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Greek Hedging (SPX) estimates the direction and size of daily dealer rebalancing flows implied by the options market.

Delta hedging (~$35.66B): suggests dealers may need to buy underlying (or futures) to stay hedged against price moves, implying potentially strong flow impact.
Vega hedging (~-$8.41B): exposure to changes in implied volatility; typically managed through repricing options, with the negative figure indicating declining volatility sensitivity.
Theta hedging (~$15.60M): the impact of one day passing on the dealer book; like vega, this is largely handled through option repricing, with time decay adding modestly to hedging needs.
Greek hedging: net notional dealer hedging that needs to be applied by the end of the day [@​wizofops](&lt;https://twitter.com/wizofops&gt;)
Source: http://vol.land</news:title>
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