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Metrics Reference  ·  All definitions are deterministic — no subjective interpretation
Input Metrics
IV / HV Ratio Gate 1

Implied Volatility divided by Historical Volatility. Uses ATM strike IV (3 nearest strikes to current price). Measures whether the options market is pricing more movement than has historically occurred.

< 1.0Underpriced movement. Potential expansion setup.
1.0 – 1.5Fair volatility pricing. Gate 1 threshold met at ≥ 1.10.
1.5 – 2.5Elevated expansion regime. PCS determines if fuel or bubble.
> 2.5Vega Wall / Terminal Bubble. Asphyxiation Gate trigger.
Gate 1 requires IV/HV ≥ 1.10 AND |VWAP Z| ≥ 0.80 simultaneously.
IV: OPTIONS CHAIN — yfinance ATM straddle HV: T1 yfinance · T2 Stooq — 20-day close series RECUSED when earnings within 7d — event premium out of jurisdiction RULING VOTE: active · direction BULL >1.0 compression, BEAR <0.85
VWAP Z-Score Gate 1

Standard deviations from the Volume-Weighted Average Price. VWAP is not a trend indicator in this framework — it is an exhaustion detector measuring distance from equilibrium.

> +1.5Overextension / distribution risk. Rubber-band effect active.
+0.8 to +1.5Gate 1 threshold zone. Displacement confirmed.
-0.8 to +0.8Equilibrium. No displacement signal.
< -0.8Capitulation zone / short exhaustion signal.
PRIMARY: T1 yfinance — 30m intraday, 5-day window FALLBACK: T2 Stooq — daily VWAP Z when intraday unavailable (coarser resolution) RULING VOTE: active · decisive on displacement direction · anchors Net GEX amplification axis
Net GEX Gate 2

Net Gamma Exposure — the aggregate hedging obligation of market makers across all option strikes. Determines whether dealer activity accelerates or dampens price movement.

NEGATIVEAcceleration regime. Dealers buy when price rises, sell when it falls — amplifying movement.
POSITIVEStabilization regime. Dealers sell strength, buy weakness — dampening movement.
NEUTRALNo dominant hedging force. Gate 2 fails on this condition.
Gate 2 requires Net GEX ≠ NEUTRAL AND OI off-center simultaneously.
DATA: OPTIONS CHAIN ONLY — yfinance · no fallback exists RECUSED when options chain absent RULING VOTE: active · short-gamma vote follows VWAP Z direction · long-gamma votes against displacement
OI Gravity Position Gate 2

Position of current spot price relative to the nearest Call Wall and Put Wall derived from Open Interest concentration. OI walls act as gravitational attractors or repellers depending on GEX regime.

Below Call WallUpward gravitational pull toward Call Wall. Accumulation support.
Above Put WallDownward gravitational pull toward Put Wall. Distribution pressure.
Between WallsPinning zone. Theta decay regime. Gate 2 fails.
DATA: OPTIONS CHAIN ONLY — yfinance · no fallback exists RECUSED when options chain absent RULING VOTE: reduced 35% weight on timeframes >45D — DTE proximity required for pin mechanics
Binary Level Gate 3

The expected move as priced by the ATM straddle, expressed as a percentage of spot. Represents the market's consensus on the magnitude of the next catalyst-driven move.

< 15%Low binary leverage. Catalyst unlikely to generate structural displacement.
15 – 25%Moderate. Approaching Gate 3 threshold.
≥ 25%Gate 3 passes. Catalyst amplification confirmed.
> 120%Gamma shock regime when combined with Negative GEX.
DATA: OPTIONS CHAIN ONLY — ATM call + put last price / spot RECUSED when options chain absent — expected move falls back to IV-based estimate only RULING VOTE: active · BULL >55%, BEAR <45%, HOLD 45–55%
SI / P-E Ratio Gate 3

Short Interest (% of float) divided by trailing P/E ratio. Measures the tension between speculative short positioning and valuation. A high ratio indicates either a squeeze trap or accumulation fuel; a low ratio indicates weak bid support or air-pocket downside risk.

≥ 0.50High tension. Forced buying potential OR squeeze trap.
0.30 – 0.50Gate 3 threshold met. Catalyst amplification active.
0.10 – 0.30Moderate tension. Does not pass Gate 3 alone.
< 0.10Weak bid. Air-pocket downside risk on catalyst.
yfinance shortPercentOfFloat is decimal — engine multiplies by 100 before dividing by P/E.
DATA: T1 yfinance — shortPercentOfFloat + forwardPE from info RECUSED when SI data unavailable — common on OTC, micro-cap, and non-US names RULING VOTE: active · ~14-day reporting lag stated in notes when present
DTC — Days to Cover Gate 4

Shares sold short divided by average daily volume. Represents how many trading days it would take all short sellers to cover their positions at current volume. High DTC creates structural friction against upward displacement.

< 3Low resistance. Fast displacement possible in either direction.
3 – 5Balanced friction. Normal structural dynamics apply.
5 – 10Elevated friction. Slows accumulation momentum.
> 10Structural cap. Liquidity exhaustion risk.
> 12 + Positive GEXHard Block. Gate 4 fails. Class A/B downgrade.
DATA: T1 yfinance — sharesShort / averageVolume10days from info RULING VOTE: active · ~14-day reporting lag — confidence horizon narrows on fast-moving names
PCS — Profitability Convergence Score

Composite measure binding volatility to fundamentals. Determines whether high IV represents expansion fuel or a terminal bubble. Computed as a weighted sum of three efficiency spreads.

MESMargin Efficiency Spread = Operating Margin YoY − Revenue Growth YoY
CESCash Efficiency Spread = Free Cash Flow YoY − Revenue Growth YoY
CPSCapital Pressure Spread = −Share Dilution YoY

Formula: PCS = (MES × 0.4) + (CES × 0.4) + (CPS × 0.2)

≥ +1.0Self-funding growth. Expansion fuel confirmed.
+0.5 to +1.0Efficient scaling. Accumulation supported.
-0.5 to +0.5Neutral convergence. No directional amplification.
-0.5 to -1.0Inefficient growth. Inversion pressure building.
≤ -0.75Burn Model. Forced Accumulation INVALID unless Net GEX flips strongly positive with VWAP reclaim.
DATA: T1 yfinance — operatingMargins, revenueGrowth, freeCashflow, marketCap from info RULING VOTE: active · pre-revenue companies default to neutral (0) vote
Elastic State / STI

Streak Tension Index — derived from the count of consecutive green or red daily closes over the last 10 sessions. Detects displacement exhaustion and adjusts gate thresholds accordingly.

OVERBOUGHT TENSION≥ 4 consecutive green days. Gate 3 tightens: PCS ≥ +0.4 or SI/P-E ≥ 0.35 required. Inversion priority active.
OVERSOLD TENSION≥ 4 consecutive red days. Binary Level allowed for Gate 3. Short-side friction softened. Snapback elevated.
VOLATILE DISLOCATIONBoth rally and slashing flags active. Gate 1 relaxed (IV/HV ≥ 1.05). Both directions structurally open.
NEUTRALNo displacement exhaustion. Standard thresholds apply.
DATA: T1 yfinance · T2 Stooq — 15-day close series RULING VOTE: active · available for any name with price history · highest waterfall coverage of all 9 metrics
Adjusted Delta

The net directional force after all structural inputs are resolved, weighted by RPM (Regime Polarity Multiplier). Ranges from approximately −10 to +10. Positive values indicate accumulation pressure; negative values indicate inversion pressure.

≥ +7Extreme accumulation. Maximum mechanical weight on call side.
+3 to +7Strong to moderate call-side structural pressure.
-3 to +3Mild or flat bias. Equal-weight evaluation of both paths required.
-3 to -7Strong to moderate put-side structural pressure.
≤ -7Extreme inversion. Maximum mechanical weight on put side.
RPM — Regime Polarity Multiplier

Applied to the structural delta based on the SPX macro regime. Derived from SPX 20-day vs 50-day SMA comparison — not from the ticker under analysis. This prevents the ticker's own trend from recursively amplifying its own bias.

BULL (1.0×)SPX 20D above 50D. No counter-trend amplification. Raw polarity drives output.
BEAR (1.5×)SPX 20D below 50D. Inversion pressure amplified 50%. Counter-trend gravity active.
NEUTRAL (1.0×)Indeterminate SPX regime. No amplification applied.
Polarity Matrix — Acc% / Inv%

The bull score and bear score are computed independently from the structural input grid. Acc% and Inv% express each side as a percentage of the total structural force. Both paths are always scored — the framework never suppresses the non-dominant path.

70%+ one sideStrong directional conviction. Dominant path has clear structural majority.
55–70%Moderate bias. Non-dominant path retains structural validity.
45–55%Near-equilibrium. Dead Zone conditions approaching.
Deterministic Ruling System
How the 9-Metric Ruling Works

Each of the 9 metrics casts a vote: +1 (bull), −1 (bear), or 0 (neutral). Votes are resolved from band labels first; raw numeric values are secondary refinement only. This makes the ruling unit-independent — a VWAP Z of −0.88 and a Net GEX of +0.596 both produce votes without requiring a common scale.

Net score > +1BULL verdict
Net score < −1BEAR verdict
−1 to +1HOLD verdict

Conviction (1–5) is derived from the absolute net score. Confluence ratio is Nsupporting:Nopposing. Recused metrics are withheld from the vote and counted separately — recusal narrows ruling authority but does not flip the verdict.

JURISDICTION: options-chain metrics recuse when chain absent JURISDICTION: IV/HV recuses within 7d of earnings (event premium) OI GRAVITY: reduced 35% weight on timeframes >45D STOOQ FALLBACK: VWAP Z and Elastic always attempt T2 when T1 fails