Exposure Term Structure API

Endpoint

curl -H "X-Api-Key: YOUR_API_KEY" \
  "https://lab.flashalpha.com/v1/exposure/term-structure/SPY"

import requests

resp = requests.get(
    "https://lab.flashalpha.com/v1/exposure/term-structure/SPY",
    headers={"X-Api-Key": "YOUR_API_KEY"}
)
data = resp.json()
for b in data["by_dte_bucket"]:
    print(f"{b['bucket']}: net GEX {b['net_gex']:,}")

const resp = await fetch(
  "https://lab.flashalpha.com/v1/exposure/term-structure/SPY",
  { headers: { "X-Api-Key": "YOUR_API_KEY" } }
);
const data = await resp.json();
data.by_dte_bucket.forEach(b =>
  console.log(b.bucket + ": net GEX " + b.net_gex.toLocaleString()));

Response

{
  "symbol": "SPY",
  "underlying_price": 597.50,
  "as_of": "2026-05-29T15:30:00Z",
  "by_dte_bucket": [
    { "bucket": "0-7d",    "dte_range": [0, 7],    "net_gex": 920000000,  "net_dex": -120000000, "net_vex":  85000000, "net_chex": 380000000, "contract_count": 412 },
    { "bucket": "8-30d",   "dte_range": [8, 30],   "net_gex": 1280000000, "net_dex": -200000000, "net_vex": 540000000, "net_chex": 340000000, "contract_count": 1810 }
  ],
  "by_expiry": [
    { "expiration": "2026-05-30", "dte": 1,  "is_opex": false, "is_triple_witching": false, "net_gex": 320000000, "net_dex": -50000000, "net_vex": 25000000, "net_chex": 180000000, "pct_of_chain_gex": 10.91 },
    { "expiration": "2026-06-18", "dte": 20, "is_opex": true,  "is_triple_witching": true,  "net_gex": 980000000, "net_dex": -160000000, "net_vex": 420000000, "net_chex": 260000000, "pct_of_chain_gex": 33.42 }
  ]
}

Key Response Fields

Errors

About

The term-structure endpoint slices a symbol's options chain by time rather than by strike, aggregating GEX, DEX, VEX and CHEX into standard DTE buckets and rolling the same greeks up per individual expiry. A single call returns what would otherwise require four separate full-chain exposure requests, already grouped along the time axis.

Buckets that match no contracts are omitted rather than emitted as zero rows, and pct_of_chain_gex falls back to 0 for every row when the chain's total |net_gex| is zero (a safe-divide guard). The per-expiry rollup carries OPEX and triple-witching flags so you can spot where the chain's gamma concentration sits in time.

Common Use Cases

• Plot the exposure term-structure curve - the per-DTE-bucket rows draw a gamma curve across the chain so you can see whether positioning is front- or back-loaded in time
• Find the dominant expiry - pct_of_chain_gex ranks each expiry's share of total chain gamma to pinpoint where dealer concentration sits
• Separate pinning from structural positioning - isolate the near-dated 0-7d buckets that drive expiry pinning from longer-dated, slower-moving exposure
• Flag event expiries in time - the per-expiry OPEX and triple-witching flags mark where gamma concentration coincides with scheduled unwinds
• Handle sparse buckets safely - empty buckets are omitted rather than zero-filled and pct_of_chain_gex safe-divides to 0, so charts stay clean on thin chains
• Pair with skew and VRP across tenors - read the gamma curve alongside skew term structure and VRP history to align positioning with the vol term structure

Related

Related reading

• GEX/DEX/VEX/CHEX: an 8-year backtest vs VIX - what the exposure greeks predict across the term structure

Complementary endpoints

• Gamma Exposure (GEX) - the per-strike gamma sheet behind each bucket's totals
• Exposure Sheet - the full per-strike greek sheet aggregated here by expiry
• Skew Term Structure - how implied skew evolves across the same tenors
• VRP History - realized-vs-implied premium to frame the term structure