Which implied vol drives the compass up/down axis (IV z-score), the σ moves and carry. IV30 for trades out to about 6 weeks, IV60 or IV90 for longer ones.
Δ Vol
How far back the change in IV30 looks in the Metrics table: 1 day or 5 days. Positive means options got more expensive.
Δ Skew
How far back the change in skew looks (1, 5 or 10 days). Drives the Δ Skew chart and the Metrics table. Rising skew means puts are getting bid.
Carry vs
Which realized vol IV is compared with. HV10 reacts fastest to recent moves, HV30 is steadier. Carry above 1× means options price more movement than the market has delivered.
Cadence
DAILY shows today's move in the return strips and σ bars. WEEKLY shows the past week.
Group
Narrows every chart and the table to one group (for example Bonds only). ALL shows everything.
Compass spot axis
The dropdown in the Strategy Compass header. BB %: where price sits in its 20-day Bollinger bands, 0% = lower band (left dashed line), 50% = middle, 100% = upper band (right dashed line). 1W σ: this week's move measured against what options priced in.
How to use it
Check the gauges at the top are green: fresh data comes after the 9:30 AM open.
Set IV Term to match how long you would hold the trade.
On the Strategy Compass, look for tickers far from the center. Top half = implied vol rich, so selling premium pays; bottom half = vol cheap, so buying options is cheap. Left = price near the lower band; right = near the upper band. The quadrant label is the trade idea; outer rings are the stronger readings, the inner ring means use a spread.
Confirm with the other charts: Skew (are puts expensive?), Term structure (above 100 = event or stress priced in), Carry (IV rich vs realized?).
Click any ticker for its drill-down: the read in plain words, every metric ranked, and open interest by strike.
Italic tickers use a stand-in z-score until 20 days of history build up. The compass screens for mispriced premium; it is not a trade signal by itself.