GEX Gaudio
GEX Gaudio is the real-time view of the market’s gamma exposure, organised by price level. It shows at a glance where gamma concentrates and how that relates to the current price. If you want the concept first, read What is GEX?.
GEX Gaudio on SPX: call gamma in green, put gamma in red, with the SPOT, RES MM, SUP MM, OPEN and GAMMA 0 levels.
Where it is
Section titled “Where it is”Side menu, Main → GEX Gaudio. Available on the Premium and Ultra plans. The page is built on SPX, the S&P 500 index, with an option to translate the levels onto the ES future.
How to read it
Section titled “How to read it”- The horizontal bars represent gamma at each price level: one colour for the positive (call) component, one for the negative (put) component.
- The price line (spot) crosses the chart: it tells you where the market sits relative to the gamma concentrations.
- The dashed level lines are labelled with their value and repeated in the legend: SPOT (current price), OPEN (session open), RES MM and SUP MM (the market maker resistance and support) and GAMMA 0 — the point where gamma changes sign, the key reference. See Gamma Flip (Gamma 0).
- The legend below the chart gives the call and put gamma totals and the P/C Ratio of gamma.
The summary cards
Section titled “The summary cards”| Card | What it shows |
|---|---|
| Spot Price SPX | Current SPX price |
| Last Update | Time of the last refresh |
| Expiration | The expiration the profile refers to |
| Total Call GEX Volume | Aggregate call-side gamma exposure |
| Total Put GEX Volume | Aggregate put-side gamma exposure |
| GEX Difference | Net difference between the two sides |
| Support MM / Resistance MM | The market maker support and resistance levels |
| Max Call Strike / Max Call GEX | The strike carrying the largest call gamma, and its value |
| Max Put Strike / Max Put GEX | The strike carrying the largest put gamma, and its value |
| Max Call/Put Strike Net and GEX Net | The same extremes computed on the net profile |
The controls
Section titled “The controls”- Chart Settings — display options: Show Levels, Net Positions, Gamma Flip and Price Trend.
- SPX → ES — translates the SPX index levels onto the ES future, which is convenient if you trade the future. When enabled, an offset control lets you use the automatically computed spread or set your own.
- Breakout Alerts — notifies you when price breaks a relevant level.
- Rotate chart, Screenshot and Fullscreen for the display, plus a Reset Zoom button once you have zoomed in.
How to use it
Section titled “How to use it”Watch where price sits relative to the Gamma Flip and to the largest gamma concentrations: those are the areas where market maker hedging activity can most influence the intraday move. The Support MM and Resistance MM cards give you the two levels to note at the start of the session; Breakout Alerts then tells you when one of them gives way, so you do not have to watch continuously.
If you trade ES rather than SPX, turn SPX → ES on before writing the levels down — otherwise you will be working from index prices on a futures chart.
Common mistakes
Section titled “Common mistakes”- Copying SPX levels onto an ES chart without converting. Use the SPX → ES toggle; the two are not interchangeable.
- Reading the profile as support and resistance. Gamma concentrations condition how price behaves around a level; they are not levels of supply and demand.
- Ignoring which expiration the profile refers to. The Expiration card tells you, and it changes what the profile means.
- Comparing totals with the per-strike GEX pages. Those cover the active symbol and a different contract population; compare shapes, not absolute values.
Frequently asked questions
What is the GEX Gaudio page?
It is the real-time view of market gamma exposure organised by price level, built on the SPX index. Horizontal bars show the gamma at each level with the call and put components separated, the spot price line crosses the chart, and the Gamma Flip marks where gamma changes sign.
What does the SPX to ES toggle do?
It translates the SPX index levels onto the ES future, so traders who work on the future can read the same gamma profile in futures prices. When enabled you can use the automatically computed spread or enter your own offset.
What are Support MM and Resistance MM on the GEX Gaudio page?
They are the market maker support and resistance levels for the session, shown as summary cards under the chart. They are reference areas to watch price react around, not trading signals.
How do I get notified when price breaks a GEX Gaudio level?
Enable the Breakout Alerts checkbox in the chart toolbar. You are then alerted when price breaks a relevant level, so you do not have to watch the chart continuously.
Which plans include GEX Gaudio?
Premium and Ultra.
What is the difference between GEX Gaudio and the intraday GEX charts?
GEX Gaudio shows the SPX gamma profile organised by price level, with market maker levels and the SPX to ES conversion. The intraday GEX Open Interest and GEX Volumes charts show gamma per strike for whichever symbol is active, one computed on open contracts and the other on the volume traded today.
Related pages
Section titled “Related pages”Ready to use Gaudio OTT?
Section titled “Ready to use Gaudio OTT?”Open your free account and put what you just read into practice.