Playbooks
Options Positioning Playbooks
Each Obsidian playbook documents one complete workflow: the setup conditions, the confirmation the Obsidian desk waits for, the invalidation price, and the mistakes that most often ruin the trade. Every playbook assumes a trader already understands the terms defined in the Obsidian glossary.
How to Read a GEX Heatmap: A Step by Step GuideA step by step method for reading a gamma exposure heatmap, covering colour, intensity, which cells matter, and the most costly mistake.Trading 0DTE With Gamma LevelsThe Obsidian desk workflow for trading same day expirations around gamma levels, covering timing, position sizing, and when to avoid 0DTE.Positive vs Negative Gamma RegimesHow to identify the current gamma regime and which tactics work in each, from mean reversion to trend following.Fading Price Into Gamma Walls: The Reversion PlayThe mean reversion playbook: fading moves into call and put walls, with the entry conditions, the confirmation required, and invalidation.Breakout or Fade: Choosing at a LevelA decision framework for choosing between fading a positioning level and trading the break of that same level, based on the gamma regime.Confirmation and Invalidation at a LevelWhat confirmation actually looks like at a positioning level, how to set invalidation before entry, and why waiting is so hard in practice.Position Sizing for Options TradersHow the Obsidian desk sizes every position from invalidation distance rather than conviction, and why sizing beats entry quality over time.The Obsidian Premarket RoutineThe fifteen minute premarket process the Obsidian desk runs before every session opens, and why preparation beats reacting during the day.Trading SPX and Index Options PositioningWhy index option positioning is more reliable than single stock positioning, how SPX differs from SPY, and why the desk watches both chains.Reading Positioning Around EarningsHow option positioning distorts ahead of an earnings release, why standard gamma levels stop working, and what actually matters instead.Trading Different Volatility RegimesHow to identify the prevailing volatility regime, and how to adapt targets, stop distance and position sizing to match current conditions.Trading a Gamma Flip Break: The Regime ChangeThe playbook for the regime change trade: what happens when price breaks the gamma flip, how to confirm the break, and the false break risk.Trading Monthly Options Expiration WeekWhat changes during monthly options expiration week: heavier pinning, charm driven drift, and the positioning reset in the sessions after.Common Mistakes in Positioning Based TradingThe errors that most often cost traders money when trading gamma exposure levels, from ignoring the regime to trading stale overnight levels.How to Review a Trading SessionThe Obsidian post session review process, the specific questions that surface repeatable errors, and why process is graded before outcome.The Fib Extension Continuation SetupAnchoring a trend based fib extension to premarket levels, choosing the right candle, and trading price cleanly through the midpoint level.The Fib Extension Reversal SetupHow the Obsidian desk uses a fib extension to confirm an intraday reversal after price has trended all session, and what counts as a break.Obsidian Desk Best Practices for Options TradersThe habits the Obsidian desk treats as non negotiable when trading positioning, and the four mistakes that most reliably cost members money.Building a Repeatable Trading ProcessHow to assemble the individual Obsidian playbooks into one consistent daily trading process, and why consistency beats any single edge.
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