Still in Contango-a Go-Go In ThinkOrSwim

[antwerks]

VIX is still at near all time lows the 30 day average is 16.78. SP500 still bullish and looking to close soon at 6500 or above.

 

[BenTen]

I love VIX Contango-type scripts.

Here is another intersting one https://usethinkscript.com/threads/bullish-market-entry-point-for-thinkorswim.1174/

 

[antwerks]

I love VIX Contango-type scripts.

Here is another intersting one https://usethinkscript.com/threads/bullish-market-entry-point-for-thinkorswim.1174/

COOL HERE IT IS ON AN OVERLAY WITH PIVOTS

 

[antwerks]

I love VIX Contango-type scripts.

Here is another intersting one https://usethinkscript.com/threads/bullish-market-entry-point-for-thinkorswim.1174/

vERY SIMILAR TO ANOTHER i STARTED WITH https://tos.mx/!uQzzMOtC

 

[antwerks]

I love VIX Contango-type scripts.

Here is another intersting one https://usethinkscript.com/threads/bullish-market-entry-point-for-thinkorswim.1174/

https://tos.mx/!esqPYdBo
TOS doesn't have everything we need but look at this and tell me what you think.
How to read the pivots

• Green Up Arrow = the oscillator just printed a new N-bar low
  → hedging pressure easing relative to price momentum; trends tend to persist or stabilize.
• Red Down Arrow = the oscillator just printed a new N-bar high
  → hedging pressure building (Gamma ROC outrunning Price ROC); risk of volatility expansion / sharp move.
• “Div %>0 (N)” label
  • Above ~70% = regime mostly stress/expansion (be prepared for larger swings).
  • Below ~30% = regime mostly calm/continuation.

Tip: tune extremeLookback to your timeframe (e.g., 20 on daily, 50–100 on intraday for fewer signals).

 

[antwerks]

How a Ratio/Spread Could Work

1. Gamma/Delta Ratio (G/D)
2. If Gamma is rising faster than Delta, it suggests the stock is entering a zone where small moves force big hedging reactions → possible breakout or volatility event.
3. If Gamma is flattening while Delta trends steady, market makers are less exposed → calmer price action likely.
4. Rate of Change (ROC) of Greeks

• Compute ΔGamma/Δt vs ΔDelta/Δt (their slope).
• A diverging spread (Gamma ROC rising while Delta ROC falling) often precedes sharp reversals, because the underlying is about to hit a “hedging wall.”

1. Gamma–Delta Divergence Indicator (concept)

• Plot Gamma ROC – Delta ROC as a histogram.
• Positive = hedging pressure building (volatility expansion likely).
• Negative = hedging pressure easing (trend continuation likely).

Charting Idea in TOS

• Unfortunately, for me Thinkorswim (which I use) doesn’t natively give you Gamma/Delta time series per option strike. You only see snapshot values in Option Hacker.
• But we can:
• Pull aggregate Greeks from open interest (OI × Greeks) → sometimes called GEX (Gamma Exposure).
• Chart its rate of change (slope).
• Compare with Delta exposure (DEX).
• Display the spread (GEX – DEX) as a line or histogram.

This is basically what some professional dealers watch (e.g., SpotGamma models).
Why It’s Useful to us-

• When Gamma Exposure flips negative → market makers hedge in the same direction as the move → amplifies volatility (big swings likely).
• When Gamma is strongly positive → hedging dampens moves → market grinds sideways.
• Watching the ROC and divergence of Gamma vs Delta helps you catch those transition points early.

 

[antwerks]

@BenTen Just playing with alot of different ways to look at the same think https://tos.mx/!vn0d8Hax

 

[antwerks]

@BenTen here is your VIX_VIX3M with some labelling
https://tos.mx/!ow5QQrrB

 

[BenTen]

@BenTen here is your VIX_VIX3M with some labelling
https://tos.mx/!ow5QQrrB

View attachment 25583

Nice!!!