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Understanding how to interpret and trade the GEX Levels 1 to 10 can significantly enhance your ability to identify key reaction zones in the market. This lesson focuses on our secondary gamma levels and how they complement the core gamma levels you’ve already learned about.
Beyond the core gamma levels—core resistance, put support, IVO level, and one day max/min—we have our GEX levels. These levels are derived from our net gamma exposure chart, which displays the widest green and red bars showing the most significant concentration of call and put gamma across the option chain. The numbering system is straightforward: GEX 1 is the second level after core resistance and put support with the highest gamma exposure, followed by GEX 2 all the way to GEX 10. This means GEX 1 has higher gamma exposure than GEX 2, which has more than GEX 10, helping you understand the relative importance of each level.
GEX 1 and GEX 2 are typically very strong levels, while levels like GEX 8, 9, and 10 represent smaller concentrations. These become strong reaction areas that price tends to interact with repeatedly. In practice, you can observe price moving from one level to another—for example, from GEX 1 to IVO level, back to GEX 1, targeting all these levels along the way.
Traders use these levels in different ways depending on their strategy. Many users are scalping these levels for quick trades, while others use them as take profit targets for longer positions. The key advantage is that these are not just standard support and resistance—they are structural levels coming from the option market, providing institutional-grade insights into where significant gamma positioning exists.
To clarify a common question: GEX 1 is not equal to put support or core resistance. Put support and core resistance represent the levels with the absolute highest green or red bars on the net gamma exposure chart, while GEX 1 is the second highest level, whether positive or negative gamma.
Video Chapters
00:16 – Introduction to GEX Levels 1 to 10
00:55 – Understanding the GEX numbering system
01:33 – How to trade GEX levels as reaction areas
01:54 – Scalping and take profit strategies
02:16 – Clarifying GEX 1 versus core levels
Key Takeaways
GEX levels are derived from the widest bars on the net gamma exposure chart, showing concentrations of call and put gamma
GEX 1 has the highest gamma exposure after core resistance and put support, with decreasing exposure through GEX 10
These structural levels from the option market serve as strong reaction areas for scalping and take profit targets
GEX 1 is the second highest gamma level, distinct from put support and core resistance which represent the absolute highest levels
Video Transcription
[00:00:16.05] - Speaker 1 And then next, before we go into some example, we're going to talk about our secondary level which is the JAX level 1 to 10. So beyond the core gamma levels, which is of course what we mentioned, core resistance put support ivo level and one day max, one day min, we have our JAX levels. These levels are derived from our net gamma exposure chart which you see here on the right. They are the widest green and red bars and they basically show us the most significant concentration of call and put gamma across the option chain.
[00:00:55.24] - Speaker 1 So a lot of questions come like what does Jax 1 mean? What does Jax 10? So Jax 1 is the second level after our core resistance and put support with the highest gamma exposure. Then we have Jax 2 all the way to Jack Stand. So Jax 1 has a higher gamma exposure than Jax 2 then Jax 10.
[00:01:16.22] - Speaker 1 So you can use that also to understand the relevance. So Jax 1 is typically a very, very strong level, also Jax 2. But then of course you also have smaller level like Jax 8, 9, 10, etc.
[00:01:33.17] - Speaker 1 How can you play these areas? Again those become strong reaction areas. So what you can see here is we are playing around levels. So we are basically going from Jackson to hvl back to Jackson and then we are targeting all these levels. So again, based on the type of strategy that you have, you might want to use those level in different ways.
[00:01:54.07] - Speaker 1 So we have a lot of users who are scalping those levels. We have a lot of users are using those as take profit targets. So again, this is a lot of things that you can do. And these are not just support and resistance. Again they are structural levels coming from the option market.
[00:02:16.24] - Speaker 1 So we have a question if J1 is equal to put support or core resistance. No. The answer is no. So basically Jax1 would be the second level with the highest gamma after put support and core resistance. So if we look at our net gamma exposure chart, put support and core resistance would be the levels with the highest green or red bar and then jax1 would be then the second highest level.
[00:02:47.10] - Speaker 1 Whether it's a positive or negative. I hope that makes sense.
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