Option Gex Profile displays the real market maker gamma exposure (GEX) as a vertical profile panel on the right side of your chart, showing the distribution of dealer gamma exposure across all strike prices. It is similar to a volume profile but instead of volume, it shows where the most significant dealer gamma exposure exists - helping you identify key levels where dealer hedging activity is concentrated.

Note: Option Gex Profile is available on SPX only, as it requires real CBOE participant data.

How to Add Option Gex Profile

Method 1 - Via Indicator Tab

1. Go to New in the top menu

2. Click on Option Chart

   

3. A Select Instrument dialog will appear. Since Option Big Flows requires CBOE data, select SPX - Symbol: ES-CME, Exchange: CME

   

4. Click to open the chart

5. Once the Option Chart is loaded, click the Indicator Add button on the chart toolbar

6. Search for Option Gex Profile and click + to add it

7. Click the settings icon to open the configuration window

   

Method 2 - Via Templates Bar

Once the Option Chart is open, you can quickly enable the Option Gex Profile directly from the Templates bar at the bottom of the chart.

• Locate the Templates bar at the bottom of the Option Chart

• Click on GEX-P to instantly load the Option Gex Profile on your chart

  

Once the Option Gex Profile is enabled, you can access its settings at any time by right-clicking on the GEX-P tab in the Templates bar and selecting Settings.

Understanding the Profile

The Option Gex Profile can be viewed in two ways depending on the Data source selected:

Gex (default) - displays a single profile where green bars represent positive GEX (call side) and purple bars represent negative GEX (put side). The longer the bar, the stronger the dealer exposure at that strike

Gex split - displays the call and put GEX side by side from a center line. Green bars extend to the right showing call side exposure and purple bars extend to the left showing put side exposure. This gives you a clear visual comparison of where calls dominate versus where puts dominate at each strike level

Understanding Key Terms

Before choosing a data source, it helps to understand a few core options concepts:

• Call - An option that gives the buyer the right to buy the underlying at a set price. Traders buy calls when they expect price to go up

• Put - An option that gives the buyer the right to sell the underlying at a set price. Traders buy puts when they expect price to go down

• Gamma - A measure of how much an option’s delta changes as price moves. High gamma means dealers need to hedge more aggressively as price approaches a strike

• GEX (Gamma Exposure) - An estimate of the gamma exposure dealers are carrying at a given strike, combining volume with the gamma greek

• DEX (Delta Exposure) - An estimate of the delta exposure dealers are carrying at a given strike, showing directional hedging pressure rather than gamma sensitivity

• OI (Open Interest) - The total number of option contracts currently open and not yet closed or expired

• OI-R (Real-Time Open Interest) - Since official exchange open interest is only released at end of day, DeepChart calculates open interest in real time from live CBOE buy and sell flow. For example, if there are 2 sells and 1 buy, there is a net open position of 1. This gives an up to date view of open interest without waiting for the exchange’s end of day figures

• Market Maker Net Flow - The net delta flow generated specifically by market maker buy and sell activity, isolating dealer side positioning from overall market activity
  
  

Settings

General

Data source - Choose what data is used to build the profile. Options available:

• Gex (Market Maker) (default) - uses real CBOE reported market maker gamma exposure, showing net dealer exposure at each strike, also known as the “convexity ladder” on other platforms.
  Use this when: you want the most reliable read on real dealer gamma hedging pressure

• Gex (Market Maker C/P) - same real market maker gamma data, but split into separate call and put sides rather than shown as a single net value.
  Use this when: you want to see call side and put side dealer exposure separately rather than netted together

• Market Maker Net Flow - shows the net delta flow generated by market maker buy and sell activity.
  Use this when: you want to isolate dealer side flow specifically, separate from overall market activity

• Call/Put OI-R - displays real time open interest for calls and puts.
  Use this when: you want to see live standing positions without any gamma weighting

• Dex (Market Maker) - uses real CBOE reported market maker delta exposure, also known as the “DEX ladder” on other platforms.
  Use this when: you want to see dealer directional hedging pressure rather than gamma sensitivity

• Gex (Call OI-R - Put OI-R) - calculates gamma exposure using real time open interest as the base instead of session volume, also known as “state” GEX on other platforms. Since DeepChart calculates this open interest directly from live CBOE flow, this version is more accurate than the same calculation on platforms without direct CBOE access.
  Use this when: you want a structural view of gamma exposure based on live positioning, rather than one driven by today’s volume

Background/Text

Background

• Call / Positive - Set the color for the call side background. Default is green

• Call / Positive (put side) - Set the color for the put side background. Default is purple

Text

• Enabled - Toggle to show or hide text labels on the profile. Default is disabled

• Text size - Set the font size for the text labels. Default is 11

• Text call positive - Set the text color for call side labels. Default is white

• Text put negative - Set the text color for put side labels. Default is white

Disputed

• Highlight - When enabled, highlights strikes where the data is disputed or overlapping between call and put activity. Default is disabled

• Call / Positive - Set the highlight color for the call side. Default is green

• Call / Positive (put side) - Set the highlight color for the put side. Default is purple

Plot Settings

Width/Offset

• Width type - Choose how the profile width is calculated. Options available:

  • Automatic (default) - DeepChart automatically sets the profile width based on the current chart view

  • Percentual period - sets the width as a percentage of the visible chart period

  • Window width - sets the width based on the current visible window

  • Fixed bars - sets a fixed number of bars for the profile width

• Current Width - Set the width of the current session profile. Default is 10

• Current Offset - Set the horizontal offset of the current session profile. Default is 0

• Previous Width - Set the width of previous session profiles. Default is 15

• Previous Offset - Set the horizontal offset of previous session profiles. Default is 0

Visual Appearance

• Number of profile - Set how many session profiles are displayed on the chart. Default is 5

• Vbp opacity - Set the opacity of the profile bars. Default is 90

• Border width - Set the border width of the profile bars. Default is 1.00

• Show above bars - When enabled, the profile is displayed on top of the price bars. Default is disabled

• Visual style - Choose between Solid or Hollow profile bars. Default is Solid

• Align to the right - When enabled, aligns the profile to the right side of the chart. Default is disabled

• Always visible - When enabled, keeps the profile visible even when scrolling outside its range. Default is disabled

  

Peak

The Peak section highlights the highest and lowest GEX concentration points on the profile.

Positive (Call Side)

• Enable - Toggle to show or hide the positive peak. Default is disabled

• Highlight - When enabled, highlights the bar with the highest positive GEX on the profile. Default is disabled

• Highlight Color - Set the highlight color. Default is green

• Show Line - When enabled, draws a horizontal line at the peak positive GEX level. Default is enabled

• Line Color - Set the line color. Default is green

• Line Width - Set the line width. Default is 1

• Line Style - Choose between Solid, Dash, Dot, Dash dot, or Dash dot dot. Default is Dash

Negative (Put Side)

• Enable - Toggle to show or hide the negative peak. Default is disabled

• Highlight - When enabled, highlights the bar with the highest negative GEX on the profile. Default is disabled

• Highlight Color - Set the highlight color. Default is purple

• Show Line - When enabled, draws a horizontal line at the peak negative GEX level. Default is enabled

• Line Color - Set the line color. Default is purple

• Line Width - Set the line width. Default is 1

• Line Style - Choose between Solid, Dash, Dot, Dash dot, or Dash dot dot. Default is Dash

  

Rolling Values

Rolling Values shows how the GEX profile looked at specific time intervals ago, plotted as lines on the current profile. This helps you see how the dealer gamma exposure has shifted over time during the session.

M1

• Enable - Toggle to show or hide the 1 minute rolling value. Default is disabled

• Line Width - Default is 1

• Line Style - Choose between Solid, Dash, Dot, Dash dot, or Dash dot dot. Default is Dot

• Line Style (color) - Set the color for this rolling value

M5

• Enable - Toggle to show or hide the 5 minute rolling value. Default is disabled

• Line Width - Default is 1

• Line Style - Choose between Solid, Dash, Dot, Dash dot, or Dash dot dot. Default is Dot

• Line Style (color) - Set the color for this rolling value

M15

• Enable - Toggle to show or hide the 15 minute rolling value. Default is disabled

• Line Width - Default is 1

• Line Style - Choose between Solid, Dash, Dot, Dash dot, or Dash dot dot. Default is Dash

• Line Style (color) - Set the color for this rolling value

M30

• Enable - Toggle to show or hide the 30 minute rolling value. Default is disabled

• Line Width - Default is 1

• Line Style - Choose between Solid, Dash, Dot, Dash dot, or Dash dot dot. Default is Solid

• Line Style (color) - Set the color for this rolling value

  

Summary

The Summary section displays running total values directly on the chart, based on your selected Data source, giving you a quick net read without scanning the full profile.

• Enable Summary - Toggle to show or hide the summary values on the chart. Default is disabled

• Text Color - Set the color for the summary text. Default is white

• Positive Color - Set the color for positive summary values. Default is green

• Negative Color - Set the color for negative summary values. Default is red

• Text size - Set the font size for the summary text. Default is 12.00

Example - How to Use Option Gex Profile

Once added to your chart, the Option Gex Profile appears as a vertical panel on the right side. Here is a simple way to read it:

• Start with the auction itself. Use volume profile and price action to identify where the market has accepted or rejected value, and where key structural levels already sit. This gives you the context of what the market is actually doing before you bring options data into the picture

• Then overlay the Gex Profile to see where dealer positioning is concentrated relative to those levels. When a significant strike lines up with a level the market has already shown interest in, it adds weight to that area, but it does not guarantee a reaction. Price can slow down and reverse there, or it can push straight through, the auction can resolve either way

• Confirm what is actually happening with order flow tools like Big Flows or a footprint chart. Watch for exhaustion or absorption to judge whether a level is holding, or continued aggression to judge whether it is likely to break

• The profile supports several data sources, gamma exposure, delta exposure, net flow, and open interest, each highlighting a different type of dealer positioning. Switching between them changes what you are measuring, but the overall approach stays the same, use it as context alongside the auction, not as a standalone signal

• Backtest and forward test how price behaves around these levels over time. Markets have their own rhythm, and building a feel for how a specific level type reacts in different conditions takes repeated observation, not a single rule

  

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