GEX (MM), H-GEX and C/P OI (R): DeepCharts' gamma columns against the order book
The core idea: three questions about the same strike
One sentence for the whole course
To the right of the DeepCharts chart, three columns ask three different questions about the same strike. GEX (MM): how much gamma do market makers carry here? H-GEX: will their hedging brake or accelerate price when it gets there? C/P OI (R): how many call and put contracts are open at this strike? The DeepDom order book answers a fourth question: who is resting at this price, right now?
This course teaches you to read those four answers together on ES, and to take a trade only when they tell the same story.
The common thread: a real session
The whole course is built on December 2026 ES (ES-202612) on Tuesday, November 3, 2026, observed through two windows.
| Window | Paris time | What happens | Captures |
|---|---|---|---|
| The afternoon | 4:47 pm to 5:13 pm | The market rises from 7,604 to 7,616.75: the 7,610 wall breaks, then price compresses under the high | 1 to 8, Deepchart and DeepDom |
| The evening | 6:29 pm to 7:54 pm | The 7,599 pivot holds, the gamma profile rebuilds itself, three setups are graded | 9 to 14, Deepchart |
The fourteen captures are annotated: the numbers on each image refer to the legend placed below it. Every capture comes in an English edition, labels and legends translated.
| Capture | Time | What it shows | Module |
|---|---|---|---|
| 1 | 4:47 pm | Deepchart ES: the gamma map | 4 |
| 2 | 4:47:06 pm | DeepDom: who is waiting where | 4 |
| 3 | 4:48 pm | SPX → ES on 1 minute: the session's regime | 3 |
| 4 | 4:48:07 pm | DeepDom: one minute that shifts the balance of power | 4 |
| 5 | 5:07 pm | Three Deepchart windows: the 7,610 break | 4 |
| 6 | 5:07:21 pm | DeepDom: a new wall, a market accepting higher prices | 4 |
| 7 | 5:13 pm | SPX → ES: a gamma hole under price | 4 |
| 8 | 5:13:09 pm | DeepDom: compression under the high | 4 |
| 9 | 6:29 pm | The three columns, guided tour | 2 |
| 10 | 7:17 pm | The other gamma tools on screen | 3 |
| 11 | 7:54 pm | The profile has rebuilt itself | 5 |
| 12 to 14 | 6:46 pm to 7:48 pm | Two AAA setups and one AA counter-example | 5 |
The path
- Module 1, the setting: the notions, the mechanics of hedging, why the profile moves.
- Module 2, the three columns one by one, then their combined reading as six strike profiles.
- Module 3, the tools around them: GEX heatmap, Exhaustion Detector, MM Pressure, Rolling values, Gamma Envelopes, and the day's regime.
- Module 4, the afternoon: options and order book read together, capture by capture.
- Module 5, the evening: the profile rebuilding itself, the AAA setup grid and three reconstructed trades.
- Module 6: traps, checklist, glossary and sources.
Conventions
- Prices in ES points, ES-202612 contract. One point is worth 4 ticks and $50 ($5 on MES).
- Times in Paris time. On November 3, 2026, the United States has been on winter time since Sunday, November 1: 2:30 pm in Paris is 8:30 am in New York (macro data), the cash market opens at 3:30 pm, closes at 10:00 pm, and 0DTE options expire at 10:00 pm.
- GEX in millions of dollars ($M) or billions ($B), open interest in thousands of contracts (K).
- SPX strikes are 5 points apart. Projected onto ES, depending on settings they land on the round number (7,600) or about one point below it (7,599): it is the same strike. Read every level as a zone of ±1 point.
If options are new to you, the Options flow and GEX course lays out the mechanism and the Reading gamma on ES with DeepGamma course applies it to the DeepGamma screen. This one goes further into the profile columns and crosses them with the order book.
Reminder: educational content, not investment advice. Futures and options are leveraged products. The session readings are made with hindsight, on captures: they illustrate a method, not a guarantee.
End of the free lesson
The other 24 lessons of this course, its quizzes and the completion certificate open with the Student role.
It's free: join the Discord, click the Student role, then log in with Discord here to access all courses.
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