Current read
Initial premium read
Coverage is still being wired
48quality score
Planned · Option chain pendingPremium Weather Detail
Premium Quality Read
A live read on SPY premium quality: premium level, cushion, gamma, theta, and tail demand.
Core four
The homepage card shows the four fastest reads first.
Use them for the first pass. Cushion, open interest, gamma, and theta set the final grade.
SPY Put IVNormal25-65D seller zonePlanned ·
Seller CushionCoverage buildingBreakeven roomPlanned ·
Gamma HeatCoverage buildingATM gammaPlanned ·
Tail DemandNormalSKEWSnapshot ·
Six-factor breakdown
Premium quality balances income, cushion, movement, and tail risk.
SPY Put IVNormal
Tracks the SPY put premium level in the seller zone.
Planned ·Seller CushionCoverage building
Checks how much room exists between spot price and the weighted seller-zone breakeven.
Planned ·Put/Call OICoverage building
Reads the open-interest tilt between protection demand and calmer positioning.
Planned ·Gamma HeatCoverage building
Hot gamma cuts the usable value of rich premium.
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
Rich premium needs a clear reason.
High IV can mean paid risk, unstable price action, or both.
Seller cushion shows the room before the weighted breakeven zone.
Hot gamma makes rich premium fragile.
Theta quality compares time decay with vega and movement risk.
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
Jump risk can eat a bigger premium fast.
- 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 while price action gets less stable.
Source confidenceTap to inspect data freshness, delay labels, and pending option-chain fields.
Source confidence
Cboe delayed reads, Massive option-chain fields, and Miss Lemon formula outputs each get their own label.
Further reading