The High Vol Level (HVL) is crucial in determining market momentum. It’s not just where gamma switches from positive to negative; it’s the point where the slope of the cumulative GEX curve changes, signaling shifts in market dynamics.
Above HVL, rising prices increase Net GEX, while below, they decrease it, impacting how market makers hedge their positions. This level acts as a momentum indicator, helping traders anticipate potential shifts in market sentiment and the corresponding impact on price movements
