1. Get your bearings
Before comparing numbers, check which ticker, expiry scope and snapshot you are reading.
1Ticker: the underlying you are studying.
2Scope: same-day expiry or the tracked expiry set.
3Spot: start near the current price; the row may be rounded to a strike.
2. Follow one strike across expiries
One expiry can offset another. Switch the example’s scope to see why the NET column changes.
GEX · $M per 1% spot move
| Strike | NET 0DTE | Today | Later |
|---|---|---|---|
| 505 | +40 | +40 | +60 |
| 500 ← | +10 | +10 | −30 |
| 495 | −35 | −35 | −15 |
This illustration repeats Today beside NET to demonstrate the arithmetic. The workspace displays it once: a pinned actual date · 0DTE column. Multi-Day keeps its Net total and separate dated expirations.
3. Read the number behind the colour
Colour helps you spot concentrations quickly. Numbers tell you their size.
Brightest cell in this column.
Same shade, 50% larger amount.
Cell detail, explained
On the dashboard:
Desktop: click.
Mobile: double-tap.
Keyboard: arrow keys, then Enter or Space.
▲ Call wall
The role tells you why this level is marked. The amount tells you the exposure.
4. Put the references in price order
Use the map to decide which levels to watch next, then check what price actually does there.
The workspace’s compact Key Levels panel follows the active GEX or DEX metric. Bar lengths compare magnitudes among the displayed levels with available values. Spot and flip show price references without exposure bars.
What the regime adds
Long gamma: modelled hedging sells into rises and buys into falls, which can soften moves. Short gamma: it buys into rises and sells into falls, which can amplify either direction.
These are model assumptions, not observed dealer trades. News and other trading can outweigh the effect. A flip crossing alone is not a buy or sell signal. Wall selection depends on scope and the displayed selection rules.
Explore all regime labels →5. See whether the picture changed
Choose a session date, then an expiry scope. Slide to a capture to read price and exposure at the same time.
Example session · 19 October
0DTE · default
Only options expiring on the selected date.
Same session · 19 October
Multi-Day · optional
Tracked expiries at each capture—not a sum of different trading days.
GEX, DEX and Compare
Compare stacks spot, GEX and DEX on separate scales at the same capture times. GEX is $ per 1% spot move; DEX is signed $ delta notional. Compare timing and changes within each metric, not their dollar sizes.
Changes can reflect price, volatility, time and contract coverage. They do not prove new buying or selling.
Available dates, gaps and half-days
The latest 10 trading sessions are checked. A finished date is offered only if every scheduled cash-session interval contains a complete capture and every saved cash capture includes spot, GEX and DEX for the selected scope. A normal session has 42 intervals; a 13:00 half-day has 22. Missing intervals exclude the finished date. Missing 0DTE is not reconstructed from Multi-Day.
This proves scheduled capture intervals are covered, not continuous market observation or exact scheduler-trigger lineage. Today is labelled in progress until cash close and reports elapsed interval coverage. The collector runs every 5 minutes near the open and close, and every 15 minutes during the middle of a normal session. Gaps over 20 minutes break the lines. Incompatible SPX timing versions break GEX/DEX lines.
Half-day charts end at the early cash close. Captures are delayed estimates; the last point is not a settled close.
Following today’s session
The visible, online page checks for new captures each minute during the cash session. Latest saved capture follows updates; an earlier selection stays in place. Refresh checks for new captures and dates.
The shared scope and Heatmap GEX / DEX controls update history. Controls inside history affect only this panel; the slider does not rewind the other charts.
A repeatable four-check routine
Finding these controls in the workspace
Choose Heatmap in the desktop sidebar or mobile View selector. Metric, Display, Rows shown and export controls are visible together above the heatmap. Key Levels and Expanded reduce displayed rows without changing the book.
In 0DTE, the pinned exposure column uses the actual expiration date · 0DTE. The duplicate dated column is omitted on desktop and phone. Multi-Day keeps the Net total alongside each dated expiration.
The map’s 0DTE / Multi-Day comparison places both books’ Net GEX, Gross GEX and Net DEX together at the same snapshot. Open By expiration for paired Net GEX / Net DEX across all tracked expiries, with the 0DTE date highlighted. Choose Calls & puts to compare separate contributions with white net marks. Selecting a row shows its exact call/put detail without changing scope. Open in By strike continues at the linked exact strike or the nearest reported strike to snapshot spot. The action says Open in Multi-Day · By strike when another expiry requires a scope change. Concentration uses absolute strike-net GEX within each expiry, before cross-expiry offsets.
The same call/put key is used in By strike and replay Snapshot. Short white marks show reported net exposure. In strike charts they are horizontal; the long grey dashed vertical spot line is a price reference. GEX assumes positive calls and negative puts; DEX uses raw signed option delta. These estimates do not show executed buying or selling.
For a historical investigation, open Historical replay, choose a qualifying session and move the time slider to a saved capture. Snapshot shows the exact saved strike chart. Change compares an earlier capture A with the selected later capture B; B minus A is exposure change, not Net Drift. Intraday heatmap plots exact saved exposure across times and strikes. Its 15 / 31 control selects strike rows; Center strike positions the window. Load heatmap applies that selection. Saved captures gives each observation one equally spaced column; Elapsed time uses proportional time spacing. Missing scheduled intervals have outlined gap columns or bands without exposure values. The legend and cells share one symmetric square-root colour scale across the displayed times. Historical GEX and DEX view guide → Replay captures are scheduled every five minutes in the first and last cash-session hours and every fifteen minutes between them, within a rolling 30 cash-session window. Earlier aggregate history cannot reconstruct missing strike maps.
Open Data notes in the dashboard header for source, timestamp and model details.
See all dashboard views, their clocks and the shared strike-window controls →