GEX Screener Guide

Complete guide to using the GEX Screener for options gamma exposure analysis. Learn about all features, filters, and best practices for effective screening.

Overview

The GEX Screener is our flagship tool for analyzing options market data through Gamma Exposure (GEX) analysis. It helps traders identify potential support and resistance levels based on market maker positioning.

Key Features

• Advanced filtering by market cap, index membership, and price range
• Real-time gamma exposure analysis across multiple expiration dates
• Interactive charts with TradingView integration
• Premium features for historical analysis and advanced positioning
• Pagination and efficient data handling for large datasets

Getting Started

Quick Start

1. Create a free account or sign in
2. Navigate to the Screener page
3. Start with basic filters to explore the data
4. Click "View" on any stock to see detailed analysis
5. Consider upgrading to premium for advanced features

Access Requirements

• Free Account: Required for all screener access
• Premium Subscription: Required for advanced filters and historical data
• Authentication: All features require login

Basic Filters

These filters are available to all users and provide fundamental screening capabilities.

Market Cap Filter

• Mega Cap — ≥ $200 billion market cap
• Large Cap — $10B - $200B market cap
• Mid Cap — $2B - $10B market cap
• Small Cap — $300M - $2B market cap
• Micro Cap — < $300M market cap

Index Membership

• S&P 500 — Large-cap U.S. stocks
• Nasdaq 100 — Top 100 non-financial Nasdaq stocks
• Dow Jones — 30 blue-chip industrial companies
• Russell 2000 — Small-cap U.S. stocks

Additional Basic Filters

• Price Range — Set minimum and maximum price thresholds for targeted screening
• Current Expirations — Multi-select dropdown for analyzing specific expiration dates
• Weekly Options — Filter for stocks offering weekly option expirations

Premium Filters

Premium Features Note: These advanced filters require an active subscription and are marked with golden gradients in the interface. Upgrade to premium to access these features.

Historical Expirations

Analyze past expiration data to understand historical GEX patterns and their impact on stock price movements.

• Backtest strategies using historical gamma exposure data
• Understand how GEX levels influenced past price action
• Identify recurring patterns around expiration dates

Price GEX Position

Advanced analysis of where the current stock price sits relative to significant GEX levels and the potential price behavior implications:

Near Significant Negative GEX (Resistance Level) — When price approaches negative GEX levels, dealers typically sell into rallies and buy into declines, chasing price movements. This can amplify volatility and create resistance-like behavior, especially when gamma is concentrated and significant.

Near Significant Positive GEX (Support Level) — When price approaches positive GEX levels, dealers typically buy dips and sell rips, dampening volatility. This creates support-like behavior and "pinning" effects, particularly strong near expiration with high open interest.

Between Significant Levels (Neutral Zone) — Price is in a zone where dealer hedging flows are minimal, allowing macro, fundamental, or large directional flows to dominate. This often results in higher realized volatility and larger price ranges.

Understanding Market Maker Behavior

• Positive GEX (Support Tendency): Dealers are long gamma and buy dips/sell rips, dampening volatility. Creates "pinning" effects, especially near expiration when open interest is large and time value is minimal.
• Negative GEX (Resistance Tendency): Dealers are short gamma and chase price movements - selling into rallies, buying into declines. This amplifies volatility and can create breakout scenarios.
• Low Absolute GEX: Minimal dealer hedging flow allows macro/fundamental flows to dominate, often resulting in larger price ranges and higher realized volatility.

Important Caveats

• Size & Concentration Matter: Effects are strongest when GEX is large and concentrated near current price. Diffuse gamma across many strikes weakens the impact.
• Time to Expiry: Far-dated gamma has minimal intraday impact. Near-dated options (especially on OPEX) show the strongest pinning effects.
• Competing Flows: Large directional flows from hedge funds, buybacks, ETF arbitrage, or macro events can overwhelm gamma hedging on any given day.
• Dynamic Nature: Dealer positioning can flip intraday as traders close positions. Other Greeks (vanna/charm) can dominate during volatility shocks.
• Probabilistic, Not Deterministic: Think of GEX levels as weather radar showing turbulence zones, not precise flight paths. They indicate probability, not certainty.

Total Gamma Filter

Filter stocks based on their overall gamma exposure:

• Positive Exposure — Net positive gamma, typically indicating market maker buying pressure
• Negative Exposure — Net negative gamma, typically indicating market maker selling pressure

Results & Analysis

Results Table

The results table displays filtered stocks with key information and actions:

Pagination Features

• Adjustable Page Size: Choose how many results to display per page (default: 10)
• Page Navigation: Easy navigation between result pages
• Total Count: See the total number of matches found
• Auto Reset: Returns to page 1 when new filters are applied

Interactive Charts

Gamma Exposure Chart

Interactive visualization showing gamma exposure levels across different strike prices.

Key Features:

• Identify support and resistance levels based on gamma concentration
• Understand price magnetism effects around high gamma strikes
• Visualize how gamma exposure changes across the option chain
• See current price position relative to gamma levels

TradingView Integration

Professional-grade charting with technical analysis capabilities.

Benefits:

• Correlate GEX levels with traditional technical indicators
• Analyze price patterns alongside gamma data
• Access to comprehensive drawing tools and indicators
• Real-time price data and market information

Authentication & Subscriptions

Access Tiers

Free Tier:

• Basic filtering capabilities
• Current expiration data
• Standard market cap and index filters
• Basic chart access

Premium Tier:

• All basic features
• Historical expiration analysis
• Advanced GEX positioning filters
• Total gamma exposure filtering

Automatic Redirects

• Login Required: Unauthenticated users are redirected to the login page
• Premium Features: Using premium filters without subscription redirects to pricing page
• Session Management: Automatic handling of authentication state

Best Practices

Effective Filtering Strategies

• Start Broad: Begin with basic filters and gradually narrow your search criteria
• Combine Filters: Use multiple filters together for more targeted and relevant results
• Monitor Liquidity: Focus on stocks with weekly options for better trading liquidity
• Match Strategy: Align market cap filters with your trading strategy and capital requirements

Analysis Workflow

1. Review GEX Charts: Always examine detailed gamma exposure visualizations
2. Compare Timeframes: Analyze both current and historical expiration data
3. Correlate Indicators: Use TradingView charts to confirm technical setups
4. Monitor Changes: Track how price position relative to GEX levels evolves

Risk Management

Important Risk Considerations:

• High gamma areas can lead to rapid and unexpected price movements
• Gamma exposure changes significantly as expiration approaches
• GEX data should complement, not replace, other analysis methods

• Diversify Analysis: Don't rely solely on GEX data for trading decisions
• Backtest Strategies: Use historical data to validate your approaches
• Monitor Time Decay: Consider how gamma exposure changes approaching expiration
• Position Sizing: Adjust position sizes based on gamma risk levels

Troubleshooting

Common Issues

No Results Found — If your filters return no results:

• Try broadening your filter criteria
• Check if premium filters require subscription
• Verify price range settings are reasonable
• Ensure selected expirations have available data

Charts Not Loading — If charts fail to display:

• Refresh the page and try again
• Check your internet connection
• Disable ad blockers that might interfere
• Try a different browser if issues persist

Premium Features Not Available — If premium filters are grayed out:

• Verify your subscription status
• Log out and log back in to refresh permissions
• Email help@gexscreener.com if the subscription should be active
• Consider upgrading to access premium features

Need Additional Help? If you're still experiencing issues or have questions not covered in this guide, email help@gexscreener.com. Also worth reading: Getting Started Guide