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How to Read the HedgePulse Indicator Table

A practical left-to-right workflow for turning one dense row into market context.

By HedgePulse EducationReviewed by HedgePulse Product8 min read
01 · Orientation

Read the row from context to location

The table is organized into Price, Flow, STRAT, Exposure, Levels, and Expected Move. Start broad and move right only when the earlier columns give you a reason to investigate.

  • Price
  • Flow
  • STRAT
  • Exposure
  • Levels
  • EM
02 · Flow

Separate activity from imbalance

OptRVOL asks whether total options volume is unusual. FlowImb asks whether the absolute call-versus-put volume difference is unusual. VolDif supplies the direction.

  • OptRVOL = activity
  • FlowImb = imbalance intensity
  • VolDif = call volume minus put volume
03 · Structure

Look for timeframe agreement

Each STRAT cell classifies the current candle against prior structure. A single cell is local context; several aligned timeframes are a stronger continuity read.

  • Green = upward context
  • Red = downward context
  • Neutral = compression or unresolved structure
04 · Exposure

Compare open interest with current volume

OI columns describe the standing options position base. V columns use current options volume. Read sign, magnitude, and whether the two bases agree.

  • GEX = gamma exposure
  • DEX = delta exposure
  • CEX = charm exposure
  • OI and V can diverge
05 · Location

Finish with levels and Expected Move

NG, ZG, and PG locate price relative to the gamma structure. EM normalizes price inside the weekly expected-move range: 0 is midpoint and plus or minus 100 marks the bands.

  • NG = strongest negative gamma strike
  • ZG = structural zero crossing
  • PG = strongest positive gamma strike

The Indicator Table is a scanner, not a verdict

The HedgePulse Indicator Table compresses several independent views into one row. Its job is to help you decide where to look next. It does not turn one green or red cell into a complete trading decision.

HedgePulse Indicator Table showing Flow, STRAT, Exposure, Levels, and Expected Move groups

1. Price and participation

Start with the symbol, current price, and percentage change. The optional stock RVOL column compares current stock volume with its selected historical baseline.

This first group answers a simple question: is price already moving, and is underlying participation elevated?

2. Flow columns

Column What it represents How to read it
CVol / PVol Raw call and put contract volume Useful when you want the components behind VolDif.
VolDif Call volume minus put volume Positive means more call volume; negative means more put volume. It is volume direction, not proof that contracts were bought.
OptRVOL Total options volume versus a normal full day Higher values mean options activity is running above its selected 5-day or 20-day baseline.
FlowImb Absolute call/put volume difference versus normal Higher values mean the imbalance is unusually intense. Use VolDif to recover direction.
Skew 25-delta call IV minus 25-delta put IV Positive and negative values show which wing carries higher implied volatility under the app's call-minus-put convention.
UA Total options volume divided by total open interest A participation ratio. Values above 1 mean current volume exceeds the stored open-interest base.

OptRVOL and FlowImb answer different questions. A symbol can have high total activity with balanced call and put volume, or modest total activity with a sharp directional imbalance.

3. STRAT continuity

The eight cells cover 1 minute, 5 minute, 15 minute, 30 minute, 1 hour, 1 day, week, and month. Read them horizontally to see whether short-term movement agrees with higher-timeframe structure.

A mixed row is not broken. It says the timeframes are not aligned. Open the dedicated STRAT Matrix guide for the exact signal labels.

4. Exposure totals

The exposure group pairs three measures with two bases:

  • GEX is gamma exposure.
  • DEX is delta exposure.
  • CEX is charm exposure.
  • OI uses open interest as the position base.
  • V uses current options volume as the activity base.

The values are signed totals. Their main scan value comes from sign, relative magnitude, and agreement or disagreement between the OI and volume views.

5. Levels and Expected Move

The final columns tell you where price sits inside the current options structure. NG, ZG, and PG can display price levels or normalized distance depending on table settings. A check mark means the session range has touched that level.

The EM score normalizes the weekly expected-move range. A score of 0 is the midpoint, +100 is the upper band, and -100 is the lower band. Values beyond those boundaries mean price is outside the range.

A repeatable scan

  1. Identify unusual movement or participation.
  2. Use OptRVOL and FlowImb to separate activity from imbalance.
  3. Check whether STRAT timeframes agree.
  4. Compare OI-based and volume-based exposure.
  5. Finish with gamma levels and Expected Move location.

HedgePulse is an analytics platform. These readings are informational and should be combined with your own risk process.