gex orderflow

Monitoring changes in the gex profile — marking high-gamma, high-conviction pivots.

api

Get this data from the orderflow latest endpoint.

= (call gex imbalance) - (put gex imbalance)

Description

Gex orderflow is designed to monitor changes in the gex profile. A bar up indicates that call gex imbalance has grown (more green is present on the gex profile), whereas a bar down indicates that put gex imbalance has grown (more red is present on the gex profile).
Positive gex orderflow brings us closer to a call dominated gamma environment. This isn't a simple buy signal. It adds convexity to our upside (indicating that if we were to rise, we would go farther), while elevating the probability that spot price will fall. It changes the shape of our expected distribution, making upside less likely, but more explosive. The opposite is true for negative gex orderflow.
Practically speaking, gex orderflow will mark high 𝛄 transactions, which are riskier and feature greater payoffs. As such it marks high conviction pivots.
On an index like SPX, which is dominated by short gamma, positive gex orderflow (often call selling) typically marks local tops, whereas negative gex orderflow marks local bottoms.