Thermography

Volume heatmap

Strike x time volume matrix with call/put USD split and an 11-Greek overlay. One row per strike per 10-minute cycle, aggregated across all expirations at that strike. Source table: deribit_options_volume_heatmap, written every cycle by the pipeline. Use it to see where capital concentrates across the strike ladder over time, and to overlay Greek structure on that volume. Rows arrive at your tier cadence, so aggregate client-side if you want coarser bins.

GET/v1/thermography/volumecoreproalpha

Query Parameters

coinstringrequired

Underlying asset.

e.g.BTCETHSOL

min_volumenumberoptional

Only strikes with total_volume_usd above this. Use it to drop the empty tail of the ladder.

e.g.010000

fromstringoptional

Start UTC (ISO 8601). Default: latest snapshot.

e.g.2026-05-12T00:00:00Z

tostringoptional

End UTC (ISO 8601). Default: now.

e.g.2026-05-14T00:00:00Z

limitintegeroptional

Max rows returned. Default 500. The effective ceiling is your tier row limit, see Tiers and Limits.

e.g.2000

Response Schema

Fields marked pro require a Pro subscription. Fields marked alpha require Alpha.

Field	Type	Tier	Description
`timestamp`	`datetime`	core	Snapshot time in UTC, aligned to a 10-minute boundary.
`coin`	`string`	core	Underlying asset.
`strike`	`float`	core	Strike price. All options at this strike aggregated across expirations.
`call_volume_usd`	`float`	core	Call trading volume in USD at this strike during this time bin.
`put_volume_usd`	`float`	core	Put trading volume in USD at this strike during this time bin.
`total_volume_usd`	`float`	core	Total volume (call + put) in USD.
`avg_call_delta`	`float`	core	Average call delta at this strike during this bin.
`avg_put_delta`	`float`	core	Average put delta at this strike during this bin.
`avg_gamma`	`float`	core	Average gamma across all options at this strike.
`avg_vega`	`float`	core	Average vega across all options at this strike.
`avg_theta`	`float`	core	Average theta across all options at this strike.
`avg_iv`	`float`	core	Average implied volatility at this strike.
`avg_charm`	`float`	alpha	Average charm (delta decay rate) at this strike.
`avg_vanna`	`float`	alpha	Average vanna (delta sensitivity to IV) at this strike.
`avg_vomma`	`float`	alpha	Average vomma (vega convexity) at this strike.
`avg_speed`	`float`	alpha	Average speed (gamma sensitivity to spot) at this strike.
`avg_color`	`float`	alpha	Average color (gamma decay rate) at this strike.
`avg_zomma`	`float`	alpha	Average zomma (gamma sensitivity to IV) at this strike.

Suggested Calculations

Not included in the API response. Compute these client-side from the fields above. Formulas and context provided.

FieldTypeInputsexpand all

▶volume_heat_intensityfloatclient-sideWhich cells in the heatmap are actually hot?expand

Which cells in the heatmap are actually hot?

For each time bin, divide each strike's total_volume_usd by the maximum total_volume_usd across all strikes in that bin. Result is 0 to 1, where 1 = the hottest strike in that time slice. Normalizing per-bin lets you see relative intensity even when overall volume changes between sessions.

Inputstotal_volume_usd

Per-bin normalized volume intensity

\text{heat} = \frac{\text{total\_volume\_usd}(K, t)}{\max_j \text{total\_volume\_usd}(K_j, t)}

Range0 to 1. Above 0.7 = hot zone.

▶greek_volume_alignmentstringclient-sideIs volume landing where Greeks are largest?expand

Is volume landing where Greeks are largest?

Compare high-volume strikes with high-gamma or high-vega strikes. When volume concentrates at the peak gamma strike, dealer hedging amplifies price moves. When volume concentrates at peak vega strikes, IV is the trade, not direction. Misalignment (volume far from Greek peaks) usually means flow is speculative, not structured.

Inputstotal_volume_usdavg_gammaavg_vega

▶charm_weighted_volumefloatclient-sideVolume at strikes where delta is decaying fastestexpand

Volume at strikes where delta is decaying fastest

Multiply total_volume_usd by abs(avg_charm). High values flag strikes where both activity and delta decay are large. These are the strikes that will force the most dealer rebalancing overnight. If a single strike dominates this metric, watch for next-day magnet behavior.

Inputstotal_volume_usdavg_charm

Charm-weighted volume

\text{charm\_weighted} = \text{total\_volume\_usd} \times |\text{avg\_charm}|