Analyzes options market structure, volatility term structure, gamma exposure, put/call ratios, skew, and unusual options activity. Options markets are leading indicators — they often price in moves before they happen in the underlying. Run early in pipeline before macro and segment analysis.
Options markets reveal institutional hedging, speculative bets, and gamma dynamics that can force dealer hedging flows and cause accelerated price moves. This skill reads the options market as a forward-looking intelligence source. Run before segment analysis.
docs/ops/data-sources.md (options/vol sources)Web fetch: use
defuddle parse <url> --mdinstead of WebFetch for any options data page, analysis article, or vol commentary URL. Not for API endpoints,.json, or.mdfiles.
Collect: Total CBOE P/C, SPY P/C, QQQ P/C, equity-only P/C and compare vs recent history.
Assess VIX level + term structure (contango vs backwardation) + VVIX if available.
Assess tail-hedging premium.
Determine positive vs negative gamma, gamma flip level, and gamma walls.
Determine max pain level for weekly expiration and proximity.
Check broad and sector IV, IV rank/percentile where available.
Scan for notable sweeps/blocks and infer hedging vs speculation.
### 🎰 OPTIONS & DERIVATIVES INTELLIGENCE
**Overall Options Sentiment**: [Hedged / Neutral / Complacent / Aggressive Bullish / Extreme Fear]
**Volatility Complex:**
- VIX: X.X | [Interpretation]
- Term structure: 1M: X | 3M: X | 6M: X → [Contango/Backwardation]
- SKEW: X — [Tail hedging elevated/moderate/low]
**Put/Call Ratios:**
- Total: X.XX | SPY: X.XX | Equity-only: X.XX
**Gamma Exposure (GEX):**
- SPX GEX: [Positive/Negative]
- Gamma flip: XXXX | Key walls: support XXXX / resistance XXXX
**Max Pain**: SPX/SPY weekly max pain = XXXX
**Implied Volatility**: SPY 30d IV: X% | IV Rank: X
**Unusual Options Activity:**
- [Name/ETF]: [trade] — [what it implies]
**Implication for Positioning**:
[2-3 sentences on near-term risk and what options structure implies.]