Part 11·4 min read
Glossary
TL;DR
- Plain, one-line definitions of every term in the guide.
- Skim it once; refer back whenever a word feels fuzzy.
- Every definition ties back to the panel where the term appears.
Every term in the guide, in one line each.
| GEX (gamma exposure) | The net amount dealers must hedge as price moves; its sign sets the session’s regime. |
| Dealer / market maker | The counterparty to your option who hedges in the underlying to stay direction-neutral. |
| Hedge (delta hedging) | A dealer buying/selling the underlying to offset an option’s directional risk — constant rebalancing. |
| Gamma | How fast a dealer’s hedge must change as price moves; largest near a strike and near expiry. |
| Regime | The net-gamma state of the day: POSITIVE (mean-reverting), NEGATIVE (trending), or NEUTRAL (no edge). |
| Conviction | How much to trust the regime read — HIGH / MEDIUM / LOW; NEUTRAL is always LOW. |
| Zero gamma | The price where dealer positioning flips sign — the session’s regime boundary. |
| Δ vs ZG | Signed distance from spot to zero gamma; small = hugging the line = no edge. |
| Wall | A strike where hedging concentrates — call walls (resistance) above, put walls (support) below. |
| Confluent | A tag meaning the Volume and OI models agree on a side’s strongest wall — a stronger level. |
| OI (open interest) | Standing option positions — slower, more durable than today’s volume. |
| Volume model | GEX from today’s option volume — fast, 0DTE-dominated; drives the regime engine. |
| 0DTE | Same-day-expiry options; the most violent local gamma and the intraday driver. |
| Full (view) | All expiries aggregated — the stable, structural picture. |
| Flow (max change GEX) | Where fresh gamma is building across 1–30 min windows, distilled to UP / DOWN / PIN. |
| PIN | Fresh gamma sitting on spot — price tends to stick and chop; scalp only. |
| Playbook | The deterministic Bias / Favor / Avoid / Targets / Sizing summary of the current structure. |
| Skip trigger / warning | An engine flag that a trade idea is a trap or the read is unreliable — it voids the GEX thesis. |
| Desk Note | An on-demand, one-line AI narration of the engine’s state — never a signal. |
| Basis-adjusted | Futures levels (ES/NQ/GC) shifted so gamma strikes land on your futures chart. |
Do this on the dashboard now
- Skim the list once end-to-end, then keep this page one tab away while you learn the dashboard.
- Whenever a part uses a term you’re unsure of, jump back here.
- Ready? Run the 60-second read live.