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Expirations

Choose the expiration you want to examine in GEX Live Table or GEX Live Chart. Then choose whether the analytics should cover that expiration alone or combine eligible expirations through that date.

The selector sits above both views. Open GEX Live and select an expiration card; its blue outline identifies the active date.

  1. 01Calendar & DTE
    Choose the date. Read its calendar label, days to expiration (DTE), and role flag.
  2. 02∑ vs. ⊙
    Set the scope. Cumulative combines expirations through that date; Standalone isolates one.
  3. 03Key Only
    Adjust the strip. Use Key Only to keep the key dates visible without changing the math.

Read an expiration card

WebAppFull expiration stripKey Only is off. The strip includes dates without a role label, such as October 26 and October 27. ALL sits at the far right.Scroll horizontally to read the strip; select the image to enlarge it.
Date and DTE
The date identifies the option expiration. DTE is the number of days remaining; it is separate from the chart’s candle interval.
Role label
A label such as 0, W1, or M1 identifies a key role in the available chain. Unflagged cards are still selectable.
Profile badge
The circular mark summarizes the gamma-profile state for that card’s scope. Its color and symbol describe the profile’s regime.
Net GEX
The small bars and number below the badge summarize net gamma exposure. Green values are positive; red values are negative. The active aggregation mode determines which expirations contribute.

Choose Cumulative or Standalone

The controls on the left set the aggregation mode for the strip and the selected detail view.

Default mode

Cumulative

For a later selected date, combine the available expirations after today through that date, including the selected expiration.

Selecting Friday on a Monday combines Tuesday through Friday, where those expirations are listed.

One expiration

Standalone

Use only the selected expiration. Other expirations do not contribute to its exposure or derived levels.

Selecting Friday shows Friday’s chain alone, even when earlier dates are available.

Selecting today is the exception.

Today’s expiration is excluded from a later cumulative sum. If you select today itself, both Cumulative and Standalone cover today only.

The combined exposure is calculated before its levels are identified. Cumulative does not add together the prices of separate call walls or HVLs. See Standalone and cumulative for the aggregation example.

Show key dates with Key Only

Enable Key Only to hide cards without a key role. Disable it to browse all available dates. The two screenshots show the same selected date and aggregation mode, with different visibility settings.

WebAppKey expirations onlyThe blue switch is on. Unflagged dates are hidden, leaving a shorter strip. The selected October 21 card still shows 0 DTE and the role 0.Scroll horizontally to read the strip; select the image to enlarge it.
Visibility and aggregation are separate.

Key Only does not remove hidden expirations from a cumulative calculation. To change which expirations contribute, use Cumulative or Standalone.

RoleWhat it identifies
0The nearest available expiration. It is 0DTE only when its displayed date is today.
1The second available expiration, which is not necessarily tomorrow.
W1–W4The key weekly expiration roles. Check each card’s actual date and DTE.
M1–M3The next three standard monthly expiration roles.
ALLThe furthest available expiration. In Cumulative, it covers eligible expirations through that date; in Standalone, it covers only that final expiration.

One date can hold more than one role. Read the date and DTE as well as the label: the ALL card in this example is 1,885 DTE, so its December label is years beyond the October dates at the start of the strip. For interpretation by time horizon, see Expiry selection.

Distinguish the badge from the exposure value

Profile state

The circular badge describes the structural regime, based on price relative to the profile’s levels.

+231.9MNet GEX sign

The number describes the balance of modeled call-side and put-side gamma exposure in that scope.

In the Key Only screenshot, the December 31 card has a red minus badge while its Net GEX value is green at 231.9M. These are different measurements, so their colors can differ.

For the badge definitions, see GEX states. To understand the exposure calculation, see Gamma exposure.

  • Star. Highlights the expiration with the largest standalone Net GEX. The screenshot’s star appears on December 31 even though Cumulative is selected; its reference is still the standalone comparison.
  • Earnings highlight. A purple pulse identifies the associated earnings session. Before-market-open (BMO) earnings mark that session; after-market-close (AMC) earnings mark the following session. Check the actual announcement timing when choosing an expiration.

Navigate and refresh

  • Browse dates. Scroll horizontally across the strip. A mouse wheel also moves the strip while the pointer is over it.
  • Refresh. Use the circular-arrow control to request an update. Manual refresh has a 10-second cooldown.
  • Automatic updates. WebApp options analytics refresh about once a minute from 6:40 AM to 4:00 PM ET on weekdays.
  • Compact view. Click the aggregation icon to switch between Cumulative and Standalone when the separate mode controls are collapsed.

Continue with GEX Live Table or GEX Live Chart to inspect the selected profile. Use GEX Matrix to compare expirations side by side.

TanukiTrade documentation. Levels are context, not a recommendation. tanukitrade.com