What the metric means
GEX aggregates option gamma into an exposure measure, usually using open interest and an underlying-price scaling convention. It is a positioning estimate, not a direct observation of dealer inventory.
Controls and fields
- Choose BTC or ETH.
- Select the observation date and time.
- Compare positive and negative exposure across the displayed strike range.
How to read it
- Concentration matters as much as the total: large exposure near spot can dominate local behavior.
- Interpret signs only after confirming the platform convention.
- Compare snapshots because spot movement changes gamma and which strikes are near the market.
The horizontal axis shows strikes. Green bars above zero show positive exposure under the platform convention, while red bars below zero show negative exposure; the colors are not buy and sell instructions. The dashed vertical marker locates the displayed underlying price, $85,382.31 in this snapshot. The vertical scale is labelled as the number of contracts for a $1 move in the underlying, with M meaning millions. Check the Time and timezone when comparing snapshots, and use the lower range selector to focus on a strike region.
Useful for
- Locate gamma concentration by strike.
- Track changes in option positioning.
- Provide context for spot moves near large strike clusters.