Reading the Market
Read IV rank, gamma exposure, the Greeks, and flow like a second language.
Pros read signals retail traders mostly ignore: implied volatility, IV rank, gamma exposure, the Greeks. Together these answer what move is being priced in, whether options are cheap or expensive relative to the ticker's own history, and whether dealers are about to dampen the tape or amplify it. By the end of this series you'll look at a quote screen the way a trader does.
Lessons in this series
- 01
The Greeks, overview
The dashboard for every options trade.
- 02
Implied volatility, explained
The market's forecast, derived from option prices.
- 03
What is IV rank?
A weather report for whether options are cheap or expensive.
- 04
IV crush, explained
Why your earnings calls lose money on good news.
- 05
Gamma exposure (GEX), explained
How dealer hedging pins SPY some days and amplifies it on others.
- 06
Poor man's covered call
The covered call income loop with less capital.
- 07
LEAPS options, explained
Stock replacement with long-dated deep-ITM calls.
- 08
0DTE options, explained
Trading the last day of an option's life — SPX iron condor setup.
Related strategy pillars
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