Disclaimer

Owl Mastery publishes market information for education only. Nothing on this site is investment, financial, tax or legal advice, and nothing on it is a recommendation to buy, sell or hold any security or to follow any strategy.

Not advice

Owl Mastery does not know your finances, goals or tolerance for risk, and nothing on the site is tailored to you. The levels, signals and articles describe markets in general. Decide for yourself, and consider a licensed professional before you act on anything you read here.

Stocks and options carry risk

You can lose money trading stocks, and you can lose all of the money you put into an option, often quickly. Some options strategies can lose more than their initial cost. The Options Clearing Corporation's Characteristics and Risks of Standardized Options describes how listed options work and the risks they carry. Read it before you trade options.

Levels and signals are model outputs

• The gamma levels rest on assumptions, such as which side of each option dealers hold. When an assumption is wrong, the level is wrong.
• Owl Mastery computes the figures once a day, after the US close, from the day's data. They do not change during the session and can be out of date by the time you read them.
• Data can be late, incomplete or wrong. If an update fails, the previous figures stay up until the next one succeeds.

The methodology lists every formula and its limits.

The past does not predict the future

The articles describe how to read these levels and signals. A reading is not a rule, and past behavior does not predict future results. Do your own research before you trade.

Your responsibility

You are responsible for your trading and investment decisions and for their results. The terms of use set out the rest.