🐂🐻 Bull Bear — today's read of the whole book

One page that reads the option book in seven views — dealer gamma, delta & open interest, flow, vanna & charm, implied vol, term & skew, levels — scores each one against the ticker's own history, and rolls them into a single composite with the reasons listed.

💡 What a "bull" score means It means the book is set up the way theory says is supportive: for example dealers long gamma, calls being bought, skew flat, price above its walls. It describes positioning. It is a tally of readings, not a forecast of where price goes.

⚠ Read the "Track record" next to the "Textbook" The page shows both: the textbook composite (every signal the way theory says) and a track record composite (every signal re-weighted by how it has really come before moves on this ticker). When they disagree the page says so. Across the whole library most signals behave close to noise — so treat the composite as one vote among your other tools.

New words? Glossary. The top strip works as on every ticker page.

30 seconds The verdict Textbook vs record The cascade By expiry Price ladder Recent sessions How scores are built Routine

In 30 seconds

Read the verdict at the top: Strong Bull · Bull · Lean Bull · Neutral · Lean Bear · Bear · Strong Bear.
Look at Textbook vs track record: do they point the same way? A wide gap means theory and this ticker's history disagree.
Open the cascade to see which family is doing the work.

The verdict

Composite	Label
+0.35 and above	Strong Bull
+0.18 to +0.35	Bull
+0.07 to +0.18	Lean Bull
−0.07 to +0.07	Neutral — no edge today
−0.18 to −0.07	Lean Bear
−0.35 to −0.18	Bear
below −0.35	Strong Bear

Next to it: how many families lean each way, and the move regime (0–100). The regime is not a direction: high (62 +) = dealer hedging runs with the move, so breaks can cascade either way; low (38 −) = hedging leans against moves, so expect smaller ranges.

Textbook vs track record

Mode	What it does
Textbook	Scores every signal the way theory says it should work.
Track record	Weights each signal by how it has actually come before moves on this ticker — using only outcomes known at the time. A signal that has been wrong fades, or flips.
Blend	Textbook, faded by a poor record.
Gap	Textbook minus track record. Under 0.15: broadly agree · 0.15–0.30: moderate · 0.30 +: theory and this ticker's history disagree.

The "Read" sentence says…	Meaning
Both lean bullish / bearish	The strongest case: theory and the ticker's own record agree.
Textbook bullish, track record bearish	On this ticker the bullish setup has acted like a crowded or late signal. Don't chase it.
Textbook bearish, track record bullish	The fear tended to get bought here — a contrarian setup, not a reason to buy blindly.
Track record neutral	The textbook read rests on signals that have been close to noise on this ticker. Give it little weight.

The chart under it draws the candles with the three composites on their own scale: where the lines split, theory and history disagree. Scroll to zoom, drag to pan, click a session to re-read that day.

The cascade: signal → family → composite

One row per family (click ▸ to open its signals). Each family's contribution adds up exactly to the composite, and the running total shows the verdict building view by view.

Column	How to read it
Reading	The raw number — how many signals lean bull ▲ and bear ▼ in a family, or the value of a signal.
Score	−1 to +1, with + bullish. Each reading is put against the ticker's own previous sessions (median / MAD z-score) and squashed with tanh, so a reading that is always positive does not count as bullish every day.
Weight	The family's share of the composite. Flow carries a turnover multiplier (0.75–1.3×): a busy tape counts for more.
Contribution	Score × weight. These add up to the composite.
Record	How this signal has done on this ticker: works · leans right · noise · leans wrong · inverted · too new (not enough history yet).
Why	One line on the reasoning.

"no claim" means the signal had nothing to say today (a wall far away, max pain far from expiry). It is left out of the average instead of pulling it toward zero.

The timeframe cascade

The same book split by days to expiry — 0–14 (Near), 15–45 (Swing), 46–180 (Position), 181 + (Long-dated). Each cell is scored against its own norm. The Share of OI row says how much of the book sits in that bucket — a bullish Near column on 5 % of the open interest is a small statement.

Price ladder

The walls, flips, max pain and expected moves around the price in one list, with the distance in % and in σ (one-month 1σ move). Under 1σ is "reachable this month".

Recent sessions & the record

Click a row to re-read that day. The last columns show what price did next (next open → close) once it is known. Under it, How this read has done on this ticker compares every past composite label with the all-session average, so a long uptrend does not flatter every row.

How the scores are built

Norms, not raw levels. Most option numbers have a structural sign (dealer vanna is almost always positive, charm almost always negative), so each reading is compared with its own prior sessions and never looks ahead.
Level readings (price vs the flip, distance to walls, IV vs realised) are used where the level itself carries the claim; distances are in σ.
No claim ≠ zero — see above.
Open the "How the scores are built" bar at the bottom of the page for the full method.

🎓 Pro tipThe composite is most useful as a filter on your own idea, not as an idea: if you want to sell a put spread and the page reads Bull with the record agreeing, positioning is not fighting you; if the record says "inverted", be careful — on this ticker that setup has come before weakness.

⚠ A tally of positioning, not a forecastThe page says so itself under the verdict. The record uses only outcomes known at the time, and a small history (the "too new" chip) means a signal has not yet been judged.

A routine that works

Verdict and move regime.
Textbook vs track record — do they agree?
Cascade: which family carries it? Is it one family or several?
Timeframe: is the lean in the near book, or in the long-dated book that will not expire for months?
Ladder: how far are the walls in σ?