Swolecharts
Live crypto data · 10 exchanges
Log inSign up

Ethereum (ETH) options gamma exposure by strike

Estimated dealer gamma exposure (GEX) by strike for Ethereum options on Bybit and Binance, all expiries combined or one expiry, with the zero-gamma level. A model estimate: Black-76 gamma from each option's mark implied volatility, assuming dealers are long calls and short puts sold to customers.

Model estimate for ETH options on Bybit and Binance (Fri 4 Dec 2026 expiry): net dealer gamma exposure is -$209K per 1% move, negative: under the assumption dealers would sell dips and buy rallies, amplifying moves. The largest estimated exposure sits at the $1,600 strike (-$96K per 1% move). The estimated zero-gamma level is $2,029, 7.4% above spot. Across every eligible expiry (unsigned, no positioning assumption), 42.7% of the $28.49M per 1% move expires within 24 hours and 78.0% within 7 days, counted from one hour ahead.

Model estimate11 expiriesSource: Bybit and Binance public APIsServer snapshot Source fields may have different event times.

Model estimate. Gamma exposure assumes dealers are long calls and short puts sold to customers (calls count +, puts count −). Exchanges do not publish who holds each side, so the sign can be wrong; the total gamma chart makes no positioning assumption. Not trading advice. Learn how GEX and the dealer assumption work.

Coverage. Covers options listed on Bybit and Binance only, not the whole market. Deribit, the largest crypto options exchange, is not included, so max pain and put/call figures here can differ from numbers quoted elsewhere.

This expiry on: max pain · IV smile · chain · delta OI

ETH gamma exposure, Fri 4 Dec 2026 expiry (model estimate)

assumes dealers are long calls and short puts sold to customers · USD per 1% move
Net GEX model estimate
-$209K
calls $201Kputs -$409K
Largest |GEX| strike model estimate
$1,600
-$96K per 1% move
Zero-gamma level model estimate
$2,029
7.4% above spotindex $1,890
Total gamma, unsigned model estimate
$610K
no positioning assumption

Estimated dealer gamma exposure by strike, Fri 4 Dec 2026 expiry (model estimate)

assumes dealers are long calls and short puts sold to customers: calls above the line, puts below · USD per 1% move
  • Calls (+)
  • Puts (−)
  • Zero-gamma level
  • Index price
-$100K -$75K -$50K -$25K $0 $25K $50K 1.2K 1.7K 1.85K 2K 2.15K 2.3K 2.6K 1,200: calls $0.965, puts -$181, net -$180 per 1% move (model estimate) 1,500: calls $0, puts -$5.09K, net -$5.09K per 1% move (model estimate) 1,600: calls $507, puts -$96.4K, net -$95.9K per 1% move (model estimate) 1,700: calls $94.5, puts -$89.6K, net -$89.5K per 1% move (model estimate) 1,750: calls $0, puts -$12.1K, net -$12.1K per 1% move (model estimate) 1,800: calls $11.2, puts -$52K, net -$51.9K per 1% move (model estimate) 1,850: calls $1.93K, puts -$29.6K, net -$27.6K per 1% move (model estimate) 1,900: calls $20.8K, puts -$38.2K, net -$17.4K per 1% move (model estimate) 1,950: calls $15.1K, puts -$29.7K, net -$14.7K per 1% move (model estimate) 2,000: calls $18.7K, puts -$37.2K, net -$18.5K per 1% move (model estimate) 2,050: calls $27.8K, puts -$12.6K, net $15.2K per 1% move (model estimate) 2,100: calls $15.2K, puts -$4.16K, net $11.1K per 1% move (model estimate) 2,150: calls $8.96K, puts -$332, net $8.63K per 1% move (model estimate) 2,200: calls $13.3K, puts $0, net $13.3K per 1% move (model estimate) 2,250: calls $11.3K, puts -$528, net $10.8K per 1% move (model estimate) 2,300: calls $21.9K, puts -$546, net $21.4K per 1% move (model estimate) 2,400: calls $21.8K, puts -$369, net $21.5K per 1% move (model estimate) 2,500: calls $13.7K, puts -$592, net $13.1K per 1% move (model estimate) 2,600: calls $4.71K, puts $0, net $4.71K per 1% move (model estimate) 2,700: calls $4.71K, puts -$16.3, net $4.7K per 1% move (model estimate)

Strikes within ±50% of the index, at most 60 (20 of 20 shown). Net GEX per strike = calls + puts.

Total gamma by strike, Fri 4 Dec 2026 expiry (model estimate)

assumption-free: calls and puts both counted positive · USD per 1% move
  • Total gamma
  • Zero-gamma level
  • Index price
$0 $20K $40K $60K $80K $100K 1.2K 1.7K 1.85K 2K 2.15K 2.3K 2.6K 1,200: total gamma $182 per 1% move (model estimate) 1,500: total gamma $5.09K per 1% move (model estimate) 1,600: total gamma $96.9K per 1% move (model estimate) 1,700: total gamma $89.7K per 1% move (model estimate) 1,750: total gamma $12.1K per 1% move (model estimate) 1,800: total gamma $52K per 1% move (model estimate) 1,850: total gamma $31.5K per 1% move (model estimate) 1,900: total gamma $59K per 1% move (model estimate) 1,950: total gamma $44.8K per 1% move (model estimate) 2,000: total gamma $55.9K per 1% move (model estimate) 2,050: total gamma $40.5K per 1% move (model estimate) 2,100: total gamma $19.4K per 1% move (model estimate) 2,150: total gamma $9.29K per 1% move (model estimate) 2,200: total gamma $13.3K per 1% move (model estimate) 2,250: total gamma $11.8K per 1% move (model estimate) 2,300: total gamma $22.5K per 1% move (model estimate) 2,400: total gamma $22.2K per 1% move (model estimate) 2,500: total gamma $14.3K per 1% move (model estimate) 2,600: total gamma $4.71K per 1% move (model estimate) 2,700: total gamma $4.73K per 1% move (model estimate)

Gamma exposure by strike table, Fri 4 Dec 2026 expiry (model estimate)

USD per 1% move · calls count +, puts count −
StrikeCalls GEXPuts GEXNet GEXTotal gamma
$1,200$1-$181-$180$182
$1,500$0-$5,090-$5,090$5,090
$1,600$507-$96K-$96K$97K
$1,700$94-$90K-$89K$90K
$1,750$0-$12K-$12K$12K
$1,800$11-$52K-$52K$52K
$1,850$1,926-$30K-$28K$32K
$1,900$21K-$38K-$17K$59K
$1,950$15K-$30K-$15K$45K
$2,000$19K-$37K-$18K$56K
$2,050$28K-$13K$15K$40K
$2,100$15K-$4,163$11K$19K
$2,150$8,961-$332$8,629$9,292
$2,200$13K$0$13K$13K
$2,250$11K-$528$11K$12K
$2,300$22K-$546$21K$22K
$2,400$22K-$369$21K$22K
$2,500$14K-$592$13K$14K
$2,600$4,714$0$4,714$4,714
$2,700$4,713-$16$4,697$4,729

ETH gamma exposure, all expiries (model estimate)

assumes dealers are long calls and short puts sold to customers · USD per 1% move
Net GEX model estimate
-$10.39M
calls $9.05Mputs -$19.44M
Largest |GEX| strike model estimate
$1,900
-$4.65M per 1% move
Zero-gamma level model estimate
$1,924.4
1.8% above spotindex $1,890
Total gamma, unsigned model estimate
$28.49M
no positioning assumption

Estimated dealer gamma exposure by strike, all expiries (model estimate)

assumes dealers are long calls and short puts sold to customers: calls above the line, puts below · USD per 1% move
  • Calls (+)
  • Puts (−)
  • Zero-gamma level
  • Index price
-$6M -$4M -$2M $0 $2M 1.2K 1.8K 1.91K 1.98K 2.04K 2.11K 2.18K 2.5K 1,200: calls $5.05K, puts -$31K, net -$26K per 1% move (model estimate) 1,300: calls $309, puts -$16.2K, net -$15.9K per 1% move (model estimate) 1,400: calls $9.63K, puts -$129K, net -$120K per 1% move (model estimate) 1,500: calls $7.18K, puts -$253K, net -$246K per 1% move (model estimate) 1,600: calls $68.7K, puts -$403K, net -$334K per 1% move (model estimate) 1,650: calls $0, puts -$11.6K, net -$11.6K per 1% move (model estimate) 1,700: calls $30.9K, puts -$475K, net -$444K per 1% move (model estimate) 1,750: calls $5.52, puts -$297K, net -$297K per 1% move (model estimate) 1,800: calls $51.3K, puts -$1.8M, net -$1.75M per 1% move (model estimate) 1,840: calls $0, puts -$57.8K, net -$57.8K per 1% move (model estimate) 1,850: calls $84.1K, puts -$2.78M, net -$2.69M per 1% move (model estimate) 1,860: calls $5.95K, puts -$366K, net -$360K per 1% move (model estimate) 1,875: calls $64.5K, puts -$2.8M, net -$2.74M per 1% move (model estimate) 1,880: calls $24.2K, puts -$478K, net -$453K per 1% move (model estimate) 1,890: calls $14K, puts -$59.8K, net -$45.8K per 1% move (model estimate) 1,900: calls $783K, puts -$5.44M, net -$4.65M per 1% move (model estimate) 1,910: calls $78K, puts -$150K, net -$72.3K per 1% move (model estimate) 1,920: calls $289K, puts -$246K, net $43.4K per 1% move (model estimate) 1,925: calls $621K, puts -$490K, net $131K per 1% move (model estimate) 1,930: calls $173K, puts -$105K, net $67.7K per 1% move (model estimate) 1,940: calls $155K, puts -$113K, net $41.5K per 1% move (model estimate) 1,950: calls $740K, puts -$581K, net $159K per 1% move (model estimate) 1,960: calls $120K, puts -$93.3K, net $26.4K per 1% move (model estimate) 1,970: calls $81.5K, puts -$4.61K, net $76.9K per 1% move (model estimate) 1,975: calls $205K, puts -$123K, net $81.9K per 1% move (model estimate) 1,980: calls $84.4K, puts -$40K, net $44.4K per 1% move (model estimate) 1,990: calls $66.9K, puts -$5.4K, net $61.5K per 1% move (model estimate) 2,000: calls $1.29M, puts -$725K, net $562K per 1% move (model estimate) 2,010: calls $180K, puts -$1.8K, net $178K per 1% move (model estimate) 2,020: calls $114K, puts -$4.93K, net $109K per 1% move (model estimate) 2,025: calls $514K, puts -$35.4K, net $478K per 1% move (model estimate) 2,030: calls $65.1K, puts -$817, net $64.3K per 1% move (model estimate) 2,040: calls $14.8K, puts -$2.42K, net $12.4K per 1% move (model estimate) 2,050: calls $382K, puts -$221K, net $162K per 1% move (model estimate) 2,060: calls $10.5K, puts -$1.23K, net $9.28K per 1% move (model estimate) 2,070: calls $25.1K, puts -$590, net $24.5K per 1% move (model estimate) 2,075: calls $69.1K, puts -$9.73K, net $59.4K per 1% move (model estimate) 2,080: calls $12K, puts -$320, net $11.7K per 1% move (model estimate) 2,090: calls $3.15K, puts -$157, net $2.99K per 1% move (model estimate) 2,100: calls $334K, puts -$304K, net $30.1K per 1% move (model estimate) 2,110: calls $1.04K, puts -$80.1, net $964 per 1% move (model estimate) 2,120: calls $2.64K, puts $0, net $2.64K per 1% move (model estimate) 2,125: calls $41.9K, puts -$2.68K, net $39.2K per 1% move (model estimate) 2,130: calls $5.47K, puts $0, net $5.47K per 1% move (model estimate) 2,140: calls $1.44K, puts $0, net $1.44K per 1% move (model estimate) 2,150: calls $134K, puts -$112K, net $21.6K per 1% move (model estimate) 2,160: calls $2.52K, puts -$6.97, net $2.52K per 1% move (model estimate) 2,175: calls $34.1K, puts -$1.72K, net $32.3K per 1% move (model estimate) 2,180: calls $182, puts -$4.69, net $177 per 1% move (model estimate) 2,200: calls $234K, puts -$217K, net $16.8K per 1% move (model estimate) 2,210: calls $97.2, puts $0, net $97.2 per 1% move (model estimate) 2,250: calls $92.4K, puts -$33.3K, net $59K per 1% move (model estimate) 2,300: calls $228K, puts -$123K, net $105K per 1% move (model estimate) 2,350: calls $62.6K, puts -$15.3K, net $47.4K per 1% move (model estimate) 2,400: calls $140K, puts -$91.8K, net $48.5K per 1% move (model estimate) 2,450: calls $19.3K, puts -$4.47K, net $14.8K per 1% move (model estimate) 2,500: calls $205K, puts -$47.4K, net $158K per 1% move (model estimate) 2,550: calls $3.98K, puts -$140, net $3.84K per 1% move (model estimate) 2,600: calls $449K, puts -$33.5K, net $415K per 1% move (model estimate) 2,650: calls $22.8K, puts -$2.7K, net $20.1K per 1% move (model estimate)

Strikes within ±50% of the index, at most 60 (60 of 106 shown). Net GEX per strike = calls + puts.

Total gamma by strike, all expiries (model estimate)

assumption-free: calls and puts both counted positive · USD per 1% move
  • Total gamma
  • Zero-gamma level
  • Index price
$0 $2M $4M $6M $8M 1.2K 1.8K 1.91K 1.98K 2.04K 2.11K 2.18K 2.5K 1,200: total gamma $36.1K per 1% move (model estimate) 1,300: total gamma $16.5K per 1% move (model estimate) 1,400: total gamma $139K per 1% move (model estimate) 1,500: total gamma $260K per 1% move (model estimate) 1,600: total gamma $472K per 1% move (model estimate) 1,650: total gamma $11.6K per 1% move (model estimate) 1,700: total gamma $506K per 1% move (model estimate) 1,750: total gamma $297K per 1% move (model estimate) 1,800: total gamma $1.85M per 1% move (model estimate) 1,840: total gamma $57.8K per 1% move (model estimate) 1,850: total gamma $2.86M per 1% move (model estimate) 1,860: total gamma $371K per 1% move (model estimate) 1,875: total gamma $2.87M per 1% move (model estimate) 1,880: total gamma $502K per 1% move (model estimate) 1,890: total gamma $73.8K per 1% move (model estimate) 1,900: total gamma $6.22M per 1% move (model estimate) 1,910: total gamma $228K per 1% move (model estimate) 1,920: total gamma $535K per 1% move (model estimate) 1,925: total gamma $1.11M per 1% move (model estimate) 1,930: total gamma $278K per 1% move (model estimate) 1,940: total gamma $268K per 1% move (model estimate) 1,950: total gamma $1.32M per 1% move (model estimate) 1,960: total gamma $213K per 1% move (model estimate) 1,970: total gamma $86.1K per 1% move (model estimate) 1,975: total gamma $329K per 1% move (model estimate) 1,980: total gamma $124K per 1% move (model estimate) 1,990: total gamma $72.3K per 1% move (model estimate) 2,000: total gamma $2.01M per 1% move (model estimate) 2,010: total gamma $181K per 1% move (model estimate) 2,020: total gamma $119K per 1% move (model estimate) 2,025: total gamma $549K per 1% move (model estimate) 2,030: total gamma $65.9K per 1% move (model estimate) 2,040: total gamma $17.2K per 1% move (model estimate) 2,050: total gamma $603K per 1% move (model estimate) 2,060: total gamma $11.7K per 1% move (model estimate) 2,070: total gamma $25.7K per 1% move (model estimate) 2,075: total gamma $78.8K per 1% move (model estimate) 2,080: total gamma $12.3K per 1% move (model estimate) 2,090: total gamma $3.31K per 1% move (model estimate) 2,100: total gamma $638K per 1% move (model estimate) 2,110: total gamma $1.12K per 1% move (model estimate) 2,120: total gamma $2.64K per 1% move (model estimate) 2,125: total gamma $44.6K per 1% move (model estimate) 2,130: total gamma $5.47K per 1% move (model estimate) 2,140: total gamma $1.44K per 1% move (model estimate) 2,150: total gamma $246K per 1% move (model estimate) 2,160: total gamma $2.53K per 1% move (model estimate) 2,175: total gamma $35.8K per 1% move (model estimate) 2,180: total gamma $187 per 1% move (model estimate) 2,200: total gamma $451K per 1% move (model estimate) 2,210: total gamma $97.2 per 1% move (model estimate) 2,250: total gamma $126K per 1% move (model estimate) 2,300: total gamma $351K per 1% move (model estimate) 2,350: total gamma $77.9K per 1% move (model estimate) 2,400: total gamma $232K per 1% move (model estimate) 2,450: total gamma $23.7K per 1% move (model estimate) 2,500: total gamma $252K per 1% move (model estimate) 2,550: total gamma $4.12K per 1% move (model estimate) 2,600: total gamma $482K per 1% move (model estimate) 2,650: total gamma $25.5K per 1% move (model estimate)

Gamma exposure by strike table, all expiries (model estimate)

USD per 1% move · calls count +, puts count −
StrikeCalls GEXPuts GEXNet GEXTotal gamma
$1,200$5,048-$31K-$26K$36K
$1,300$309-$16K-$16K$16K
$1,400$9,626-$129K-$120K$139K
$1,500$7,183-$253K-$246K$260K
$1,600$69K-$403K-$334K$472K
$1,650$0-$12K-$12K$12K
$1,700$31K-$475K-$444K$506K
$1,750$6-$297K-$297K$297K
$1,800$51K-$1.80M-$1.75M$1.85M
$1,840$0-$58K-$58K$58K
$1,850$84K-$2.78M-$2.69M$2.86M
$1,860$5,948-$366K-$360K$371K
$1,875$65K-$2.80M-$2.74M$2.87M
$1,880$24K-$478K-$453K$502K
$1,890$14K-$60K-$46K$74K
$1,900$783K-$5.44M-$4.65M$6.22M
$1,910$78K-$150K-$72K$228K
$1,920$289K-$246K$43K$535K
$1,925$621K-$490K$131K$1.11M
$1,930$173K-$105K$68K$278K
$1,940$155K-$113K$41K$268K
$1,950$740K-$581K$159K$1.32M
$1,960$120K-$93K$26K$213K
$1,970$82K-$4,609$77K$86K
$1,975$205K-$123K$82K$329K
$1,980$84K-$40K$44K$124K
$1,990$67K-$5,402$62K$72K
$2,000$1.29M-$725K$562K$2.01M
$2,010$180K-$1,796$178K$181K
$2,020$114K-$4,927$109K$119K
$2,025$514K-$35K$478K$549K
$2,030$65K-$817$64K$66K
$2,040$15K-$2,416$12K$17K
$2,050$382K-$221K$162K$603K
$2,060$11K-$1,230$9,279$12K
$2,070$25K-$590$25K$26K
$2,075$69K-$9,727$59K$79K
$2,080$12K-$320$12K$12K
$2,090$3,151-$157$2,994$3,308
$2,100$334K-$304K$30K$638K
$2,110$1,044-$80$964$1,124
$2,120$2,639$0$2,639$2,639
$2,125$42K-$2,682$39K$45K
$2,130$5,466$0$5,466$5,466
$2,140$1,442$0$1,442$1,442
$2,150$134K-$112K$22K$246K
$2,160$2,524-$7$2,517$2,531
$2,175$34K-$1,715$32K$36K
$2,180$182-$5$177$187
$2,200$234K-$217K$17K$451K
$2,210$97$0$97$97
$2,250$92K-$33K$59K$126K
$2,300$228K-$123K$105K$351K
$2,350$63K-$15K$47K$78K
$2,400$140K-$92K$48K$232K
$2,450$19K-$4,472$15K$24K
$2,500$205K-$47K$158K$252K
$2,550$3,977-$140$3,836$4,117
$2,600$449K-$33K$415K$482K
$2,650$23K-$2,703$20K$26K

ETH unsigned gamma by expiry, all expiries (model estimate)

no positioning assumption · USD per 1% move · times UTC
Expires within 24 hours model estimate
42.7%
$12.18M of $28.49M per 1% move1 expiry from 1 hour to 24 hours ahead, until 2026-11-15 03:41 UTC
Expires within 7 days model estimate
78.0%
$22.22M of $28.49M per 1% move5 expiries from 1 hour to 7 days ahead, until 2026-11-21 03:41 UTC; includes the 24-hour sample
Eligible total, unsigned model estimate
$28.49M
calls $9.05Mputs $19.44M12 expiries, 1256 options

Scope. Every share here is a fraction of the full eligible all-expiry ETH chain on Bybit and Binance, not of the selected Fri 4 Dec 2026 expiry shown above. Unsigned sensitivity is a model estimate of today's open interest, not dealer direction and not a prediction that this gamma stays unchanged until expiry.

Expiry (UTC)Calls gammaPuts gammaTotal gammaShare of totalOptionsObserved (UTC)
Sat 14 Nov 2026 08:00 · in 4h 18m$2.09M$10.08M$12.18M42.7%1042026-11-14 03:39 UTC
Sun 15 Nov 2026 08:00 · in 1d 4h$1.45M$2.47M$3.92M13.8%1022026-11-14 03:39 UTC
Mon 16 Nov 2026 08:00 · in 2d 4h$1.70M$1.05M$2.75M9.6%822026-11-14 03:39 UTC
Tue 17 Nov 2026 08:00 · in 3d 4h$0$0$00.0%442026-11-14 03:39 UTC
Fri 20 Nov 2026 08:00 · in 6d 4h$1.23M$2.14M$3.37M11.8%1102026-11-14 03:39 UTC
Fri 27 Nov 2026 08:00 · in 13d 4h$759K$1.80M$2.56M9.0%1422026-11-14 03:39 UTC
Fri 4 Dec 2026 08:00 · in 20d 4h$201K$409K$610K2.1%682026-11-14 03:39 UTC
Fri 25 Dec 2026 08:00 · in 41d 4h$1.20M$1.10M$2.29M8.1%1502026-11-14 03:39 UTC
Fri 29 Jan 2027 08:00 · in 76d 4h$210K$174K$384K1.3%902026-11-14 03:39 UTC
Fri 26 Mar 2027 08:00 · in 132d 4h$155K$198K$352K1.2%1362026-11-14 03:39 UTC
Fri 25 Jun 2027 08:00 · in 223d 4h$37K$25K$62K0.2%1142026-11-14 03:39 UTC
Fri 24 Sep 2027 08:00 · in 314d 4h$9,342$5,690$15K0.1%1142026-11-14 03:39 UTC
All eligible expiries$9.05M$19.44M$28.49M100.0%12562026-11-14 03:39 UTC

Nearest 32 expiries at most (12 of 12 listed). Each listed expiry links to its strike view above. Snapshots observed 2026-11-14 03:39 UTC to 2026-11-14 03:39 UTC. Included: 1256 options. Left out: 0 within one hour of expiry, 0 in expiries with missing open interest at an exchange, 0 with snapshots over 20 minutes old or ahead of the clock, 0 without a positive mark IV, forward or strike or with invalid open interest. These exclusions are stricter than the strike charts above, which keep delayed snapshots.

How it is estimated. For each option, GEX = Black-76 gamma (from the exchange's mark implied volatility, forward price, strike and time to expiry, rates at zero) × open interest in ETH × forward² × 1%: the dollar amount of ETH a hedger would trade for a 1% move. Calls count positive and puts negative under the stated assumption; total gamma counts both positive. The zero-gamma level re-evaluates every option's gamma at 81 prices from 20% below to 20% above the index and reports the crossing nearest the index. Expiries less than one hour away are left out. Snapshots every 5 minutes. Not financial advice.

For sensitivity to implied volatility without a positioning assumption, see ETH options vega open interest by expiry (unsigned model estimate).

Ethereum options gamma exposure FAQ

What is gamma exposure (GEX)?

Gamma is how fast an option's delta changes as the price moves. Gamma exposure multiplies each option's Black-76 gamma (from the exchange's mark implied volatility) by its open interest and the forward price squared, times 1%: the dollar amount of the underlying that option hedgers would have to buy or sell for a 1% move. It is a model estimate, not a measured flow.

What does the dealer-positioning assumption mean?

Exchanges publish open interest but not who holds each side. This page assumes dealers are long calls and short puts sold to customers, so calls count as positive and puts as negative gamma for dealers. Positive net gamma means hedging would lean against moves; negative net gamma means hedging would chase them. If the real positioning differs, the sign of the estimate can be wrong; the unsigned total gamma chart makes no assumption about who is long or short.

What is the zero-gamma level?

The price where the estimated net dealer gamma changes sign. We re-evaluate every option's gamma with the forward moved to 81 prices from 20% below to 20% above the index price and report the crossing nearest the index price, or none in range.

Which exchanges are covered?

Ethereum options on Bybit and Binance only, from their public APIs every 5 minutes. Deribit, the largest crypto options exchange, is not included, so these estimates cover part of the market and can differ from gamma figures quoted elsewhere. Expiries less than one hour away are left out because gamma explodes into expiry.

Is this trading advice?

No. Gamma exposure here is a model estimate under a stated assumption, for information only. It is not trading or financial advice.