...do you trade SPX options?
VIP Mentorship on order flow & market structure
will teach you everything you can't find in a text... 👀
Led by an industry expert and derivatives specialist with over 20 years of experience in trading and market making
you are given an exclusive, inside look at the flows and dynamics that define the most important options market in the world → the SPX.
Leave your theory behind, as you learn what dealer hedging actually means... in practice- from someone who spent their career doing it.
Take a close look under the hood at all of the *massive* structural and systematic option flows that make up the true dealer position.
See in real-time how order flow & dealer positioning combine to create predictable outcomes in price and volatility.
You will not find material like this in any other publicly available trading course — guaranteed.
the VolSignals VIP Mentorship 🥂
Claim your spot alongside a limited number of passionate, highly engaged students & traders.
If you are looking for practitioner-led mentorship instead of the same repackaged "textpertise" usually sold to the public
If you understand how *critical* it is to know the flow... but don't know where to start or how to use it
If you want to transcend math & theory to explore the real world chaos of impact & feedback
with a battle-tested, options-obsessed, "SPXpert" to make sense of it all with you...
—then strap in and prepare to go behind the scenes.
🥂 I'm in... sign me up for VIP ⏩
master SPX order flow
- 0DTE order flow. Massive volumes from very different sources combine with dealer behavior to create predictable opportunities.
- thetagangmafia. Go behind the scenes & watch the largest short-term VOL sellers in action.⚙️
- Covered calls. Learn through dissecting actual order flow, how the biggest overwriters in the industry execute trades & manage positions.
- Giant 🐳 Put Spread collar(s). Drill down into market-impact at trade, and beyond. (JHEQX / JPM is just the tip of the iceberg..)
- Spot market-movers 👀... Learn to tell the difference between volatility/hedging & massive directional speculation - Follow the *right* trades at the *right* time.
understand dealer hedging
- Greeks & dealer hedging. Learn from a pro how market makers hedge and trade around their options positions - from delta & gamma to vanna & charm.
- Impact on market. Discover how this hedging flow is "predictable" in ways that create patterns and pins which you can lean on to improve your trading PNL.
- Gamma Exposure (GEX). Cut through the public-facing BS and learn the truth about dealer gamma exposure (GEX).
- Spot-Up / Vol-Up. Discover exactly what kinds of market positions create this historically uncommon (but increasingly relevant) dynamic in the volatility markets.
improve your trading
- Trade construction. Get more creative with your options trading by walking through options strategies and trade management with our experienced derivatives lead.
- Watch the best. Discover and piggyback the best-practices of the top derivatives desks in the world. Put their experience to work for you (without the management fees...)
- Trade like the "house". All these massive option flows collide with dealer hedging behavior in semi-predictable ways.
- Make money trading "events". We share some of our best performing $etups, along with *why* they work so frequently — & why they go unnoticed.
- Your size is an advantage. In these waters, it's better to be a small fish than a big whale. Come learn why...
Course Objective
Improve Trading Outcomes by Taking Advantage of Market Structure, Systematic Flows and Index Options Positioning.
Syllabus
- Introduction
VolSignals - Introduction
Leveraging Market Structure and Mechanics to Improve Trading Outcomes
What is "Consilience?"
Overview of Course Material + Resources - Structural Factors & Systematic Flows
Structural Factors
Systematic Strategies (Positioning & Flow)
Related Concepts - SPX Options & Volatility: Critical Concepts
Introduction to Greeks
Terminology & Commonly Used Metrics
Think Like a Market Maker: Options Spreads & Strategies
Dealer (Market Maker) Hedging Behavior - SPX Options Order Flow: Overview
High Level Framework / Types of Flows
Structural Patterns in Class, Delta & Tenor/Term - SPX Option Order Flow: ODTE
Unique Considerations / Market Impacts Order Flow: Trends, Patterns, and Imbalances
Systemic Risk? - SPX Option Order Flow: Systematic Short Vol (Short-term)
Overview & Defining Characteristics Evolution of Short Vol Option Flows
Deep Dive - Actual Flows & Positions - SPX Option Order Flow: Traditional Overwrite Supply (30DTE)
Overview & Defining Characteristics Differences in Management Styles
Deep Dive - Actual Flows & Positions - SPX Option Order Flow: Structural Hedging & Longer Tenors
Overview & Defining Characteristics
Collars & Risk Reversals - JPM Collar Deep Dive
Persistent Tail Hedging Strategies
Longer Dated Order Flow / Structured Product Pass-through - SPX Option Positioning
Dealer Option / Gamma Profiles (GEX) |
Constructing the True Dealer Book - VolSignals' GEX Overlay (Optional Module)
What Do We Do with This Information?
Drawing Conclusions from Longer Dated Positions
Bringing VIX / VIX Positioning into the Picture - Constructing a Trading Framework
"Consilience Trading" = Alignment
Identifying Optimal Trade Setups Optimal Options Strategy Selection - Selection Criteria
Tips, Tricks & Strategies from My Time in the Trenches...
Case Studies, Walk-throughs
