> ## Documentation Index > Fetch the complete documentation index at: https://docs.openfinance.tech/llms.txt > Use this file to discover all available pages before exploring further. # Reading an Alchemy result > Once a run finishes, here is how to read the top half of the result, from the market's odds and Alchemy's own number to the three views you can trade. Whatever event you sent, the result comes back in the same shape, so once you know it you can read any run in under a minute. The sections below the basket have a page of their own, [Deeper analysis](https://docs.openfinance.tech/alchemy/deeper-analysis.md). ## The order of the page A result reads in the order you would decide: 1. **Summary card.** What the market prices, and what Alchemy thinks. 2. **Alchemy take.** The call in plain words, and the three views. 3. **Basket trades.** The trades for the view you picked. See [Basket and budget](https://docs.openfinance.tech/alchemy/trading.md). 4. **Alchemy Ontology**, **Trade Exposure** and **Alchemy Inefficiency Trades.** The reasoning and other ways to trade it. 5. **All trades.** Everything for the view, folded. 6. **Strategy rules.** Only under Alchemy's pick. The last line of every result reads: "Ideas, not advice. Marks are live; odds are Polymarket mid prices." It also names the model that wrote the run. ## The summary card The first card answers the first two questions: what the market thinks, and whether Alchemy agrees. ![Alchemy summary card showing the Polymarket question, its odds with the change today, eight stat tiles, the Scenarios and odds ladder, the On the same curve panel and four key dates](https://mintcdn.com/openfinance/-pu5SodoQuhEwuR-/images/alchemy/alchemy-result-summary.png?fit=max\&auto=format\&n=-pu5SodoQuhEwuR-\&q=85\&s=2289da1dec9d8114da24bed805ee054c) The summary card: headline question and odds, eight tiles, scenarios, related markets and key dates ### The headline question and its odds At the top sits the Polymarket question Alchemy chose as the best match for your event, with its picture. On the right, **Odds on Polymarket** shows the market's chance of Yes, and a line such as "+1.8 pts today" when the odds moved today. If no market prices your event, the title is Alchemy's own wording, the odds read "Current odds" with a dash and "no market prices this yet". The trades then rely on related markets and instruments. ### Market odds vs Alchemy odds Two numbers matter most, and they mean different things: * **The market's odds** are the price of a Yes share on Polymarket. A Yes share at 9ยข means traders, as a group, price a 9% chance. * **Alchemy odds** are the AI model's own estimate that the event happens. It is an opinion, not a price, and nobody trades at it. The gap between them is the **Edge**. If the market says 9% and Alchemy says 20%, the edge is +11 pts, and Alchemy's pick will lean Yes. A large gap is a reason to look closer, not a guarantee: the market may know something the model missed. ### The eight tiles The same eight tiles appear on every result, in the same order. A tile shows a dash when its number is not known. Hover a tile to see its definition in the app. | Tile | What it means | | - | - | | **Alchemy odds** | Alchemy's own probability that the event happens. Green when it is above the market, blue when below | | **Edge** | Alchemy odds minus the market's odds, in percentage points | | **Resolves** | When the outcome is known: the headline market's end date | | **Volume** | Dollars traded on the headline market | | **Liquidity** | Dollars resting on the headline market's order book, a rough guide to how much you can trade without moving the price | | **Exposures** | Industries and companies the event reaches | | **Routes** | Ways to trade those exposures, across all venues | | **Venues** | How many venues those routes trade on | ![Eight Alchemy stat tiles: Alchemy odds 20%, Edge +11 pts, Resolves, Volume, Liquidity, Exposures, Routes and Venues](https://mintcdn.com/openfinance/-pu5SodoQuhEwuR-/images/alchemy/alchemy-stat-tiles.png?fit=max\&auto=format\&n=-pu5SodoQuhEwuR-\&q=85\&s=373197db3afb0f97a61003ab3b7e25d6) The eight tiles, always in this order ### Scenarios and odds The ladder on the left breaks the event into outcomes. Each row shows: * **Market**: the Polymarket odds for that outcome, or a dash and "Not listed" when no market prices it. * **Alchemy**: Alchemy's odds for the same outcome. * **The edge** in points, in green when Alchemy is higher and red when lower. * A bar: the filled part is the market's odds; the marker is Alchemy's. A row marked "Implied by the two markets above" is worked out from other markets rather than priced directly. Under the ladder, a small chart shows the headline market's odds over the last month. ### On the same curve and key dates * **On the same curve** lists up to four other markets on the same question, such as the same event by a different date, with their odds. When there is no headline market the panel is called **Related markets**. The lightning button on a row opens an order ticket to buy Yes on that market. * **Key dates** shows up to four dates that matter for the event, such as a scheduled meeting or a past sell-off. ### Captured and Replay The bottom of the card says when the result was captured, for example "Captured Nov 11, 1:28 AM", and how long a live run took. Odds, tiles and the prices on the basket cards are frozen at that moment; only the card charts load live. A saved sample also shows **Replay**, which plays the steps again. ## The Alchemy take ![Alchemy take card with the written call, the Detailed analysis button, and the Your view tabs Alchemy's pick, Trade YES and Trade NO above the Basket trades section](https://mintcdn.com/openfinance/-pu5SodoQuhEwuR-/images/alchemy/alchemy-take-views.png?fit=max\&auto=format\&n=-pu5SodoQuhEwuR-\&q=85\&s=fdb33f6b54fe76c79e0f2b4c0bebe7c5) The Alchemy take, the three view tabs, and the start of the basket The take is Alchemy's call in a few sentences: where the event stands, why the market's price looks right or wrong, and what Alchemy would trade. Click **Detailed analysis** to open the evidence: * A short summary of the event. * **Where it stands today** and **What is priced in**. * A table per venue with three columns: **Instrument**, **Lean** (for example Buy Yes or Short) and **Channel**, the way the event moves that instrument. ![Detailed analysis panel of an Alchemy result with the summary paragraph, Where it stands today, What is priced in and a Ranked picks table with Instrument, Lean and Channel columns](https://mintcdn.com/openfinance/-pu5SodoQuhEwuR-/images/alchemy/alchemy-detailed-analysis.png?fit=max\&auto=format\&n=-pu5SodoQuhEwuR-\&q=85\&s=5819daf722d705533109bede69f163c2) Detailed analysis: the summary, what is priced in, and the reasoning per trade ## The three views Under **Your view** you pick how to read the event. The view drives everything below it: the basket, All trades, and the direction of the effects in the Ontology. | View | What it shows | Use it when | | - | - | - | | **Alchemy's pick** | Alchemy's own ranked basket across venues, with each trade's share of the budget. The tab says which way it leans, for example "Yes at 20% by Alchemy's odds" | You want Alchemy's best single plan | | **Trade YES** | Trades that pay if the event happens. The tab carries a short label of the outcome | You believe it will happen | | **Trade NO** | Trades that pay if it does not happen | You believe it will not | ![Your view tabs with Alchemy's pick (leans Yes), Trade YES and Trade NO, each with a short label, and the If it happens line below](https://mintcdn.com/openfinance/-pu5SodoQuhEwuR-/images/alchemy/alchemy-view-tabs.png?fit=max\&auto=format\&n=-pu5SodoQuhEwuR-\&q=85\&s=717b85eaab86da9f2bc358336688a890) The view tabs: the pick says which way it leans and at what odds Under the tabs, a line spells out the world you are trading: **If it happens** or **If it doesn't**, followed by what that outcome means. > [!TIP] > > Read Trade YES and Trade NO even when you agree with Alchemy's pick. Seeing what pays in the other world shows you what you are betting against. ## How to read a result well * **Start with the edge.** If Alchemy and the market agree, there is little to trade on the event itself. * **Check Resolves.** A trade tied to an event a year away ties up money for a year, and perps pay or earn funding all that time. * **Check Liquidity before sizing.** A thin market can move when you buy. * **Check Captured.** A result from last week may no longer match the market, and its tickets start from the old prices. Ask again for fresh numbers. * **Open Learn on a trade** before you place it. See [Basket and budget](https://docs.openfinance.tech/alchemy/trading.md). ## Next > [card] [Deeper analysis](https://docs.openfinance.tech/alchemy/deeper-analysis.md) > > Ontology, Trade Exposure and Inefficiency Trades. > [card] [Basket and budget](https://docs.openfinance.tech/alchemy/trading.md) > > Size the trades for your view. 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