Real-Time Dealer Regime
For SPY Options Traders
See what dealers are doing — free every morning. Get the exact levels delivered to your inbox.
Get the Full Snapshot — Free Every Morning
Exact Call Wall, Put Wall, Zero Gamma, Net GEX and Gamma Pressure delivered to your inbox at 9:15 AM ET.
Check your inbox tomorrow at 9:15 AM ET for your first snapshot.
Want real-time levels? View Plans →What is Gamma Exposure?
Gamma Exposure (GEX) measures how much options dealers must buy or sell the underlying asset to stay delta-neutral. When dealers hold large call positions, they buy on dips and sell on rallies — creating a "gravity" that pins price near the Call Wall. This is Long Gamma (positive GEX), and it produces range-bound, low-volatility conditions.
When dealers hold net put positions, they must sell into declines and buy into rallies — amplifying every move. This is Short Gamma (negative GEX), the regime associated with trend days, breakouts, and volatility spikes.
The Zero Gamma level (also called the Gamma Flip) is the strike where dealer positioning shifts from stabilizing to amplifying. It acts as a powerful technical level — price below it tends to see accelerated moves, price above it tends to revert.
Want Real-Time Levels — Updated Every 30 Seconds?
GEXBoard Dashboard shows Call Wall, Put Wall, Zero Gamma, Net GEX, intraday spot path, and options flow in real time. Starter plan from $9/mo — founder pricing locked forever.