GEX and the flip point
What gamma exposure is, the flip point and the futures ↔ ETF bridge.
GEX (Gamma Exposure) estimates the aggregate gamma exposure of market makers, strike by strike. It helps you understand the day’s volatility regime.
The flip point
The flip point (zero-gamma) is the price where net gamma changes sign: above it, moves tend to be dampened; below it, amplified. Konsole computes a spot-reactive flip level, with a cumulative fallback method when volatility/expiry data is thin.
Futures ↔ ETF bridge
The options chain we read lives on the ETFs (QQQ/SPY), while you trade the futures. The bridge aligns those option levels onto the futures chart: NQ with QQQ and ES with SPY. That way you see the flip and the GEX profile directly on the price you trade. Options and ETFs are not tradable from the platform: they are an analysis layer.
Historical GEX
With ⏳ HISTORICAL GEX you reconstruct the GEX and options flow of a past session from historical data.