GAMMA FORCE · FUTURES AND SPX OPTIONS
An options chain gives you rows of numbers. Gamma Force ranks the concentrations and places levels on the price chart, so you can decide which nearby strikes deserve a closer look.
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OPTIONS GAMMA LEVELS EXPLAINED
Gamma describes how an option’s delta changes as the underlying price moves. Delta describes the option price’s sensitivity to that underlying move. A strike with substantial open interest and gamma can represent a concentration of that sensitivity.
Gamma Force brings those concentrations onto the price chart. You can see their location relative to the market, then inspect the call and put detail behind a level.
For the underlying options concept, see CME Group’s explanation of options gamma.
Open interest counts outstanding options contracts at the reporting snapshot. Trading volume counts contracts traded over a period. A busy strike today can have a different profile from one with substantial existing open interest. CME explains volume and open interest.
That is why the strike table and its update information matter. Inspect the available inputs before assuming a prominent line represents fresh buying or selling.
| Reading | What it tells you |
|---|---|
| Gamma concentration | Where options sensitivity is concentrated by strike. A prominent level identifies an area to examine on the chart. |
| Estimated net GEX | A signed estimate across the included options, using position assumptions. The dedicated SPX view labels its coverage and units. |
| Modeled gamma flip | An underlying price where the modeled net exposure crosses zero. This is a separate calculation from ranking individual strikes. |
A large concentration alone does not establish whether dealers are buying or selling. The SPX gamma explanation shows how hedging behavior can differ with the sign of dealer gamma, and why an estimate needs to be read with its assumptions.
FROM THE CHAIN TO THE CHART
Compare the options concentrations above and below current price. When price approaches one, you already know where the gamma is concentrated and can inspect the call and put readings behind that level.
The concentration ranking helps you prioritize the options-derived levels around price. The chart keeps those references visible as the session develops.
Open the full gamma-by-strike table to compare call and put gamma and reported open interest. Data status and coverage tell you what went into the current view.
WHEN PRICE REACHES THE LEVEL
Suppose a concentration sits just above the current price. Watch the approach: does price stall below it, trade through it, or move away after a test? Those are observations you can compare with the original level.
For NQ or MNQ, executed trade pressure adds a view of the activity during that approach. NQ trend analysis shows where the move sits in the larger swing. On the SPX page, compare concentrations directly with the SPX price chart and options detail.
A concentration can remain visible while price trades through it. Its presence alone does not confirm support, resistance or a reversal.
SPX HAS ITS OWN VIEW
The dedicated SPX page shows options concentrations, estimated net gamma exposure and the modeled zero crossing. See how far SPX is from that flip and inspect the curve and strike data behind it.
See the SPX GEX page ↗01DTE MEMBERSHIP
Try Gamma Force alongside the pressure and trend views. Follow the concentrations around price and inspect the strike detail during your own sessions.
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You can use the futures-mapped options levels while trading futures. The dedicated SPX view uses SPX index options. Coverage varies by market and available data.
No. It identifies an options concentration. Use the subsequent price and trade activity to assess the market’s response.
Gamma views use available options data and model assumptions. They do not reveal actual dealer inventory. Estimates, coverage and timestamps are shown so you can assess the reading.
The 15-day trial is $0 today and continues at $149/month unless you cancel before it ends. Review the subscription terms at checkout. You can also compare the other access options.