Options & GEX
Dealer positioning, gamma exposure and options flow, and how those levels show up on the futures charts that PFT traders actually watch.
by Phil Wasmuth5 min readGamma Levels Explained: What GEX Means for ES and NQGamma exposure (GEX) explained for futures traders: how dealer hedging creates gamma levels, positive vs. negative gamma, and how levels map to ES and NQ.
by Phil Wasmuth5 min readZero Gamma, Call Wall and Put Wall ExplainedDealer positioning explained: what zero gamma, the call wall and the put wall are, how they are derived, and how ES and NQ traders read them against order flow.