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Net Gamma Exposure (Net GEX) by Strike

Understanding Net Gamma Exposure (Net GEX)

Gamma Exposure (Net GEX) measures how market makers (dealers) are positioned in options. It helps identify key levels where price may stabilize or become volatile.

🟢 Positive Net GEX (Dealer Long Gamma)

  • Dealers hedge by selling into rallies and buying dips
  • Market becomes range-bound and stable
  • Volatility is typically low

🔴 Negative Net GEX (Dealer Short Gamma)

  • Dealers hedge by buying into rallies and selling dips
  • Market becomes directional / trending
  • Volatility expands quickly

📍 Key Concepts

  • Call Wall: Strike with highest call OI/GEX → resistance
  • Put Wall: Strike with highest put OI/GEX → support
  • Gamma Flip: Level where total GEX shifts from +ve to -ve

📊 How to Use

  • Trade ranges when Net GEX is positive
  • Expect breakouts when Net GEX is negative
  • Watch Flip level for regime change
🚀 Want to go deeper? Learn advanced GEX strategies, dealer positioning models, and real trade setups.
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