📐 Dealer GEX SPOTGAMMA-GRADE

GEX per contract = ±OI × 100 × spot² × γ × 0.01
+ for calls (dealers short gamma → buy on rise)  ·  - for puts
Units: dollars per 1% move in underlying
Total Dealer GEX = Σ across all strikes & expiries Iterate spot ∈ [−5%, +5%] in 0.25% steps · find where cumulative GEX crosses zero
Above flip = positive gamma = dealers stabilize tape (mean revert)
Below flip = negative gamma = dealers amplify moves (momentum/explosive) Vanna = ∂Δ/∂σ ≈ −d₂ × φ(d₁) / σ  ·  IV crush ⟹ delta change ⟹ hedging
Charm = ∂Δ/∂t  ·  time decay drives pinning toward max-pain at expiry Strike K minimizing: Σ max(0, S−K) × call_OI + max(0, K−S) × put_OI
Gravitational pull toward this strike at expiry IV_25-delta-put − IV_25-delta-call
Higher = expensive crash hedges = market stress +30 if total GEX < −0.05B (negative gamma)
+25 if P/C OI < 0.7 (call-heavy positioning)
+20 if 30d skew < 0.02 (flat = complacency)
+15 if 0DTE volume > 30% (speculation surge)
Score ≥ 50 ⟹ squeeze candidate