Learn Center

Begin with the Beginner learning path, which covers options foundations, payoff diagrams, gamma, and GEX. Each module takes 7–9 hours and uses the live CryptoGamma dashboard as a practical reference. After completing Beginner, move to Intermediate for GEX analysis, skew, and term structure. The Advanced (Vol Lab) path teaches the Ravagli (2024) framework in ~40 minutes of focused content.

GEX aggregates the gamma of all open option positions weighted by open interest. When dealer GEX is positive, they buy dips and sell rips while hedging, dampening volatility. When GEX is negative, dealer hedging amplifies moves. Understanding GEX helps traders identify squeeze levels, anticipate volatility regime changes, and size positions relative to market-maker flow.

The Vol Lab is CryptoGamma's advanced 8-lesson track (~5 min each) covering the Ravagli (2024) skew-premium framework. Students learn to read the Signal Banner (SELL_SKEW/BUY_SKEW/WAIT), interpret SkewRP and VvolRP metrics, select 25-delta strikes from the Strategy Setup card, and verify historical performance using the Vanna PnL attribution table.

25-delta skew (Skew Delta 25) is IV(25Δ put) − IV(25Δ call). In BTC and ETH options, skew is usually negative because retail and institutional buyers pay a premium for downside protection. Extreme negative skew (below −7%) often signals fear-driven overpaying for puts — a potential harvest opportunity for skew sellers using risk reversals.

Yes. The Beginner path starts from scratch: what options are, how to read a payoff diagram, and the four basic option positions. No prior options knowledge is required. The only prerequisites are a basic understanding of financial markets and interest in Bitcoin or Ethereum trading.