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BigShort Lexicon

Glossary of Terms, Acronyms, etc

Updated yesterday

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0DTE (Zero Days To Expiration)

Also known as: Same Day Expiration

Options contracts that expire on the current trading day; highly volatile and time-sensitive.

Related: DTE, 7DTE, Premium, GEX

7DTE (Seven Days To Expiration)

Also known as: Weekly Expiration

Options contracts expiring within seven days; commonly used for short-term GEX analysis.

Related: DTE, 0DTE, GEX, Premium


A

ATR (Average True Range)

A technical indicator measuring market volatility by analyzing the range between high and low prices over a specified period.

Related: Volatility, Price Action


B

Bearish

Also known as: Downward / Negative Sentiment

Expecting or indicating a downward price movement; negative market sentiment.

Related: Bullish, Puts, Resistance, Bronze Sweep

Bronze Sweep

Also known as: Bearish Sweep

A large, unusual option transaction analyzed as bearish by BigShort's proprietary algorithms.

Related: Golden Sweep, UO, NOF, OptionFlow

Bullish

Also known as: Upward / Positive Sentiment

Expecting or indicating an upward price movement; positive market sentiment.

Related: Bearish, Calls, Support, Golden Sweep


C

Call Wall

Also known as: Call HP / Green Line

The strike price with maximum call gamma (green line in GEX); acts as resistance where dealer selling pressure increases.

Related: Put Wall, GEX, HP, Resistance, Gamma

Calls

Also known as: Call Options

Options contracts giving the buyer the right to purchase the underlying asset at a specified strike price before expiration.

Related: Puts, Premium, Strike Price, NOF, Bullish

Candlestick

Also known as: Candle / Bar

A chart element showing open, high, low, and close prices for a specific time period.

Related: OHLCV, Price Action, Timeframe

ChartGame

A free online simulator (ChartGame.com) that helps traders practice decision-making using historical charts without risking real capital.

Related: Price Action, ORB, Support, Resistance

Confluence

Also known as: Alignment / Confirmation

When multiple indicators or signals align to support the same directional bias, increasing the probability of a successful trade.

Related: NOF, Dark Pools, MomoFlow, GEX, Price Action


D

Dark Pools

See: DP

Private trading venues where large institutions execute orders away from public exchanges to minimize market impact.

Related: DP, DarkFlow, Support, Resistance

DarkFlow

A ranked discovery tool showing tickers with the most significant current Dark Pool activity across the market.

Related: DP, Dark Pools, Volume

Delta

An option Greek measuring how much an option's price changes for every $1 move in the underlying stock; indicates directional exposure.

Related: Gamma, Greeks, GEX, Premium

Derivatives

Financial instruments whose value is derived from an underlying asset, such as options, futures, or swaps.

Related: Calls, Puts, Options, Spot Market

DIA (Dow Jones ETF)

Also known as: Dow ETF

An exchange-traded fund that tracks the Dow Jones Industrial Average.

Related: SPY, QQQ, ETF, UltraFlow

DP (Dark Pool)

Also known as: Dark Prints

Private trading venues where large institutions execute orders away from public exchanges to minimize market impact; individual prints are called Dark Prints.

Related: DarkFlow, Support, Resistance, Confluence

DTE (Days To Expiration)

Also known as: Time to Expiration

The number of calendar days remaining until an option contract expires.

Related: Premium, Greeks, 0DTE, 7DTE

Dumb Money

Also known as: Retail / Momo Traders

Emotional or reactionary traders; typically retail investors and less sophisticated institutional players.

Related: MomoFlow, Shadow Bars, Smart Money


E

ETF (Exchange Traded Fund)

A marketable security that tracks an index, commodity, bonds, or basket of assets.

Related: SPY, QQQ, DIA, Spot Market

Exhaustion

Also known as: Flow Exhaustion / Overextension

A condition where sustained flow in one direction becomes overextended, often leading to a sharp reversal when the dominant side "tires out".

Related: MomoFlow, NOF, Reversal


G

Gamma

An option Greek measuring the rate of change of delta; highest for at-the-money options near expiration, critical for dealer hedging flows.

Related: Delta, Greeks, GEX, Market Makers

GEX (Gamma Exposure)

Net changes to delta exposure across the market, plotting critical price levels where dealer hedging creates dynamic support and resistance zones.

Related: Gamma, Delta, Call Wall, Put Wall, Zero Gamma Flip, HP

Golden Sweep

Also known as: Bullish Sweep

A large, unusual option transaction analyzed as bullish by BigShort's proprietary algorithms.

Related: Bronze Sweep, UO, NOF, OptionFlow

Greeks (The)

Also known as: Option Greeks

Mathematical calculations (Delta, Gamma, Theta, Vega, Rho) used to assess option pricing and risk exposure.

Related: Delta, Gamma, Premium, Volatility


H

HBD (Honey Badger Day)

Also known as: Badgerish Day

A rare, high-probability setup (up to 90% for 3-HBD) that typically shows early morning weakness followed by a late-day rally in SPY, indicated by the Squeeze Meter.

Related: Squeeze Meter, UltraFlow, NOF, Short Squeeze

Hedge/Hedging

Taking offsetting positions to reduce risk exposure; market makers hedge to maintain neutral positions as prices move.

Related: Market Makers, Delta, Gamma, HP

HFT (High-Frequency Trading)

Also known as: Algo Trading

Automated trading strategies that execute orders in milliseconds using algorithms.

Related: SmartFlow, Market Makers, Order Flow

Honey Badger Day

See: HBD

A high-probability SPY setup signaled by the Squeeze Meter reaching 3-HBD or higher.

Related: HBD, Squeeze Meter, Short Squeeze

HP (Hedge Pressure)

Price levels where market maker hedging activity creates support or resistance.

Related: GEX, Market Makers, Support, Resistance


I

Implied Volatility

Also known as: IV

The market's forecast of likely movement in an asset's price; higher IV means more expensive options.

Related: Volatility, Premium, Skew, Greeks

Inverse Indicator

Also known as: Contrarian Signal

An indicator where the typical interpretation is reversed; high values suggest opposite price movement.

Related: MomoFlow, Shadow Bars, Dumb Money


L

L2 (Level 2 Data)

Also known as: Level II

Real-time order book data showing bid and ask prices beyond the best available quote.

Real-time order book data showing bid and ask prices beyond the best available quote.

Related: L3, Order Flow, Market Makers

L3 (Level 3 Data)

Also known as: Level III

Advanced market data including all quotes, cancellations, and fills from exchanges.

Advanced market data including all quotes, cancellations, and fills from exchanges.

Related: L2, Order Flow, SmartFlow, MomoFlow


M

MA (Moving Average)

A lagging indicator that averages price data over a specified time period to smooth out fluctuations.

Related: OHLCV, RSI, Price Action

Manipulation

See: MMPD

Advanced indicator showing potential manipulative trading activity by market makers (SmartFlow chart only, for professional users).

Related: MMPD, SmartFlow, Market Makers

Market Makers

Also known as: MM / Dealers

Financial firms that provide liquidity by continuously quoting buy and sell prices; must hedge their positions as markets move.

Related: Hedging, GEX, Gamma, Delta, HP

Martian NOF

Also known as: Martian Net Option Flow

A variant of Net Option Flow that excludes unusual option premiums, focusing only on regular market activity for clearer sentiment reading.

Related: NOF, NOFA, Regular Flow

MMPD (Market Maker Price Discovery)

Also known as: MM Price Discovery

Advanced indicator tracking market maker positioning and manipulative activity (Elite feature).

Related: Manipulation, SmartFlow, Market Makers

Momo

See: MomoFlow

Short for Momentum Flow or Momentum Traders.

Related: MomoFlow, Shadow Bars, Dumb Money

Momo Mondays

A phenomenon where SPY tends to follow MomoFlow direction on Mondays rather than acting as an inverse indicator.

Related: MomoFlow, HBD, SPY

MomoFlow

Also known as: Momentum Flow / Shadow Bars

Momentum Flow - tracks emotional and discretionary trading from retail and "dumb money"; often acts as an inverse indicator.

Related: Shadow Bars, SmartFlow, Order Flow, Inverse Indicator


N

Net Option Flow

See: NOF

Dollar-weighted net premium showing directional bias in options activity.

Related: NOF, NOFA, Calls, Puts

NOF (Net Option Flow)

Dollar-weighted net premium of all call and put buying and selling activity; differentiates buys from sells.

Related: NOFA, Martian NOF, OptionFlow, Unusual Premium

NOFA (Net Option Flow Accumulation)

Also known as: NOF Accumulation / Green Line

The running daily tally of net premium flows; tracks cumulative directional sentiment throughout the trading day.

Related: NOF, Martian NOF, Calls, Puts


O

OHLCV (Open High Low Close Volume)

The five basic data points that most brokers provide for each trading period.

Related: Candlestick, Price Action, Volume

OptionFlow

A tab/feature showing large and unusual option activity for any ticker with sentiment analysis (bullish/bearish/neutral).

Related: NOF, UO, Golden Sweep, Bronze Sweep

ORB (Opening Range Breakout)

A trading strategy based on price breaking above or below the range established in the first period of trading.

Related: Price Action, Support, Resistance

Order Flow

All market, limit, and stop orders being placed, cancelled, or filled; the real-time buying and selling activity moving prices.

Related: L2, L3, SmartFlow, MomoFlow


P

Power Hour

Also known as: Final Hour

The last hour of the trading day when institutional activity often distorts typical patterns; requires cautious interpretation.

Related: OptionFlow, Volume, Institutional Activity

Premium

Also known as: Option Premium

The price paid for an option contract; reflects time value, intrinsic value, and implied volatility.

Related: Calls, Puts, NOF, UO, Greeks

Price Action

Also known as: PA

The movement of price over time; the foundation of technical analysis showing real-time supply and demand dynamics.

Related: Candlestick, Support, Resistance, Timeframe, ORB

Put Wall

Also known as: Put HP / Red Line

The strike price with maximum put gamma (red line in GEX); acts as support where dealer buying pressure increases.

Related: Call Wall, GEX, HP, Support, Gamma

Puts

Also known as: Put Options

Options contracts giving the buyer the right to sell the underlying asset at a specified strike price before expiration.

Related: Calls, Premium, Strike Price, NOF, Bearish


Q

QQQ (Nasdaq 100 ETF)

Also known as: Nasdaq ETF / Triple Q

An exchange-traded fund that tracks the Nasdaq-100 Index, heavily weighted toward technology stocks.

Related: SPY, DIA, ETF, UltraFlow


R

Resistance

A price level where selling pressure historically prevents further upward movement.

Related: Support, Price Action, Dark Pools, Call Wall

RSI (Relative Strength Index)

A momentum oscillator measuring the speed and magnitude of recent price changes to identify overbought or oversold conditions.

Related: MA, ATR, Price Action, OHLCV


S

SE (Short Exempt)

A designation allowing short sales to bypass the uptick rule and short sale restrictions (SSR).

Related: SSR, Short Squeeze, Market Makers

Seasonality

Historical performance patterns based on calendar date or day of week; a weaker force used to add context to stronger indicators.

Related: Price Action, Confluence

SF (SmartFlow / SF Segregated)

Also known as: Smart Flow

Refers to either the SmartFlow indicator or the SF Segregated page, which shows algorithmic trading activity from market makers and institutions.

Related: MomoFlow, Order Flow, HFT, L2, L3

Shadow Bars

Also known as: Momo Bars

Gray bars in the MomoFlow chart showing momentum-driven buying (up) or selling (down); often acts as inverse indicator for SPY.

Related: MomoFlow, Inverse Indicator, Dumb Money

Short Squeeze

Also known as: Squeeze

Rapid price increase forcing short sellers to buy back shares to cover positions; creates additional buying pressure.

Related: SE, SSR, Squeeze Meter, HBD

SimSearch

Also known as: Similarity Search

Analyzes historical data to identify the 5 days most similar to current intraday patterns for predictive insights.

Related: UltraFlow, Price Action, Pattern Recognition

Skew

Also known as: Options Skew

An options metric showing the difference in implied volatility between puts and calls; indicates market sentiment (Elite feature).

Related: Implied Volatility, Greeks, Premium

Smart Money

Institutional traders, algorithms, and sophisticated market participants who trade based on analysis rather than emotion.

Related: SmartFlow, Market Makers, HFT, Dumb Money

SmartFlow

See: SF

Algorithmic trading flow from market makers, institutions, and HFT; fast, calculated, formula-based moves not driven by emotion.

Related: MomoFlow, Order Flow, HFT, Smart Money

Spot Market

Also known as: Cash Market / Equities

The market for immediate delivery of an asset (stocks/equities) as opposed to derivatives like options or futures.

Related: Derivatives, ETF, Underlying

Spodin

Also known as: Spear of Odin

BigShort's proprietary closed-system alert tool for setting private price alerts via call or text, protecting from market maker exploitation.

Related: Market Makers, Alerts

SPY (S&P 500 ETF)

Also known as: S&P ETF / Spider

An exchange-traded fund that tracks the S&P 500 Index, the most widely followed equity index.

Related: QQQ, DIA, ETF, UltraFlow, HBD

Squeeze Meter

Proprietary analysis of SPY UltraFlow measuring short pressure in the market; signals Honey Badger Days when shorting is excessive.

Related: HBD, Short Squeeze, UltraFlow, SE

SSR (Short Sale Restriction)

Also known as: Uptick Rule

A rule requiring shorts to only occur on an uptick (when stock trades above last sale price), typically triggered after a 10% intraday decline.

Related: SE, Short Squeeze, Market Makers

Strike Price

Also known as: Strike

The predetermined price at which an option can be exercised (bought or sold).

Related: Calls, Puts, Premium, GEX

Support

A price level where buying pressure historically prevents further downward movement.

Related: Resistance, Price Action, Dark Pools, Put Wall

Sweeps

Urgent multi-exchange option orders indicating strong directional conviction; categorized as Golden (bullish) or Bronze (bearish).

Related: Golden Sweep, Bronze Sweep, UO, OptionFlow


U

UF (UltraFlow)

Aggregated flow data from all constituent tickers within an index rather than the index ETF itself.

Related: SPY, QQQ, DIA, SimSearch, Squeeze Meter

Underlying

Also known as: Underlying Asset

The stock or security that an option or derivative contract is based upon.

Related: Spot Market, Derivatives, Calls, Puts

UltraFlow

See: UF

Aggregated data from all constituent tickers within an index (SPY, QQQ, DIA, IWM, or MDY), providing holistic view of market activity.

Related: UF, SimSearch, Squeeze Meter, ETF

UO (Unusual Options)

Also known as: Unusual Premium

Large option trades (typically over $1M in premium) including sweeps, blocks, and splits that indicate institutional activity.

Related: NOF, Golden Sweep, Bronze Sweep, OptionFlow

Unusual Premium

See: UO

Large option trades indicating institutional activity and strong conviction.

Related: UO, NOF, Golden Sweep, Bronze Sweep


V

Volatility

Also known as: Vol

The rate and magnitude of price changes; higher volatility means larger and faster price swings.

Related: Implied Volatility, ATR, GEX, Zero Gamma Flip

Volume

The total number of shares or contracts traded during a specific period.

Related: OHLCV, Order Flow, Dark Pools


Z

Zero Gamma Flip

Also known as: Zero HP / Turquoise Line

The price level (turquoise line) where gamma exposure changes from positive to negative; above = muted volatility, below = amplified volatility.

Related: GEX, Gamma, Call Wall, Put Wall, Volatility

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