NK
Founder · AZTMM HLDGS LLC
Nikhil Kothari
Independent quantitative research on US equity options flow, dark pool positioning, and market regime — the quant research shop I wanted to read but couldn’t find at the retail tier.
Verify the work, not the story: the data pipeline, the nightly self-audit, and the scored history behind the Accountability Ledger are all public in the open data repository.
Who I am
I started trading at 16. Curiosity-driven at first — equities — reading everything I could find about how markets actually work beneath the price tape. By 2018 I was trading options actively and building my own instruments to read institutional positioning. Over the next several years the practice evolved into something more systematic: flow analysis, dark pool pattern recognition, regime detection, composite index construction. The gap between what retail-tier research publishes and what actually moves markets became obvious. AZTMM is my answer to that gap.Education
MS Finance · Hult Cambridge
Trading since
2017 · equities & options
Focus
Options flow & market structure
Based
Somerville, MA
Mission
The retail trading publication landscape is stratified: hot-take newsletters on one end pushing “top picks” with no statistical context; institutional research on the other end locked behind $50K Bloomberg terminals. Between them is a void — no publication writing serious quant research for sophisticated individual traders at a free tier. AZTMM exists to fill that void. Every report is research-grade, retrospective, numeric, and regime-aware. The framework is disclosed at the category level — the inputs that go into the composite, the structure of the regime classifier, the factors behind Conviction Scores. No black boxes. No price targets. No top picks. No premium signals.The three principles: show the math, situate in regime, never predict, never prescribe.
What AZTMM publishes
Four products, all free, all end-of-session retrospective research.- Daily Pulse — every trading day after the close. Top 15 options flow + Top 15 dark pool prints, concordance scoring, regime context.
- Weekly Pulse — every Saturday morning. Full retrospective with sector heatmap, Conviction Scores 1–10, confluence markers, and conditional observations to monitor.
- Pulse Lab — live MPI (multi-factor composite, 0–100) and probabilistic Regime Classifier, updated each market close.
- Trading Academy — all 55 lessons live across 8 modules, free, no gating.
Methodology brief
- Flow data: consolidated end-of-session feed for OPRA-routed unusual options activity and institutional dark-pool prints from major venues.
- Macro data: consolidated exchange feeds for index levels, Treasury rates and credit spreads, and volatility term structure indicators.
- Market Pulse Index (MPI): a multi-factor composite scaled 0–100, weighted across breadth, volatility, credit, term structure, and flow concordance, scored against a rolling historical baseline.
- Regime Classifier: a probabilistic regime framework (Bull / Chop / Crisis) trained on a long historical window of broad-market pricing data using standard regime-fitting techniques, with a published regime-persistence framework.
- Conviction Scores: retrospective 1–10 score per name, computed from five factors: notional rank, repeat flow, sector confluence, regime alignment, and dark pool concordance.
Legal posture
AZTMM is a research publication. Published by AZTMM HLDGS LLC under the publisher exemption established in Lowe v. SEC (1985). AZTMM is NOT an investment adviser, broker-dealer, or registered with the SEC. The content is impersonal, non-advisory, and based on general analysis — no personalized recommendations, no tailored advice, no portfolio management. Past flow patterns do not predict future returns. Nothing on this site is a solicitation to buy or sell any security.
Who I’m writing for
Sophisticated individual traders who read. The Weekly Pulse is written for someone who understands what C/P ratio means, why a +2.9σ print matters, and what a regime classifier does. The Academy exists for readers who want to become that person. If you’re looking for “buy this, target $X” content, AZTMM isn’t for you. If you’re looking for research that treats you like a thinking reader, welcome.Contact
Questions, corrections, collaborations — contact form here or email nikhilkothari@aztmm.com. I read everything and reply when I can. If you find a methodological error or data inconsistency in any published report, please flag it; I update the report with a visible change-log note.Built in public
Honest engineering signal — what shipped on the site in the last 7 days.Commits / 7d
~50
Posts / 7d
5
Tracker refreshes / 7d
35
Source: aztmm1/aztmm-mpi-data · Daily/Weekly Pulse posts · tracker worker schedule. (Counts are approximate.)