Options
Options is a data page on the Markets desk of Glassbox Auditing. The whole Options desk inside Markets: the open bets by strike and expiration, the day's option volume spikes, each company's options against its own history and dealer gamma, behind one switcher. Options show where traders pay for protection or for upside, which feeds the VIX and how far prices are expected to move.
What does this page lead to?
- Fear Gauge (VIX) (Briefing): Demand for S&P 500 puts as portfolio protection raises their implied volatility, and the VIX is computed from those option prices, so heavier index hedging tends to lift it. (moves the same way; same day; economy scale) Source: Cboe VIX index data (daily history and delayed quotes).
- Company Reports (Calendar): A company's option prices tend to rise into its results date, when a bigger move is expected, and drop right after it; Company Reports gives the dates. (either way, depending on the cause; days before each report; company scale) Source: Robinhood options market data (OPRA).
- Stock by Stock (Markets): Dealers on the other side of customers' option trades hedge in the underlying shares, so a burst of option volume in a stock often adds to its share volume and can extend or damp its move. (either way, depending on the cause; same day; company scale) Source: Robinhood options market data (OPRA).
- Risk Monitor (Briefing): When near-dated index options price higher than three-month ones, the VIX curve inverts, and the Risk Monitor's VIX curve gauge reads Stressed while it stays inverted. (moves the same way; same day; economy scale) Source: Cboe VIX index data (daily history and delayed quotes).
- Federal Reports (Calendar): Index options that expire just after a CPI, jobs or Fed date tend to cost more, since those releases move the S&P 500 more than ordinary days; Federal Reports gives the dates. (either way, depending on the cause; days before each release; economy scale) Source: Robinhood options market data (OPRA).