HIRO is SpotGamma’s real-time indicator of options hedging pressure. With HIRO, you can quickly see where and how options are driving 400+ US tickers that have significant options trading activity.

HIRO (Hedging Impact of Real-time Options) measures and aggregates the delta notional value from every option trade, estimating the hedging requirement associated with each transaction. This indicates how options flows impact both the direction and magnitude of price action.

There are multiple ways to trade with HIRO, including:

• Tracking Flow Alerts to see when significant buying pressure or selling pressure is taking place
• Watching for the HIRO signal to reverse when price reaches key support and resistance levels
• Trading into sharp directional moves that indicate meaningful options hedging pressure

Ultimately, HIRO is designed to distill millions of data points from across the options market into actionable insights.

Statistics: Check out SpotGamma’s Statistics on how our key levels have performed for the SPX using data from 2018 - 2024.

SpotGamma Alpha subscribers can exclusively access the SpotGamma HIRO Indicator inside the SpotGamma Dashboard here.

Additionally, here is a link to the SpotGamma HIRO User Guide.