Options Overlay [Pro] IVR IV Skew Delta Exp.mv MurreyMath Expiry

4 de jul.
𝗧𝗵𝗲 𝗳𝗶𝗿𝘀𝘁 𝗿𝗲𝗮𝗹 𝗼𝗽𝘁𝗶𝗼𝗻𝘀 𝗱𝗮𝘁𝗮 𝗶𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗼𝗻 𝗧𝗿𝗮𝗱𝗶𝗻𝗴𝗩𝗶𝗲𝘄, 𝗮𝘃𝗮𝗶𝗹𝗮𝗯𝗹𝗲 𝗳𝗼𝗿 𝗼𝘃𝗲𝗿 𝟭𝟱𝟬+ 𝗹𝗶𝗾𝘂𝗶𝗱 𝗨𝗦 𝗺𝗮𝗿𝗸𝗲𝘁 𝘀𝘆𝗺𝗯𝗼𝗹𝘀.

🔃 Auto-Updating Option Metrics without refresh!
🍒 Developed and maintained by option traders for option traders.
📈 Specifically designed for TradingView users who trade options.

Our indicator provides essential key metrics such as:
✅ IVRank
✅ IVx
✅ 5-Day IVx Change
✅ Delta curves and interpolated distances
✅ Expected move curve
✅ Standard deviation (STD1) curve
✅ Vertical Pricing Skew
✅ Horizontal IVx Skew
✅ Delta Skew
like TastyTrade, TOS, IBKR etc, but in a much more visually intuitive way. See detailed descriptions below.

If this isn't enough, we also include a unique grid system designed specifically for options traders. This package features our innovative dynamic grid system:
✅ Enhanced Murrey Math levels (horizontal scale)
✅ Options expirations (vertical scale)

Designed to help you assess market conditions and make well-informed trading decisions, this tool is an essential addition for every serious options trader!



Ticker Information:
This indicator is currently implemented for more than 150 liquid US market tickers and we are continuously expanding the list:

SPX SPY QQQ TLT GLD

AA AAL AAPL ABBV ABNB AMD AMZN ARKK AVGO AXP BA BABA BAC BIDU BITO BMY BP BYND C CAT CCJ CCL COIN COP COST CRM CRWD CSCO CVNA CVS CVX DAL DBX DIA DIS DKNG EBAY ETSY EXPE F FCX FDX FXI GDX GDXJ GE GM GME GOLD GOOG GOOGL NYSE:GPS GS HOOD IBM IEF INTC IWM JD JNJ JPM JWN KO LLY LOW LVS MA MARA MCD MET META MGM MMM MPC MRK MRNA MRO MRVL MS MSFT MSOS NCLH NDX NET NFLX NIO NKE NVDA ON ORCL OXY PEP PFE PINS PLTR PTON PYPL QCOM RBLX RCL RIOT RIVN ROKU SBUX SHOP SLV SMCI SMH SNAP SQ T TGT TQQQ TSLA TSM TTD TXN U UAL UBER UNG UPS UPST USO V VXX VZ WBA WFC WMT WYNN X XHB XLE XLF XLI XLK XLP XLU XLV XLY XOM XPEV XSP ZM

How does the indicator work and why is it unique?

This Pine Script indicator is a complex tool designed to provide various option metrics and visualization tools for options market traders. The indicator extracts raw options data from an external data provider (ORATS), processes and refines the delayed data package using pineseed, and sends it to TradingView, visualizing the data using specific formulas (see detailed below) or interpolated values (e.g., delta distances). This method of incorporating options data into a visualization framework is unique and entirely innovative on TradingView.

The indicator aims to offer a comprehensive view of the current state of options for the implemented instruments, including implied volatility (IV), IV rank (IVR), options skew, and expected market movements, which are objectively measured as detailed below.

The options metrics we display may be familiar to options traders from various major brokerage platforms such as TastyTrade, IBKR, TOS, Tradier, TD Ameritrade, Schwab, etc.



🟨 𝗗𝗘𝗧𝗔𝗜𝗟𝗘𝗗 𝗗𝗢𝗖𝗨𝗠𝗘𝗡𝗧𝗔𝗧𝗜𝗢𝗡 🟨

🔶 Auto-Updating Option Metrics and Curved Lines

🔹 Interpolated DELTA Curves (16,20,25,30,40)

In our indicator, the curve layer settings allow you to choose the delta value for displaying the delta curve: 16, 20, 25, 30, or even 40. The color of the curve can be customized, and you can also hide the delta curve by selecting the "-" option.

It's important to mention that we display interpolated deltas from the actual option chain of the underlying asset using the Black-Scholes model. This ensures that the 16 delta truly reflects the theoretical, but accurate, 16 delta distance. (For example, deltas shown by brokerages for individual strikes are rounded; a 0.16 delta might actually be 0.1625.)





🔹 Expected Move Curve (Exp.mv)


The expected move is the predicted dollar change in the underlying stock's price by a given option's expiration date, with 68% certainty. It is calculated using the expiration's pricing and implied volatility levels. We chose the TastyTrade method for calculating expected move, as we found it to be the most expressive.

Expected Move Calculation
Expected Move = (ATM straddle price x 0.6) + (1st OTM strangle price x 0.3) + (2nd OTM strangle price x 0.1)

For example, if stock XYZ is trading at 121 and the ATM straddle is 4.40, the 120/122 strangle is 3.46, and the 119/123 strangle is 2.66, the expected move is calculated as follows: 4.40 x 0.60 = 2.64; 3.46 x 0.30 = 1.04; 2.66 x 0.10 = 0.27; Expected move = 2.64 + 1.04 + 0.27 = ±3.9

In this example below, the TastyTrade platform indicates the expected move on the option chain with a brown color, and the exact value is displayed behind the ± symbol for each expiration. By default, we also use brown for this indication, but this can be changed or the curve display can be turned off.




🔹 Standard Deviation Curve (1 STD)

One standard deviation of a stock encompasses approximately 68.2% of outcomes in a distribution of occurrences based on current implied volatility.

We use the expected move formula to calculate the one standard deviation range of a stock. This calculation is based on the days-to-expiration (DTE) of our option contract, the stock price, and the implied volatility of a stock:

Calculation:
Standard Deviation = Closing Price * Implied Volatility * sqrt(Days to Expiration / 365)

According to options literature, there is a 68% probability that the underlying asset will fall within this one standard deviation range at expiration.

If the 1 STD and Exp.mv displays are both enabled, the indicator fills the area between them with a light gray color. This is because both represent probability distributions that appear as a "bell curve" when graphed, making it visually appealing.

Tip and Note:
The 1 STD line might appear jagged at times, which does not indicate a problem with the indicator. This is normal immediately after market open (e.g., during the first data refresh of the day) or if the expirations are illiquid (e.g., weekly expirations). The 1 STD value is calculated based on the aggregated IVx for the expirations, and the aggregated IVx value for weekly expirations updates less frequently due to lower trading volume. In such cases, we recommend enabling the "Only Monthly Expirations" option to smooth out the bell curve.





∑ Quant Observation:

The values of the expected move and the 1st standard deviation (1STD) will not match because they use different calculation methods, even though both are referred to as representing 68% of the underlying asset's movement in options literature. The expected move is based on direct market pricing of ATM options. The 1STD, on the other hand, uses the averaged implied volatility (IVX) for the given expiration to determine its value. Based on our experience, it is better to consider the area between the expected move and the 1STD as the true representation of the original 68% rule.

🔶 IVR Dashboard Panel Rows

🔹 IVR (IV Rank)

The Implied Volatility Rank (IVR) indicator helps options traders assess the current level of implied volatility (IV) in comparison to the past 52 weeks. IVR is a useful metric to determine whether options are relatively cheap or expensive. This can guide traders on whether to buy or sell options. We calculate IVrank, like TastyTrade does.

IVR Calculation:
IV Rank = (current IV - 52 week IV low) / (52 week IV high - 52 week IV low)

IVR Levels and Interpretations:

• IVR 0-10 (Green): Very low implied volatility rank. Options might be "cheap," potentially a good time to buy options.
  
• IVR 10-35 (White): Normal implied volatility rank. Options pricing is relatively standard.
  
• IVR 35-50 (Orange): Almost high implied volatility rank.
  
• IVR 50-75 (Red): Definitely high implied volatility rank. Options might be "expensive," potentially a good time to sell options for higher premiums.
  
• IVR above 75 (Highlighted Red): Ultra high implied volatility rank. Indicates very high levels, suggesting a favorable time for selling options.
  
  

The panel refreshes automatically if the symbol is implemented. You can hide the panel or change the position and size.




🔹IVx (Implied Volatility Index)

The Implied Volatility Index (IVx) displayed in the option chain is calculated similarly to the VIX. The Cboe uses standard and weekly SPX options to measure the expected volatility of the S&P 500. A similar method is utilized to calculate IVx for each option expiration cycle.

For our purposes on the IVR Panel, we aggregate the IVx values specifically for the 35-70 day monthly expiration cycle. This aggregated value is then presented in the screener and info panel, providing a clear and concise measure of implied volatility over this period.
IVx Color coding:
IVx above 30 is displayed in orange.
IVx above 60 is displayed in red

IVx on curve:
The IVx values for each expiration can be viewed by hovering the mouse over the colored tooltip labels above the Curve.

IVx avg on IVR panel:
If the option is checked in the IVR panel settings, the IVR panel will display the average IVx values up to the optimal expiration.





Important Note:

The IVx value alone does not provide sufficient context. There are stocks that inherently exhibit high IVx values. Therefore, it is crucial to consider IVx in conjunction with the Implied Volatility Rank (IVR), which measures the IVx relative to its own historical values. This combined view helps in accurately assessing the significance of the IVx in relation to the specific stock's typical volatility behavior.

This indicator offers traders a comprehensive view of implied volatility, assisting them in making informed decisions by highlighting both the absolute and relative volatility measures.


🔹IVx 5 days change %

We are displaying the five-day change of the IV Index (IVx value). The IV Index 5-Day Change column provides quick insight into recent expansions or decreases in implied volatility over the last five trading days.

Traders who expect the value of options to decrease might view a decrease in IVX as a positive signal. Strategies such as Strangle and Ratio Spread can benefit from this decrease.

On the other hand, traders anticipating further increases in IVX will focus on the rising IVX values. Strategies like Calendar Spread or Diagonal Spread can take advantage of increasing implied volatility.

This indicator helps traders quickly assess changes in implied volatility, enabling them to make informed decisions based on their trading strategies and market expectations.







🔹 Vertical Pricing Skew

At TanukiTrade, Vertical Pricing Skew refers to the difference in pricing between put and call options with the same expiration date at the same distance (at expected move). We analyze this skew to understand market sentiment. This is the same formula used by TastyTrade for calculations.

We calculate the interpolated strike price based on the expected move, taking into account the neighboring option prices and their distances. This allows us to accurately determine whether the CALL or PUT options are more expensive.

• PUT Skew (red): Put options are more expensive than call options, indicating the market expects a downward move (▽). If put options are more expensive by more than 20% at the same expected move distance, we color it lighter red.
  
• CALL Skew (green): Call options are more expensive than put options, indicating the market expects an upward move (△). If call options are priced more than 30% higher at the examined expiration, we color it lighter green.
  

Vertical Skew on Curve:
The degree of vertical pricing skew for each expiration can be viewed by hovering over the points above the curve. Hover with mouse for more information.

Vertical Skew on IVR panel:
We focus on options with 35-70 days to expiration (DTE) for optimal analysis in case of vertical skew. Hover with mouse for more information.

This approach helps us gauge market expectations accurately, providing insights into potential price movements. Remember, we always evaluate the skew at the expected move using linear interpolation to determine the theoretical pricing of options.




🔹 Delta Skew 🌪️ (Twist)

We have a new metric that examines which monthly expiration indicates a "Delta Skew Twist" where the 16 delta deviates from the monthly STD. This is important because, under normal circumstances, the 16 delta is positioned between the expected move and the standard deviation (STD1) line (see Exp.mv & 1STD exact definitions above). However, if the interpolated 16 delta line exceeds the STD1 line either upwards or downwards, it represents a special case of vertical skew on the option chain.

Normal case : exp.move < delta16 < std1
Delta Skew Twist: exp.move < std1 < delta16

We indicate this with direction-specific colors (red/green) on the delta line. We also color the section of the delta curve affected by the delta skew in this case, even if you choose to display a lower delta, such as 30, instead of 16.

If "Colored Labels with Tooltips" is enabled, we also display a 🌪️ symbol in the tooltip for the expirations affected by Delta Skew.

If you have enabled the display of 'Vertical Pricing Skew' on the IVR Panel, a 🌪️ symbol will also appear next to the value of the vertical skew, and the tooltip will indicate from which expiration Delta Skew is observed.






🔹 Horizontal IVx Skew

In options pricing, it is typically expected that the implied volatility (IVx) increases for options with later expiration dates. This means that options further out in time are generally more expensive. At TanukiTrade, we refer to the phenomenon where this expectation is reversed—when the IVx decreases between two consecutive expirations—as Horizontal Skew or IVx Skew.

Horizontal IVx Skew occurs when: Front Expiry IVx < Back Expiry IVx

This scenario can create opportunities for traders who prefer diagonal or calendar strategies. Based on our experience, we categorize Horizontal Skew into two types:

Weekly Horizontal Skew:
When IVx skew is observed between two consecutive non-monthly expirations, the displayed value is the rounded-up percentage difference. On hover, the approximate location of this skew is also displayed. The precise location can be seen on this indicator.





Monthly Horizontal Skew:
When IVx skew is observed between two consecutive monthly expirations, the displayed value is the rounded-up percentage difference. On hover, the approximate location of this skew is also displayed. The precise location can be seen on our Overlay indicator.

The Monthly Vertical IVx skew is consistently more liquid than the weekly vertical IVx skew. Weekly Horizontal IVx Skew may not carry relevant information for symbols not included in the 'Weeklies & Volume Masters' preset in our Options Screener indicator.





If the options chain follows the normal IVx pattern, no skew value is displayed.

Color codes or tooltip labels above curve:

• Gray - No horizontal skew;
  
• Purple - Weekly horizontal skew;
  
• BigBlue - Monthly horizontal skew
  

The display of monthly and weekly IVx skew can be toggled on or off on the IVR panel. However, if you want to disable the colored tooltips above the curve, this can only be done using the "Colored labels with tooltips" switch.

We indicate this range with colorful information bubbles above the upper STD line.


🔶 The Option Trader’s GRID System: Adaptive MurreyMath + Expiry Lines


At TanukiTrade, we utilize Enhanced MurreyMath and Expiry lines to create a dynamic grid system, unlike the basic built-in vertical grids in TradingView, which provide no insight into specific price levels or option expirations.

These grids are beneficial because they provide a structured layout, making important price levels visible on the chart. The grid automatically resizes as the underlying asset's volatility changes, helping traders identify expected movements for various option expirations.

The Option Trader’s GRID System part of this indicator can be used without limitations for all instruments. There are no type or other restrictions, and it automatically scales to fit every asset. Even if we haven't implemented the option metrics for a particular underlying asset, the GRID system will still function!





🔹 SETUP OF YOUR OPTIONS GRID SYSTEM

You can setup your new grid system in 3 easy steps!

STEP1: Hide default horizontal grid lines in TradingView
Right-click on an empty area of your chart, then select “Settings.” In the Chart settings -> Canvas -> Grid lines section, disable the display of horizontal lines to avoid distraction.



SETUP STEP2: Scaling fix
Right-click on the price scale on the right side, then select "Scale price chart only" to prevent the chart from scaling to the new horizontal lines!



STEP3: Enable Tanuki Options Grid
As a final step, make sure that both the vertical (MurreyMath) and horizontal (Expiry) lines are enabled in the Grid section of our indicator.




You are done, enjoy the new grid system!


🔹 HORIZONTAL: Enhanced MurreyMath Lines

Murrey Math lines are based on the principles observed by William Gann, renowned for his market symmetry forecasts. Gann's techniques, such as Gann Angles, have been adapted by Murrey to make them more accessible to ordinary investors. According to Murrey, markets often correct at specific price levels, and breakouts or returns to these levels can signal good entry points for trades.

At TanukiTrade, we enhance these price levels based on our experience, ensuring a clear display. We acknowledge that while MurreyMath lines aren't infallible predictions, they are useful for identifying likely price movements over a given period (e.g., one month) if the market trend aligns.

Our opinion: MurreyMath lines are not crystal balls (like no other tool). They should be used to identify that if we are trading in the right direction, the price is likely to reach the next unit step within a unit time (e.g. monthly expiration).


One unit step is the distance between Murrey Math lines, such as between the 0/8 and 1/8 lines. This interval helps identify different quadrants and is crucial for recognizing support and resistance levels.

Some option traders use Murrey Math lines to gauge the movement speed of an instrument over a unit time. A quadrant encompasses 4 unit steps.

Key levels, according to TanukiTrade, include:





Of course, the lines can be toggled on or off, and their default color can also be changed.


🔹 VERTICAL: Expiry Lines


The indicator can display monthly and weekly expirations as dashed lines, with customizable colors. Weekly expirations will always appear in a lighter shade compared to monthly expirations.

Monthly Expiry Lines:
You can turn off the lines indicating monthly expirations, or set the direction (past/future/both) and the number of lines to be drawn.

Weekly Expiry Lines:
You can display weekly expirations pointing to the future. You can also turn them off or specify how many weeks ahead the lines should be drawn.

Of course, the lines can be toggled on or off, and their default color can also be changed.

TIP: Hide default vertical grid lines in TradingView

Right-click on an empty area of your chart, then select “Settings.” In the Chart settings -> Canvas -> Grid lines section, disable the display of vertical lines to avoid distraction. Same, like steps above at MurreyMath lines.




🔶 ADDITIONAL IMPORTANT COMMENTS

- U.S. market only:
Since we only deal with liquid option chains: this option indicator only works for the USA options market and do not include future contracts; we have implemented each selected symbol individually.

- Why is there a slight difference between the displayed data and my live brokerage data? There are two reasons for this, and one is beyond our control.

- Brokerage Calculation Differences:
Every brokerage has slight differences in how they calculate metrics like IV and IVx. If you open three windows for TOS, TastyTrade, and IBKR side by side, you will notice that the values are minimally different. We had to choose a standard, so we use the formulas and mathematical models described by TastyTrade when analyzing the options chain and drawing conclusions.

- Option-data update frequency:
According to TradingView's regulations and guidelines, we can update external data a maximum of 5 times per day. We strive to use these updates in the most optimal way:
(1st update) 15 minutes after U.S. market open
(2nd, 3rd, 4th updates) 1.5–3 hours during U.S. market open hours
(5th update) 10 minutes before market close.
You don’t need to refresh your window, our last refreshed data-pack is always automatically applied to your indicator, and you can see the time elapsed since the last update at the bottom of your indicator.


- Skewed Curves:
The delta, expected move, and standard deviation curves also appear relevantly on a daily or intraday timeframe. Data loss is experienced above a daily timeframe: this is a TradingView limitation.

- Weekly illiquid expiries:

Especially for instruments where weekly options are illiquid: the weekly expiration STD1 data is not relevant. In these cases, we recommend checking in the "Display only Monthly labels" checkbox to avoid displaying not relevant weekly options expirations.

-Timeframe Issues:
Our option indicator visualizes relevant data on a daily resolution. If you see strange or incorrect data (e.g., when the options data was last updated), always switch to a daily (1D) timeframe. If you still see strange data, please contact us.

Disclaimer:
Our option indicator uses approximately 15min-3 hour delayed option market snapshot data to calculate the main option metrics. Exact realtime option contract prices are never displayed; only derived metrics and interpolated delta are shown to ensure accurate and consistent visualization. Due to the above, this indicator can only be used for decision support; exclusive decisions cannot be made based on this indicator. We reserve the right to make errors.This indicator is designed for options traders who understand what they are doing. It assumes that they are familiar with options and can make well-informed, independent decisions. We work with public data and are not a data provider; therefore, we do not bear any financial or other liability.

20 de jul.

Notas de Lançamento

VERSION 2 changelog:

* modify Exp.move and STD1 curves default visibility to false
* Based on your votes and feedback, we have expanded our list with the following 13 USA market tickers:

1. EEM: iShares MSCI Emerging Markets ETF
   
2. UNH: UnitedHealth Group Incorporated
   
3. SCHW: The Charles Schwab Corporation
   
4. PNC: The PNC Financial Services Group, Inc.
   
5. USB: U.S. Bancorp
   
6. AXP: American Express Company
   
7. HAL: Halliburton Company
   
8. TFC: Truist Financial Corporation
   
9. CLF: Cleveland-Cliffs Inc.
   
10. ENPH: Enphase Energy, Inc.
    
11. STX: Seagate Technology Holdings PLC
    
12. VRT: Vertiv Holdings Co
    
13. CMG: Chipotle Mexican Grill, Inc.
    

Now we have more than 160+ US market symbols in our Options Overlay [Pro] indicator!

Thank you for your participation and valuable input!

4 de ago.

Notas de Lançamento

As a result of this week's community vote, welcome new members :
SOFI és ARM

So we now have 164 US market symbols in our Option Overlay PRO indicator! 🥳

2 de set.

Notas de Lançamento

🔶 【 v3 Update Release 】🔶

🔹 EXPIRY TABLE 🔹

By popular demand, we’ve added the Expiry Table to the Options Overlay indicator. Now, you can see the IVx values for each expiration in a tabular format. Additionally, for those who prefer diagonal and calendar spreads, the table also includes IVx skew between expirations.

The settings are fully customizable: you can choose how many expirations you want to display, where the expiry table should be positioned, and whether you want to see weekly expirations. You can also configure which columns to show, as well as toggle between Standard Expected Move and Binary Expected Move.



🔹 TIME SPREADS 🔹

In the Expiry Table, when viewing consecutive options expirations, if the next expiration’s IV is lower than the previous one, the difference is displayed, and on hover, you can see the exact value. This helps you easily identify the best spots for timespread trades, allowing you to spot front and back month expirations for your calendar or diagonal spreads at a glance.

🔹 CALL vs. PUT PRICING SKEW 🔹

Previously, our primary metric for put/call pricing skew was displayed on the IVRank Dashboard and was shown for the optimal ~45DTE expiration. It indicated how much more expensive CALL options were compared to PUT options at the same distance from the strike price, providing insight into the market’s pricing of movements.

Now, this pricing skew metric has been moved into the Expiry Table, displaying skew values for each expiration. For example, in the SMH options chain above, the skew shows that the market participants are pricing downward movement until September, while from October, a bullish movement is indicated by the call skew.

This can help you select the most favorable expiration from a pricing perspective.

• For instance, if selling a naked PUT, the higher the PUT skew, the higher the premium you receive compared to other expirations.
  
• Conversely, for a long CALL, you might want to find an expiration where the call skew is relatively low to pay less, even if just by a few cents, compared to expirations with higher call skew.
  

🔹 Expected Move Definitions Clarification 🔹

In this update, we’ve worked to clarify the terminology used for our metrics. The term "expected move" is used broadly in options trading, even among educators, often causing confusion. We have refined the help texts and labels to prevent misunderstandings.

Previously, confusion arose because all expected moves (STD1, OTM delta 16, and general expected move) were labeled as 68% probability ranges. Understanding the differences between them is crucial, so here’s an overview:

The differences between the three values are most evident in cases like VXX, as shown in the examples.

1. Binary Event Risk:
   Defined as an upcoming announcement with uncertain outcomes. These events are expected by the market and are accompanied by corresponding volatility, aligning with the overall market uncertainty.
   •
   
2. Standard Expected Move (STD1):
   Used when there is no foreseeable binary event risk. According to options literature, there is a 68% probability that the underlying asset will fall within this one standard deviation range at expiration. This calculation is based on the DTE of our option contract, the stock price, and the implied volatility for the given expiry:
   Standard Deviation = Closing Price * Implied Volatility * sqrt(Days to Expiration / 365)
   •
   
3. Binary Expected Move:
   Used when there is anticipated binary event risk or the expiration is very near-term. In these cases, the general IVx can increase disproportionately, making the standard expected move not truly representative of the 68% range. It is calculated using the TastyTrade method:
   Binary Expected Move = (ATM straddle price x 0.6) + (1st OTM strangle price x 0.3) + (2nd OTM strangle price x 0.1)
   This formula, taking ATM pricing into account, provides a clearer picture of what the market is pricing before a significant event.
   NOTE: Binary Expected move always has a narrower range than the standard expected move.
   
   •
   
4. Implied Move: The Binary Expected Move value for the nearest expiration. The implied move represents how much the price is expected to move over a period of time, usually until the end of the current week, and is often referenced before known binary events like earnings reports.
   •
   
5. 68% Directional Probability Range by OTM 16 PUT & CALL Deltas: Defines the expected movement range using the distance between 16 OTM delta PUTs and CALLs. These separately have an 84% chance of expiring ITM. Typically, this range falls within the STD1, but if it deviates, it signals a delta skew twist, marked in the Expiry Table with a 🌪️ icon, indicating significant pricing shifts that should not be ignored when opening new options positions.
   Delta-neutral traders, such as those using strangle strategies like those at TastyTrade, frequently rely on these metrics.
   

🔹 Symbol Additions and Removals 🔹

Due to delisting, symbol GPS has been removed.
Driven by our weekly Reddit community poll, the following symbols have been added to the TanukiTrade Options Overlay indicator: AMAT, NU, DE, HD.

For now, we have 165 U.S. market symbols implemented in our watchlist: https://www.tradingview.com/watchlists/156511666/

9 de set.

Notas de Lançamento

CHANGELOG Version v3.1 UPDATE

* Based on popular demand, the expiry table can now display ranges, eliminating the need to calculate, for example, an expected move.
* Delta distance selection has been moved to the expiry table, as we introduced a new column to display the selected delta. The delta curve will display the delta that you select in the expiry table.
* We added color coding to the pricing skew to better highlight the differences. For example, a -5<x<5% pricing skew is not considered a high value, but it will still be displayed as a signed number, just not highlighted in color—it will simply appear in gray.
* Bug fixes and clarifications to some tooltips.

9 de set.

Notas de Lançamento

fix