What is SteadyTrader?
SteadyTrader turns available options-chain data into modeled dealer-positioning context for active derivatives traders. GEX Terminal shows where modeled gamma exposure is concentrated, so walls, flips, and pressure zones can be read beside price instead of as another number.
How it works
Options dealers hedge the positions they hold by trading the underlying. That hedging can add to or absorb price movement, depending on how the exposure is signed. Gamma exposure (GEX) is an estimate of how much hedging a move in price would call for.
Where modeled gamma is positive, hedging tends to work against the move and price can settle. Where it is negative, hedging tends to work with the move and price can travel further. SteadyTrader models this from the options chain using a call-positive, put-negative sign assumption and updates it throughout the session. Dealer inventory is not observed, so every level is a modeled estimate. The methodology covers the steps.
How we build GEX Terminal
- Model the chain, not a shortcut. Dealer positioning modeled from the options chain, updated throughout the session.
- Put context beside price. Walls, flips, and pressure zones belong in the trading workspace, where they can be compared with price and orderflow.
Glossary
- Gamma exposure (GEX). Modeled dealer gamma at each strike, signed call-positive and put-negative.
- Gamma flip. The price where modeled net gamma changes sign.
- Call wall. The strike with the largest modeled call gamma, often read as an upper reference.
- Put wall. The strike with the largest modeled put gamma, often read as a lower reference.
- Pressure zone. A band of strikes where modeled exposure is concentrated.
- Unusual flow. Option volume that stands out against a contract's recent activity, estimated from sampled volume and quote midpoints.
- Historical replay. Stepping back through earlier sessions to see how modeled levels sat beside price.