Hermēs DocumentationUS Equity Trader Track
The Hermēs flow for US equity traders — sweep ETFs and single names with Market State, lock onto contracts carrying new money via options order flow, validate per-strike GEX and exposure in the GEX Data Center and Greek exposure windows, then build a structure and trade.
The Hermēs flow for US equity traders (single-name / ETF options) is: sweep for opportunities → lock contracts by real prints → validate per-strike structure → build a structure and trade. The core idea is to let actual trades narrow your attention to the few tickers and strikes where money is moving, then confirm tradability with per-strike GEX and liquidity.
Learning order (~30 min)
① Options & market-maker mechanics
② How to read GEX
③ Options Desk feature manual
Daily flow (in practice)
Sweep for opportunities
Open Market State → Ticker Scan and sweep ETFs and single names by IV/IVR, GEX, CVR, DEX, picking out tickers with structural or volatility anomalies.
Lock contracts by real prints
Use options order flow to read trade-by-trade sweeps and blocks — filter by premium, sector, expiry and structure to find where new money is concentrating. Multi-leg orders appear in the complex orders window with the whole ticket rebuilt server-side, leg ratios and all.
Validate per-strike structure
Cross-check the strike in the GEX Data Center and Greek exposure (per-strike 1D and heatmap 2D): thick structure with exposure pointing the same way is what makes a trade worth taking. Then confirm its position relative to key levels in the distribution band.
Build a structure and trade
Take the candidate contract into the Strategy Workshop, check the price × time P&L matrix and theoretical PoP, then execute.
Extra: spot block orders
When you need a spot-side clue, use Dark Pool to see where off-exchange blocks land and corroborate it against options flow.
Frequently used tools
Frequently asked questions
What should a US equity trader look at first?
Sweep ETFs and single names with the Market State scan, finding anomalies by IV percentile and GEX/CVR, then lock onto contracts with concentrated new money using options order flow (sweeps and blocks).
What tier do US single names need?
Market State and the Strategy Workshop are Pro windows; options order flow, complex orders, Greek exposure and dark pool belong to the Ultra institutional data family, and data access for most single names and ETFs also requires Ultra.
Options Trader Track
The Hermēs flow for options traders — set the volatility environment with Vol Intelligence (IV percentile/VRP/skew/term), pick a structure with the curve and implied distribution, build legs and compute PoP in the Strategy Workshop, and manage net exposure with the Portfolio.
Options & Dealer Mechanics
A 30-minute options primer for futures traders + dealer hedging mechanics