What · the share of all SPY options contracts traded today that also expire today, against SPY's full options chain (every expiration, LEAPS included).
When · four updates a day: after the first hour (~10:45 AM ET), midmorning (~11:45 AM), midday (~1:45 PM) and after the close. Each covers the session up to that point. The page's last-hour update (~4:45 PM) does not change this figure.
Baseline · needs 10 sessions at the close before today can be rated; 6 so far.
Like for like · a reading during the day is compared only with earlier readings at the same time of day, never with full sessions.
How to read · high readings often coincide with event days (CPI, FOMC, a big single-stock catalyst). Low readings tend to come with quiet, sideways sessions.
History building: 6 sessions so far.
Across 6 index tickers: SPY · QQQ · IWM · SPX · NDX · RUT
Counts tickers where the large/sweep-to-small-print proxy contract-volume ratio exceeds 1. The groups come from size, premium and sweep rules; they do not identify market participants or which customer bought or sold.
What · the SPY price where dealers' estimated net gamma changes sign, from the latest end-of-day options data. SPY's price is from the latest update.
How to read · above the flip, dealer hedging tends to damp moves; below it, hedging tends to add to them. The flip is a boundary, not a target, and says nothing about direction.
What · OPEX is the monthly options expiration, the third Friday of every month, when the bulk of monthly equity option contracts settle.
Why it matters · dealers spend the prior week hedging the gamma exposure of expiring positions. As contracts roll off on Friday, those hedges unwind in size. The result is often a pickup in volatility late in the week, a drop in front-month implied volatility, and pinning around heavily held strikes.
How to use · read flow inside an OPEX week with extra care. Unusual size or sweeps this close to expiration are often mechanical rebalancing rather than a view on direction.
Contracts 8 to 90 days out whose volume in a single scan window reached 2× the open interest before the session. About 8 in 10 like these showed a position opened by the next session; that says a position opened, not which way price goes.
Vol/OI · the contract's volume in its strongest scan window against the open interest before the session. The bar compares the contracts on this list.
First seen · the first update the contract made the list in.
8 to 90 days out, with one update's volume at 2× or more of the open interest before the session. About 8 in 10 like these opened a position by the next session; that is not a call on direction.
| # | Ticker | Contract | Vol/OI | Premium | Side | First seen |
|---|---|---|---|---|---|---|
| 1 | XLP | $85 POct 30 · 15d | 33× | $235K | 1 bought · 1 sold | Midday |
| 2 | HUT | $75 CNov 20 · 36d | 25× | $2.8M | 1 bought · 1 sold | Midmorning |
| 3 | TLT | $81 CNov 13 · 29d | 24× | $3.9M | — | First hour |
| 4 | TSM | $375 PNov 6 · 22d | 19× | $512K | Single-leg floor | Midmorning |
| 5 | GS | $800 POct 23 · 8d | 17× | $298K | — | First hour |
| 6 | IBIT | $47 COct 30 · 15d | 14× | $2.8M | — | First hour |
| 7 | TSM | $445 CNov 6 · 22d | 13× | $767K | 1 bought print · Bullish | Last hour |
| 8 | NBIS | $180 COct 23 · 8d | 13× | $1.6M | 1 sold print · Bearish | Midmorning |
| 9 | GDX | $88 COct 23 · 8d | 12× | $403K | 1 bought · 1 sold | Last hour |
| 10 | MU | $980 CNov 20 · 36d | 12× | $17.4M | — | First hour |
Side is read from the quote in force when each sampled print was reported. It does not show who traded or prove a position opened.
What · single contracts ranked by the scanner's score in four windows of the session. A contract qualifies with $150K+ of premium traded so far in the session, open interest of 100+, and a strike from about 3% in the money to 15% out of the money, after pump-and-fade filters. There is no vol/OI floor.
Window figures · Vol/OI and premium cover the selected window only, so they can sit below the session-wide levels above. Vol/OI is the window's volume against the open interest before the session; it does not show who traded or whether positions opened or closed.
Horizons · toggle any of them; the lists show every selected one. Today / this week is 0-7 DTE, Swing is 8-30 DTE, Longer-dated (paid) is 31-90 DTE. The last hour leaves out 0DTE, which expires at the close.
Windows · toggle any of them; the list shows every selected one, ranked together. Midmorning (10:30-11:30) sits inside midday (10:30-1:30), so a contract can appear in both.
vs spot · how far the strike sits from the stock price: + above, − below. A call below the price or a put above it is in the money.
Tip · click a column header to sort.
Sampled side · the tag describes selected exact prints only. Open a row for quote evidence. It does not sign the contract day, identify the customer or prove an opening trade.
Near-term contracts expiring in 0-7 days.
20 contracts · All 1DTE · 0DTE is left out here: it expires at the close.
| Ticker | Side | Time | Chain $ | Stock | Sector | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | ○EWY | $160 C | +2% | 3:38 PM | 6.0× | $1.4M | $162.8M | −2.27% | Other | |
| 2 | ○RKLB | $55 C | −0.5% | 3:32 PM | 5.0× | $343K | $101.2M | −6.42% | Space/Def | |
| 3 | ○DELL | $470 C | −0.6% | 3:33 PM | 1.9× | $1.7M | $336.2M | −6.66% | Other | |
| 4 | ○CRWV | $70 C | +0.4% | 3:32 PM | 1.1× | $1.2M | $171.2M | +6.64% | AI Infra | |
| 5 | ○AMD | $560 C | −0.4% | 3:18 PM | 2.7× | $4.4M | $463.2M | −1.37% | Semis | |
| 6 | ○MU | $925 C | −0.7% | 3:33 PM | 3.0× | $8.7M | $1323.9M | +1.89% | Semis | |
| 7 | ○COIN | $185 C | +0.6% | 3:39 PM | 0.4× | $1.3M | $32.8M | +5.90% | Crypto/Fin | |
| 8 | ○NVDA | $217.50 C | +0.1% | 3:30 PM | 7.4× | $2.7M | $693.1M | −1.61% | Tech Mega | |
| 9 | ○SMH🔥 | $560 C | +0.2% | 3:20 PM | 0.3× | $765K | $909.3M | −0.96% | Semis | |
| 10 | ○MRNA🔥 | $240 C | +1% | 3:41 PM | 1.5× | $705K | $52.3M | +3.86% | Health | |
| 11 | ○GLD | $380 C | −0.7% | 3:28 PM | 0.1× | $336K | $178.0M | +1.74% | Metals | |
| 12 | ○SHOP | $175 C | −2% | 3:41 PM | 0.3× | $313K | $6.9M | +3.27% | Software | |
| 13 | ○NBIS | $185 C | −2% | 3:21 PM | 1.1× | $1.2M | $189.2M | +2.09% | AI Infra | |
| 14 | ○NKE | $37 P | −0.4% | 3:47 PM | 39× | $167K | $9.0M | +5.21% | Consumer | |
| 15 | ○LITE | $900 C | +4% | 3:29 PM | 5.4× | $944K | $74.0M | −2.72% | Semis | |
| 16 | ○ORCL | $135 C | +0.4% | 3:17 PM | 0.6× | $1.2M | $153.0M | +3.00% | Tech Mega | |
| 17 | ○BE | $240 C | +2% | 3:26 PM | 1.4× | $820K | $200.0M | −0.56% | Nuclear | |
| 18 | ○LLY | $1220 C | −3% | 3:15 PM | 0.1× | $422K | $27.6M | +3.55% | Health | |
| 19 | ○WDC | $350 C | −2% | 3:37 PM | 2.3× | $341K | $133.3M | −2.00% | Semis | |
| 20 | ○GEV | $930 C | +0.4% | 3:27 PM | 0.8× | $250K | $18.5M | −1.63% | Industrial |
What · per-ticker rows where 5 or more qualifying contracts of one type (70% call or 80% put share of qualifying premium, $2M type premium) span multiple strikes and expirations. This identifies contract activity, not who bought or sold or whether a position opened.
Floors · per contract: volume 1,000+, premium $200K+, within ±10% of reported spot, 3 to 90 DTE, vol/OI 1.0+ for calls or 1.5+ for puts.
📅 ER · earnings within 5 trading days. The premium floor is adjusted for the higher implied volatility.
Call/put share · the listed type's share of all qualifying call-plus-put premium.
Price move · the underlying's change today, for context; it is not evidence of an opening option position, and the timing of any position change is unknown.
Tip · tap any row for its contracts.
Tickers where 5+ qualifying call or put contracts span several strikes and expirations. Customer side and opening activity are unknown. 11 today.
| # | Ticker | Type | Contracts | Expiries | Strikes | Premium | Call/put share | Price move | Sector |
|---|---|---|---|---|---|---|---|---|---|
| 1 | NVDA | Calls | 38 | 9 | 13 | $135.7M | 87% | −1.80% | Tech Mega |
| 2 | MU | Calls | 31 | 5 | 13 | $115.0M | 87% | +1.35% | Semis |
| 3 | SMH | Puts | 7 | 2 | 6 | $74.2M | 90% | −1.28% | Semis |
| 4 | META📅 ER 6d | Calls | 16 | 2 | 15 | $56.5M | 95% | −0.39% | Tech Mega |
| 5 | CRWV | Calls | 23 | 5 | 11 | $56.4M | 99% | +5.20% | AI Infra |
| 6 | NBIS📅 ER 7d | Calls | 10 | 4 | 6 | $45.7M | 78% | +1.39% | AI Infra |
| 7 | MSTR | Calls | 9 | 2 | 8 | $22.5M | 91% | +3.60% | Crypto/Fin |
| 8 | EWZ | Puts | 6 | 2 | 5 | $28.8M | 97% | −2.32% | Other |
| 9 | TLT | Calls | 10 | 5 | 7 | $10.7M | 74% | +1.65% | Other |
| 10 | IBIT | Calls | 9 | 4 | 9 | $6.4M | 75% | +0.65% | Crypto/Fin |
| 11 | WMT | Calls | 7 | 3 | 5 | $2.8M | 84% | +1.50% | Consumer |
What · today's largest single stock prints, each ranked against its own past decade.
Single · one print during the session or just after the bell, ranked among that ticker's single prints.
MOC · the 4:00 PM closing auction, ranked among that ticker's closing auctions.
Rank · #1 is the biggest of its kind for that ticker in the past decade.
⚡ · in the top 25 of its kind for that ticker in the past decade.
⚡3x · a leveraged or inverse ETF; the line under it gives the exposure in the index or stock it tracks.
Link · 🔗 marks tickers that also appear in today's options flow. Click it to highlight their rows.
| Time | Ticker | Type | Shares @ price | Venue | Exposure | ||
|---|---|---|---|---|---|---|---|
| 16:05 | SBUX | #2⚡ | Single | $343.0M3.54M @ $96.81 | 3.54M @ $96.81 | Dark | |
| Close | RSP | #3⚡ | MOC | $272.2M1.27M @ $215.00 | 1.27M @ $215.00 | ||
| 16:00 | MU | #4⚡ | Single | $1.64B1.76M @ $931.24 | 1.76M @ $931.24 | Dark | |
| 16:02 | MAGS | #5⚡ | Single⚡2x | $100.3M1.38M @ $72.50 | 1.38M @ $72.50 | Dark | ~$200.5M Mag 7 |
| 10:46 | TQQQ | #5⚡ | Single⚡3x | $75.8M1.05M @ $72.10 | 1.05M @ $72.10 | Dark | ~$227.4M Nasdaq 100 |
| 14:40 | LQD | #9⚡ | Single | $366.5M3.54M @ $103.57 | 3.54M @ $103.57 | Dark | |
| 09:11 | IONQ | #9⚡ | Single | $283.3M9.02M @ $31.42 | 9.02M @ $31.42 | Dark | |
| 16:00 | COP | #9⚡ | Single | $170.1M1.20M @ $141.73 | 1.20M @ $141.73 | Dark | |
| 16:00 | KR | #9⚡ | Single | $81.3M1.30M @ $62.71 | 1.30M @ $62.71 | Dark | |
| Close | PATH | #9⚡ | MOC | $79.5M5.80M @ $13.71 | 5.80M @ $13.71 |
SingleOne large printMOCClosing auctionTop 25 in the past decade⚡3xLeveraged or inverse ETFAlso in the options flow: click to highlight
Closed with broad aligned-bull across 4 of 6 pairs and institutional confirmation. Tomorrow inherits a constructive cohort posture.
What · two proxy groups, small-print and large/sweep, built from trade size, premium, delta and sweep flag. They are not identified market participants. The mix score runs from −100 (all puts) to +100 (all calls) and is shrunk toward zero when a group traded little; hover a score for the contract counts. A positive score means more calls, not options bought. Multi-leg prints can add legs to the counts.
Unclassified · the share of the latest window's contracts that fit neither proxy.
Split mix · the two scores have opposite signs. This does not identify who bought or sold.
Mix flip · one or both scores crossed zero since the first hour.
Large/sweep mix, small-print mix · one score is clearly away from zero while the other is near it.
Both call-heavy / put-heavy · both scores have the same sign; this alone does not determine customer exposure.
Low mix score · both scores are near zero. Patterns describe contract activity, not participant identity, customer side or exposure.
Call vs put mix by trade size: −100 all puts, +100 all calls. First hour → latest.
| Ticker | Small-print proxyFirst hour → latest | Large/sweep proxyFirst hour → latest | Pattern |
|---|---|---|---|
| SPY54% unclassified | +88+47 | -1+8 | BOTH CALL-HEAVY· fading |
| SPX87% unclassified | +99+100 | +12+2 | SMALL-PRINT MIX· call-heavy |
| QQQ59% unclassified | +96+53 | +20+11 | BOTH CALL-HEAVY· fading |
| NDX80% unclassified | +75+88 | -17+54 | MIX FLIP· large/sweep proxy |
| IWM50% unclassified | +100+100 | +45+61 | BOTH CALL-HEAVY· steady |
| RUT82% unclassified | +56+11 | +59-6 | SPLIT MIX· widening |
What · option contracts in the large/sweep proxy divided by contracts in the small-print proxy. The proxies are groups by trade size, premium, delta and sweep flag, not identified participants, customer side or exposure.
Typical · the average ratio on a log scale (a geometric mean), so one spike day does not drag it. The dashed lines on each chart are the 21-day and 5-day typical.
Opposite splits · the ETF and its index sit on opposite sides of 1×. That is descriptive, not a customer-side or return signal.
Large/sweep contracts per small-print contract. Above 1× means more large/sweep.
Large/sweep proxy volume is higher on both SPY and SPX.
Large/sweep proxy volume is higher on both QQQ and NDX.
IWM 1.00× vs RUT 1.10×: opposite sides of the 1× proxy-volume line.
What · each cell divides one session's large/sweep proxy contract volume by its small-print proxy contract volume. The proxies are groups by trade size, premium, delta and sweep flag, not identified participants, customer side or exposure.
Typical · the average ratio over the prior sessions on a log scale, so one spike day does not drag it. The size-groups section uses the same figure.
Usual range · one standard deviation either side of typical. Today is compared with that range, not with the typical figure itself: a ticker whose ratio swings a lot can sit well under its typical ratio and still be in range.
Colour · amber is below typical, blue above; darker means further from typical. A missing or zero ratio cannot be scored. A small dot marks a session with a named pattern (see Pattern activity).
Large/sweep-to-small-print proxy volume ratio per session, against each ticker's usual range: amber below, blue above.
IWM was slightly below its usual range today: 1.00× against a typical 1.71×.
What · counts named combinations of two call-versus-put contract-volume scores. Higher or lower means relative to each proxy's own prior history; it need not mean call-heavy or put-heavy in absolute terms. Small-print and large/sweep are size, premium and condition proxies, not identified customers or trade sides. An empty proxy group can have a shrunk score, so a named pattern does not prove both groups traded.
Today · today's pattern, if any, has an amber wash and a Today tag.
Nd ago · the most recent prior occurrence of that pattern.
How often each pattern appeared in the last 30 sessions, relative to each proxy's own history. Today's pattern is tagged Today.
What · SPY, QQQ and IWM observations from a 45-calendar-day lookback, compared with the next 1, 3 and 5 available closes. A pattern compares small-print and large/sweep mix scores with their own histories; it identifies neither customers nor trade side. A zero-volume proxy can still have a shrunk score.
Expected move · the expected move is a lower close after small-print-higher/large-sweep-lower or both-lower patterns, and a higher close after the opposite patterns. “Matched” counts closes that went that way. It is not verified customer direction or a validated forecast. Outcomes can overlap and the lookback may span different options-capture regimes.
Too few to rate · no share or average is shown until at least 10 events have resolved.
Exploratory counts for SPY, QQQ and IWM, not a validated forecast.
The most frequent pattern was Both proxy mix scores lower, seen 5 times: too few events to rate yet.
| Pattern | Times seen | Matched in 1 day | 3 days | 5 days | Avg move in 3 days |
|---|---|---|---|---|---|
| Both proxy mix scores lower | 5 | Too few events to rate yet: 5 so far | |||
| Both proxy mix scores higher | 4 | Too few events to rate yet: 4 so far | |||
