GEXNAUTHow it works
Every options trade leaves market makers ("dealers") holding risk they must hedge in the underlying. Where they hedge — and which way it pushes price — is readable from their gamma. GEXNAUT maps that pressure across every strike, every day. The map, not the trade.
Gamma Exposure (GEX)
The dollar hedging pressure sitting at each strike.
- Positive gamma → dealers dampen moves: ranges tighten, dips get bought, pops get sold. Calm, mean-reverting.
- Negative gamma → dealers amplify moves: trends extend, breakouts run, dips can cascade. Volatile, trending.
The walls
- Call Wall — the biggest positive-gamma strike above price: a ceiling / magnet.
- Put Wall — the biggest negative-gamma strike below price: a floor / support.
In positive gamma, price tends to oscillate between them; a decisive break through a wall is the signal that the pin failed.
Zero Gamma — the flip
The price where dealer gamma crosses zero — the boundary between the calm regime and the volatile one, and the single most important level of the day. Above it, moves are dampened; below it, they're amplified. Crossing it is a regime change.
What makes GEXNAUT different
Most tools map SPX/SPY index gamma and stop there. GEXNAUT maps it where you actually trade:
- Native futures gamma — /ES /NQ /GC /SI /CL, not just the index.
- Combined index+ETF book — SPX+SPY → ES, NDX+QQQ → NQ — with the dual-book divergence most tools never show.
- Real commodity books — gold / silver / crude from the actual COMEX/NYMEX options, not flaky ETF proxies.
TRACE
A live time × strike heatmap of the gamma profile shifting through the day — where walls are building or eroding in real time. The "walls in motion" view the static map can't show.
Market Profile (TPO)
Where the market spent its time — accepted value (POC, value area) vs rejected extremes (singles). An independent cross-check on the gamma levels: when a value edge lines up with a wall or the flip, that's the highest-conviction spot on the chart.
Mapped daily
Every level, every session — plus plain-English positioning reads. Dealer gamma, mapped daily.