S&P 500 Stock Market Gamma Trading Levels Based on Options Open Interest
The SpotGamma HIRO Indicator analyzes millions of options trades daily, monitoring every options trade taking place. Here are a few popular stocks and indices showing how options trades impacted markets in real time.
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HIRO translates millions of individual options trades and their estimated impact on the markets into easy-to-read tables and graphs.
The above SpotGamma HIRO Indicator charts display the visual representation of this hedging pressure by taking in every trade in real time. There is no lag time as these lines are driven by real-time prices.
Movement upward reflects a bullish or positive hedging pressure, while movement downward reflects a bearish or negative hedging pressure.
You can see the left y-axis reflects the current stock price, the x-axis represents time, and the right y-axis shows the "HIRO signal" and reflects the estimated hedge impact in dollar terms.
If the HIRO signal is a positive number, Market Makers and options dealers have to buy stock as a result of the options activity. If this is a negative number, that means that Market Makers and options dealers have to sell stock as a result of the options activity.
The legend below the chart indicates that the current price is represented in black, and the total HIRO signal in pink.
For the live HIRO product, if you run your cursor over the HIRO line, a pop-up box will reveal the numerical hedging pressure relative to time across the chart.
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