Understand how Gamma Exposure works, how market makers position themselves, and how to use dealer positioning data in your trading decisions.
The foundational concept behind dealer positioning. Learn what GEX measures, how it's calculated, and why it creates structural support and resistance in the market.
Read article →Call Walls and Put Walls are the price levels with the highest gamma concentration. Learn why they act as magnets and how dealers defend these strikes.
Read article →The Zero Gamma level is where dealer hedging behavior reverses. Above it, dealers suppress volatility. Below it, they amplify it. Learn how to trade the flip.
Read article →When dealers are long gamma they stabilize price. When they're short gamma they chase it. Understanding the regime is the single most important context for intraday traders.
Read article →Zero-day-to-expiry options have exploded in volume. Learn how 0DTE gamma accumulates intraday, how it pins price near key strikes, and why it fades after the close.
Read article →Market makers hedge their options books continuously. That hedging creates predictable directional pressure. Learn the mechanics and how to read it on GEXBoard.
Read article →Vanna and Charm are second-order Greeks that drive dealer hedging flows throughout the session. Learn why IV drops cause melt-ups and how time decay creates mechanical drift into the close.
Read article →Monthly options expiration week creates the largest structural gamma event of the month. Learn why price pins, volatility is suppressed, and what happens to the market after expiration.
Read article →Market makers continuously delta-hedge their options books, creating flows that shape intraday price behavior. Understand the mechanics behind the structural levels GEXBoard measures.
Read article →A complete visual guide to reading Gamma Exposure charts. Understand the bars, key levels, Call Wall, Put Wall, Zero Gamma line, and how to use them for trading decisions.
Read article →Two ways to measure dealer gamma — one captures structural positioning, the other captures intraday flow. Learn the key differences and when to use each method.
Read article →Open interest is the foundation of GEX analysis. Learn what it means, how it differs from volume, and why high-OI strikes create structural price levels that move markets.
Read article →SPX options carry the largest gamma exposure in the market. Learn why index options drive S&P 500 price action, how they differ from SPY, and how to trade around them.
Read article →Implied volatility directly affects how much gamma dealers carry and how aggressively they hedge. Learn how IV changes reshape GEX levels and why VIX matters for gamma analysis.
Read article →The GEX Heatmap shows gamma exposure across all strikes and expirations in a single view. Learn how to spot gamma clusters and identify the strongest structural levels.
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