Absolute Peaks (A1/A2)
Absolute GEX peaks (price magnets). Highest total gamma creates pinning effect near expiration.
A1 and A2 are the absolute GEX peaks — the highest total gamma (calls + puts combined), regardless of sign.
- Creates strong pinning effect, especially on expiration day
- Price tends to gravitate toward A1/A2
- When A1/A2 aligns with Max Pain = very strong convergence
How to trade: Near expiration, expect price to be attracted to A1/A2. Use this as a target for mean-reversion trades.
See also: Max Pain, Positive Peaks (P1/P2)