ETH Gamma Exposure Dashboard

Gamma Exposure (GEX) is the aggregate gamma across all open option positions, weighted by open interest. It measures how much the total delta of the options market will shift for every $1 move in the underlying. Positive Net GEX means dealers are long gamma and dampen volatility; negative Net GEX means dealers are short gamma and amplify moves.

Squeeze levels are strike prices where large concentrations of open interest create dealer hedging pressure. The support level is where dealers buy to hedge long puts, providing buying pressure on dips. The resistance level is where dealers sell to hedge short calls. The breakout level is above resistance where gamma thins out and accelerates directional moves.

Put/call ratio is the ratio of total put open interest to total call open interest. Readings above 1 indicate defensive positioning (bearish fear). Readings below 1 indicate bullish positioning. For BTC and ETH on Deribit, the structural baseline is around 0.6; readings near or above 1 are historically rare and often contrarian.

Dealer bias summarises whether market makers are net long or short gamma overall. A bullish bias means dealers have more long-call than short-put gamma exposure, so hedging flows tend to support price. A bearish bias means dealers are short gamma on the downside, and their hedging accelerates any selloff.