orderflow
net gex
Net gamma exposure across strikes condensed into a single continuous balance metric.
api
Access this data from the orderflow latest endpoint.
Net GEX = Total Call GEX Imbalance - Total Put GEX ImbalanceMetric Interpretation
Net GEX condenses the strike-by-strike GEX Profile into a single directional gamma metric:
- Positive Net GEX (> 0): Call gamma imbalance exceeds put gamma imbalance. Upside convexity dominates market structure.
- Negative Net GEX (< 0): Put gamma imbalance exceeds call gamma imbalance. Downside convexity dominates market structure.
Market Regime Implications
- Strong Positive Net GEX:
- Evenly Distributed Strikes: Indicates high probability of an upside squeeze as dealer short gamma forces buying.
- Single Concentrated Strike: Operates as a major overhead resistance and mean-reversion target.
- Strong Negative Net GEX:
- Evenly Distributed Strikes: Indicates high probability of rapid downside acceleration.
- Single Concentrated Strike: Operates as a major structural support and mean-reversion target.
- Cross-Metric Confluence: Evaluate Net GEX alongside Net Convexity to determine whether market gamma is concentrated in calls or puts.