Anybody use Gamma exposure to trade

Hey everybody, starting a thread about market gamma. Does anyone use market gamma for trading levels, with volatility adjusted flows in and out of the indexes and delta neutral hedging this has become a big deal. I've been watching it for a few months now and it's very very compelling. Interested to see how other people are using it. It's offered free at a website called Tier 1 Alpha if anyone wants to reference it. I'm just learning how to use it but goodness it's been a revelation. Some pretty simple options strategies available around large call strikes in positive gamma. Any input would be helpful I will include a screenshot for today. Been trading a million years but this is relatively new to me.

My basic understanding thus far is Gamma pins the SPX spot price which crushes realized volatility. rVol is what triggers equity exposure rebalancing in almost all VaR, Vol controlled portfolios. When realized vol goes up, those funds sell off equity and rebalance to less risky assets. When rVol goes down it triggers those funds to add exposure and buy equities. So when gamma is positive it lowers realized volatility which triggers funds to buy more stocks and slowly pushes the market up with low volatility. It's the link between delta hedging, gamma, and portfolio rebalancing. It's quite literally the entire market mechanics. Obviously get equities right, you get EM right you get currencies right.

Happy trading.
David

Hi David,
now you did it. you looked over the edge and are probably wondering whether you should jump. I am saying this in jest, but the other side of the trade
(at least 85-90% dominated by algorithms) is down there. I do not trade options, stocks, forex, but stick mainly with the futures mkt mostly ES and occasional
NQ. I discovered a site, SpotGamma, several months ago similar to the one you mention above. How I use it is pretty limited, mainly looking at whether we are positive or neg. gamma, currently pivoting about 4550 on the ES, and look at large option blocks for attraction whether rising (lots of calls) or puts for a declining mkt.
What moves these things, probably anything and everything. Since these positions are "hedged" by the large players, a move up cause by whatever,
seems to be feeding itself for a further thrust higher (spikes we see almost daily) as the hedge has to unwind a bit and re-adjust at a slightly higher price
to be gamma-delta neutral. Same in a dropping mkt. These adjustments happen in microseconds by our algorithmic opponents.
It can get way too much to think about if you are scalping or even a swing trade mid day. Anyways, I'll check the gamma levels by strike early, see if it
is jiving with mkt activity before the open(and a couple days back) then close it all and only watch for price action. Set those stops based on your time frame and
personal comfort level of risk.
Have Fun,
regards,
goma

As far as I concerned, gamma exposure relates to professional trading and it explains really difficult things which will be unclear for novices, anyway, I once calculated total gamma exposure and can share this information. I calculated it for each strike by multiplying each option’s gamma, for all the calls and puts, by their respective Open Interest. After that we multiply them by 100 as the each option represents 100 shares. For the puts we multiply each by -1 as their gamma is negative. When we have them all calculated we add all the gamma with similar strikes together which would be the Total Gamma Exposure(GEX) for each strike.