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GEXbot is an options analytics platform that maps exposure across strike prices and tracks changes in options flow during the trading session. Its live tools cover a supported set of US indices, stocks and ETFs, with futures conversion available for relevant index products.
The platform’s main distinction is how it organizes the data. Classic shows a conventional gamma-exposure map. State adds classified transaction profiles. Orderflow follows those classified flows over time. Understanding that progression is more useful than treating every display as another version of the same indicator.
For an active trader, the practical questions are where options activity is concentrated, how that concentration is changing, and whether new flow supports the current view of price action.
At a glance
| Field | Details |
|---|---|
| Type | Gamma-exposure maps and classified options flow |
| Markets | Supported US indices, stocks and ETFs; index-to-futures conversion |
| Core use | Compare Classic exposure with State profiles and Orderflow changes |
| Best fit | Active traders researching options structure and intraday activity |
| Access | Ticker coverage and integrations vary by package |
Table of contents
Browse sections
Classic, State and Orderflow explained
Classic: a map of gamma exposure
Classic displays gamma exposure, or GEX, in a ladder-style histogram organized by strike. It offers both open-interest-weighted and volume-weighted views, alongside major levels and historical comparisons.
Its calculation uses a conventional sign assumption: call gamma contributes positively and put gamma negatively. GEXbot describes this as naive GEX. That assumption makes the chart interpretable, but it does not establish which participants actually hold each side of every contract.
Classic is a useful starting point for identifying concentrations of activity and watching how the gamma profile changes. Expiration selection matters: a current-session view can look very different from an aggregate covering the next 90 calendar days.
State: classified profiles across strikes
State uses GEXbot’s proprietary classification model to distinguish taker buying from taker selling by comparing transactions with theoretical option values. A taker is the side seeking immediate execution; it is a trading role rather than a label for a particular institution.
The resulting profiles can be viewed through options volume, GEX, delta exposure, convexity, vanna and charm. These views help examine where different kinds of modeled risk are concentrated.
One important limitation is explicit in the documentation: the classification does not distinguish opening trades from closing trades. Taker buying therefore should not automatically be described as a newly opened long position. State’s profiles are estimates derived from classified transactions, rather than a complete record of outstanding positions.
Orderflow: changes through time
Orderflow turns classified transactions into time-series charts, focusing on the nearest and following expirations. Its metrics answer different questions:
- Aggregate DEX: The cumulative delta transacted since the session opened. This helps track the session’s accumulated directional flow.
- Net DEX and Net GEX: Current net taker exposure measures within GEXbot’s model of the selected chain.
- DEX Orderflow and GEX Orderflow: Changes in taker exposure over the most recent second, highlighting the pace of activity.
An accumulated total, a current exposure reading and a one-second change measure different things. Comparing them can be useful, but calling all three “money flowing into the market” loses the distinction that makes the tools valuable.
Understanding the main gamma levels
Classic includes several reference points:
Major Positive Gamma and Major Negative Gamma identify prominent positive and negative areas in its calculated profile. They help focus attention on places where options-related behavior may become relevant as price approaches.
Zero Gamma is calculated from a fitted curve through the profile. In Classic’s volume-based view, it is the curve’s zero crossing between the major negative and positive strikes. It should be interpreted using GEXbot’s own methodology; a similarly named level from another provider may use a different calculation.
Max Change strikes and lookback dots show where GEX has changed over specified intervals. This adds a useful question to a static level: is the concentration still there, growing or fading?
These readings organize a market view. They do not establish a guaranteed ceiling, floor or reversal point. Their interpretation depends on the selected model, expiry range and activity around the level.
Why two GEX charts can disagree
Before deciding that one chart is wrong, compare their inputs:
- Weighting: Open interest represents outstanding contracts from the clearing process; volume counts contracts traded during the session. The same contract can trade more than once.
- Classification: Classic’s call-positive, put-negative convention differs from State’s classified-flow approach.
- Expiration range: Current-session, next-expiration and broader-chain views describe different exposures.
- Timestamp: A morning reference may differ substantially from an updated intraday profile.
- Price scale: An index level and a futures-converted level may represent the same area on different scales.
For example, heavy trading at a strike can change its volume-weighted profile while the published open-interest count stays unchanged. That difference is informative: the two views are measuring different inputs.
How often does GEXbot update?
GEXbot documents a one-second calculation cycle for Classic, State and Orderflow during regular US market hours, 9:30 a.m. to 4:00 p.m. Eastern Time. This describes calculation cadence, rather than a guarantee that every screen receives each update with exactly one second of latency.
Open-interest contract counts refresh in the morning. However, OI-based GEX can still change intraday because the calculation also depends on the underlying price and option sensitivities. Daily OI updates do not imply a frozen gamma chart.
After the close, the live products hold the completed session’s snapshot until the next refresh. Expiration buckets advance during the morning premarket process, so an overnight chart should be read with its session and expiration labels in mind.
Getting started
Begin with Classic and one supported instrument before adding the classified-flow tools.
- Choose the symbol and scale. Confirm the ticker in the supported universe. For converted symbols such as ES_SPX or NQ_NDX, remember that the inputs are index options displayed on a futures price scale.
- Set up Classic. Choose open-interest or volume weighting, then select the expiration range. Read the major positive, major negative and zero-gamma references within that configuration.
- Add one State profile if included. Keep the instrument and expiration cohort consistent, then choose the exposure metric being investigated, such as GEX or delta. Do not compare a changed metric as though only positioning changed.
- Check Orderflow and session time. Distinguish cumulative Aggregate DEX from current net exposure and one-second changes. Confirm whether the display is live, a completed-session snapshot or historical playback.
Suppose a large concentration identified earlier in the session fades while price approaches it. The useful observation is that the original reference has changed. Recording that change before the outcome is known provides a better evaluation of the tool than drawing an explanation around the finished price chart.
Coverage, integrations and other packages
Check the official ticker documentation for the live products’ supported universe. GEXbot’s broader Research coverage should not be assumed to apply to every streaming package.
Official integrations include Sierra Chart, NinjaTrader, ATAS, Bookmap, MotiveWave and Quantower. TradingView support uses a desktop companion. Available displays and setup requirements vary by integration, so verify the particular tool you need on your platform.
Futures traders should also distinguish the data source from the display scale. Symbols such as ES_SPX and NQ_NDX represent index-options analytics adjusted to a futures price scale. They should not be mistaken for exposure calculated from the native ES or NQ options chain.
Two additional offerings serve different needs:
- Quant provides streaming and historical data for users building their own analytics or systematic workflows.
- Research, or gbR, offers on-demand options analysis across a broader universe, including Greek exposures, volatility surfaces and data exports. Its documented 15-minute request-cache intervals during market hours differ from the live packages’ streaming cadence.
Choosing a GEXbot subscription
Choose around the information you will actually use. Classic addresses exposure maps and major references. State adds classified profiles, while Orderflow adds time-based analysis. These core packages include package-specific REST API access. Quant is geared toward low-latency streaming and more granular programmatic or historical-data workflows; Research serves broader on-demand analysis.
Use the official pricing page to confirm the current cost, included packages, billing period and any introductory terms. Also check ticker coverage, integration support, history access and API allowances for the selected subscription.
GEXbot is most worth evaluating when options structure and intraday flow already matter to your trading process. A focused test is to identify one recurring decision it should improve, then record whether its information changes that decision consistently. That gives the subscription a clearer purpose than simply adding another chart to the screen.