Spx gamma exposure chart Dealers in these positions buy into higher markets, and sell as markets fall. Jun 17, 2020 · What we mean is the positioning in SPX options is just very small as seen in this chart below which maps total SPX call & put gamma. Greeks are calculated from current market prices using the Black-Scholes model. When GEX is high, the option market is implying that volatility will be low. Gamma architects. Powered By TradingView's Advanced Charts. gamma exposure before they happen. . 09; SPX Gamma Notional: -$579 MM; SPY Gamma Notional: -$423 MM; SPX Volatility Trigger: 4420; SPY Volatility Trigger: 440; SPX Zero Gamma: 4422; The SPX Vanna Model for August 19 showed a significant downside skew indicating market makers would need to sell ES futures to hedge their delta exposure as price moved down. Gamma Exposure (GEX) is a valuable tool for analyzing supply and demand in the options market. FLEX Options Feb 10, 2025 · This article will guide you through the basic process of interpreting gamma exposure in terms of dealer positioning and its effect on the market due to hedging activities so that you may gain the most value possible from our SPX gamma profile charts. When GEX is low, volatility is high, and while we expect a choppy market, further losses are unlikely. Checked the pin messages in the discord. Analyze the latest SPX options greek exposures on Unusual Whales. If you compare this to the “Gamma Notional” scatter chart (3rd below in green) you can see that the similar expansion appears to occur more around the $1bn mark. The gamma exposure depends on gamma, a measure indicating the potential delta-hedging activity. Dec 13, 2023 · SPX Gamma Exposure Concentrations Big gamma concentrations often act as magnets, drawing price into them. 99. Jun 26, 2024 · Chart Snapshot. The code above gives us the signals shown in the chat. Net gamma exposure reflects the difference in call gamma and put gamma for the strike across the selected expiration dates. Options Overview Gamma Calculator Pivot Charts. Gamma exposure highlights important price levels where there is significant gamma based on market positioning and open interest. ️ SPX Gamma Exposure Part Feb 9, 2023 · Graphic: Retrieved from Physik Invest. A Closer Look at SPY: Gamma Exposure by Strike. Keep tabs on your portfolio, search for stocks, commodities, or mutual funds with screeners, customizable chart indicators and technical analysis. This reinforces directional moves. These values help option traders understand various aspects of option price sensitivity and the potential impact of market factors on their positions. This chart comes courtesy of The primary meaning of gamma is an acceleration in directional exposure, and therefore what a gamma profile shows us is where directional exposure is likely to pick up the most. 52, and vanna exposure of -513767637. Some key figures: Total gamma decreased from 520M to only 367M, which should open the door to more vol tomorrow and Feb 20, 2025 · The gamma exposure (GEX) by strike highlights strike prices across expiration dates with the highest gamma exposure. Sep 11, 2024 · Strike Plot: The Strike Plot reveals the real-time market maker positions across SPX strikes for Gamma Exposure (GEX), Open Interest (OI), and Net Open Interest (Net OI). The key differentiator is the expansion of volatility that seems to occur around zero gamma (black line, first chart). Ugh I don't know, it sounds complex. This indicator was created by the research platform SqueezeMetrics. Oct 31, 2024 · Real GEX Levels with Seamless Auto-updates for 5 U. The chart above displays SPY's Gamma Exposure (GEX) by strike price, with SPY currently trading at $589. New data reveals in this article that the gamma exposure effect is getting stronger than ever. Given that gamma (acceleration of directional exposure) becomes stronger approaching expiration, the rise of zero DTE means that more volume (the total shares being traded) is now using more gamma. Utilize our Supply & Demand zones, gamma levels, and 3D GEX model. The GEX value that one calculates with the method I have outlined above is the gamma exposure per $1 move in the underlying. These observations can provide insight into how those same customers may react in specific price areas. Do you also frequently stumble across someone saying or […] Nov 19, 2023 · 1-click retrieval for a thinkScript for use on ThinkOrSwim. SPX 0-DTE Chart. Guys have come up with different trade setups using gex. This article explores how GEX levels influence market dynamics and how traders can utilize this information in their trading strategies. 04, charm exposure of -23664680. Sep 11, 2023 · In other words, as dealer gamma exposure decreases, volatility increases. There are a number of key issues to search for on a gamma chart. See how traders use it to anticipate volatility and improve decision-making. Vanna exposure over the next 7 days. Aug 24, 2021 · SPY SpotGamma Gamma Index: -0. NDX. In fact I posted an idea with a really good explanation idea of gamma exposure but the idea was banned and I never got around to reposting. This chart comes courtesy of Apr 23, 2023 · Gex is short for Gamma Exposure. Analyze option gamma exposure data for over 600 stocks, ETFs, & Crypto. Below in the red gamma zone is bad. 5% change in its delta for each 1% SPX move (depressed in part because of its low-strike concentration); the Dec-2020 maturity has gamma corresponding to a 1. its been helpful in recent days in finding price targets for scalps actually and being able to see what contracts MMs are gonna gravitate towards and pull away from @ EOD. 06. ES_SPX. A positive value is long gamma while a negative value is short gamma. There are a few key things to look for on a gamma chart. I imagine we could select the expiration date of the contract. Trades that look and are working well include those that use short-call vertical credits to finance long-put vertical debits out months from now. Analyze the latest GME options greek exposures on Unusual Whales. It is helpful to know this data on a strike-by-strike basis to know how the market will act as it approaches each strike. is the leading provider of real-time or delayed intraday stock and commodities charts and quotes. Gamma exposure is set to fall in mid-February, and this may result in less support from the options market. This is useful in determining if option market makers are being forced to buy or sell a certain asset in order to maintain neutral footing. Mar 13, 2023 · Hey everyone! I have some exciting news. 🕒 0DTE? No Apr 20, 2023 · but instead of showing the Open Interest profile it shows a Gamma profile. Consider the following example of the overnight futures crash following the Iranian bombing in January 2020. Here is an example of what we see as a typical “high gamma” day: <SPX High Gamma Day Mean Reversion> Advanced: Example Use Case. Find links to the complete article series at the end of this post. 16, charm exposure of 2165743100. Real-time Gamma Exposure, Proprietary Levels such as True Zero Gamma, Delta, and Vanna Exposure, real-time updates, market breadth, sentiment, and more. I saw that you wanted to see different colors for varying values and I tweaked it some so that you can see absolute values of 10k, 20k, 50k, 100k, 200k, 500k and 1,000,000 in gamma exposure. Jan 23, 2020 · I expand on all things gamma in another article that dives deeper into practical trading ideas around gamma exposure and OPEX. If you want the restricted content, send me a The gamma exposure (GEX) by strike highlights strike prices across expiration dates with the highest gamma exposure. The Anatomy of an SPX 0DTE Driven Market; SpotGamma on Stock Market TV; Put-Covering Rallies & Signals in Our SPY Gamma Exposure(GEX) What caused the market selloff before the headlines — And why most traders missed it; Spot the Flow, Seize the Edge: 5 Options Signals Every Trader Should Be Watching Large “right” bars (orange arrow below) are positive gamma support/resistance lines. Panic Gamma. So you need to further multiply by 1% of the underlying (it's an approximation, of course). This chart comes courtesy of If you try to run this on an SPX chart, Thinkscript will not pull the data. When GEX is high, it implies that market makers have significant gamma exposure, and they may need to adjust their positions to manage risk. Given Martin's role as a market maker and his substantial exposure to SPX options, his delta hedging activities wield a substantial impact on the underlying market. It is a valuable tool in helping you forecast changes in the delta of an option or an overall position. com is your go-to resource for understanding market mechanics through the lens of Gamma Exposure. Above in the green gamma zone is good. Gamma Exposure Dashboard Jan 3, 2024 · I was attempting to get that to chart for SPX and any other ticker symbol (XOM for instance) but I can not seem to get it to work. This chart comes courtesy of Sep 1, 2021 · We’ve upgraded our Total Gamma AKA Absolute Gamma Charts. 1. 77, and vanna exposure of 19851030. Probably what you’ve been waiting for, we’ve saved the best for last. CODE # Gamma Exposure at each strike is calculated by the formula option gamma * open interest * 100 (calls, x-100 for puts) plot data = if IsPut() then gamma() * -100 * open_interest() else gamma() * 100 * open_interest(); Jul 18, 2022 · Hey, I like this alot. Gamma By Strikes update every minute; Estimates Of Real-Time Open-Interest; Intuitive Gamma Through Time display to track Underlying, GEX, True Center, and LG levels; Real-Time data for SPX and SPY options; Pre-open data available from 8:30 EST Nov 9, 2024 · Introduction Gamma Exposure (GEX) has become an increasingly important metric in modern options trading, providing traders with valuable insights into potential market movements and volatility. They permit merchants to shortly determine areas the place gamma is growing or lowering. Option Gamma Exposure (GEX) Chart. Stock Ratings SPX 0-DTE Chart GEX Charts Options Volume Charm & Vanna Skew Charts Open Interest Dark Pool Charts. Our goal is to democratize access to this crucial information, empowering all traders to make more informed decisions. On interday, it is the number of chart aggregation periods used to calculate atr. With the advent of SPX and other index products now offering same-day expiring (0DTE) options, services are popping up left and right offering “gamma levels” and gamma analysis. 0713 * 100 * 2843. Sep 19, 2023 · The Ripple Effect on the Market. Yes, the same -$19Bn that we calculated earlier in Excel! The second level is where the Total Gamma Exposure blue line crosses zero. Vanna-gamma ratio The ratio of SPX option customers' vanna exposure to their gamma exposure, where "customer" exposure is any option exposure that is not held by dealers. Gamma Calculator Pivot Charts. Gamma exposure explained. Gamma exposure chart tradingview. Because delta changes as the underlying spot price changes (out-of-the-money options become more sensitive to spot moves as they become closer to in-the-mone Get instant access to a free live advanced chart for the SPX Gamma Weighted Dispersion index. Gamma means the acceleration of directional exposure; what it ultimately means when dealers are net long gamma is that the underlying security’s price more readily sticks to major levels. Sergei's site:https://perfiliev. ” A new window will pop up — just click Apply. our key metrics: ZeroGamma, Call Wall & Put Wall. Sep 15, 2016 · WTF (Wow That's Fun!) We first mentioned Gamma Exposure, or "GEX," in our last article, which introduced the idea of using dark pool data to forecast the direction of the S&P 500 index (NYSEARCA Nov 11, 2024 · Barchart. Let me know if theres anything else you may need View SPY: SPDR S&P 500 Option Gamma Exposure (GEX) Chart. If this zero DTE volume becomes too extreme, then it can be especially destabilizing for the market if aggressors (those buying at or above the ask Understanding GEX & Delta Exposure: Rafa breaks down how market makers hedge their positions using SPX options and explains the significance of GEX, which measures the gamma exposure resulting from traded options. Here is a quick primer on understanding the Gamma exposure chart and key levels. Jul 18, 2022 · I would want this for SPX and SPY so I could see change in gamma on the chart without having to open up the options chain. As already said in comments here it’s typically represented in column/bar charts. Here are links to all the different ways we plot our Gamma, Vanna, and Charm exposure charts! Total exposure trends over the next 7 days. Analyze the latest SPY options greek exposures on Unusual Whales. 1% change in its delta for each 1% SPX move. \n\nrev:1. When dealers are net long gamma, dealers hedge by buying more with each point a security falls, and selling more with each point it rises, thereby suppressing volatility. We harness options data that has long been utilized by large hedge funds and market makers. Gamma exposure gex chart. Total gamma exposure (GEX) reflects the total of call gamma and put gamma across all strike prices and RT Gamma. Gamma Exposure in S&P 500 Index: A Guide to Market Insights and Hedging Activities The S&P 500 Index (SPX) gamma exposure is a critical measure of the market's sensitivity to price changes Calculates estimate of market maker gamma exposure derived from S&P 500 index options - SPX-Gamma-Exposure/GEX. Python script to scrape option data from CBOE website and track current dealers' notional gamma exposure (GEX). Additionally we’ve added a feature which shows how much of that strike’s gamma is positioned in the next expiration (light grey). I imagine it would be something like gamma x volume x 100 or in the case of puts gamma x volume x -100. Free trading and investing tools from SpotGamma. It offers real-time insights into gamma exposure, open interest, potential call / put walls, and gamma bias. Click the "See More" link to see the full Performance Report page with expanded historical information. By observing positive and negative gamma exposure bars on the Directionalized Volume Spot Gamma Exposure chart we can identify areas where Customers are buying and selling in short-dated expiries. And this largely depends on how "the street" is positioned. Aug 8, 2023 · For those of you who already subscribe to our new Content Partner, Tier 1 Alpha, you’ll be able to see all of the Volatility, Gamma, Vol CTRL Fund, etc. We are also very intrigued by what happens during extremely May 16, 2023 · The gamma article I posted almost 2 years ago continues to be the most popular and frequently searched article on the site, so I figured it was time for a follow-up. Once reached, they can also act as support or resistance levels. ES levels using SPX flow. The yellow line is flip. The data updates in real time with an approximate refresh rate of 5 seconds. 0 DTE options are simply contracts that expire on the same day they are traded. S. The majority of the platforms that calculate GEX calculate gamma exposure per 1% move. We established a new trading range between 4750 and 4700, where we identified significant gamma levels, before gravitating to our new pivot at 4725. He also demonstrates how subtle shifts in delta can precede changes in gamma, providing potential trading opportunities. By default, the Gamma Exposure tools will be displayed. Gamma Exposure Index is a crucial metric for several reasons: Volatility Prediction: GEX serves as an indicator of future market volatility. What is Gamma Exposure (GEX)? Gamma Exposure represents the Learn how the GEX Live Feed delivers real-time Gamma Exposure, Delta Exposure, and market levels—no Sierra Chart needed. Track GEX ratios, market maker positioning, and options flow across S&P 500 stocks and ETFs. However, if you run it on /ES, it can access the correct SPX data. This section shows the Highs and Lows over the past 1, 3 and 12-Month periods. These strategies rely on understanding market maker hedging and deal View SPY: SPDR S&P 500 option greeks chart - delta, gamma, theta, and vega. Total gamma exposure (GEX) reflects the total of call gamma and put gamma across all strike prices and Real-time options gamma exposure analytics and dealer positioning insights for professional traders. Using Gamma Exposure charts, traders can pinpoint levels where hedging activity may influence price movement. Leverage cutting-edge gamma exposure data for unparalleled market insights. 2. You can now see how the market responds to these various levels by zooming in using the bottom pane for specific timeframes and dates. This point represents the current spot gamma exposure and occurs at around -$19Bn. With the craziness of the options chain the last few years, it's become imperative to understand dealer's positioning on the options chain. Apr 25, 2025 · Introducing the SPX Gamma Dashboard: Optimized for 0DTE and Intraday Futures Traders. Net exposure over the Jun 20, 2024 · Gamma hits its peak AT the money; as the spot price of the Underlying stock price moves around, At the money strikes will have the maximum gamma value on the options chain. On this page, you will be able to see Gamma Exposure, Vanna Exposure, & Delta Exposure. 63, delta exposure (DEX) of 255178024. Charts. Gamma Exposure Naive Gamma Exposure represents the sum of call gamma across all S&P500 stocks and subtracts the sum equivalent put gamma to derive an index-constituent metric. Two key states are described based on gamma exposure: Long Gamma: Market makers are net buyers of options, providing Gamma - Gamma measures the rate of change in the delta for each one-point increase in the underlying asset. These charts display the total gamma by strike for calls (reflected as a positive gamma bar) and puts (shown as a negative gamma bar). A thumbnail of a daily chart is provided, with a link to open and customize a full-sized chart. You can create your own trigger levels based on options positioning. SPX, and QQQ, we are also starting a daily 0–7DTE On the other hand, negative gamma markets are prone to wide price changes with more of a directional basis. As shown, despite a very large rally in markets from March lows SPX call interest has not returned to pre-crash levels. Spy gamma exposure chart. View the exposures of four option greeks—delta, gamma, vanna, and charm—for stocks & indexes - aaguiar10/gflows View FLOW: SPX FLOW, Inc. ** If you need help importing these levels directly to your TradingView or ThinkOrSwim Platform, click here In the SPX chart above, there are three key Gamma exposure levels: the Call Wall (green), Zero Gamma (yellow), and Put Wall (red). They allow traders to quickly identify areas where gamma is increasing or decreasing. data I reference when making OODA Loop (observe, orient, decide, act) observations. Total gamma exposure (GEX) reflects the total of call gamma and put gamma across all strike prices and Gamma exposure calculator TL;DR. 34, delta exposure (DEX) of 149993564. co. Capture U. Jul 18, 2022 · And on SPY just the opposite. I view this every day to get an idea of the gamma wall that may be support or resistance. This is because dealers are trading in the opposite direction of the underlying security’s trend when they are heavily long gamma. Gamma exposure is the estimated dollar value that market makers must hedge for every 1% change in the underlying asset's price. 49 * 86212 = 1'747'869'304). Be sure to bookmark the link for later or find it under the Members section SPX Gamma Exposure Calculates estimate of market maker gamma exposure derived from S&P 500 index options Dependencies: pandas, numpy, holidays, datetime, requests, py_vollib, pyVolLib (my helper file in this directory), matplotlib Dec 28, 2023 · Interpreting Gamma Charts. It will be hidden automatically on Here we calculate the Net Gamma Exposure Chart only on 0DTE or WDTE expirations. Jul 22, 2021 · Signal chart following the trades generated on the Gamma Exposure Index applied on the S&P500 daily data. By analyzing GEX Levels, traders can better anticipate price reactions and optimize their strategies. Gamma exposure curves and daily snapshots of real-time options trading charts and more. # Gamma Exposure Profile Indicator for ThinkOrSwim (XOM) # Define Inputs input fromStrike = 0; input toStrike = 200; # Define Variables def todayDate = GetYYYYMMDD(); def fromStrikePrice = fromStrike; Jun 3, 2019 · $\begingroup$ I tried calculating this myself. This stabilizes SPOT GAMMA EXPOSURE (GEX) is the assumed $ value of gamma exposure that market makers need to hedge per 1% change of the underlying stock's price movement. Risk range triggered bearish self explanatory. Feb 17, 2025 · Deep dive into how SPX gamma exposure creates high-probability trade setups by understanding market maker hedging and dealer flow. It assumes that put and call open interest is bought, which in most cases it is. These options experience the most rapid time decay, which can A thinkscript study that will scan the options chain and display information about volume, open interest, and gamma exposure. Feb 17, 2024 · Gamma is part of the second order of greeks which measure the sensitivity of first order greeks (Delta) to changes in factors of the underlying. As option traders know, delta is an option's exposure to the underlying's moves. 7 Days 30 Days 3 Months 6 Months 1 Year 5 Year The chart with those odds get posted in discord every 5 min or so and I have a twitter bot that post it every 30 min for SPY, QQQ and SPX. In July we announced the ability to export our GEX Levels to TradingView and ThinkOrSwim. This advanced professional chart gives you an in depth look at leading world indices. Large “left” bars are negative gamma points. Seems to be more of a contrarian indicator on SPY and a direction on SPX. E. 66, and vanna exposure of -677024064. This video will t Jul 18, 2022 · Market makers and institutional traders hedge their exposure to options, and gamma exposure plays a crucial role in how they adjust their positions: In positive gamma exposure environments (especially around key strike prices), market makers tend to hedge by buying the underlying asset when it falls and selling when it rises. View $SPX: S&P 500 Index option greeks chart - delta, gamma, theta, and vega. Dec 19, 2024 · Volatility trigger - the largest area of gross gamma exposure within reasonable proximity below spot pricing in SPX, where if price breaks below volatility in the market often increases Gamma flip - the level where the market switches into positive or negative gamma territory, changing dealer hedging flows Dec 23, 2020 · Historical SPX & Major Gamma Levels Chart The historical chart highlights the S&P 500 vs. Please note that this indicator only works on a daily timeframe. The Gamma_Levels indicator is now stored into your chart and you will see it in the top level of the chart. stock market exposure with ease utilizing SPX suite of options with a variety of contract sizes, settlements, and expirations. The charting technology used by SPX Feb 3, 2022 · The first one is where the Total Gamma Exposure blue line crosses the current spot red line. Data from SqueezeMetrics. At such levels, dealers must engage in more intense hedging (rebalancing) activities, and these end up establishing high-probably levels of support and resistance. This has implications for markets not just at this June expiration, but also going forward. GEX Levels, or Gamma Exposure Levels, reflect how the collective positioning of market participants impacts market behavior. TSLA Chart by TradingView. In the case of Indices or ETFs like QQQ and SPY? we will provide the 0DTE Net Gamma Exposure Intraday for options expiring the same day. 49: Jun 10, 2020 · The June 2020 SPX maturity currently has outstanding gamma corresponding to a 1. 14, delta exposure (DEX) of 30960884. Click “Save” and “Add to chart. Jan 3, 2024 · I was attempting to get that to chart for SPX and any other ticker symbol (XOM for instance) but I can not seem to get it to work. g. My trading view technical chart provide all key levels. By clicking the dropdown that says “Gamma,” you can change the tools to display Delta or Vanna data. I get the general trend of the chart right but my aggregate gamma values are too small. Gamma ray exposure chart. If it is updated live it is ideal, if not, it still works. If it’s puts with the most gamma exposure for the MM’ers than the GEX is gonna gravitate negative toward the strike with the most exposure if it’s calls the GEX is going to be positive and move up toward the call strike with the most exposure to hedge. This guide walks through real-world trading examples, demonstrating how to use these Gamma Levels on ES and NQ. Gamma Exposure(GEX) provides a measurement of how many shares Market Makers must buy (or sell) in order to stay neutral as the underlying stock moves. So many private messages asking me to explain GEX, I decided to repost the banned post without the restricted content in it. May 9, 2025 · Gamma Exposure (GEX) also known as Gamma Levels, measures the change in delta exposure for options based on changes in the underlying price. We will use the below GEX chart on the SPX as an example. Whether you're a seasoned professional or a curious beginner, GEXDuck. For Stocks that do not have 0DTE we will provide the Net GEX Chart for the next weekly expiration. Total gamma exposure (GEX) reflects the total of call gamma and put gamma across all strike prices and Jun 11, 2024 · SPY 0 DTE GEX Flow Chart Understanding 0 DTE Options. To load a stock’s Gamma Levels, we will edit the indicator by hovering over the Gamma_Levels text and clicking on settings (the gear icon). By analyzing Net Gamma Exposure (GEX) across different expirations, traders can identify critical levels for potential resistance or support. 0 05/18/2017 comment-out labels except for the ATR label \nrev: 1. Feb 6, 2023 · Here are links to all the different ways we plot our Gamma, Vanna, and Charm exposure charts! Total exposure trends over the next 7 days. SPX has a gamma exposure (GEX) of 31657. sierra chart dll futures and gamma levels, all in one place. What I have noticed is that on the SPX if gamma is call heavy then it most likely goes up and those strikes are ITM at end of day. Right now were in no mans land. RT Gamma helps traders monitor intraday option activity to make better trading decisions. Posted by u/danielthelee96 - 3 votes and 13 comments Options flow market summary. (The street == options market makers and dealers) View SPY: SPDR S&P 500 option greeks chart - delta, gamma, theta, and vega. Total gamma exposure (GEX) reflects the total of call gamma and put gamma across all strike prices and Jul 18, 2022 · And on SPY just the opposite. CODE # Gamma Exposure at each strike is calculated by the formula option gamma * open interest * 100 (calls, x-100 for puts) plot data = if IsPut() then gamma() * -100 * open_interest() else gamma() * 100 * open_interest(); Nov 23, 2021 · Everything seemed to play out wonderfully today. Our Gamma Exposure levels help identify the most likely direction and price targets. Gamma Exposure (GEX) also known as Gamma Levels, measures the change in delta exposure for options based on changes in the underlying price. Gamma Exposure Dashboard Gamma Exposure on SPX Today marks the first day in a long time where we can observe some green, bullish levels on gamma exposure. 0 05/17/2017 plot standard deviation of true range offset from hod and lod. The daily GexView indicator displays thin green lines, which represent the gamma exposure of zero-days-to-expire contracts. SPX GEX Screenshot Stock Ratings SPX 0-DTE Chart GEX Charts Options Volume Charm & Vanna Skew Charts Open Interest Dark Pool Charts. Our data also includes a detailed Net Gamma Exposure (GEX) and Delta Exposure (DEX) analysis, which can highlight key market inflection points. Learn More Try Now Oct 2, 2024 · Red zones, are negative gamma zones. May 3, 2024 · Significance of Gamma Exposure Index. py at master · jensolson/SPX-Gamma-Exposure Mar 9, 2025 · Learn the specific day trading strategies to profit when SPX gamma exposure is negative. However, a brutal sell seemingly out of nowhere proved to be highly disruptive. It will be hidden automatically on Seasonal Charts; Long Short Charts; Screeners Gamma Exposure (spx) - 2024-01-12 SPX SPY QQQ SLV USO. It has become more critical as the options market has grown, representing a sizable portion of the underlying equity market. The primary meaning of gamma is the acceleration of directional exposure, and when market gamma is high, the price action tends to slow down and be prone to reversals. Jan 20, 2022 · Due to its nature, gamma can exacerbate market moves ("short gamma") or dampen them ("long gamma"). As the SPX dropped to 5,400, we saw a clear negative gamma zone form above the 5,400 level. I started tracking gamma exposure over a year ago. Built a calculator that estimates the gamma exposure of market makers using ingested option chain data. 82. If you are trading ES you need to adjust the SPX level to the ES price. Gain an edge in your trading through our proprietary analysis and visualization tools. Let's examine SPY's current Gamma Exposure to understand how this works. Calls and put contracts, hottest chains, most active options flow, flow analysis, top flow, etc May 30, 2022 · Based on the great work done by others here, I present the OptionsHacker - An indicator that will scan the options chain and display information about volume, open interest, and gamma exposure. To calculate the total exposure we assume that dealers are long calls and short puts, hence: Call gamma = spot price * gamma * open interest * contract size * spot price * 0. , for every dealer position (every contract in DDOI), there is one customer exposure, and for every position held between two customers SPY has a gamma exposure (GEX) of 868239. VOO Gamma Exposure (GEX) measures the change in delta exposure for options based on changes in the underlying price. We've made some updates to allow you to get the GEX Levels for all the tickers on your watchlist at once, and then copy them into the ThinkOrSwim platform. Holding strongly net-positive gamma is a defensive measure since it would help to protect against directional (delta) or implied volatility (vega) related shocks. Total gamma exposure (GEX) reflects the total of call gamma and put gamma across all strike prices and Feb 1, 2020 · #Hint: GAMMA SCALPER input Length=20; #hint Length: On intraday, this is the number of days used to calculate the atr. 94, charm exposure of -266081641. We also offer tools like the Trading Integration, Option Matrix, Skew and Term Structure analysis to help traders refine their strategies. This will help Gamma Exposure (GEX) is a dollar-denominated measure of option market-makers' hedging obligations. But only 0DTE matters. May 12, 2025 · The gamma exposure (GEX) by strike highlights strike prices across expiration dates with the highest gamma exposure. Nov 19, 2021 · What Is Gamma? Gamma is the first derivative of delta (with respect to underlying price). market symbols (AAPL, TSLA, ORCL, DIA, AMZN) 🔃 Dynamic Updates: Receive precise GEX levels with auto-updating metrics up to 5 times a day throughout the trading session—no manual refresh needed! 🍒 Strategically Developed: Built by experienced options traders to meet the needs of serious options market participants. The data is updated every 20 minutes on trading days. Our unique approach to assessing gamma structure reveals a stock's key price levels that are likely to be targeted and defended by Market Makers. Excluslively for Traderade members you'll be able to access SPX gamma exposure charts based on a naive model of the options chain from CBOE. # Gamma Exposure Profile Indicator for ThinkOrSwim (XOM) GEX = gamma exposure. For use with the ThinkOrSwim platform. uk/market The Greek Charts display Delta, Gamma, Theta, and Vega for calls and puts across all strikes. Charm exposure over the next 7 days. In this video, we'll review how gamma works and how we formula GME has a gamma exposure (GEX) of 4673632. Each of these views can help you visualize which SPX strikes are most active and how positioning changes throughout the trading day. Dec 28, 2023 · Interpreting Gamma Charts. Gamma charts visualize the aggregate gamma exposure for an index or stock over time. Gamma will be larger for the at-the-money options, and gets progressively lower for both the in- and out-of-the-money options. Nov 19, 2024 · Gamma Exposure (GEX) also known as Gamma Levels, measures the change in delta exposure for options based on changes in the underlying price. Note the red box in the chart below. 01 Put gamma Dec 28, 2023 · Gamma charts visualize the combination gamma publicity for an index or inventory over time. Free for everyone: A simple Gamma chart, provided by SpotGamma, plotting SPX Gamma Exposure every single trading day. Jan 26, 2023 · I show how I calculate the live gamma exposure using of the 0DTE SPX options chains using thinkorswim and excel. Yes. I filtered for options with 75%-125% moneyness on SPX, calculated the aggregate $-gamma per contract using unitGamma * contractMultiplier * underlyingPrice * openInterest (example: 0. The SPX Gamma Dashboard is an Excel-based tool specifically designed for traders focused on 0DTE options and intraday futures. We are going to use the under GEX chart on the SPX for instance. Gamma exposure over the next 7 days. Price Performance. Below is a sample of our Gamma Exposure charts. The chart at top shows SPX prices, SPY is the bottom. SPX Gamma Dashboard SMT Divergence OR88 Color Themes [FREE] Enhanced DM Indicator for AlchemCharts Market Skills Workspace Bundle Symmetry Scout Intra-day Fibonacci Levels Automatic Trend Channels Murrey Math Indicator Dec 27, 2024 · This one looked promising but it looks like it doesn't offer the option to create a GEX chart for more than 1 expiration date at a time. Our Gamma Exposure (GEX) Dashboard shows where option dealers and major market participants are positioned. The gamma exposure (GEX) by strike highlights strike prices across expiration dates with the highest gamma exposure. The higher magnitude of gamma at each strike, the more that strike can act as an accelerant or support/resistance to the underlying market. com Inc. May 30, 2022 · Based on the great work done by others here, I present the OptionsHacker - An indicator that will scan the options chain and display information about volume, open interest, and gamma exposure. A brief surface level intro to a gamma exposure chart and how to read it. These levels have been showing as strong support and resistance lines. Using Gamma, traders can see the potential delta hedging activity by market makers. sdj fzhut keyoj caskpyph irihvy ebpzc kfwgis hpn ddhi rmcoc