Site Features

This guide provides an overview of all features available on Theta Vantage, organized by tier and category.

Feature Tiers

🆓 Free Tier

Available after signing up (no credit card required):

• Fundamentals: View company financial data and news
• Max Pain: Max pain calculations for all expirations
• Options Calculator: Calculate theoretical option values
• Options Chain: Full options chain with real-time Greeks
• Price Distribution: Historical price movement probabilities
• Market Movers: Top gainers, losers, and most active stocks
• Watchlists: Save and track your favorite symbols
• AI Assistant: Basic access to AI for analysis

⭐ Pro Tier

Premium subscription (with free trial):

• Everything in Free, plus:
• Streaming Quotes: Real-time price updates with sub-second latency
• Options Flow Intelligence: Real-time detection of sweeps, blocks, splits, and golden sweeps
• Greek Exposure: Full gamma, vanna, and charm exposure analysis
• Greek Heatmap: Visual heatmap of Greek exposure across strikes and expirations
• Net Premium Drift: Track cumulative bullish vs bearish premium flow
• Key Levels: Comprehensive support/resistance from GEX, max pain, and IV bands
• IV Smile Analysis: Volatility skew analysis with volume-weighted Greeks
• Strike Selector: Data-driven strike selection tool with historical analysis
• Wheel Strategy: Optimize cash-secured puts and covered calls
• Enhanced AI Assistant: Priority access and deeper analysis
• Priority Support: Faster response times for support inquiries

Core Features

1. Dashboard

Overview

Access: Free (partial) / Pro (full)
Path: `/overview`

At-a-glance dashboard combining key analytics for the selected symbol:

• Metrics bar: Total GEX, zero-gamma level, max pain, IV expected move, 1σ move
• Greek Exposure card with mini bar chart and gamma environment label
• Key Levels card with max pain, expected move, and gamma walls (Pro)
• Price Level Map ranking all levels by price with distance from current (Pro)
• Multi-timeframe technical analysis: EMA, RSI, SMI, structure, BX across 5 timeframes (Pro)
• Recent news headlines with source and timestamp
• Expiration selector scoping level and exposure data to a single date

Use Case: Use the overview as a pre-trade checklist — scan the headline metrics, review each card for context, then drill into the full analytics page for any card that warrants deeper analysis.

2. Stock Analysis

Fundamentals

Access: Free
Path: `/fundamentals`

View comprehensive company financial data including:

• Market cap, P/E ratio, EPS
• Revenue and earnings trends
• Dividend information
• Company description and sector
• Real-time news feed

Use Case: Research companies before trading their options.

Price Distribution

Access: Free
Path: `/price-distribution`

Analyze historical weekly price movements:

• Bucketed frequency distribution (% gain/loss)
• Average weekly returns
• Standard deviation and volatility
• Probability calculations for expected moves

Use Case: Set strike prices based on historical movement patterns.

Market Movers

Access: Free
Path: `/market-movers`

Track real-time market activity:

• Top gainers and losers by percentage
• Most active stocks by volume
• Pre-market and after-hours movers
• Sector performance

Use Case: Find trading opportunities and gauge market sentiment.

3. Options Analytics

Options Flow Intelligence

Access: Pro
Path: `/options-flow`

Monitor real-time institutional order flow with advanced detection:

• Sweeps (urgent multi-exchange orders)
• Golden Sweeps (highest conviction trades)
• Blocks (large negotiated trades, including dark pool)
• Splits (strategic single-exchange executions)
• Live streaming via Server-Sent Events (SSE)
• Historical queries up to 30 days
• Advanced filtering (symbol, type, premium, size, moneyness, unusual activity)

How It Works: Analyzes how large orders are executed across exchanges to identify institutional activity. Sweeps indicate urgency (filled across multiple venues immediately), while blocks show patient positioning (negotiated privately). Golden sweeps combine high premium, size > open interest, and optimal delta for maximum signal quality.

Use Case:

• Follow smart money positioning before market moves
• Identify high-conviction directional bets
• Spot unusual institutional activity
• Validate breakouts with flow confirmation
• Detect dark pool block trades for long-term setups

Learn more about Options Flow →

Net Premium Drift

Access: Pro
Path: `/tide`

Track cumulative bullish vs bearish premium throughout the trading day:

• Real-time premium flow tracking
• Bullish vs bearish sentiment visualization
• Divergence detection between price and flow
• Historical comparisons

How It Works: Aggregates the premium spent on calls vs puts in real-time, showing whether institutions are net buyers of calls (bullish) or puts (bearish).

Use Case:

• Identify institutional sentiment shifts
• Spot divergences between price action and options flow
• Confirm directional bias before entering trades

Learn more about Net Premium Drift →

Max Pain

Access: Free
Path: `/max-pain`

Calculate the strike price where the most options expire worthless:

• Strike-by-strike pain calculation
• Visual chart showing pain across all strikes
• Current price vs. max pain distance
• Call/put open interest breakdown

How It Works: Max Pain theory suggests that price tends to gravitate toward the strike where option sellers (market makers) would experience the least payout.

Use Case:

• Identify potential support/resistance levels
• Plan weekly option expirations
• Understand where price may pin on expiration day

Greek Exposure (GEX)

Access: Pro
Path: `/greek-exposure`

Analyze gamma, vanna, and charm exposure across all strikes:

• Positive and negative gamma zones
• Zero-delta strike (flip point)
• Gamma walls (high concentration areas)
• Market maker hedging implications

How It Works: Gamma exposure shows where market makers must hedge, which can create support (put walls) or resistance (call walls).

Use Case:

• Identify where price may accelerate or decelerate
• Find support/resistance based on dealer positioning
• Understand volatility behavior at different price levels

Greek Heatmap

Access: Pro
Path: `/greek-heatmap`

Visual heatmap of Greek exposure with three view modes:

Expiration View (default)

• 2D grid of strike × expiration cells colored by the selected greek (GEX, VEX, DEX)
• Multi-expiration chip selector to include/exclude specific dates
• Playback mode: load historical dates and step through them to see how positioning evolved

Intraday View

• Grid of strike × time interval showing how greek exposure changes throughout the trading day
• Configurable intervals (5 min, 15 min, 30 min, 60 min)
• Trade date selector for reviewing past sessions
• Expiration filtering to isolate near-term vs. far-term positioning

Compare View

• Side-by-side intraday heatmaps for up to 3 symbols with synchronised scrolling
• Click any ticker pill to swap symbols; add or remove columns as needed
• Anchor indicator: an amber dot marking the dominant gamma strike in the most recent interval — shows where current dealer positioning is strongest relative to spot price
• Symbol layout is saved automatically and restored on your next visit

How It Works: Each cell is colored by the magnitude of the selected greek. Green/bright cells indicate positive exposure (dealers dampen moves), red cells indicate negative exposure (dealers amplify moves). The color intensity scales with absolute value.

Use Case:

• Quickly visualize complex multi-expiration positioning
• Track how dealer exposure shifts throughout the trading day (Intraday)
• Compare positioning across correlated assets like SPX, SPY, and QQQ (Compare)
• Identify the dominant gamma strike in real-time via the Anchor indicator

Key Levels

Access: Pro
Path: `/key-levels`

Comprehensive price level analysis combining multiple indicators:

• Max Pain levels across expirations
• Call and Put GEX walls
• σ bands (standard deviation expected moves)
• IV-based expected move ranges
• Confluence zones where multiple levels align

How It Works: Aggregates support/resistance levels from various options-based indicators to identify high-probability price zones.

Use Case:

• Find high-confluence support/resistance
• Set price targets and stop losses
• Identify where multiple indicators agree

IV Smile Analysis

Access: Pro
Path: `/iv-smile`

Analyze implied volatility patterns and skew across strike prices:

• ATM (at-the-money) IV baseline
• Call and put skew metrics
• Overall skew direction (bullish/bearish/neutral)
• IV anomaly detection (mispriced options)
• Visual smile curve
• Expiration-specific analysis
• Volume-Weighted Greeks:
  • Volume-weighted delta (market's implied positioning)
  • Volume-weighted IV (liquidity-adjusted volatility)
  • Liquidity scoring per strike (0-100 scale)
  • Market consensus interpretation

How It Works: The IV smile shows how implied volatility varies across strikes. In efficient markets, IV should be constant, but in reality, OTM options often have higher IV, creating a "smile" shape. Skew indicates market sentiment—put skew shows demand for downside protection (bearish), while call skew indicates upside speculation (bullish).

Use Case:

• Identify mispriced options (strikes with extreme IV)
• Optimize strike selection for credit spreads (sell high IV, buy low IV)
• Gauge market sentiment (put skew = fear, call skew = greed)
• Follow smart money (volume-weighted delta shows institutional positioning)

4. Trading Tools

Options Chain

Access: Free
Path: `/options-chain`

Full options chain with real-time data:

• Bid/ask spreads
• Volume and open interest
• All Greeks (delta, gamma, theta, vega, rho)
• Implied volatility
• Multiple expirations

What is Theta?: Theta measures time decay—the rate at which an option loses value each day. For sellers, theta is positive (you profit from time passing). For buyers, theta is negative (time works against you). Understanding theta is crucial for timing entry and exit points.

Use Case: Research options before placing trades, with special attention to theta decay for income strategies.

Strike Selector

Access: Pro
Path: `/strike-selector`

Data-driven strike selection for income strategies:

• Weekly distribution analysis
• Max pain integration
• Gamma wall identification
• Delta filtering
• Risk/reward scoring

Strategy Supported:

• Bull put spreads
• Bear call spreads
• Covered calls
• Cash-secured puts

How It Works: Combines historical price data, max pain, and gamma exposure to recommend strikes with high probability of expiring worthless.

Use Case: Find optimal strikes for weekly income generation targeting consistent returns.

Options Calculator

Access: Free
Path: `/options-value`

Calculate theoretical option values and visualize P&L scenarios:

• Black-Scholes pricing model
• Full Greeks calculation (delta, gamma, theta, vega)
• P&L matrix heatmap (spot price × date) showing projected profit/loss
• Payoff chart at expiration with breakeven and max-loss markers
• Live chain picker to pre-fill from real market data
• Display modes: dollar value, dollar change, or percentage P&L

Use Case:

• Understand option pricing and Greeks before entering a trade
• Visualize how time decay and price movement interact on the P&L matrix
• Model "what-if" scenarios by adjusting IV, expiration, or spot price

Wheel Strategy

Access: Pro
Path: `/wheel`

Optimize the wheel strategy (sell puts → get assigned → sell calls → repeat):

• Recommendations table ranking put and call candidates across multiple symbols
• Five strategy presets: Standard, Conservative, Aggressive, Weekly, and Deep ITM
• Delta, DTE, and premium-based scoring for each candidate
• RSI context and break-even levels for execution timing
• Contract stats modal with full Greeks and pricing

How Theta Works Here: The wheel strategy is designed to profit from theta decay. By selling options near expiration, you collect premium that decays fastest in the final weeks. The presets control the delta/DTE tradeoff — Conservative uses lower delta (fewer assignments) while Aggressive captures more premium with higher assignment risk.

Use Case: Systematically generate weekly or monthly income from stocks you're willing to own, leveraging theta decay.

Income Calculator

Access: Pro
Path: `/income-calculator`

Model covered-call and cash-secured-put income across a portfolio of symbols:

• Add multiple tickers with share count or cash allocation
• Contract frequency presets: Weekly, Biweekly, Monthly, 30–45 DTE, Quarterly
• Income projections with annualised return, monthly return, and collateral requirements
• AI-powered recommendations factoring in key levels and gamma walls
• Key levels integration for strike context

How It Works: Fetches live options chain data for each ticker, filters by the selected frequency, and projects income based on current premiums. The annualised return calculation adjusts for the chosen contract cycle so weekly and monthly strategies are comparable.

Use Case:

• Plan a diversified income portfolio across multiple underlyings
• Compare weekly vs monthly premium harvesting strategies
• Size positions based on collateral requirements and projected returns

5. AI Features

AI Assistant

Access: Free (basic), Pro (enhanced) Trigger: Floating button (bottom-right corner)

Conversational AI assistant:

• Market analysis and insights
• Strategy recommendations
• Risk assessment
• Educational support
• Context-aware chart analysis

Features:

• Knows current page and symbol context
• Explains complex Greeks in plain English
• Markdown formatting for readability
• Trading insight suggestions

Use Case:

• Get quick insights on a specific symbol
• Ask "What does this chart mean?"
• Validate trading ideas
• Learn options strategies

6. Account & Settings

Watchlists

Access: Free
Location: Watchlist panel (right side)

Manage your favorite symbols:

• Add/remove symbols
• Real-time price updates
• Quick navigation to symbol pages

Use Case: Track your favorite stocks and quickly switch between them.

Account Management

Access: Free
Path: `/account`

Manage your account settings:

• Subscription status
• Billing management
• Account preferences

Feature Comparison Table

Want to learn how to navigate and read each page? Continue to the next section for detailed page guides.