Know where the market will turn

The total gamma of market makers' option positions at each strike. It shows where they must buy or sell the underlying to hedge — and these flows create support and resistance levels.

The Call Wall is the strike with the largest positive Call GEX, often acting as resistance. The Put Wall is the strike with the largest Put GEX, often support. Marked P1/P2 and N1/N2 on the chart.

The price level where total GEX changes sign. Above it, hedging dampens moves (range); below it, hedging amplifies them (trends, squeezes). A key market-regime reference.

Deribit options data (OI, Greeks, IV) plus Bybit, OKX and Binance aggregation. Live mode refreshes every 60 seconds; historical snapshots are available for any date.

BTC and ETH — crypto's largest options markets. Each supports exchange filters, expiration (DTE) filters and ±5% zoom around spot.

For intraday and near-term levels pick the front expiration (1–2 DTE) — its gamma dominates today's hedging. For a broader structural view select a wider range or a weekly (W). Max Pain is most meaningful on a single near-term expiry; in the TOTAL view use the gamma-weighted Flip Point instead.

The Flip Point moves as open interest and price shift: new positioning, an expiry rolling off, or price crossing a large strike all redraw the net-GEX profile. It is recomputed each refresh, so a jump usually means the gamma structure genuinely changed.

On the free tier the GEX terminal shows delayed history (live is subscription-based), so the newest bar is intentionally behind real time. If a snapshot looks empty or old, switch the date/hour in the calendar or pick another exchange — empty slots mean no snapshot for that exact time, not a stuck value.