SPX Greek Hedging

Greek Hedging (SPX) estimates the day’s dealer rebalancing flows implied by the current options book essentially how much trading may be required for dealers to stay hedged as prices and volatility move.

Here the largest signal is Delta hedging (-$15.1B), indicating substantial price-linked hedging flows that could require dealers to sell underlying exposure as the market moves. Vega hedging (-$3.08B) shows notable sensitivity to changes in implied volatility, meaning volatility shifts may also trigger additional hedging adjustments. Theta ($31M) represents the smaller, steady impact from time decay as options gradually lose value.

Source - Vol.land