eksOr - Charm + Vanna Window (Monthly OPEX)

What This Does
This indicator highlights the monthly “Charm + Vanna window” around standard monthly options expiration (the 3rd Friday, i.e., monthly OPEX). It’s a time-based overlay that shades either:

• Pre-OPEX: from the first calendar day of the month through the day before OPEX, or
  
• Post-OPEX: from OPEX (3rd Friday) through month-end.
  

Use it to quickly see periods when index/stock flows are often influenced by charm (delta change from time decay) and vanna (delta change from IV moves), which can impact intramonth behavior.

How It Works

• Automatically computes the third Friday each month (monthly OPEX) in your chosen timezone.
  
• Lets you nudge the default window with Start/End calendar-day offsets (±10) to match your playbook.
  
• Optionally draws vertical dotted lines and S/E labels on the bars where the window starts/ends.
  
• Shows a compact table (top-right) with the current mode and the Start/End dates of the active month.
  
• Triggers alerts on the exact bars where the window STARTS and ENDS.
  

Inputs

• Window Mode: Pre-OPEX (start → OPEX-1) or Post-OPEX (OPEX → month end)
  
• Timezone: Select from common exchanges/regions
  
• Start/End Offsets: Shift boundaries by calendar days (e.g., start +2, end −1)
  
• Style: Toggle shading, transparency, color, and start/end lines/labels
  

Why it’s useful

• Many traders track the pre-OPEX build-up and post-OPEX reset for potential flow-driven behavior.
  
• This tool doesn’t predict direction; it frames time so you can align other signals (price, breadth, vol, dealer positioning, etc.) within a consistent monthly structure.
  

Notes & limitations

This is not a signal or guarantee of charm/vanna effects—just a calendar window commonly associated with them.

OPEX logic uses the standard 3rd Friday (monthly equity/index options). It does not account for special exchange holidays or instrument-specific settlement quirks.

For best results, combine with your own vol/positioning dashboards (IV, skew, gamma exposure, open interest changes, etc.).

Tips

Use Pre-OPEX mode to visualize potential decay/roll dynamics into OPEX.

Use Post-OPEX mode to frame potential position resets into month-end.

Adjust offsets to match how your market/instrument tends to behave (e.g., start earlier if flows show up sooner).