current stock price.
Grade A means tight spreads (under 6%) and enough data points to be reliable — you can trade options on this stock efficiently with low slippage.
Grade B (6-9% spreads) is acceptable.
Grade C (9-12% spreads or limited data) means higher trading costs and less reliable option signals.
Grade D (spreads above 12%) means poor liquidity — option prices are unreliable, trading costs are high, and the other option-based signals for this stock should be treated with caution.
Pin Risk Score (Ultimate)
Chartable: No
Unit: Number
A 0-100 score estimating the risk that a stock’s price will get pinned near a particular strike price as options approach expiration.
Pinning happens when large open-interest positions by market makers create hedging flows that pull the stock toward the strike with the most open interest (max pain). This causes choppy, range-bound price action that frustrates directional trades.
The score combines how close the stock is to max pain, how soon options expire, and how active the options market is.
Scores above 70 warn that price movement may stall near expiration.
Low scores (below 30) suggest the stock is free to move more naturally.
This score is only informative during the few days before an options expiry, otherwise it will be 0.
Post‑Panic Cooling (Ultimate)
Chartable: No
Unit: Number
A bullish timing flag that triggers when the options market shows signs of recovering from a recent panic.
It signals YES when implied volatility is still elevated (indicating a recent scare) but is now declining, and importantly, skew and hedging crowding are no longer worsening. This cooling phase after a panic often represents an attractive entry window — the worst of the fear has passed, but the stock may not have fully recovered yet, offering a better risk/reward.
When NO, either there has been no recent panic, or the panic is still intensifying and it may be too early to step in.
Put/Call OI Ratio (Ultimate)
Chartable: No
Unit: Ratio
The ratio of total put open interest to total call open interest across the option chain. Open interest is the number of outstanding option contracts that have not been closed.
A ratio above 1.0 means more puts are open than calls, indicating heavier hedging or bearish positioning; below 1.0 means more calls are open, suggesting bullish positioning.
Most stocks hover between 0.5 and 1.5.
Ratios above 2.0 suggest unusually heavy downside protection demand, which can signal fear but also sometimes precedes a relief rally when those hedges are unwound.
Risk Reversal 25D (Ultimate)
Chartable: No
Unit: Number
The 25-delta risk reversal measures the difference in implied volatility between out-of-the-money put options and out-of-the-money call options (put IV minus call IV). It reveals whether traders are paying more for downside protection (puts) or upside bets (calls).
A negative value means put options are more expensive than calls, indicating that traders are worried about a drop and are paying a premium to hedge.
A value near zero suggests balanced sentiment.
Positive values are rare and suggest traders see more upside risk.
Values of -0.05 or lower signal significant fear in the market for that stock.
Signal Reliability 0‑1 (Ultimate)
Chartable: No
Unit: Number
A 0-to-1 confidence score indicating how reliable the other option-based signals are for this stock, primarily driven by options liquidity.
A score of 0.90+ means the options market is liquid with tight spreads and ample data — you can trust the entry signals.
A score of 0.50-0.89 means moderate reliability — the signals are directionally useful but may be noisy.
A score below 0.50 means poor liquidity with wide bid-ask spreads, so the other option metrics may not accurately reflect true market sentiment.
Always check this score before acting on other option signals; a perfect Entry Score with low reliability may be misleading.
Skew Trend 5D (Ultimate)
Chartable: No
Unit: Number
The 5-day change in the 25-delta risk reversal, showing whether the demand for downside put options is increasing or decreasing over the past week.
A negative change (skew steepening) means put options are getting relatively more expensive — traders are adding downside protection, signaling growing fear.
A positive change (skew easing) means the fear premium is coming out of puts — traders are reducing hedges, a sign that anxiety is subsiding.
Look for positive values as a bullish signal that fear is fading, and negative values as a warning that risk sentiment is deteriorating.
Term Structure Inversion (Ultimate)
Chartable: No
Unit: Name
Flags YES when the IV term structure is inverted, meaning near-term options are more expensive than longer-dated options.
Normally, options that expire further out cost more because there is more time for the stock to move. When this relationship flips (inversion), it signals that traders expect a large near-term event — such as earnings, an FDA ruling, or a legal decision — that could cause a sharp price move.
YES is a warning that event risk is imminent and entering a position now carries risk of a large gap in either direction.
NO means the term structure is in its normal shape, with no unusual near-term event being priced in.
Term Structure Z20 (Ultimate)
Chartable: No
Unit: Number
A z-score measuring how today’s IV term structure slope compares to the last 20 trading days.
The term structure slope is the difference between longer-dated and near-term implied volatility. Normally, longer-dated options have higher IV (positive slope).
A high positive z-score means the slope is steeper than usual (calm near-term, uncertainty further out). A very negative z-score means near-term IV has spiked relative to longer-term IV — this inversion often signals an imminent catalyst like earnings where traders expect a big move soon.
Values below -1.5 are a strong indicator of near-term event risk being priced in.
Weekly OI Dominance (Ultimate)
Chartable: No
Unit: Percentage
The percentage of total options open interest that is concentrated in weekly (short-dated) expirations versus monthly expirations.
When weekly options dominate (values above 60%), the stock’s price action is more heavily influenced by short-term options hedging flows from market makers, which increases the likelihood of choppy, range-bound trading near options expiration each week.
Values below 30% mean most options activity is in monthly cycles, giving the stock more room for natural price trends.
High weekly dominance is particularly relevant for short-term traders who need to be aware of weekly pin risk and gamma-driven volatility.