I did a search and it seems like a lot of people have similar issues I had looking for gamma exposure data and information without resorting to Bloomberg Terminal. I've tried a few that people have floated around, and I feel like either the dashboard is too overwhelming and slows down my decision making or it doesn't present me with enough information particularly with things that I'm actually looking for.
So I started to learn python and decided why don't I try to build my own platform.
I took a screenshot above with what I'm working with, and so far it allowed me to be more consistent with my strategies and just more discipline overall. I was wondering what people think of it? I'm debating on turn this into an actual product, and am curious if people would actually use it and how they would use it.
What I personally wanted was just a quick glance at the important stuff, and it's done by level of importance to me GEX and Flow Ratios first, open interest and levels 2nd. But most importantly I wanted to be able to quickly glance at a dashboard and find key levels, sentiment/regime. Then just for fun, I added an ask AI feature really just so I stay neutral to some extent because I could look at a chart see something there from a technical standpoint and my bias would push me to seek these bias from gamma exposure and flow even though it's not there.
For me, I'm using GEX to find premium to sell options against my long term positions to generate some income.
For those that are interest in seeking structure and gamma exposure, how would you use this info to trade or maintain your portfolio?
Posted by WillTheGreat
5 Comments
gamma exposure is an estimate that starts with OI and uses a volatility surface and order flow to infer the rest (longs vs shorts)
thats what most “GEX providers” sell you, a best guess
Keep it to yourself. We all built one with ChatGPT’s help just like you.
I think the tough thing is the marketing and what sets it apart. What does this tell me that Barchart (that also comes with a lot of other features) or Spot Gamma doesn’t?
A thing most dev’s don’t consider when creating trading/option software – diversity.
While I do follow GEX, it’s only one variable of a handful that I refer to, including skew/IV, O/I, volume, unusual activity, among a few others.
Very few offer one year IV charts, that’s extremely important.
Then there’s complex option net Greeks, I sometimes have positions with as many as a dozen legs, I position each to optimize Vega & Theta, to date Optionstrat is best for this, but they lack in other areas such as IV charting like Market Chameleon.
You don’t really need a dashboard.
Most of the GEX is at the psychological numbers like 670 675 680 and the corresponding 6850 6900 6950 for SPX.