Platform
The Cipher Platform
The Cipher platform is the options and liquidity terminal built by the Obsidian desk for the Obsidian desk. Every Cipher feature documented here runs on a trader's own broker key, which is what separates the Cipher platform from a conventional data subscription.
The BYOK Advantage in Options SoftwareBring Your Own Key explained: why running the Cipher terminal on your own broker key beats a shared vendor feed on speed, privacy and limits.Free GEX Data: What the Limits Actually AreFree gamma exposure tools cap requests, exclude index symbols and cache responses. Here is what each limit costs a trader.Cipher vs Standalone GEX ToolsHow the Cipher terminal differs from standalone gamma exposure tools and free GEX heatmap sites, and which one a trader should start with.How to Connect Your Broker Key to CipherStep by step setup for connecting a broker API key to the Cipher terminal, which permissions are needed, and what to do if the key fails.How Cipher Handles Your Market DataThe Cipher data privacy model: what Obsidian stores, what Obsidian never sees, and why the distinction matters.Why Obsidian Does Not Resell Market DataObsidian distributes no market data on any tier. Here is the reasoning behind that decision and what it means for members.The Cipher Strike Matrix ExplainedHow the Cipher Strike Matrix ranks strikes by combined gamma and vanna exposure to surface tradable levels instead of raw exposure bars.Cipher Term Structure Views ExplainedThe four Cipher term structure tiers (1EXP, Compact, Full and Leap) and which trading horizon each one serves.Cipher XRAY: Exposure on the ChartXRAY overlays gamma and vanna exposure directly onto the price chart, so breakout zones, pin zones and reaction zones sit in visual context.Reading GEX in Cipher: Pin or SpinPositive GEX makes price sticky and negative GEX makes price slippy. How the Obsidian desk reads each condition in the Cipher Strike Matrix.Reading VEX in Cipher: Dealer ZonesVanna exposure reveals where dealers are forced to buy or sell, the hidden layer beneath a gamma read, and when to prefer the VEX view.Cipher Sniper Mode: Gamma and Vanna CombinedSniper combines gamma and vanna exposure into one view to surface the strongest near term structure, the levels both forces defend at once.Cipher Night Vision: Overnight PositioningNight Vision shows how dealer positioning shifted overnight, so a trader reaches the open already knowing which levels still matter today.Cipher Spyglass: Liquidity and Flow ContextSpyglass surfaces where liquidity concentrates, so a trader can judge whether a positioning level has the depth behind it to survive contact.Cipher Flash: Setup Scanning and RankingFlash scans for positioning setups and ranks each setup by a calibrated edge score built from realised outcomes.Cipher Trident: Multi Timeframe ConfluenceTrident checks whether positioning levels agree across short, medium and longer dated expirations before a trader commits size to a level.The Obsidian Trading Journal for Options TradersA trading journal built around positioning context, recording which level was traded, the volatility regime, and whether the level behaved.Obsidian Pricing Explained: Membership and BYOKWhat the Obsidian membership includes, what the BYOK model means for total cost, and why there is no separate market data charge at all.Getting Started With Cipher and ObsidianThe first week inside Obsidian: connect a broker key, learn to read the session levels, then build a repeatable daily process around both.
Want the Obsidian desk reading levels beside you?
The Obsidian desk runs this process live every session, and the Cipher terminal computes every level from your own broker key under BYOK. Obsidian distributes no market data.