Reference · Language · Calc

Net premium

Directional. Positive is net bullish. Negative is net bearish.

net = (call ask + put bid) − (call bid + put ask)

Calls bought (ask) and puts sold (bid) are bullish. Calls sold (bid) and puts bought (ask) are bearish. Prints with no signed side — mid — are excluded. They may still sit in gross premium.

This is not aggression. Aggression treats put buying as positive. That number exists in some tools. It is not net premium here, and it is not labeled bullish or bearish.

Call premium minus put premium, with no side, is also not net premium.