AlphabotPro Academy — Options & Orderflow Glossary

Price & VWAP

Anchored VWAP

AVWAP

The volume-weighted average price anchored from the session open.

Unlike a simple moving average, AVWAP weighs each price by how much volume traded there. It resets every day at the open, making it the true 'fair value' reference for the session. Price above AVWAP = buyers in control. Price below = sellers in control.

Live Value

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VWAP Slope

SLOPE

How fast the AVWAP is rising or falling per 1-minute bar.

Slope = AVWAP(now) − AVWAP(prev bar). A positive slope means the fair value is rising. A steep positive slope (≥ 1.5 pts/bar) combined with price above AVWAP is a key entry signal. Flat slope = no conviction.

Live Value

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Delta Imbalance

ΔIMB

The ratio of aggressive buying vs selling in each 1-minute bar.

Every trade is either initiated by a buyer (hitting the ask) or a seller (hitting the bid). Delta = Ask Volume − Bid Volume. Positive delta = buyers more aggressive. Values near +1.0 = strong buying pressure, near −1.0 = strong selling.

Options & GEX

Net Gamma Exposure

NET GEX

Total dollar gamma dealers must hedge across all NQ options, measured in billions.

Options market makers delta-hedge constantly. Positive GEX = they dampen volatility (mean-reversion). Negative GEX = they amplify moves (trend environment).

Live Value

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GEX Regime

REGIME

Whether the market is currently in a positive or negative gamma environment.

Positive Gamma: dealers dampen moves, expect tight ranges and mean-reversion. Negative Gamma: dealers amplify moves, expect sustained trends and volatility.

Live Value

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Call Wall

The strike price with the highest concentration of call open interest.

Dealers short calls must sell the underlying as price rises into the Call Wall — creating natural resistance. Breakout above = squeeze potential.

Live Level

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Put Wall

The strike price with the highest concentration of put open interest.

Dealers long puts must buy as price falls to the Put Wall — acting as a natural floor. Below the Put Wall, protection disappears and moves can accelerate.

Live Level

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Gamma Flip

The price level where net dealer gamma switches from positive to negative.

Above Gamma Flip = low volatility, mean-reverting. Below Gamma Flip = high volatility, trending. Crossing this level is one of the most significant shifts in market behavior.

Live Level

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Put/Call Ratio

PCR

The volume of puts traded divided by the volume of calls.

PCR > 1.0 = high fear, contrarian bullish. PCR < 0.7 = high complacency, contrarian bearish. Extremes are the most useful as contrarian signals.

Live Value

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IV Rank

IVR

Where current implied volatility sits relative to its 52-week range.

IVR > 50: expensive options, sell premium. IVR < 20: cheap options, moves may be underpriced. High IVR before events often leads to a volatility crush.

Live Value

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VIX — Volatility Index

VIX

The CBOE Volatility Index — the market's 30-day implied volatility expectation for the S&P 500.

VIX < 15: calm, mean-reverting. VIX 15–25: normal — directional trades start working. VIX > 25: fear, momentum regime, dealers short gamma. VIX spikes often mark short-term bottoms.

Live Value

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VIX Divergence

Sentiment

VIX and NQ price normally move in opposite directions. A divergence occurs when they move the same way — signalling hidden fear or hidden strength.

NQ↑ + VIX↑ = Bearish Div | NQ↓ + VIX↓ = Bullish Div

Bearish NQ rallies but VIX also rises — options traders buying protection into strength. Fade the move.

Bullish NQ drops but VIX also falls — no real fear behind the sell-off. Mechanical move, likely to reverse.

Live Signal

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Big Divergence

Sentiment · Structural

A structural divergence detected at confirmed swing highs and lows. Stronger signal than short-term div — requires price to make a new swing extreme while VIX moves the same direction instead of opposite.

Swing High: NQ↑↑ + VIX↑ = Bearish | Swing Low: NQ↓↓ + VIX↓ = Bullish

vs Short-Term Short-term div fires on any 15-min momentum mismatch (purple arrows). Big div only fires at confirmed swing points — much rarer, higher conviction.

Live Signal

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CVD Divergence

Orderflow · 30 min

CVD

CVD = running sum of (buy vol − sell vol). A divergence means price and aggressive order flow disagree — revealing exhaustion or absorption at key levels.

Uptrend Exhaustion Price HH but CVD HL — buyers fading. Expect reversal down.

Uptrend Absorption CVD HH but price HL — buy pressure absorbed by limit sellers. Bearish.

Downtrend Exhaustion Price LL but CVD HL — sellers fading. Expect bounce.

Downtrend Absorption CVD LL but price HL — sell pressure absorbed by limit buyers. Bullish.

Live Signal

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Orderflow & Volume

Volume Profile

A histogram showing how much real volume traded at each price level.

POC = price with most volume (magnet). Value Area = range of 70% of all volume. Built from real tick data in 0.25pt buckets.

Big Trade Radar

BTR

Detects and plots individual trades above your size threshold directly on the chart.

Green circle = aggressive buyer at ask. Red circle = aggressive seller at bid. Size scales with volume. Set your own threshold — default 50 contracts.

Flow Score

FLOW

A composite score summarizing the directional bias of options order flow.

Combines NQ delta imbalance + QQQ options flow + NDX put/call z-score. Positive = bullish. Negative = bearish. Core signal of the FLOW strategy.

Live Value

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Learn the edge.