Gamma Exposure (GEX) measures how much options market makers need to hedge when the underlying stock moves. It reveals hidden levels where dealer hedging will either dampen or amplify price movement.
The Metrics
Flip PointThe price where dealer behavior flips. Above it, dealers dampen moves (mean-reverting). Below it, dealers amplify moves (volatile). This is the most important level on the dashboard.
Total GEXNet gamma exposure across all strikes. Larger positive values mean stronger mean-reverting forces. Negative values mean the market is in a volatile regime.
SupportThe strike with the highest positive gamma below spot price. Dealers hedge heavily here, creating a natural "floor" where selloffs tend to slow down.
AccelerantThe strike with the most negative gamma near spot. If price reaches this level, dealer hedging amplifies the move — momentum accelerates in the direction of the trend.
Gamma Regimes
Positive GammaPrice is above the flip point. Dealers sell rallies and buy dips, compressing volatility. Expect mean-reversion and tighter ranges.
Negative GammaPrice is below the flip point. Dealers sell into selloffs and buy into rallies, amplifying moves. Expect wider ranges and potential for sharp moves.
Reading the Chart
Each horizontal bar shows the net gamma at a strike price. Green bars (positive gamma) are strikes where dealers absorb movement. Red bars (negative gamma) are strikes where dealers amplify movement.
Peak tracking: When a bar shrinks from its session high, a faded ghost appears behind the current bar , showing where gamma previously peaked. Hover any bar to see both current and peak values. This helps you spot gamma decay in real-time.
Quick Tips
Watch for the flip point relative to spot price — when they converge, the market is at a decision point. If support drops away from spot, the "floor" is weakening. If the accelerant moves closer to spot, the cushion before amplification kicks in is shrinking.
Data refreshes every 60 seconds. Click the refresh button for an immediate update. Switch between SPY, QQQ, and IWM using the tabs — each tracks its own peak history for the session.