Hermēs DocumentationTrader Playbook
User manual for futures traders — from options fundamentals to real-world playbook
Why This Manual Exists
Futures traders face a strange daily reality: what actually drives ES / NQ spot is rarely the futures book itself — it's dealer hedging flow from the options market above.
Hermēs translates that invisible force into a language a futures trader can use: a chart, a few levels, a short narrative. It tells you:
- Which strikes will likely magnet price today
- Where price will likely mean-revert vs trend-accelerate
- Whether dealers are on your side or against you
This manual will not call direction for you. It teaches you to read market structure, adding a dealer-flow filter on top of whatever futures system you already run (trend, ICT, Smart Money, Volume Profile, etc).
Who this is for:
- Intermediate ES / NQ / SPX / QQQ futures or CFD traders
- People who've heard "gamma, dealer hedge, 0DTE" but never got it systematically
- ICT / Smart Money / Volume Profile traders who want a "why" layer underneath the price
- NinjaTrader / Tradovate / MotiveWave / MT5 users missing an institutional options flow source
Learning Path
Allow 90–120 minutes in sequence. If you already know gamma / DEX basics, skip straight to Chapter 2.
① Options & Dealer Mechanics
Options 101 from a futures-trader lens: Delta / Gamma / Vanna / Charm, why dealers must hedge, and the behavioural difference between Long Gamma vs Short Gamma regimes.
② GEX 4-Layer Framework
Hermēs's core knowledge base. Derived levels — step 1 to step 4: Regime → Structure → Positioning → Flow, with Confluence scoring across layers.
③ Product Walkthrough
How to read HuntingFlow and the Tactical HUD — what every chart element means, plus subscription tiers and Discord / MotiveWave / MT5 integrations.
④ Futures Trader Playbook
Five real scenarios: morning routine, Gamma Flip reversal, Vanna Burn trend acceleration, Range Day pin, Extension Zone fade, EOD magnet.
Three Core Principles
Burn these in before reading the rest — every Hermēs feature is designed around them.
1. GEX is not a directional signal — it's a map of market structure
"Not predictive. Not directional. A map of where dealer hedging structure is concentrated."
Hermēs will not tell you ES goes up or down today. It tells you: if it rallies, 6020 is the cap; if it sells off, 5970 likely bounces; if it breaks 5950, dealer flow flips and accelerates the move.
2. Dealers don't predict — they hedge
Options market makers write calls / puts to capture the bid–ask spread, not to bet on direction. Once written, they must hedge their delta — that mechanical hedge is what shapes spot.
Understanding that one mechanical truth beats reading 100 candlesticks.
3. Confluence is the only real signal
A single gamma wall doesn't matter. What matters is multiple independent indicators stacking on the same strike:
- 2 layers = Moderate
- 3 layers = Strong
- 4+ layers = Exceptional ← Hermēs highlights these in purple
What This Manual Will Not Cover
Setting expectations:
| Not covered | Why |
|---|---|
| Options strategies (strangles, condors, collars) | You're a futures trader; you don't need to put on options positions |
| Implied volatility math | Hermēs already pre-digests it into Vanna / Charm signals |
| Candlestick patterns, ICT, Smart Money | Assumed prerequisite — this is a supplemental layer |
| Single-stock options flow (non-index) | Hermēs focuses on index options → ES / NQ futures |
Risk & Disclaimer
Hermēs is market-structure intelligence — not investment advice.
- Every level (HVL, C1, P1, D±, Ab1…) is a reaction zone, not a guaranteed reaction
- Dealer flow can be overridden by macro events (CPI, FOMC, geopolitics)
- Futures are leveraged; size and stops are your responsibility
- Levels shown inside MotiveWave / MT5 / NinjaTrader are an overlay — the entry decision is yours
No profit guarantee. No risk-management substitute.