NOTE: This is the free NOPE, which is delayed and has no signals or charting/tracking abilities. Go to premium for advanced, live NOPE.(Close)

What is NOPE?

NOPE is a tool for determining how much the options market is influencing the underlying stock market. We have created propietary tooling around this, from charting to signaling, and it can be used to evaluate the options market! The signals have been in the past a good way of determining deviations in the options markets. You can read more about them here
The NOPE formula is intended to show the skew/bias of (greek) delta weighted option trading volume, normalized to underlying security volume (for all strikes + expiries in the option chains). The result is sort of an option based version delta effects.
NOPE shows the delta skew to Put or Call trading activity (for that day) and tracks that activity over time...with the assumption that the option dealer hedging activity may have a significant effect on the underlying price movement at extremes intraday.
Here's an old (but still useful tutorial), on how NOPE is used. The signals were not yet implemented in this video, but they help even more so (video). Use your own risk tolerance as markets are risky and you will lose some or all of your capital.

How are winning/losing signals defined?

Each signal has a signal exit defined by possible exits in areas of interest in value area. If the volume profile and stock price on the next and future ticks for SPY are lower or greater than the stock price by 0.4, this is a potential exit. IE: SPY goes from 420.4 to 420 and the signal was bearish. Even if this signal happened five ticks later, and SPY was flat, because spy is now lower than it was before, that tick is marked as a success. As long as there was no signal before and the price was higher/lower than what the signal indiciated, then it is a success. If a new signal is seen, then the signal (if there is no possible exit), is marked as a failure. You can do the reverse experiment for bullish signals. Generally NOPE tends to skew bullish, as all markets do. Know during bearish signaling it becomes harder to predict. The possible exits are thus defined as bullish or bearish based on the algo, and exited if SPY goes above or below its signal price. Generally speaking signals are less successful near EOD. If the signal itself is inside the volume profile area, the signal is usually skipped. As such, a signal is marked as successful if the stock price of the next future ticks is in the direction it predicted, by at least 0.4. IE: These three symbols are all deemed successes (https://gyazo.com/062be40c8c4cfb501133a646a9f3c30b) as the next tickers all were green, and had a large enough move on the next tick in the large value area. Due to the number of signals, confirm movements based on trend and consistenly refer. It should be added, NOPE performs poorly during OPEX and when it opens with abnormal readings. During chop, be careful of any signal, as strength dies overtime. Please see the guides on how NOPE is generated, and signals are traded above. None of this constitues financial advice, and is purely for informational and education purposes. What's more, trading and markets are risky and you will likely lose some or all of your money.

Any information on Nope is not a buy or sell signal, nor is it financial advice. Options, investing, trading is risky, and losses are more expected than profits. Playing any alert/data may result in a complete, or partial, loss in investment. Please do own research before investing. Please only susbcribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is not recommened to trade on this information

NOT INVESTMENT ADVICE

The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by this website or it's creator or any third party service provider to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. Please see the terms for a full explanation how markets are risky, and you are likely to lose some or all of your capital. NOPE signals are experimental, and perform better/worse under certain conditions. Heightened volatility, OPEX, - gex and more present troubles, as well as EOD signals. Always use your own risk and discretion. This is just an indicator and tool for entertainment and informational purposes, and does not constitute investment advice. You will likely lose all your capital over a long enough horizon.