Dealer Regime Strategy API

Endpoint

curl -H "X-Api-Key: YOUR_API_KEY" \
  "https://lab.flashalpha.com/v1/strategies/dealer-regime/SPY"

import requests

resp = requests.get(
    "https://lab.flashalpha.com/v1/strategies/dealer-regime/SPY",
    headers={"X-Api-Key": "YOUR_API_KEY"}
)
data = resp.json()
print(f"{data['decision']} (score {data['score']}, regime {data['regime']})")

const resp = await fetch(
  "https://lab.flashalpha.com/v1/strategies/dealer-regime/SPY",
  { headers: { "X-Api-Key": "YOUR_API_KEY" } }
);
const data = await resp.json();
console.log(`${data.decision} (score ${data.score}, regime ${data.regime})`);

Response

Returns the standard strategy decision envelope. The metrics and regime fields are specific to this strategy (see below).

{
  "strategy": "dealer_regime",
  "symbol": "SPY",
  "timestamp": "2026-06-05T14:32:11Z",
  "decision": "candidate",
  "score": 72,
  "confidence": 0.83,
  "regime": "positive_gamma_compression",
  "best_structures": [
    {
      "rank": 1,
      "structure": "iron_condor",
      "expiry": "2026-06-19",
      "legs": [
        { "action": "sell", "type": "put", "strike": 588, "delta": -0.25, "premium": 1.42, "quantity": 1 },
        { "action": "buy",  "type": "put", "strike": 578, "delta": -0.12, "premium": 0.72, "quantity": 1 }
      ],
      "credit": 0.70,
      "debit": null,
      "max_profit": 0.70,
      "max_loss": 9.30,
      "breakevens": [587.30],
      "edge_score": 72,
      "liquidity_score": 0.88
    }
  ],
  "metrics": {
    "net_gamma": 4.2e9,
    "underlying_price": 589.12
  },
  "risk_flags": [],
  "why": ["Net dealer gamma is positive and spot sits above the gamma flip, favouring compression."],
  "avoid_if": ["Spot breaks below the gamma flip into negative-gamma acceleration."],
  "data_quality": { "score": 90, "warnings": [] }
}

Notable Metrics

Regime Values

• positive_gamma_compression
• negative_gamma_acceleration
• transition

Errors

About

Dealer regime reads where market makers sit in gamma. From net gamma and net delta, the dealer levels (gamma flip, call wall, put wall), and full vanna/charm exposure, it labels the regime as positive-gamma compression (dealers dampen moves), negative-gamma acceleration (dealers amplify moves), or a transition between the two.

In compressive, positive-gamma regimes the strategy proposes an iron condor to harvest the expected range-bound behaviour. Restrict aggregation to one expiry with expiry when you want a single-tenor read.

Common Use Cases

• Gate strategy on the regime - read regime to sell premium in positive_gamma_compression and stand aside in negative_gamma_acceleration
• Act on the decision - trade only when decision is candidate, and skip no_setup reads without manual review
• Drop in the proposed structure - pull best_structures[] for a ready iron-condor with strikes, credit, and breakevens in compressive regimes
• Catch the turn early - watch for the transition regime and the net_gamma sign flipping around the gamma flip as an early warning
• Size on conviction - scale exposure by score and confidence, and combine net vanna/charm with gamma to gauge regime stability
• Respect the guardrails - honor risk_flags[] and require a clean data_quality before committing capital

Related

Related reading

• Dealer positioning & GEX: a quantitative approach - the gamma mechanics behind the regime label
• ML on options data: a quant guide - feed the regime envelope into a systematic model
• Alpha decay: which signals erode - how fast a regime read goes stale

Complementary endpoints

• Strategy Signals overview - the shared decision envelope across every strategy
• Flow Anomaly - confirm the regime with directional flow tilt
• Vol Carry - pair the regime read with a VRP edge before selling premium