Clarity starts with the method.
Every view uses one set of calculations. Here is exactly what the numbers mean.
01 / Data & scope
In demo mode, prices, Greeks, open interest and history are deterministically generated synthetic examples, fixed at September 10, 2026, 20:00 UTC. They are not market quotes. The demo has twelve US stock and ETF symbols, 310 synthetic weekday bars and eight expirations. Days-to-expiry are measured from the snapshot date, not your computer’s date.
02 / IV Rank & IV Percentile
IV Rank = 100 × (current IV − historical minimum) / (historical maximum − minimum). IV Percentile = 100 × count of historical IV values strictly below current IV / 252. The lookback is the previous 252 sessions, excluding the current snapshot. All use the same synthetic constant 30-day reference IV series. Rank is unavailable when the historical range is zero; both are unavailable with insufficient history. A rank may exceed 100 when current IV exceeds the prior range.
03 / Quotes & capital efficiency
Mid = (bid + ask) / 2. Spread = ask − bid; spread % = spread / mid × 100. Only valid positive, uncrossed two-sided quotes are used. For one standard 100-share put, credit = mid × 100 and cash secured = strike × 100. Estimated margin = 100 × max(0.20 × spot − max(spot − strike, 0), 0.10 × strike) + credit. This is the inherited OO general estimate, not a broker-specific requirement. Non-standard contracts and 0DTE are excluded. Put candidates require strike at or below the underlying snapshot price and absolute Delta of at least 0.10, including the boundary, for each expiration. Unknown Delta is not guessed; temporarily unavailable Greeks keep the last-known qualifying rows without treating the data as fresh. Open-interest analysis still uses the full call and put chain.
04 / Return conventions
All displayed ROI and comparisons use simple annualization: ROI = credit / selected capital × 365 / DTE × 100. This is not a compounded return. Estimates assume the premium is retained through expiration and exclude transaction costs, assignment losses, capital interest and changing margin requirements. They are not expected total returns. Displayed Greeks describe one long option per share: delta is spot sensitivity and theta is per calendar day. A short position reverses Greek signs.
05 / Expected move & positioning
Expected move = spot × expiry reference IV / 100 × √(DTE / 365), shown as a symmetric one-standard-deviation approximation. Put wall is the highest OI strike strictly below spot among puts; call wall is the highest OI strike strictly above spot among calls. Ties use the closest strike to spot. Max pain minimizes total call and put intrinsic value weighted by OI across the complete expiration; ties use the lowest strike. No open interest or incomplete OI means no max pain. OI calculations never use only the eligible put candidates.
06 / Charts & freshness
MA200 is the arithmetic mean of the last 200 daily closes. All demo OHLC fields use one consistent synthetic price basis; no corporate actions are modeled. A future licensed provider must normalize split adjustments, exchange sessions and timestamps before this interface is used with real data. Quote timestamps and OI observation dates are exposed separately. Missing fields are displayed as a dash, never fabricated as zero.
07 / Watchlist liquidity
The watchlist uses five dots for liquidity: more filled dots mean a higher rating. Hover to see the value out of five; missing ratings show a dash. Demo ratings are fixed synthetic examples, not live ratings or a conversion of bid–ask spread percentages. Ratings do not guarantee execution.