CrossVol Research · Pubblicato 2026-05-24
A four-lens framework for options traders who see what standard GEX misses.
Standard Gamma Exposure aggregates dealer hedging needs as a single signed scalar. That collapses too much. The book introduces four orthogonal lenses, each capturing a distinct dimension of dealer positioning that standard GEX flattens: liquidity-adjusted gamma, vanna-charm decomposition, term-structure inhomogeneity, and pin-risk geometry. Each lens is explained from desk practice, then applied to historical regime changes from 2018 through 2026.
Lettori a cui è rivolto. For options traders, market-makers, and structured products desks that already use GEX and have hit its limits.