Gamma Exposure (GEX) API

What Is Gamma Exposure?

Gamma exposure (GEX) measures the dollar amount of shares that options dealers must buy or sell to delta-hedge for every 1% move in the underlying price. When dealers are long gamma (positive GEX), they buy dips and sell rallies — dampening volatility and creating mean-reverting, range-bound markets. When dealers are short gamma (negative GEX), their hedging amplifies moves — leading to trending, volatile price action. The gamma flip point marks where net exposure switches sign, often acting as a key pivot level.

Common Use Cases

• Identify the gamma flip point — the strike where dealers switch from long to short gamma, often a major pivot level
• Find support/resistance zones — strikes with high positive GEX act as magnets that absorb price moves
• Gauge market regime — positive net GEX means mean-reverting; negative net GEX means trending/volatile
• Detect pinning risk — high GEX concentration at a strike near expiry can pin the underlying price
• Size positions — use the magnitude of GEX to calibrate expected volatility and set stop distances

When to Use This Endpoint

Use the GEX endpoint when you need strike-level detail — the full distribution of gamma exposure across all strikes. For a quick aggregate view without the per-strike breakdown, use the Summary endpoint. For a plain-English interpretation of the gamma regime, use the Narrative endpoint. If you also need delta, vanna, or charm exposure, query those endpoints separately or use Summary for all four at once.

Endpoint

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

import requests

resp = requests.get(
    "https://lab.flashalpha.com/v1/exposure/gex/SPY",
    headers={"X-Api-Key": "YOUR_API_KEY"}
)
data = resp.json()
print(f"Net GEX: ${data['net_gex']:,.0f}")
print(f"Gamma Flip: {data['gamma_flip']}")

const resp = await fetch(
  "https://lab.flashalpha.com/v1/exposure/gex/SPY",
  { headers: { "X-Api-Key": "YOUR_API_KEY" } }
);
const data = await resp.json();
console.log(`Net GEX: $${data.net_gex.toLocaleString()}`);
console.log(`Gamma Flip: ${data.gamma_flip}`);

Response

{
  "symbol": "SPY",
  "underlying_price": 597.505,
  "as_of": "2026-02-28T16:30:45Z",
  "gamma_flip": 595.25,
  "net_gex": 2850000000,
  "net_gex_label": "positive",
  "strikes": [
    {
      "strike": 575.0,
      "call_gex": 12500000,
      "put_gex": 8900000,
      "net_gex": 21400000,
      "call_oi": 15000,
      "put_oi": 12000,
      "call_volume": 250,
      "put_volume": 180,
      "call_oi_change": 500,
      "put_oi_change": -200
    }
  ]
}

Key Response Fields

Errors

Plans & Rate Limits