GEXNAUTterminal guide
How to read the terminal
A 5-minute, plain-English guide. Not financial advice — it's a
map of where dealer hedging concentrates, not a prediction.
The 30-second idea
Market makers sell most options and hedge in the
underlying to stay neutral. How they hedge depends on their gamma — and that
creates predictable spots where price gets pulled, capped, or accelerated. GEXNAUT maps those
spots in real time. You're seeing the market's skeleton.
The 4 things to read first
| ● CALL WALL | the ceiling |
price tends to stall / reverse here |
| ● PUT WALL | the floor |
price tends to bounce here |
| ● ZERO Γ (flip) | the mood line |
above = calm, below = wild |
| REGIME | the weather |
Positive γ = ranges, dips bought · Negative γ = trends, breakouts run |
The one rule that matters most
The same wall behaves oppositely
depending on which side price is on:
- ABOVE the call wall → breakout fuel (dealers chase, momentum extends) 🚀
- BELOW the put wall → downside unlocked (support gave way, moves accelerate) 📉
- INSIDE the walls → range: lean sell near the call wall, buy near the put
wall; a clean break of either is the signal.
The terminal tells you which one you're in — that's
the top banner on the panel.
The 3 context lines
- Regime line — ABOVE CALL WALL / BELOW PUT WALL / TESTING / INSIDE THE WALLS.
- ⊕ STRONG zone — a wall lined up with the expected-move edge + other levels = a
high-conviction spot. The more forces stacked, the stronger.
- ↕ WALLS — are dealers drifting the cage up (supportive) or down
(heavy) today.
The tabs, one line each
- GEX Levels — the main chart: walls, flip, ladder, dual-book (SPX/SPY · NDX/QQQ).
- Dashboard — the options view: walls, 0DTE flow ladder, OI & volume by strike.
- Scanner — today's fresh positioning (Vol/OI): where new bets land right now.
- TRACE — heatmap of how the walls form & break through the day.
- Direction — open-gap odds + a daily lean scorecard.
- Readout / Ask — key levels in a sidebar, plus an AI you ask in plain English.
- Compass / Volatility / 3D / PnL — cross-asset scan, IV skew, gamma surface, calculator.
A simple morning routine
- Glance at the regime (calm or wild?) and the top banner (which market?).
- Note the call wall (ceiling) and put wall (floor) — today's box.
- Watch the flip: crossing it changes the whole character.
- Look for a ⊕ STRONG zone — that's the level to actually care about.
Colours & honest limits
● green = calls / positive gamma ·
● red = puts / negative gamma · ● amber = the flip.
Headline GEX is open-interest based (updates
after the close) — the Scanner catches intraday new positioning. It's analytics,
not advice: walls are where hedging pressure clusters, not guarantees.