SKEWAPEX

⚠ Cached BS

Account

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IV Surface Open the per-expiry volatility surface room. Open

SPXW $—

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● Expiration Date —

Key Levels (Position)

Regime

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State —

Gamma Flip

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Distance —

Max Pain

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Distance —

Market Price Chart dynamic range ━ Vanna (Live · Profile Only)

Call GEX (+) Put GEX (−) CW PW FLIP VT SPOT SHORT LEG LONG LEG

Structure Anchor Axis Radar

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SPOT

FLIP

Waiting for GEX profile…

Options Flow (1-min Volume Δ · call vs put · gray = unstable sample) —

Call Volume Δ Put Volume Δ Unstable sample —

Active Position Manager

Expiry

NET DELTA

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NET THETA

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NET GAMMA

—

Portfolio Groups

Grouped by ticker + expiry

Group	Legs	Cur $	Net Delta	Net Gamma	Net Theta	Net Vega
No grouped positions yet.

Leg	Right	Strike	Dir	Qty	Entry $	Delta	Gamma	Theta	Vega
No positions. Click BID (Sell) or ASK (Buy) in the chain.

Expected Move

±—pt

Straddle — · 16Δ — · IV —

IV Intel

ATM IV (Live)

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Range: — / —

Rank — · Percentile —

VIX Index

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1015203040+

Total GEX

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Skew Monitor

Skew monitor waiting for chain…

RR25 —

BF25 —

Exp — Quality —

Data Quality

— Confidence —

Source—

Chain Rows—

Spot Age—

Chain Age—

IV Stream—

GEX Coverage—

Issues: —

Methodology

Live Insights

Volatility Smile

LIVE

Waiting for smile data…

Context filter, not a trigger. Confirm with liquidity and walls.

How we compute this

Same-expiry IV vs strike is plotted on x = log(K/F) so curves are comparable across days. Left wing reflects put-tail risk premium; right wing reflects call-tail premium.

Volatility Skew (RR25 / BF25)

LIVE

Waiting for RR25 / BF25…

React only to regime shifts (e.g., z-score ≥ 2); otherwise stay size-neutral.

How we compute this

RR25 = 25Δ call IV minus 25Δ put IV — directional skew between wings. BF25 = wings-to-ATM IV gap — fat-tail/butterfly curvature. Anchor expiry is picked once per cache cycle and held until chain rolls.

Term Structure

LIVE

Waiting for term-structure data…

Backwardation + high IV = event risk; cut size and tighten risk.

How we compute this

ATM IV sampled at 7D and 60D target tenors, mapped from real expiries inside a ±5D window. Slope & shape classify as CONTANGO / BACKWARDATION / FLAT. Missing either anchor degrades the reading to INSUFFICIENT.

Execution Playbook

LIVE

Waiting for drift / DQ state…

If Drift unstable or DQ not green, halve size or stand down.

How we compute this

Three independent quality gates: Drift (recent regime switch rate + IV range) · Data Quality (freshness, fill, source grade) · DQ confidence (per-ticker). This card is a data-quality gate, not a trade trigger.

Concepts & Formulas

Advanced Runtime Formulas and Assumptions

EM Layers

EM Layer A · Market-derived

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EM Layer B · Market-derived

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EM Layer C · Model-estimated

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Regime Inputs

State Engine Inputs

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State Decomposition

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State Thresholds

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Scenario Inputs

Assumptions + Factors

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Scenario Thresholds

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Vol Core

Term Structure

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Skew 25D

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Smile

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Model Drift

Drift Monitor

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Data Source

Rates / Fallbacks

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Vol Core

Term Structure

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slope_abs — · slope_rel —

Anchor Expiry

—

quality —

RR25

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IV(25ΔC) - IV(25ΔP)

BF25

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0.5*(IV25ΔC + IV25ΔP) - IV50Δ

Term structure chart waiting for points…

Smile X / IV Points

No smile points.

Smile —

Smile chart waiting for points…

Vol Surface 2D · X = log(K/F) · Y = DTE · color = IV%

Vol surface waiting for points…

Key Levels

Regime

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State: —

Signal consistency: —

Scenario Split (Conditional)

NORMAL

CHOP PATH

BREAK PATH

CHOP PATH 50.0% BREAK PATH 50.0%

Gamma Flip

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Total Vanna ∂Δ/∂σ

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IV hedge exposure

Put Wall

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Max Put OI

Max Pain

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Call Wall

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Max Call OI

Put %

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of total OI

P/C Ratio

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Call %

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of total OI

Model Drift

State

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Regime Switches (60m)

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IV Range (60m)

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GEX Shift (15m)

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Heatmap

Selling

Buying

Option Chain —

Calls							Strike	Puts
OI	IV%	Delta	Theta	Vega	Bid	Ask		Bid	Ask	Vega	Theta	Delta	IV%	OI
Waiting for data…

Payoff Dashboard

Waiting for positions…

Net Credit / Debit

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Max Loss

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Max Profit

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Breakevens

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Risk State

NA NA

Overlay Anchors

Flip — · CW — · PW —

GEX Density — · IV% —

Build a strategy in APM to render payoff.

DATE: Realtime

0.0d

RANGE

±2.5%

IMPLIED VOLATILITY MULTIPLIER

x1.00

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