Nightwatch Glossary

Dealer GEX

Dealer GEX focuses on dealer-side exposure and how hedging pressure can concentrate around key strikes.

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.

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。

How Nightwatch uses this term

Nightwatch uses Dealer GEX as one market-structure input alongside price, implied volatility, options flow, and dealer-positioning context. It should be read as analytical context, not financial advice.