93% of retail traders lose money, according to the latest data.
As part of our commitment to giving retail traders a real chance at success, we are offering FREE mentorship and access to proprietary options, stock, and dark-pool data and indicators, giving retail traders a better chance to understand and compete with the algorithms.
Dealers hedge billions of dollars in options every day. Where they are positioned, price can get pinned or pushed.
- No card needed
- Answer within a week
- Mentorship included
Hit the price with news. Above the flip, dealers absorb it. Below the flip, they add to it.
How this works, and the numbers as a table
Towers are strikes where dealers are long gamma: they sell rallies and buy dips, so moves shrink and price tends to pin. Trenches are strikes where they're short gamma: they chase the move, so it grows. The flip is where one turns into the other. Lower implied volatility makes the walls taller and sharper; higher volatility spreads them out. The front line is the total across all expiries, which is what the price feels.
| Strike | Net GEX ($B per 1%) |
|---|
Every Greek, across every strike and expiry
Gamma is only the start. See how vanna, charm and delta exposure stack up around the price, and learn what each one means as you go.
Delta
DEX on GEX and DEXHow much an option's price moves for a $1 move in the stock. Dealer delta exposure shows which way they're hedged.
Gamma
GEX HeatmapHow fast delta changes. It peaks at the money, which is why big gamma strikes can act like magnets or walls.
Vanna
VEX on Greeks HeatmapHow delta changes when implied volatility moves. A drop in volatility alone can make dealers buy or sell stock.
Charm
CEX on Greeks HeatmapHow delta changes as time passes. It speeds up into expiry, so it matters most near the close and on expiration day.
The tools, and the education to use them
Which tools your month unlocks depends on the plan your grant includes. Every grant comes with our guides and education.
GEX Heatmap For you
Gamma exposure across strikes and time, so walls and flips stand out.
Greeks Heatmap For you
GEX, VEX, CEX, DEX and open interest side by side.
GEX and DEX For you
Gamma and delta exposure in real time as the session moves.
Spot Gamma & Delta For you
Real-time spot gamma and delta levels.
Option Depth Flow For you
Dealer walls, negative walls and the gamma flip, strike by strike.
Greek Gods For you
Options Greeks analysis and trimetric skew.
Gamma Short Squeeze For you
Gamma squeeze detection and analysis.
Mentorship & education For you
Free mentorship, video tutorials, recorded live trading and plain-English guides to every tool.
Apply for your free month
Apply in a few short steps
One question at a time. Your answers save as you go, so you can stop and come back.
- How you trade
- Experience
- Your goals
- Social profile
- Free account
- OPRA agreement
- Review and submit
Retail Trader Grant application
Create your free account
Your application is tied to your account, and it's where your free month will live. Your answers are saved: once you've signed up (or logged in) you'll come straight back here to finish.
Free to create. No card needed.
Sign the OPRA agreement
The options exchanges require it from everyone who sees their market data. Three short screens: read, confirm, sign.
Review and submit
Check your answers. We review every application within one week and email you the result.
After you submit, you'll share the grant link on your social profile so we can verify it's yours.
Charts on this page are illustrative examples, not live market data or trading advice.