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Index Trader
A dashboard focused specifically on options flow and sentiment in the major index products like SPY, QQQ, and SPX.
What is Index Trader?
Index Trader is a dashboard of options flow on the major index products. Instead of one stock, you read SPX, IWM, NDXP, RUTW, QQQ, SPY, Movers and Shakers, and VIX together. Premium Traffic Lights tag each name BULLISH, BEARISH, or NEUTRAL. The table and net flow charts sit under the lights.
Index options are not the same job as single-stock options. A large share of SPX and SPY put volume is portfolio insurance. QQQ can mix hedging with directional bets on the same tape. That is why a put-heavy row here does not mean the same thing as a put-heavy row on one name. The page keeps those products in one view so you are not hunting them inside a market-wide feed.
The lights are labels on premium flow, not a score. BULLISH, BEARISH, and NEUTRAL sit under each ticker. Under that, Today's Most Active Options by Index ranks call volume, put volume, put/call ratio, and total volume. Today's Highest Open Interest by Index swaps those columns for open interest. SPX Net Flow and QQQ Net Flow plot Net Call Premium against Net Put Premium. None of those charts is a buy or sell.
On EZPZ, the live page is titled Index Trader. The header is Market Direction Traffic Lights. The subtitle lists SPX, IWM, NDX, RUT, QQQ, SPY, and VIX. The lights also show NDXP, RUTW, and M & S, which is Movers and Shakers Tide on the chart row. Gamma Exposure is the strike table with Call Wall and Put Wall for one ticker. Market Maker Exposure is the SPX Flip Level chart with Call Wall, Put Wall, and Expected Move(VEM) and DEM. Market Cross Flow is the SPY, SPXW, and QQQ GEX grid next to candles. Greeks Heatmap is the strike-by-expiration grid with Gravity Magnet Score. Option Depth Flow is the searchable strike-by-time Bubble or Gradient chart. Ticker Explorer is the one-symbol dashboard. Largest Premium By Tickers is the Bullish Flow / Bearish Flow premium leaderboard when you do not have a name yet. Top 20 Optionable ranks listed-option names by Vol. * Price. Market Wave is the Current Day chart of Net Call Premium versus Net Put Premium. Net Flow Graph is one ticker you search with Filter ticker, plus Cumulative Volume Delta. Historical Net Premium is the 15D Cumulative lookback with a daily table. 0DTE Graph is the same-day premium chart with Filter ticker. The 0DTE dropdown is the lock. Weekly-DTE Graph is the WTE chart of premium that expires by Friday. 7-DTE Graph is the 7DTE chart of premium in the next 7 days. Supply and Demand X-ray is the ITM Call and Put chart of Price, Supply, and Demand. Money Sentiment is Bought Ratio, Net Sentiment, and Netflow Graph for one ticker. Net Premium Heatmap is the strike-by-expiration grid of Net Premium for one ticker. Movers and Shakers Tide is that same chart job for about 18 mega-cap names. GEX Heatmap is the strike-by-expiration GEX grid with a GEX Details table. GEX and DEX is the Intraday GEX and DEX chart pair with Gamma Flip. Spot Gamma and Delta is the ($) Open Interest versus ($) Volume bar pair with a Spot line. Expected Move is the DEM and VEM band chart by expiration. Put to Call Ratio is the Intraday Put/Call Ratio chart of Traded PCR, OI PCR, and Sentiment PCR. Max Pain is Intraday Max Pain with O-Max Pain, P-Max Pain, and V-Max Pain. Open Interest Scan is the OI per Strike and OI per Expiration chart pair. Volume Scan is the Volume by Strike and Volume by Expiration chart pair. Volatility Analysis is Volatility By Open Interest, Open Interest, and Implied Volatility Smile for one ticker. IV Rank Explorer is Current IV (30D), IV Rank (1Y), period IV Rank, and IV Percentile (1Y) plus the IV Rank chart. Historical Volatility is 10D through 90D Volatility versus Price. Volatility Surface 3D is Raw Contracts and Smoothed Mesh for one ticker.
How Index Trader works on EZPZ
Read the lights first, then the table, then the charts. It is not a combined rating. Most people start with SPX, QQQ, and SPY. If a light is red, read Volume Put/Call Ratio and the matching Net Flow chart before you treat it as a short. If you want positioning that lasts longer than today's volume, switch to Today's Highest Open Interest by Index.
How this differs from Gamma Exposure
Gamma Exposure is one ticker's strike map: Call Wall, Put Wall, Spot Price, expected move, and flips. This page is the index dashboard. There is no wall table here. Use Gamma Exposure when you already care about dealer exposure on one name. Use this page when you want SPX, QQQ, and SPY in one glance. Use Ticker Explorer when you want quote, PCR, GEX charts, and unusual activity for one symbol. Use Largest Premium By Tickers when you still need a name from Bullish Flow or Bearish Flow.
Premium Traffic Lights
The card is labeled Premium Traffic Lights. Each box is one index: a light, the ticker, and a badge.
The eight boxes
SPX, IWM, NDXP, RUTW, QQQ, SPY, M & S, and VIX. M & S is the same universe as the Movers and Shakers chart below.
The badges
BULLISH is green. BEARISH is red. NEUTRAL is amber when it shows. A green light is still just a label on premium flow. It is not an order to buy the index.
The index leaderboard
Two tabs sit above the table. Only one table is on at a time. Click a header to sort. Total Volume starts with a sort mark on the active-options view.
Today's Most Active Options by Index is the default tab. These columns answer how much traded today.
| Column | What you are looking at |
|---|---|
| Symbol | The index or ETF on that row. |
| Traded Call Volume Traded Put Volume | Call contracts versus put contracts that traded. |
| Volume Put/Call Ratio | Puts divided by calls for this session. Above 1 means more put volume than call volume. |
| Avg. Vol. Put/Call Ratio (30 D) | The same ratio over about 30 days. Compare it to today's ratio. |
| Total Volume Avg. Volume (30 D) | Today's total versus the 30-day average. A spike versus average is a prompt, not a thesis. |
Today's Highest Open Interest by Index swaps volume for outstanding contracts.
| Column | What you are looking at |
|---|---|
| Traded Call OI Traded Put OI | Call open interest versus put open interest. |
| OI Put/Call Ratio | Puts divided by calls in open interest. |
| Avg. OI Put/Call Ratio (30 D) | The same open-interest ratio over about 30 days. |
| Traded Total OI Avg. OI (30 D) | Today's total open interest versus the 30-day average. |
Net Flow charts
Eight charts sit under the table. Each is labeled Net Flow except Movers and Shakers. The legend is the same on every chart: Net Call Premium in green, Net Put Premium in red. The right axis is Net Premium.
The other charts are IWM Net Flow, NDXP Net Flow, RUT Net Flow, SPY Net Flow, Movers and Shakers, and VIX Net Flow. When put premium sits far above call premium, put dollars have been heavier. Index puts are often hedges. A gap is worth a second look. It is not a short.
Technical Analysis for SPY and QQQ
Under the flow charts, two widgets are labeled Technical Analysis for SPY and Technical Analysis for QQQ. The timeframe row starts at 1 minute and goes through 1 month. 15 minutes is a common setting. The gauge shows Sell, Neutral, and Buy, with Strong sell and Strong buy on the ring, plus a count under each bucket.
How people actually use it
Read the tape of the market
Start at Premium Traffic Lights. If SPX, QQQ, and SPY all print the same badge, you have a cleaner read than if they split.
Sit with one index
Pick SPX or QQQ. Read Volume Put/Call Ratio against Avg. Vol. Put/Call Ratio (30 D), then open that name's Net Flow chart.
Check open interest
Switch to Today's Highest Open Interest by Index when you want the book, not only today's volume burst.
Use it next to a single name
This page is the index dashboard. Open Ticker Explorer for one symbol. Open Gamma Exposure for Call Wall and Put Wall.