User guide

Glossary

The terms and abbreviations used across Spread Foundry.

Quick definitions for the terms you'll see in the workspace.

Lifecycle & workflow

• Watching — a saved idea you're tracking; no money at risk.
• Open — a live position you've executed (also shown as "working" internally).
• Closed — an exited position, recorded in history with its realized P/L.
• Execute / Trade this — the step that turns a watched idea into a live position (captures size, fill price, thesis, triggers).
• Decision log — your dated trail of review decisions (hold / watch / harvest / defend / exit) against a position.
• Review trigger — a when → then alarm you set on a position.
• Health verdict — the system's live read of a position: Hold, Defend, or Exit, with a 0–100 score.

Spread & options terms

• Defined-risk spread — a structure whose maximum loss is capped (e.g. a vertical or iron condor).
• DTE — days to expiration.
• Net credit — the premium you collect to open a credit spread.
• Max loss / max profit — the worst and best outcomes at expiration.
• Break-even — the price(s) at which the trade neither makes nor loses at expiration.
• Leg — one option in a spread (a buy leg or a sell leg).

Analytics

• POP — probability of profit.
• EV — expected value.
• RoR — return on risk = max profit ÷ max loss.
• IV rank — where current implied volatility sits within its recent range.
• VRP — volatility risk premium (implied vs. realized volatility).
• EM (expected move) — the range the options market is pricing for a horizon.
• Greeks — delta, theta, vega, gamma — a position's sensitivities.

Market structure

• Spot — the current underlying price.
• Put wall / call wall — strikes with concentrated open interest acting as support/resistance.
• Gamma wall / flip — dealer-positioning levels where hedging behavior shifts.
• GEX — gamma exposure, by strike and sign.
• OI — open interest.

Risk classes

• Defined risk — capped loss (the comfortable default).
• Undefined tail — uncapped/unlimited loss potential.
• Pin risk — risk of price pinning a strike at expiration.
• Event stretch — an event (e.g. earnings) could push price beyond the expected move.
• Early assignment — risk of a short option being assigned before expiration.

Data & tiers

• Snapshot — the dataset every number is computed from.
• Standard — runs on the end-of-day (EOD) snapshot.
• Pro — adds intraday updates (rolling out over time).
• Plain / Pro read mode — how much shorthand a screen shows (not a data difference).