Etalon

This is the indicator from our videos.

The Options Positioning Suite puts the gamma flip, the options walls and the expected move on your own TradingView chart, for SPX, NDX, SPY, QQQ, ES, NQ, GLD and more. It updates at 9:32 ET, 12:30 ET and the close every trading day.

Why the flip matters: we tested every GEX reading we'd seen traders use, on 1,616 SPX and NDX sessions. Sessions that opened below the gamma flip moved about 1.6 times as much as sessions that opened above it. It won't tell you which way the market goes. It tells you what kind of day to expect before the open.

Try all five indicators free for 3 days, then $49 a month. Cancel anytime.

https://whop.com/etalon/options-positioning-suite/

Not investment advice.

What gamma exposure is actually good for?

I spent the last two days testing every GEX reading I've seen traders use, on 1,616 SPX and NDX sessions. Rules written down before the tests ran, and every level compared against a random line the same distance away — so "it worked" can't just mean "price came back to something."

WHAT HELD UP

Sessions that start below the gamma flip move about 1.6x more than sessions that start above it. In the morning that's 21.6 NQ points per five minutes against 15.2, and 225 points of range against 162. Shuffle the labels and you get 1.06x. It replicates in both halves of the 0DTE era, in both indices, and in all three parts of the day. That's the one reading I'd actually put on a chart.

The expected move is the honest version of "today's range." Closes land inside it 94% of the time against 75% for the gamma walls at the same average width.

Five-minute moves near the call wall run about 5% smaller than at a line the same distance away — 0.89x against 0.93x. That's a brake, not a ceiling. Price doesn't turn there.

WHAT WE DIDN'T FIND

Walls as support and resistance. Max pain. Pin strikes. Charm. Vanna. Crossing the flip intraday.

These are crude tests — one snapshot per window, five-minute bars, and an open-interest book that can't see same-day positions opened after the open. Something could be there that we didn't measure. We just didn't find it, and every one of them came back no better than a random line at the same distance.

Full paper attached. Every number in it comes out of the test output, and the tests that failed are in there too.