Current volume versus a strike's own recent baseline — how anomalies are flagged.
Relative volume (RVOL) compares current volume to a strike's or symbol's own recent baseline rather than an absolute threshold. A 500%+ spike on a strike that was dead yesterday is far more informative than raw contract counts, which is why RVOL — not absolute volume — is the core anomaly signal.
More terms: Gamma wall · Delta neutral · Gamma · 0DTE options · Dealer hedging · Call wall