Nakkatto
SPX desk — acronym glossary
Every shorthand on the SPX 0DTE board, grouped. The chart labels are written in plain English — this is the decoder ring for the terms behind them.
Opening type — where today opens vs. yesterday
HIR higher · in range
Opens above yesterday's close but inside yesterday's high–low. Small gap up. Fills ~79%.
LIR lower · in range
Opens below the close but inside the range. Small gap down. Fills ~78%.
HOR higher · out of range
A true gap UP, above yesterday's high. Fills ~59%; continuation-biased.
LOR lower · out of range
A true gap DOWN, below yesterday's low. Fills ~50% (fills least).
Prior-day reference levels
PDC prior day close
Yesterday's close — the gap-fill target (the gold flash line).
PDH / PDL prior day high / low
Yesterday's high & low. Magnets and continuation targets on gap days.
PMH / PML pre-market high / low
High/low of the pre-market session before the 9:30 open.
Auction / Market Profile
POC point of control
The most-traded price — biggest volume/time node. Strong magnet.
VAH / VAL value area high / low
The band holding ~70% of the session's volume. Edges of fair value.
HVN / LVN high / low volume node
HVN = acceptance shelf (S/R). LVN = thin alley (price moves through fast).
IB initial balance
Range of the first hour. "IB extension" = price breaks beyond it later (~97%).
TPO time price opportunity
Profile built from time spent at each price — used for SPX (cash index has no real volume).
VP volume profile
Histogram of activity by price (session / 5-day / monthly).
Options positioning (dealer hedging)
GEX gamma exposure
Where dealer gamma hedging concentrates. Its peaks are the call wall / put wall.
DEX delta exposure
Dealer directional positioning by strike. A heavy DEX wall (≥$2B) in the path can block a gap fill.
Call wall / Put wall
Call wall = biggest +gamma strike above (magnet/cap). Put wall = biggest below (floor).
Gamma flip 0γ · ZG
Price where net dealer gamma flips sign. Above = range/mean-revert; below = trend/amplify.
0DTE zero days to expiration
Options expiring same day. All our walls are the 0DTE, per-$1-move basis.
Max pain
Strike where the most option value expires worthless — a pin magnet into the close.
Order flow / footprint (ES confluence)
Delta
Buy-aggressor minus sell-aggressor volume. Initiative — price runs away from it.
CVD cumulative volume delta
Running total of delta — the net aggressive-buying/selling trend.
Zero print @ HVN
A skipped price at a volume shelf → acts as a magnet (the one validated footprint edge).
Absorption
Heavy aggression that fails to move price. Discretionary color, not a backtested signal.
The gap play in one line
Today's opening type sets the base fill odds → a near 0DTE call wall tagged in the first 15 min with a clear path pulls fill to ~76% → a DEX ≥$2B wall in the way drags it to ~38%.