One workflow, in one workspace
Start with Market Internals → Options Exposure → Key Levels.
| Your plan | Start here |
|---|---|
| Core | Symbol Center, with one symbol |
| Elite | Command Center, with its SPY and QQQ panels |
Start the interactive guide. Stay in that workspace while learning the first analysis.
1. Check market internals
Breadth shows whether many stocks are participating in the move.
- TICK: stocks trading on upticks minus downticks.
- A/D: advancing stocks minus declining stocks.
- A/D Volume: advancing share volume minus declining share volume.
Try it: Click the TICK Matrix header to open its history. Look for repeated pressure, then close the expanded view. One extreme reading does not establish a trend.
2. Set the expiration scope
Scope selects which option expirations feed the exposure view. A preset chooses a defined group. Manual uses your selected start and end expiration dates.
The price chart's 1m, 5m or 1h setting chooses candle length. It does not change expiration scope.
Volume is the volume for today’s trading session across all expirations within the selected scope.
Weekly does not mean a week's accumulated volume. Volume is not limited to options expiring today. If the panel shows As of an earlier date, read it as that session's data.
3. Read the histograms and totals
GEX means gamma exposure. Histogram bars show how exposure is distributed by strike.
| Display | What to inspect |
|---|---|
| OI | Exposure based on stored open contracts |
| Volume | Exposure based on session traded volume |
| Histogram | Which strikes carry the exposure |
| Total bar | The net balance of the corresponding histogram series |
The total's color shows positive or negative direction. Its percentage is absolute net ÷ gross exposure. Gross adds the sizes of positive and negative values without canceling them.
Example: +60 and -40 give net +20 and gross 100. The total bar reads 20%. A small net can hide large opposing exposures.
Try it: Compare the largest OI and Volume bars, then their totals. Use the same symbol and scope. Exposure values are not raw contract counts or proof that options were bought.
4. Locate price beside key levels
| Level | Meaning |
|---|---|
| PG | Strongest positive gamma strike |
| ZG | Calculated zero-gamma transition |
| NG | Strongest negative gamma strike |
Try it: Say whether price is above or below ZG and which level is nearest. These describe location, not guaranteed support or resistance.
On the price chart, open HP → Key Levels. Toggle the levels and compare the chart with them shown and hidden.
Next, open EXP and toggle the Exposure Profile. Compare its OI and Volume bases. Keep only the overlays that help you read price.
5. Customize Market Monitor
Market Monitor puts several symbols in a compact table. In Command Center it sits below the histograms.
Try it: Open the monitor's Customize control. Under Exposure Columns, add DEX OI or another available metric. You can remove it again in the same menu.
The small cells beside each symbol are timeframe readings:
1m · 5m · 15m · 30m · 60m · D · W · M
They mean one, five, fifteen, thirty and sixty minutes, then daily, weekly and monthly. Each cell shows that timeframe's STRAT state. Hover a cell for its label; mixed cells mean the timeframes differ. Decode STRAT labels.
Continue when ready
- VOL Matrix: select Smile for selected expiration curves, then Surface for a date-by-strike IV heatmap.
- Exposure Matrix: compare exposure across strikes and expirations.
- STRAT Matrix: scan more symbols and timeframe states.
- Exposure Flow: inspect changes through a selected session.
You have a useful first read when you can name the symbol, scope and session; explain the exposure distribution and net total; and locate price beside its levels.
Start here lets you resume or restart. Progress stays in this browser. Platform setup is optional.