Reference
Options Market Glossary
Plain-language definitions of the options market concepts behind gamma exposure trading. These are the building blocks the NeuraEdge GEX/SIG framework is built on — written to be useful whether or not you're a NeuraEdge user.
Gamma Exposure (GEX)
The aggregate gamma position of options dealers. The single number that explains why price behaves differently on different days.
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0DTE Options
Options expiring the same trading day. Their extreme gamma makes dealer hedging the dominant intraday force on SPY.
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Dealer Positioning
How options market makers hedge their inventory — and why that hedging leaves predictable footprints in price action.
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Gamma Wall
Strikes with concentrated dealer gamma that act as support or resistance. The "call wall" and "put wall" explained.
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Zero Gamma Level
The price where aggregate dealer gamma flips from positive to negative — the dividing line between dampened and amplified regimes.
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Max Pain
The strike at which the largest dollar amount of open interest expires worthless. Useful, widely misunderstood.
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VWAP
Volume-weighted average price. A reference level whose break means different things in different gamma regimes.
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Options Pinning
The tendency for price to gravitate toward high open-interest strikes as expiration approaches. A by-product of dealer hedging.
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Gamma Squeeze
A self-reinforcing move where rising price forces dealers to buy more underlying, accelerating the rally. How and when it happens.
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Why a glossary? Most options content is either too shallow ("gamma is the rate of change of delta") or too academic. This glossary lives in the middle — enough depth for an active options trader, no quant PhD required.
Every page sticks to publicly-known mechanics. It does not describe how NeuraEdge computes its internal signals, regime classifications, conviction scores, or settlement targets — those are proprietary. What you'll get here is a clean reference for the concepts themselves.
Built on the concepts above.
NeuraEdge GEX/SIG reads these market structures in real time across most tickers with a valid options chain, synthesizing them into a conviction-scored directional signal — with specialized coverage of 0DTE SPY.
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