Plain-language notes on how we talk about options and structure. We’ll add more posts over time.
Implied volatility rank compares today’s IV to where it’s been over a lookback window (often 52 weeks). High rank → options are relatively expensive vs. recent history; low rank → relatively cheap. It’s context, not a buy/sell signal.
Gamma describes how much an option’s delta changes as the stock moves. Dealers’ positioning can influence how price behaves near big strikes - useful context, not a prediction.
A put credit spread sells a put and buys a lower-strike put for the same expiration. It’s a defined-risk, income-style structure when you’re neutral to mildly bullish - not a recommendation; learn the risks first.
Aggregated put/call activity and unusual volume are noisy. We use them as situational context alongside price and volatility - not as a standalone trigger.