What is GEX? Gamma Exposure explained for futures traders
Gamma exposure tells you how much dealers need to buy or sell futures as price moves. The bigger the GEX at a strike, the more mechanical the price reaction.
Call Wall vs Put Wall — structural ceiling and floor
A Call Wall is where dealers sell into rallies. A Put Wall is where they buy dips. Neither is guaranteed to hold — but both are mechanically enforced on first touch.
DAMPENED vs AMPLIFIED — the two market regimes
DAMPENED means dealers absorb volatility — price moves are cushioned. AMPLIFIED means dealers have no cushion — moves extend fast in both directions. The regime changes everything about how you trade.
Gamma Node and Gravity Pin — why price orbits certain levels
The Gamma Node is the strike with the highest gamma concentration. Price doesn't choose to stay there — it gets pulled by dealer hedging activity. It updates dynamically every 5 seconds as OI shifts.
AM vs PM XLS — reading intraday institutional flow
Comparing the morning OI snapshot to a midday snapshot reveals what institutions bought or sold during the session. New put volume at support = real bearish pressure. When it exhausts — that's the setup.
FOMC April 29, 2026 — Net DHP -1,917M to +1,041M in 40 minutes
Powell held rates. The market sold first and bought second. Net DHP flipped +2,958M in 40 minutes while price barely moved 22 pts. That's gamma absorption — and the Put Wall at 7,100 never broke.
Gamma Flip double bottom — April 30, 2026
GDP missed. PCE came in hot. SPX dropped to Gamma Flip 7,130 twice. Bounced twice. The level was mapped pre-market. Dealers were mechanically obligated to buy. Structure absorbed the stagflation shock.