Absolute GEX
Total gamma magnitude regardless of direction. Measures dealer hedging activity and liquidity depth.
Absolute GEX = |Call GEX| + |Put GEX| — the total magnitude of dealer gamma exposure across all strikes, regardless of whether it stabilizes or amplifies moves.
Unlike Net GEX (which reveals direction — Sticky vs Jumpy regime), Absolute GEX measures how much dealer hedging is happening. Think of it as liquidity depth for the gamma layer:
- High Absolute GEX — dealers are heavily positioned. Even small spot moves trigger large hedging flows. Price action is dense with reactive volume.
- Low Absolute GEX — sparse positioning. Less mechanical hedging cushion; price can drift more freely without dealer interference.
The Dealer Pulse rail shows the 24-hour line of Absolute GEX so you can see whether positioning is building (more activity around current strikes) or thinning out (e.g. after expiration when contracts roll off).
How to use it: pair Absolute GEX with Net GEX. High abs + positive net = strong Sticky regime; high abs + negative net = strong Jumpy regime; low abs = either regime is weak and spot can break through more easily.
See also: GEX (Gamma Exposure), Dealer Hedging, Absolute Peaks (A1/A2), GEX ABS (Absolute)