level converter
Convert strike prices and major levels between cash indexes, ETFs, and futures. Lists the ten common pairs and how the web converter works.
The gexbot Level Converter translates strike levels and Greek inflection zones between cash index prices, ETFs, and futures.
Supported Instrument Pairs
The converter lists ten common pairs across two models. The API accepts any listed stock or index ticker with ES, NQ, RTY, YM, GC, SI, or CL; see Futures conversion overview.
1. Additive Model (Index Basis Offset)
Calculates the net difference (fair value basis) between the future and the cash index:
Futures Price = Cash Index + Basis Offset| Cash Index | Target Future |
|---|---|
| SPX (S&P 500 Index) | ES (E-mini S&P 500) |
| NDX (Nasdaq 100 Index) | NQ (E-mini Nasdaq 100) |
| RUT (Russell 2000 Index) | RTY (E-mini Russell 2000) |
2. Affine Model (ETF to Commodity / Index Future)
Converts ETF strikes to futures prices using scaling multipliers and basis offsets:
Futures Price = (ETF Strike × Multiplier) + Basis Offset| Source ETF | Target Future | Underlying Asset |
|---|---|---|
| SPY | ES | S&P 500 |
| QQQ | NQ | Nasdaq 100 |
| IWM | RTY | Russell 2000 |
| DIA | YM | Dow Jones Industrial |
| GLD | GC | Gold |
| SLV | SI | Silver |
| USO | CL | Crude Oil |
Where to convert
Two web tools run the same conversion. Both call the gexbot API for the current multiplier and offset.
| Tool | Address | Use it for |
|---|---|---|
| gexbot Converter | gexbot.com/converter | The converter inside the gexbot site. |
| Index Converter | indexconverter.com | A standalone converter. It has a page for each group, such as qqq-to-nq, iwm-to-rty, and dia-to-ym. |
Both tools offer two views, selected with the #table or #calculators hash:
- Interactive ladder (
#table): A 40-row ladder centered on the reference ticker's spot close. Choose the point increment with the slider, from 0.25 to 25 (default 5). Click a row to compare it across the group. - Quick calculators (
#calculators): Bidirectional cards. Enter a cash, ETF, or futures value to see the equivalent level. - Refresh: The ratios update every 15 minutes in regular trading hours. A manual refresh has a 5-minute cooldown.
If the API cannot be reached, a tool falls back to static default prices and offsets, and shows a warning.
The gexbot Converter covers all ten pairs above. Index Converter covers nine: it has no SLV to SI pair. The API accepts more combinations, such as SPX to NQ; see the overview.
Practical Application
When gexbot identifies a Major Positive Gamma level on SPX at 5,000, the Converter calculates the corresponding ES futures price (for example 5,025.50) and SPY strike (500.00). Futures and equity traders can place exact orders without manual basis calculations.