Dealer GEX（做市商 Gamma 敞口）

中文解释

Dealer GEX 更聚焦做市商侧敞口，以及关键 strike 附近可能形成的对冲压力。对 0DTE 指数和 ETF 期权来说，这种结构会随着成交、OI 锚点和价格穿越密集价位而快速变化。Nightwatch 通过 Chart 叠加和 Pulse 水位展示 Dealer GEX，帮助交易者观察做市商定位可能最集中的区域。

English definition

Dealer GEX narrows the GEX lens to dealer-side exposure and the likely hedging pressure around key strikes. For 0DTE index and ETF options, this can change quickly during the session as trades arrive, open interest anchors update, and spot moves through dense strike areas. Nightwatch presents Dealer GEX through chart overlays and Pulse levels so traders can see where dealer positioning appears most concentrated.

在 Nightwatch 里怎么看

Dealer GEX Chart 盘中实时把做市商对冲最集中的价位用 Pulse 画在 K 线上：金色价位容易吸住价格，紫色价位一旦穿过容易加速。Split View 最多可以三个标的同屏对照。仅作市场结构参考，不构成买卖建议。

Dealer GEX Chart draws the levels where dealer hedging is most concentrated on the price chart as Pulse lines, updated intraday: gold levels tend to hold price, purple levels tend to accelerate it once crossed. Split View compares up to three tickers side by side. It is market-structure context, not financial advice.