Compass is SpotGamma’s proprietary scanner that enables you to discover new trade ideas and analyze the best ways to trade your favorite names. With Compass, you can plot multiple stocks across a 2-dimensional grid to assess both the volatility expectations and directional positioning for those names. Compass resides at the top of the Scanners page in the SpotGamma dashboard. Below is a list of the features provided within Compass.

(A) Guided View

The Guided View within Compass empowers you to see if the stocks you follow have relatively high or low implied volatility, with a bullish or bearish setup. This helps you set up optimized trades by showing you how the options market prices in the magnitude and direction of stock movement.

Read more about Guided View in our article, What Is Guided View in Compass? Additionally, find backtesting results in our Compass Guided View Statistics article.

(B) Explorer View

The Explorer View toggle gives you full control over which metrics you can apply to the grid to evaluate a specific name. Learn more in our article What is Compass Explorer View? In our Support Center.

(C) Customizable Axes

The axes are fixed within the Guided View. Within the Explorer View, you can select your preferred x- and y-axis values from the dropdowns at the top, along with an additional z-axis overlay (impact reflected by the size of the circle).

(D) Tooltips

Hover over a name on the Compass grid for detailed metrics including SpotGamma nearby support and resistance levels, descriptions of volatility, and potential conservative trade setups. 

(E) Stock Selection

There are three ways to add names to the Compass grid. You can (1) Select names from your watchlist by clicking on the dropdown, (2) Choose from the VRP or Squeeze Scanner by clicking on the scanner dropdown on the right, or (3) Type in the ticker name in the search box to populate on the grid.

Learn more about SpotGamma Compass by downloading the full user guide (PDF), available here.

SpotGamma Pro and SpotGamma Alpha subscribers can access Compass here.