Current read
Initial premium read
Coverage is still being wired
48quality score
Planned · Option chain pendingPremium Weather Detail
Premium Quality Read
This page expands the Seller Premium card: whether SPY option premium is thick, clean, and compensated enough after cushion, gamma, theta, and tail demand.
Core four
The homepage card shows the four fastest reads first.
They are useful for a first pass, but the full conclusion waits for the option chain to cover cushion, open interest, gamma, and theta cleanly.
SPY Put IVNormal25-65D seller zonePlanned ·
Seller CushionCoverage buildingBreakeven roomPlanned ·
Gamma HeatCoverage buildingATM gammaPlanned ·
Tail DemandNormalSKEWSnapshot ·
Six-factor breakdown
Premium quality is not one number; it is a trade-off between income, cushion, movement, and tail risk.
SPY Put IVNormal
Shows whether SPY put premium is thick enough to deserve attention, before judging whether it is clean.
Planned ·Seller CushionCoverage building
Checks how much room exists between spot price and the weighted seller-zone breakeven.
Planned ·Put/Call OICoverage building
Reads whether open interest is leaning toward protection demand or calmer positioning.
Planned ·Gamma HeatCoverage building
Hot gamma can make a rich premium less usable because price can move into the seller faster.
Planned ·Theta QualityCoverage building
Compares time decay against vega risk. Better theta quality means the carry is cleaner.
Planned ·Tail DemandNormal
SKEW shows how much the market is paying for far-tail protection.
Snapshot ·How to read it
A richer premium becomes useful only when the risk behind it is explainable.
IV can be high because risk is priced, or because the path is unstable.
Seller cushion tells whether premium is paired with enough room before the breakeven zone.
Hot gamma can turn a fat-looking premium into a fragile one.
Theta quality asks whether time decay is worth the vega and movement risk being carried.
What improves the read
Cleaner premium needs better coverage and calmer movement risk.
- Seller Cushion connects cleanly and shows enough breakeven room.
- Gamma Heat cools while SPY Put IV remains paid.
- Theta Quality improves without tail demand jumping.
- Put/Call OI stops leaning too heavily toward protection demand.
What downgrades the read
A bigger premium can still be low quality when it is paying for jump risk.
- Option-chain coverage stays partial, especially cushion, gamma, or theta.
- Gamma Heat rises faster than the premium score.
- Tail Demand jumps, suggesting the market is paying up for crash protection.
- IV rises because the tape is unstable rather than because compensation is clean.
Source confidenceTap to inspect data freshness, delay labels, and pending option-chain fields.
Source confidence
Separate delayed Cboe reads, Massive option-chain fields, and Miss Lemon formula outputs.
Further reading