GEX (MM): where market makers carry gamma

GEX (MM) shows, for each strike, the net gamma exposure that market makers actually hold, as reported by the CBOE. DeepCharts presents it like a volume profile, with one difference: instead of traded contracts, it shows where MM hedging is concentrated. Other platforms call this view the "convexity ladder". It is the column that says how much: the size of the hedging flow that price passing through the strike can trigger. It does not tell the whole story, but without it the other two columns carry no weight.