Exposure Summary API

Endpoint

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

import requests

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

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

Response

{
  "symbol": "SPY",
  "underlying_price": 597.505,
  "as_of": "2026-02-28T16:30:45Z",
  "gamma_flip": 595.25,
  "regime": "positive_gamma",
  "exposures": {
    "net_gex": 2850000000,
    "net_dex": -450000000,
    "net_vex": 1200000000,
    "net_chex": 850000000
  },
  "interpretation": {
    "gamma": "Dealers long gamma  -  expect range-bound, mean-reverting price action",
    "vanna": "Positive vanna  -  benefits from vol compression",
    "charm": "Time decay favors dealers  -  supports decline into close"
  },
  "hedging_estimate": {
    "spot_down_1pct": { "dealer_shares_to_trade": 4780000, "direction": "BUY", "notional_usd": 2852000000 },
    "spot_up_1pct": { "dealer_shares_to_trade": -4780000, "direction": "SELL", "notional_usd": 2852000000 }
  },
  "zero_dte": { "net_gex": 285000000, "pct_of_total_gex": 10.0, "expiration": "2026-02-28" }
}

Key Response Fields

What Is the Exposure Summary?

The Summary endpoint returns a complete options exposure overview in a single API call. Instead of querying GEX, DEX, VEX, and CHEX separately, you get all four aggregate values plus the current gamma regime (positive, negative, or unknown), plain-English interpretations for each metric, dealer hedging estimates for ±1% spot moves, and the percentage contributed by same-day (0DTE) options. This is the most efficient endpoint for building dashboards or monitoring tools.

Common Use Cases

• Populate a one-call dashboard - read exposures.net_gex, net_dex, net_vex, and net_chex in a single request to fill an entire exposure panel instead of querying four endpoints
• Gate strategy on the regime - branch on regime (positive_gamma vs negative_gamma): run mean-reversion when dampened, momentum when amplified
• Size hedging impact - pull hedging_estimate.spot_down_1pct.dealer_shares_to_trade and direction to gauge how much dealers buy or sell on a 1% move
• Anchor levels off the flip - use gamma_flip as the pivot that separates the dampening zone above from the amplifying zone below
• Trigger regime-change alerts - fire when regime flips or net_gex crosses zero, then attach the interpretation strings as ready-made alert context
• Track same-day risk - watch zero_dte.pct_of_total_gex to know how much of exposure expires today and adjust intraday expectations
• Snapshot for history - store the as_of timestamp with each pull to build a regime and exposure time series

Related

Related reading

• Build a dealer-positioning tracker - wire the summary into a live dealer-hedging and flow monitor

Complementary endpoints

• Narrative - turn the same exposure snapshot into a plain-English briefing
• Key Levels - gamma flip, call wall, put wall, and max pain in one call
• Gamma Exposure (GEX) - the per-strike breakdown behind the aggregate net GEX
• VRP - pair the regime read with the volatility risk premium