Three ways to estimate who holds what

The problem: exchanges do not publish dealer positions directly. So you need an assumption or a data source, and that is what separates the different versions of GEX.

And the sign ε in the formula changes everything: depending on whether you assume dealers are long or short at a strike, the same bar turns from a brake into an accelerator. Each source DeepGamma offers makes a different choice on this point, and you need to know which one before trusting a level.