GEX defines regime, not entries. Use it to frame behavior and location, then let order flow confirm execution.
GEXBot classic-view sessions on SPX. Zero gamma sets the regime, and the surrounding strikes set the structure inside it.
Above zero gamma, price walks from one positive strike to the next instead of running. Each strike caps the move, gets digested, then holds as support on the pullback. The whole climb happens in stair steps without a real breakout.
The largest negative gamma strike defined the low of the session. Price tagged it once, held, and rallied back above zero gamma for the rest of the day. Max negative gamma can set the low without repeated tests, and reclaiming zero gamma above it is what confirms the rotation higher.
Zero gamma is not a static line. It drifts intraday as positioning shifts. Price tags the moving level, holds, and ramps higher each time. As long as the dynamic zero gamma keeps catching price, it is the level to lean against on pullbacks.
State-view reads where IV across strikes adds the second dimension. Map IV skew alongside the gamma levels to know which ones still matter.
State view shows QQQ compressing between two adjacent strikes. Both walls absorb moves toward their edge and price reverses back inside. Tight pinning means a low-vol environment, and mean reversion works until pinning breaks.
On NDX/NQ, put IV reprices higher while the underlying respects each positive gamma strike on the way down. Expensive put skew means hedgers are paying up, and dealer positive gamma keeps catching the move at each level underneath. Lean long off these levels until either skew calms down or one of them breaks.
In the state view, a negative gamma strike catches the flush and turns into support. Each test arrives with weaker downside momentum and price reclaims off the level. As long as the level holds, lean long; if it gives way, the next positive gamma strike below is the target.
Each dot is IV at a strike. The dotted line connects the cheapest IV across the chain, marking the route through gamma space with least friction. Cheap IV travels easily; expensive IV stacks up and stalls the move.