Gamma Heatmap & GEX
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Understanding Gamma Heatmap for Options Trading
Advanced gamma heatmap with GEX curve, call wall, put wall, gamma flip, volatility trigger, JATS PT levels, and India market context for NIFTY and BANKNIFTY traders.
This dashboard is built to answer one trading question clearly: should you fade moves or trade continuation right now. It combines concentration migration, aggregate net GEX, gamma flip, call/put walls, and an execution playbook with trigger, target, and invalidation.
In the India market, that structure matters most in highly traded index products like NIFTY and BANKNIFTY, where weekly expiries, round strikes, and aggressive intraday option writing can shape the session corridor. The goal is not to predict every tick. The goal is to identify whether dealer flow is likely to absorb movement or accelerate it.
Terminology Map for Indian Options Traders
Gamma
the standardized Greek. It tells you how fast delta changes as spot moves.
GEX
a modeled read of aggregate dealer gamma. It helps classify the session as mean-reverting or expansion-prone.
Call Wall / Put Wall
the practical upside and downside boundaries created by concentrated options positioning.
Gamma Flip / Zero Gamma
the regime crossover where dealer hedging is expected to shift from stabilizing to destabilizing or the other way around.
Volatility Trigger
a model-level risk threshold where structure is more likely to stop damping movement and start allowing range expansion.
JATS PT Levels
platform-specific tactical levels that should be used with walls, trend acceptance, and intraday price action.
How Traders Should Use It (Intraday Workflow)
Start with Regime
If aggregate net GEX is positive, expect mean reversion. If negative, expect expansion and momentum continuation.
Mark Corridor
Use Put Wall / Support as lower band and Call Wall / Resistance as upper band. This is your expected operating zone.
Watch Heatmap Migration
Rising concentration and positive delta at a strike means positioning is building there. Repeated build-up often acts like a magnet or barrier.
Use Gamma Flip as Risk Switch
Above/below flip can change dealer hedge behavior. Reduce size when price is near flip and direction is unclear.
Execute from Playbook
Follow trigger-target-invalidation from the Execution Playbook and avoid discretionary overtrading between levels.
India-Specific Execution Notes
Revalidate after the open
overnight global cues can make yesterday's wall map stale within the first half hour.
Respect weekly expiry dynamics
index options can pin hard near active strikes until a burst of directional flow forces repositioning.
Be stricter on stock options
single stocks have thinner liquidity and can ignore beautiful structure if volume concentration is weak.
Downgrade confidence on event days
RBI, Union Budget, CPI, and large global macro shocks can overpower normal dealer hedging behavior.
Practical Setup Rules
Positive Gamma
Prefer support buys and resistance fades. Take profits faster near peak gamma/max pain.
Negative Gamma
Prefer breakout continuation after level acceptance. Avoid premature fading.
Near Expiry + High Pin Risk
Directional conviction should be lower unless a clean breakout confirms.
Display Type Usage
Use Combined for net pressure, CE-only to locate upside call concentration, PE-only to locate downside put concentration.
Continue your market analysis
Related options modules to validate the signal from another angle.