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OptionsDepth Profile picture
OptionsDepth
@OptionsDepth
We built the map. You trade the edge. | Pioneer platform for accurate option positioning and MM exposure projections.
Dec 18, 2025 • 8 tweets • 1 min read
🚨 Your 10-Second $SPX Market Recap 🚨

NOTICE THE GAMMA FLIP RESISTANCE 🧵⬇️ $SPX opened in a negative gamma landscape. Early near-the-money customer option buying pushed the market into a local gamma trough. Price oscillated near charm = 0 before catching a bid after crossing into a supportive charm environment.
Jul 7, 2025 • 6 tweets • 2 min read
⚠️ Options aren’t supposed to be this confusing.

Most of what’s out there is either wrong—or way too complex.

We’re fixing that.

🎥 OptionsDepth 101 Series

From the basics to market maker hedging — clear, powerful, and no BS.

This will rewire how you see the market.

Episodes drop here every week until the end of the series.

📺 Full videos also on
YouTube → /@ OptionsDepth
Our website /knowledge-base

👇 Start here: Options 101 - What are options?
Jun 21, 2024 • 5 tweets • 2 min read
$SPX

OPEX is now behind us... Some may have found the price action boring, but we found it fascinating.

Here is an overview of today's trading session.

Notice how the underlying price followed this yellow line throughout the day.

Why?🧵Image What you see on this heatmap is market makers' gamma exposure, projected throughout the trading day.

Blue represents positive gamma, with dark blue indicating higher positive gamma.

Red represents negative gamma, with dark red indicating higher negative gamma.

We analyze market makers' gamma exposure because they are delta hedgers. They actively trade the underlying asset to offset the directional risk of their options portfolio.

Gamma measures how they will buy or sell the underlying asset to protect their options portfolio as the underlying price changes.
Dec 26, 2023 • 6 tweets • 3 min read
💭Ever wondered about GEX?

Gamma: a term that's always buzzing in trading.

But why is it so crucial to track?

Let's dive in and debunk the common misconceptions.

Here's the real story behind it 🧵 Background:

The primary goal of dealers is to profit from the spreads in trading.

However, the real challenge lies in the fluctuations of delta in their options positions, which introduce increased risks.

These risks are managed through a process called delta hedging.

GEX, or Gamma Exposure, is fundamentally tied to how dealers manage their options portfolios.

Simply put, dealers strive to maintain a neutral delta in their portfolio.

As the overall delta of their options portfolio increases, they sell the underlying to rebalance. Conversely, when their portfolio's delta decreases, they buy the underlying.

Briefly...

Gamma, essentially, measures the rate of change of delta relative to the underlying price. It's our tool to gauge whether dealers need to buy or sell as the underlying price shifts.