Tempest · Volatility in Skylit
How much movement are options paying for?
Tempest reads the move priced into every option chain and tells you whether that is a lot for that stock — measured on its own ruler, not the market's.
The problem
A volatility number means nothing without its own history
- An option price carries the market's guess of how far a stock will move. Reading that guess off the chain, name by name, takes time you do not have.
- SVX 100 is a crisis for SPY and an ordinary week for a meme stock. A raw number tells you nothing until you know what is normal for that ticker.
- Expensive options sometimes have an obvious reason — earnings, an FDA date, a rebalance — and sometimes do not. Finding out means checking several screens.
With Tempest
One reading per stock, ranked against its own past
Tempest turns the move priced into the options chain into a single reading per stock, then ranks it against that stock's own history rather than the market's. The radar shows which names have unusually cheap or expensive options today. Open any ticker for the move priced to the next close, the week and the month in percent and dollars, how that compares with what the stock has actually been delivering, which side of the chain is cheaper, and whether a known event sits inside the window. Tempest describes what options are pricing. It does not forecast direction, and it does not tell you what to trade.
How it works
Tempest, step by step
Rank the market on the radar
Tempest opens on the radar: one row per stock with its percentile, its yearly range, the move priced for the next session, and badges for things like earnings in five days. Sort by any column, or pick a preset such as Rich vol or Cheap vol.
Choose what normal means
Pick the horizon you care about — the next session, two weeks, a month, a quarter — and how far back usual reaches: one, three or five years. That choice drives the ranking, the presets and the group medians.
Open one stock
Search any ticker for its summary, SVX history with its usual range, the expected move against what the stock actually delivered, skew, premium imbalance, the term structure and the next earnings date.
Put the priced move on your chart
Add the Tempest plugin in Atlas to draw expected-move cones and levels on the chart you already trade from, with your own bands and horizons.
Capabilities
What you can do with Tempest
See the move priced into any stock
Read the move options are pricing to the next close, this week or this month, in percent and in dollars. Many traders use it as a yardstick for targets, stops and strike selection.
Tell rich from cheap, per stock
Every reading is ranked against that stock's own history, so a 61 that is expensive for one name and cheap for another is shown as what it is. Raw numbers are there too, but the percentile is the read.
Find out whether there is a reason
Earnings dates, the term structure and event markers on the history chart show when expensive options have a known cause — and when they do not.
Compare priced against delivered
The straddle and realized columns sit side by side, so you can see when options are charging for more movement than the stock has been making.
See which side is cheaper
Skew and premium imbalance show how calls are priced relative to puts, and which side of the chain is the cheaper one to own right now.
Look up what happened before
Setups shows past episodes of similar conditions for that same stock, so today's reading has company rather than standing alone.
Read the market's mood
The Market tab covers the S&P 500's volatility picture and Skylit Fear & Greed, with each stock's own 0–100 reading available on the radar.
Build your own scan
Filter on any field, including how a reading has been moving, and get alerted when a name qualifies.
Pairs with
Tempest with the rest of Skylit
Heatseeker
Tempest sizes the move; the heatmap shows the levels it would travel through. Tempest does not show dealer positioning — the Heatseeker board does.
Atlas
Draw Tempest's expected-move cones and levels on your chart, or open Tempest beside a live chart in the Aegis panel.
Talon
Ask in plain English instead of reading panels, and combine a Tempest reading with structure and flow in one answer.
Earnings context in term inversion alerts(in the guide, opens the docs in a new tab)
Term inversion alerts now say in their message whether scheduled earnings overlaps the reading. When the alerts fire is unchanged.
Earnings in the curve(in the guide, opens the docs in a new tab)
The Term structure section shows whether the nine-day and thirty-day readings are before, spanning or including the scheduled earnings report. Use the same labels in custom scans and scan alerts, or ask Talon about them.
One Alerts page and notification settings(in the guide, opens the docs in a new tab)
Alerts now live on a single Alerts page, with one notification settings screen. Tempest confirms when an alert is created, and the bell has a Manage alerts link. Atlas and Tempest link to All alerts.
How do I get access to Tempest?
Tempest is included with Pro. Open the Heatseeker menu in the sidebar and pick Tempest, or tap Tempest in the nav bar on a phone.
What is SVX?
The Skylit Volatility Index: one reading per stock for how much movement options are pricing. It is shown as an annual percentage, and it sizes the swing rather than pointing a direction.
Is SVX 100 a lot?
On its own, no. For SPY that would be a crisis; for a meme stock it can be an ordinary week. That is why the radar ranks by each stock's percentile against its own history rather than by the raw number.
Does a high reading mean options are overpriced?
No. High means expensive, not mispriced. Premium turns out inflated only if the stock then moves less than was priced, which nobody knows in advance. Tempest describes today's pricing; it does not forecast.
Why do readings stop changing after the close?
Readings refresh during market hours and freeze at the close, so an after-hours reading is the last one of the session rather than a stale live number.
Does Tempest tell me what to trade?
No. It describes what options are pricing and how that compares with the stock's own history. Every decision stays with you, and Tempest is educational rather than financial advice.
Know what a move is worth before you pay for it
Tempest reads the move priced into the chain and ranks it against the stock's own history. Educational, not financial advice.