Equity Hub™ levels are split into five categories:

1. Ticker Informaiton
2. SpotGamma Key Daily Levels
3. Directional Indicators
4. Volatility Insights
5. Dark Pool Indicators

Ticker Information (Grey)

Symbol - Stock ticker.

Current Price - Current stock price. If a stock’s current price is trading lower than the previous closing price, the price will be shown in red, and if the stock’s current price is trading higher than the previous closing price, then it will be shown in green. These colors can be customized so may change based on your preferences.

Previous Close - Price of the stock at yesterday’s close. Our data is modeled using last night's closing price. If the current price is far from the closing than some of our levels may jump or shift accordingly.

Stock Volume - This is the total volume of stock traded the previous day.

52wk High (52 Week High) - This is the highest price the stock reached during the last 52 weeks.

52wk Low (52 Week Low) - This is the lowest price the stock reached during the last 52 weeks.

Earnings Date - The earnings date and time for the underlying equity.

 

SpotGamma Key Daily Levels (Teal)

All of these levels are important and include SpotGamma insights which are not available anywhere else in the financial space. Additionally in this section you’ll see expiration data based on industry standard calculations that can complement SpotGamma’s levels as a part of your trading strategy.

Key Gamma Strike - Options Strike with the most total gamma. A stock may pin or trade around the strike with the largest gamma position. Further studies suggest that the movement of the key gamma strike is correlated to stock returns.

Key Delta Strike - Options strike with the most total delta. When the key delta strike is in the money it may signal a reversal of a stock after expiration. This is due to large dealer hedges being unwound.

Hedge Wall - Proprietary SpotGamma level, considered a major support or resistance level, where risk exposure changes significantly for options dealers.

Call Wall - Strike with largest call open interest. This is considered a resistance level for the stock.

Put Wall - Strike with largest put open interest. This is considered a support level for the stock.

Call Gamma - The total amount of call gamma for the underlying stock as of the previous close.

Put Gamma - The total amount of put gamma for the underlying stock as of the previous close.

Next Expiry Gamma % - Percentage of gamma expiring at the next expiration. When the amount of gamma expiring is above 25% it means there is a significant concentration of short dated options positions in the stock. This may magnify the importance of options positioning due to expiration.

Next Expiry Delta % - Percentage of delta expiring at the next expiration. When the amount of delta expiring is above 25% it means there is a significant concentration of short dated options positions in the stock. This may magnify the importance of options positioning due to expiration. If large put deltas are expiring the stock may rally as dealers cover short hedges. If large call deltas are expiring then the stock may sell off after expiration due to dealers selling long hedges.

Top Gamma Expiry - Expiration date with the largest gamma notional expiring. Dates with large options expiring may invoke significant options related hedging flows. This suggests that the impact of options related flows may be a key driver of the stock in the days into and out of options expiration.

Top Delta Expiry - Expiration date with the largest delta notional expiring. Dates with large options expiring may invoke significant options related hedging flows. This suggests that the impact of options related flows may be a key driver of the stock in the days into and out of options expiration.

Call Volume - The total amount of call options from the previous day's trading.

Put Volume - The total amount of put options from the previous day's trading.

Next Expiry Call Volume - The percentage of the previous sessions total call volume that was traded in contracts which expire at the next available expiration.

Next Expiry Put Volume - The percentage of the previous sessions total put volume that was traded in contracts which expire at the next available expiration.

 

Directional Indicators (Grey)

These directional indicators help you see where options dealers are positioned and how you can take advantage of trading opportunities.

Put Call Ratio - Number of puts open interest yesterday, vs number of call open interest for the previous session.

Put Call Volume Ratio - Put Delta:Call Delta Ratio. High/Low put delta to call delta indicates there are larger at-the-money put/call positions current in a stock. When large puts/calls expire it may lead to a move higher/lower in the stock as large stock hedges are unwound.

Gamma Ratio - Total put gamma divided by total call gamma. Higher ratios indicate a larger number of puts which suggests the stock could be under pressure.

Delta Ratio - Total put delta divided by total call delta. Higher ratios suggest that there are larger put positions in underlying stock, which indicates the stock could be under pressure.

 

Volatility Insights (Yellow)

Helps frame when the markets can rip upward, crash downward, or simply stay within a range. Knowing the underlying risk for each stock helps you manage your trading decisions and volatility indicators can unveil where the true risk lies for each name.

Net Expiry Skew - Implied volatility skew for options expiring on the next expiration date. A high skew reading indicates that there is excess demand for buying put options and/or selling call options. A high skew in the "NE Skew" column indicates there is more speculative, short term trading activity.

Skew - Implied volatility skew for options expiring in 30 days. A high skew reading indicates that there is excess demand for buying put options and/or selling call options.

1 M RV (1 Month Realized Volatility) - This represents 1 month realized volatility, or actual volatility experienced by an underlying asset over 1 month.

1 M IV (1 Month Implied Volatility) - This represents Implied Volatility, or market expectation of volatility, for the following month.

IV Rank (Implied Volatility Rank) - The rank displays how high a stock's current IV is versus the previous year.

Garch Rank - The Garch Rank is a proprietary measure of how a stock's volatility compares to the prior 30-days, ignoring event-specific volume.

Skew Rank - Displays how high a stock's most recent skew (difference between 25 delta call IV/put IV) rank versus the prior year; high values suggest traders hold a bullish view of the stock, while lower values indicate bearish expectations. 

Options Implied Move - Estimated stock move based on current options implied volatility. This is the percentage move options traders are pricing in for the stock over the next 30 days. If you believe the stock may move more or less than the estimated move, you may have a trading edge.

 

Dark Pool Indicators (Orange)

“Dark Pools” are off exchange trading venues wherein large institutions typically trade. The transactions in these venues are required to be made publicly available. Through analyzing the activity in this data it may be possible to determine which stocks have high levels of institutional buying or selling.

DPI - Dark Pool Indicator assess the short activity within a given stock or index. You can see the DPI color scale to quickly monitor names with the highest DPI % in darker green, indicating the most bullish results, and the lowest DPI % in darker red indicating the most bearish results.

% DPI Volume - The number of shares sold short, both in dark pools and on listed exchanges, divided by the total shares outstanding for a given stock.

5 Day DPI - The average DPI reading over the last five trading days.

5 Day % DPI Volume - The average DPI % reading over the last five trading days.

 

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