GammaBabaOPTIONS DATA ANALYTICS
Docs

๐Ÿ”ข Options Data โ€” Column Reference

Accessing the Options Data Tab

In the GEX Heatmap app, click the ๐Ÿ“Š Options Data tab to switch to the full raw options chain view. This table shows every individual contract for the currently loaded ticker โ€” not aggregated like the heatmap, but contract-by-contract detail.

๐Ÿ’ก The Options Data tab is useful for drilling into specific strikes when you want to see which contracts are driving a heatmap cell's color intensity.

Table Features

  • Sortable columns โ€” Click any column header to sort. Sort by OI to find the most popular strikes, by gamma to find the highest hedging impact, or by volume to spot active contracts.
  • Type filter โ€” Toggle between All, Calls only, or Puts only.
  • Pagination โ€” Large option chains are paginated at 50 rows per page for performance.
  • Color coding โ€” Change and Change% values are highlighted green (positive) or red (negative).

Column Definitions

Every column in the options data table:

Strike
The strike price of the options contract. This is the price at which the holder can buy (call) or sell (put) the underlying stock.
Expiry
The expiration date of the contract. Near-term expirations have higher gamma impact. Format: YYYY-MM-DD.
Type
Either "C" (Call) or "P" (Put). Calls give the right to buy; puts give the right to sell.
OI (Open Interest)
The total number of outstanding contracts at this strike/expiry. Higher OI = more dealer hedging activity at this level. This is the primary driver of GEX magnitude.
Volume (Vol)
Number of contracts traded during the current session. High volume relative to OI can indicate new positioning being established.
Last
The last traded price of this options contract.
Change (Chg)
Absolute price change since the previous close.
Change % (Chg%)
Percentage price change since the previous close.
Open
The opening price of the contract for the current trading session.
High
The highest price the contract reached during the current session.
Low
The lowest price the contract reached during the current session.
VWAP
Volume-Weighted Average Price โ€” a more accurate representation of the true trading price than a simple average.
IV (Implied Volatility)
The market's expectation of future price movement, expressed as a percentage. Higher IV = more expensive options = market expects bigger moves.
Delta (ฮ”)
How much the option price changes per $1 move in the underlying. Calls: 0 to 1, Puts: -1 to 0. Also a rough estimate of the probability of expiring ITM.
Gamma (ฮ“)
How fast delta changes per $1 move. This is the core of GEX. High gamma at a strike means dealers must hedge aggressively when price approaches.
Theta (ฮ˜)
Time decay โ€” how much value the option loses per day. Always negative for long positions. Near-expiry ATM options have the highest theta.
Vega (V)
How much the option price changes per 1% change in implied volatility. Higher vega = more sensitive to volatility shifts.
Premium
Notional value of open positions: Last Price ร— OI ร— 100 (contract multiplier). Displayed in K/M format.
GEX
Gamma Exposure contribution: ฮ“ ร— OI ร— 100 ร— Spot Price. Calls contribute positive GEX (blue), puts contribute negative GEX (green). This is what the heatmap cells visualize.
Last Updated
Timestamp of the most recent data snapshot for this contract.

Greeks Modes in Raw Data

The greeks columns (ฮ”, ฮ“, ฮ˜, V) depend on which greeks mode you selected:

  • ๐Ÿ“ก API modeโ€” Only shows contracts where the market data API provides greeks. Some contracts will have "โ€”" for greek values.
  • ๐Ÿงฎ BS (Black-Scholes) mode โ€” Estimates greeks for all contracts. Provides more complete coverage. Estimated contracts are marked with a ๐Ÿงฎ indicator.
๐Ÿ’ก We recommend BS mode for the most complete picture. API mode is useful when you only want exchange-reported greeks.

How GEX is Calculated Per Contract

Each row's GEX value is the gamma exposure contribution:

GEX = Gamma ร— OI ร— 100 ร— Spot Price
  • Call contracts โ†’ Positive GEX (dealers are long gamma)
  • Put contracts โ†’ Negative GEX (sign is flipped)

The heatmap cell at a given strike/expiry is the sum of all individual contract GEX values at that strike and expiration.

๐Ÿ”‘ Key Takeaways
  • The Options Data tab shows individual contracts โ€” the heatmap shows aggregated GEX per cell
  • Sort by OI to find the most popular strikes, by Gamma for highest hedging impact
  • High volume relative to OI can indicate new positions being opened
  • GEX per contract = ฮ“ ร— OI ร— 100 ร— Spot Price (calls +, puts โˆ’)
  • Use BS mode for complete gamma coverage, API mode for exchange-reported greeks only
  • The Premium column shows total notional value of open positions at each strike
โ† CompareWatchlist โ†’