# Expected Move

The options-implied range around price for every horizon, with today's 1D band and how much of it is used.

**Expected Move** draws the range options imply around the current price for
each number of days ahead, as a cone that widens with time. Today's band is
marked as **1D MAX** and **1D MIN**, with the session's high and low beside it.
The header shows the one-day move in points and percent, and how much of it the
session has already used.

## Practical application

![Expected Move widget, illustrative example: the session has used 95% of the one-day expected range](https://q-bitf.com/docs-img/expected-move.png "Illustrative example data, not a real session. NQ at 27,075: 1D expected move ±318.86 (1.18%), from 26,756.14 to 27,393.86; session high 27,249.1 and low 26,945.78, 95% of the range used.")

**Reading it.** Options price a one-day move of **±318.86 points (1.18%)**,
a band from 26,756.14 to 27,393.86. The session has already traded from
26,945.78 up to 27,249.1, about 303 points, so the header reads **95%** used.
Further out, the cone widens to about ±594 points for the expiry four days
away and ±764 for the one a week away.

**What it means.** Most of the move options priced for today has already
happened. Extending the range much further would take news or a regime change,
not ordinary flow.

**How to use it.**

- **High percentage used late in the session:** fade moves toward the session
  extremes rather than chasing breakouts; targets beyond 1D MAX or 1D MIN are
  less likely without a catalyst.
- **Low percentage used early:** there is room left; a trend day is still
  possible.
- **Price outside 1D MAX or 1D MIN:** a bigger-than-typical day. The band is
  one standard deviation, so roughly one session in three ends outside it;
  respect the move, and size down.
- Use the wider cone points to set swing targets and stops for trades held
  past today.