Trading glossary
19 pillar terms · primary-source citations · worked examples on live tickers
A working trader's reference for the metrics Tapeboard publishes. Every term is defined with a primary-source citation, a worked example on a real ticker, and a link to where the metric appears on the product. Pages refresh on the same Jan 15 / Apr 15 / Jul 15 / Oct 15 cadence as the rest of the editorial system.
Options & Volatility
-
GEX
Aggregate dealer-position gamma across an option chain. Positive GEX implies dealers buy dips and sell rips (volatility-suppressive); negative GEX implies the reverse (volatility-amplifying).
Read the definition -
IV RANK
Range-based, not percentile-based. IV Rank uses the highest and lowest IV prints over the lookback; IV Percentile counts the share of days below current.
Read the definition -
GAMMA RAMP
Plot of GEX (y-axis) vs hypothetical spot prices (x-axis). The zero-crossing is the "gamma flip" level.
Read the definition
Short Interest
-
Squeeze score
Gate: short interest >= 15% of float (latest published FINRA settlement, split-checked). Listed common stock, price >= $1, liquid, market cap >= $25M.
Read the definition -
FTD
Bi-monthly SEC dataset, lag of about two weeks. Counts unsettled share volume per ticker per day.
Read the definition -
Short interest
FINRA short-interest reports settle bi-monthly with a publication lag of about 10 business days from the report date.
Read the definition -
DAYS to COVER
Higher DTC means a slower unwind. Above 5 days is a meaningful liquidity constraint on short covering; above 10 is severe.
Read the definition -
Utilization
Daily-published, sourced from broker-dealer stock-loan books.
Read the definition -
Short interest RATIO
A liquidity ratio, not a timing signal. Higher DTC means a short unwind is harder and slower, which raises the temperature of a squeeze setup.
Read the definition
Order Flow
-
Relative volume
Time-of-day-aware. RVOL at 10:00 ET compares against the typical 10:00 ET running total, not the typical end-of-day total.
Read the definition -
DARK POOL PRINT
Dark pools are SEC-registered Alternative Trading Systems regulated under Reg ATS. Trades execute off-exchange but post to FINRA TRF in real time after execution.
Read the definition -
Options FLOW
OPRA is the consolidated US options price-reporting authority; every executed options trade reports to OPRA in real time.
Read the definition -
Momentum scanner
It ranks the present, not the past. The sort key is current momentum (for Tapeboard, 5-minute price momentum), refreshed continuously in market hours.
Read the definition
Market Structure
-
Trading HALT
Halts are called by the exchange, not by the company or by brokers. News pending and volatility are the two most common triggers.
Read the definition -
Short SALE restriction
Trigger: a 10% or greater decline from the prior day's close. Once active, SSR stays on for the rest of the session and until the close of the next one.
Read the definition -
T PLUS 1
Execution and settlement are different events. You own the economic exposure at execution; legal ownership and cash move at settlement.
Read the definition
Share Structure
-
FLOAT
Float is not share count. A company can have 900M shares outstanding but only 80M floating if insiders and restricted holders sit on the rest.
Read the definition -
Dilution
More shares, same company. Issuance lowers each existing share's claim on earnings and assets; the price often adjusts to reflect it.
Read the definition
Filings
-
FORM 4
Two-business-day filing deadline per Section 16(a) of the Exchange Act.
Read the definition
Last reviewed
This glossary index is reviewed quarterly along with the rest of the editorial-system review cycle, and immediately whenever a term's methodology changes. Last reviewed: 2026-05-04. Editor: Marcus Reilly.
See methodology for the full fact-check process, data sources for the per-vendor disclosure, and corrections for the public correction log.