Options Flow Guide & Analytics
Multi-source options market structure analysis. Institutional options positioning reveals expected volatility, directional bias, and key price levels that large players are hedging around. Now aggregates Deribit alongside Equity Proxies (MARA, COIN, MSTR, HOOD).
Put/Call Ratio Gauge
Overview
A gauge showing the current Put/Call OI ratio across all aggregated expiries (BTC + Equity Proxies). Ratio > 1 = more puts outstanding than calls (bearish hedging). Ratio < 1 = more calls outstanding (bullish positioning). Green zone: 0.5-0.8. Red zone: >1.2.
How to Read
Contrarian indicator at extremes. Very high P/C ratio (>1.5) = too much bearish hedging = market often reverses up. Very low P/C ratio (<0.4) = overconfident calls = market often corrects.
IV Smile Curve (Aggregated 30D)
Overview
Implied Volatility plotted vs strike moneyness from -30% (OTM Puts) to +30% (OTM Calls). The dashed baseline shows 30-day historical volatility. Blends crypto-native IV with traditional finance equity proxies.
How to Read
Steeper left tail (OTM Puts high IV) = institutions buying downside protection. A right-skewed smile = call premium elevated = bullish institutional hedging.
Top Open Interest Strikes Table
Overview
Ranked table of the 10 strike prices with highest combined OI (calls + puts). Shows Strike, Call OI ($M), Put OI ($M), Net Skew, and Expiry Date. These are the price levels institutional options writers are most concentrated around.
How to Read
Large call OI at a strike = resistance target; dealers short gamma above that level will sell spot to hedge. Large put OI = support; dealers short gamma below will buy spot to hedge.
IV Term Structure
Overview
A stepped-curve mapping ATM (At-The-Money) Implied Volatility across upcoming Expiry Dates to detect contango or backwardation skews.
How to Read
Normal structure (Contango) slopes upward: long-term IV > short-term IV. Inverted structure (Backwardation) slopes downward: short-term IV > long-term IV, indicating immediate market fear.
