Reading the StrikeGEX Heatmap in 60 Seconds

The StrikeGEX heatmap looks complex at first glance, but it's designed to be read in seconds once you know what to look for. Here's your quick-start guide.

The Bars

Each bar represents a strike price. The height and color of each bar tells you two things:

• Height = magnitude: Taller bars mean more gamma at that strike. More gamma = stronger level = more dealer hedging happens here.
• Color = direction:
  • Yellow/Gold bars = positive gamma (call-dominated). Dealers suppress moves here — price tends to stick and chop.
  • Purple bars = negative gamma (put-dominated). Dealers amplify moves here — price tends to accelerate through.

The Key Levels

King Node (Crown Icon)

The tallest bar — the strike with the most total gamma. This is the price magnet. SPX tends to drift toward the king node throughout the session. If you see price far from the king node, expect a gravitational pull back toward it — especially in positive gamma environments.

Gamma Wall

The tallest positive (yellow) bar above the current price. This is resistance. Market makers sell aggressively as price approaches this level, creating a ceiling.

Put Wall

The tallest negative (purple) bar below the current price. This is support. Market makers buy aggressively as price drops toward this level, creating a floor.

Current Price Line

A horizontal marker showing where SPX is trading right now. Use this to see how far price is from key levels.

The Dashboard Numbers

Reading It in Practice

1. Check Total Net GEX. Positive or negative? This tells you the day's character — choppy or trending.
2. Find the King Node. Where is the magnet? Is price above or below it?
3. Spot the Walls. What's the gamma wall (ceiling)? What's the put wall (floor)? This is your range for the session.
4. Trade the range. In positive gamma: fade moves into the walls — sell at the gamma wall, buy at the put wall. In negative gamma: trade breakouts — when a wall breaks, follow the move.

The 0DTE Tab

Switch to the 0DTE tab to see gamma from same-day expirations only. This isolates the most impactful gamma — the options expiring today have the highest gamma and the most aggressive hedging flows. During active market hours, the 0DTE view often gives you a cleaner picture than the all-expirations view.

How Often to Check

GEX levels shift throughout the day as options are traded. Key times to refresh:

• Before the open (9:30 AM ET): Set your levels for the day.
• After the first 30 minutes: Opening flow can shift the king node and walls. Check for changes.
• Midday (12 PM ET): 0DTE gamma starts decaying. Levels may shift.
• Power hour (3 PM ET): Final gamma decay. Levels may narrow significantly.

StrikeGEX updates automatically, so you always see the current landscape. No manual refreshing needed.