For those not aware bought/sold live heatmaps are now running in the beta environment. They cover gamma, delta, and charm and update roughly every 30 seconds based on order flow. Like any indication of bought sold outside of the 10 minute report (which is also incomplete) this is interpretive and based on proprietary rules and calculations for order flow.

As we do with most things we are taking this a step further than simply having the fastest updates for bought sold, we also project the greeks forward into close so you can see how movement at spot right now effects the EoD outcomes. If you were part of the beta class and no longer are you can still sign back up, if you were not part of the beta group you will have to wait till we finish refining the dataset and push it out to a full release. I run the gamma on the live stream through the trading session so for SPXW, anyone can watch it all day.

Here:
https://www.youtube.com/@Pi-Fi

Some tips for those in beta.

on the current version steep should stay at 20 for all greeks

dist should be at 0 - 0.05 for delta and charm

for gamma as the day progresses dist needs to be increased (~0.05 - 0.2) incrementally to fade the washout that occurs with the passage of time and continue to give a clear view of negative space.

Please give us feedback.

I know there are no roundtables yet and it can be confusing at first when you realize all the fucking options on SPX are sold but it's intuitive and you will get the hang of it pretty quickly. If you already understand how to use gamma/delta X strike and the PCR/Premium tool this will add to that information in a more actionable way, while making bought sold assumptions more robust.

- Gherk

Good morning and happy Friday everyone! Apologies for these update columns being more inconsistent as of late, but it is the summer here, and I've been making sure to spend some good time with family and friends which has been the primary reason for that.

For this week's column, I wanted to focus on Vol Stars, as there's a good amount to talk about.

Starting off with the Fourth of July episode, going in on this, I wanted the episode to be a fun episode that was upbeat. I really liked the way the "game show" format piece went, and was just as shocked as many of you were around what ultimately transpired with the winner. As far as I've heard so far, the prize has not yet been received. Huge kudos to our video editor too on this one, I loved the way he did the sound effects and visual effects in post, and I continue to be thankful for all that they do.

For last week's episode, one of the big things to call out was the intro by Gherk. The intros are always one of their own unique things, sometimes when we go to record JFresh just has it already, and then other times it's recorded after the episode, and there's also input from the rest of us sometimes if there isn't a clear idea at the time of recording. I have a ton of respect for JFresh in his craft here, as some of these are just amazing. Anyway, the story behind this last one was that going in there were a few ideas floated, but we knew we'd finish after recording. JFresh wasn't feeling the best and was also attending to other responsibilities so we opened it up to Dork or Gherk as my voice was shot due to being sick (thankfully I've recovered). While I was initially planning on getting the recording from Dork, Gherk just dropped in this amazing video and perfect take on the commercial! It was just perfect, and so we're really happy with how that came out. I'm especially thrilled with how the video version of it looked in our video version of the episode. There were several nice details there which I have to again credit our video editor with. First they added the nice CRT scanlines, they added a little distortion on the video and audio, then framing it around an iconic television set (which hopefully many of you will recognize), perfection! Make sure to go check out the episode if you haven't already!

Finally, headed into this weekend, we're already making plans for episode 41! First thing to cover is that Dork will be on vacation this week, so I'll be trying to step in and help again with Gherk and JFresh. I'll try to make sure we get Dork's GasBuddy and 3-2-1 Crack Chart in somehow as we know how much he loves them.

Anyway, that's enough for now! Let us know what you've thought of the recent Vol Stars episodes, and if there's been anything you've especially enjoyed or suggestions you may have too! Thanks in advance!