as of 2026-09-04
Price tells you what happened.
Skew tells you what they are paying for next.
Every evening, every name is read through both at once — what the price actually did, and what the options market is charging to protect against, or to chase, whatever comes next. Where the two disagree is the point.
Two questions, one chart
horizontal — price
What the name actually did, relative to its sector. Every screen shows you this, and by the time you read it, it has already happened.
vertical — 25Δ skew vs sector
What the options market charges to protect against a fall, versus what it charges to chase a rise — measured against what that sector normally pays. A price on an opinion about next week.
A name that fell while its skew moved toward calls is not the same as a name that fell while everyone bought puts. A price screen shows both as red.
← price fell
↓ upside bid
Contrarian Bid96
Falling, yet upside is bid. Somebody is paying for a bounce the price has not given them yet. This is the watch list.
← price fell
↑ protection bid
Fear86
Falling, and protection is bid. The options market agrees with the tape. This is the list you leave alone.
price rose →
↓ upside bid
Chase89
Rising, and upside is bid. Confirmation and crowding are the same fact. This is the crowded side of the trade.
price rose →
↑ protection bid
Hedged Rally77
Rising, while protection is bid. Somebody here is not convinced. This is the position you hold with a tighter stop.
It arrives in sentences
The report opens in six plain sentences: the tape, the theme actually leading, the name where positioning disagrees with its own price. Each one carries a small ⌕ that jumps to the row it was derived from, so every sentence is a claim you can check rather than one you take on trust.
- The tape: where the index, growth and small caps actually closed.
- The theme carrying the market this month, and how many names are actually in it.
- A theme that led the tape and is now cooling off — worth a second look.
The lines above describe what each sentence covers, not its wording — that depends on today’s numbers.
Track from the moment you saw it
Add a name and set the date you started watching it — today, or the day you first noticed it. From then on your watchlist shows the return since that moment, against SPY over the same window, and the quadrant it was in then beside the one it is in now.
A watch list that only knows today cannot tell you whether you were early or wrong.
What the report covers
Every dot on the chart is one of these names. Chains too thin to read are flagged, not dropped.
- Sectors
- 11
- Theme baskets
- 19
- Names
- 358
- Thin chains flagged
- 60
where money moved this month
- Biotech+52.8%
- Crypto miners / treasury+27.1%
- Gold / silver miners+24.7%
- Memory+23.5%
The next report is already scheduled.
It runs at 22:35 UTC, every weekday — not on refresh, not on demand, and whether or not anyone is watching. An account is what puts it in front of you the evening it exists, instead of whenever you next happen to look.
Positioning data — it shows who is paying for what, not who is right; nothing here is investment advice.