Indicators · 2:43
Gamma Levels
Learn how to use Gamma Levels on the Nasdaq and S&P futures, right on your EliteXCharts chart, in under 3 minutes.
Chapters
Step by step
- Turn on Gamma Levels from the Gamma icon at the top of the chart — the first time, paste your GexBot API key
- See where options dealers' hedging pushes and pulls the market, right on your futures chart
- Get three levels built from today's 0DTE options (QQQ and NDX, SPY and SPX), refreshed every 20 seconds
- Read the Call Wall, often resistance above price, and the Put Wall, often support below it
- Track Zero Gamma: above it, dealer hedging tends to calm moves; below it, to amplify them
- Use the GEX bars by strike to see which levels carry weight, and the trail to spot when a wall shifts
- Watch a real NQ session break below Zero Gamma, bounce off the Put Wall and stall just under the Call Wall
- Adjust the option chains, the style (line or dots), the trail and the strike bars in the settings
What the narrator says
0:08Welcome to EliteXCharts. In this video, you'll learn how to use Gamma Levels on the Nasdaq and S&P futures.
0:15First, let's turn them on. Click the Gamma icon at the top of your chart. The first time, it asks for your GexBot API key. Paste your key and click Connect. The app checks it with GexBot right away, shows your plan, and the levels appear. The instrument is detected automatically, so there's nothing else to set up.
0:37Here's what they show. Every day, options dealers hedge their positions, and that hedging pushes and pulls the market around certain prices. Gamma Levels show you exactly where those prices are, right on your futures chart.
Read the full transcript
0:50You now have three levels, calculated from today's zero-day options on QQQ and NDX for the Nasdaq, and SPY and SPX for the S&P, refreshed every 20 seconds.
1:04The Call Wall is the strike with the largest call gamma. It usually sits above price and often works as resistance — a ceiling where rallies tend to slow down.
1:14The Put Wall is the strike with the largest put gamma. It usually sits below price and often works as support — a floor where selloffs tend to find buyers.
1:25Zero Gamma is where the market changes character. Above it, dealer hedging tends to calm moves down. Below it, hedging tends to amplify them, so price can move faster.
1:36On the right edge, the bars show how much gamma sits at each strike, so you can see which levels carry real weight.
1:43The levels move during the session. The trail behind each line shows where it was, minute by minute, so you always know when a wall has shifted.
1:52Let's watch a real session. Price breaks below Zero Gamma, and the selloff speeds up — until it reaches the Put Wall, where buyers step in and price bounces almost a hundred points. Later, the rally stalls just under the Call Wall.
2:09In the settings, you can choose the option chains, switch between line and dot styles, adjust the trail, and turn the strike bars on or off.
2:19Gamma Levels comes with EliteXCharts at no extra cost — all you need is your GexBot API key. It works on the Nasdaq and S&P futures: NQ, MNQ, ES and MES. Turn it on and see where the walls are today. Check the description for more EliteXCharts tutorials.