Real-Time Gamma Exposure (GEX), GTBR & Risk Range Analytics for ES & Gold Options
Turn the CME options surface into live market-structure signals. See dealer gamma walls, breakeven ranges and volatility bands for S&P 500 (ES) and Gold (GC) futures options — updated in real time.
Free to explore the live chart. A free account unlocks live GEX levels, Risk Range bands and breakeven overlays.
See where dealers are pinned — live GEX & Gamma Walls
Net Gamma Exposure (GEX) turns the full CME options chain into a single map of dealer positioning. NeutralGravityQuant aggregates per-strike gamma across calls and puts, then plots the Gamma Wall, Put/Call Walls and G-Composite levels directly on a real-time chart. When net gamma is positive, dealers hedge against the move and price tends to pin; when it flips negative, that same hedging amplifies moves and ranges expand. Reading the regime live is the difference between fading a move and chasing it.
Know your breakeven — GTBR & Risk Range
The Gamma-Theta Breakeven Range (GTBR) answers the question every options seller has: how far does price have to move for gamma to pay for theta? NGQ computes it three ways — Standard, Rule-of-16, and the Vanna-Volga V-GTBR that accounts for the volatility surface. Alongside it, the Risk Range overlays DTE-scaled 1σ–5σ standard-deviation bands calibrated from live CME implied volatility, so you can read the expected move and where price sits in the distribution at a glance.
Built for Gold (GC) options, not just S&P
Most gamma tools stop at SPX. NGQ prices Gold (GC) options natively using the Bjerksund-Stensland (BS2002) American-option model, so GC traders get the same GEX, gamma walls, GTBR and Risk Range analytics as ES futures options. If you trade Gold around dealer positioning and key volatility levels, this is market structure you can't get anywhere else.
Free vs Premium
Live ES & Gold candle chart, streaming in real time — no account needed.
Everything in Guest, plus live GEX levels, Gamma Walls, Risk Range bands, GTBR / V-GTBR breakeven overlays and G-Composite levels.
Everything in Free, plus Future Copytrade, real-time alerts (gamma wall break, regime flip, SD-band breach), AI market-structure reports and API access — pull data into TradingView, cTrader, NinjaTrader and more via API key.
Who it's for
0DTE and intraday options traders, ES and GC futures traders, and anyone who trades around gamma walls, dealer positioning, expected-move levels and volatility regimes. If you already watch GEX and want it live on a chart — with Gold covered — NGQ is built for you.
Frequently asked questions
What is GEX (Gamma Exposure)?
Net Gamma Exposure aggregates dealer gamma across option strikes. Positive gamma means dealers dampen moves (mean-reverting, pinned); negative gamma means dealers amplify moves (explosive, trending).
What is a Gamma Wall?
The Gamma Wall is the strike with the largest opposing gamma. Price gravitates toward it under positive gamma and accelerates away under negative gamma.
What is GTBR (Gamma-Theta Breakeven Range)?
GTBR estimates how far price must travel for gamma-driven convexity to offset daily theta decay. It comes in Standard, Rule-of-16, and Vanna-Volga (V-GTBR) variants based on the CME option surface.
What is the Risk Range / Vol2Vol SD bands?
Risk Range plots DTE-scaled log-normal standard-deviation bands (1σ–5σ) calibrated from CME implied volatility, with per-category multi-series support via time-weighted variance interpolation.
Does NGQ cover Gold (GC) options or only S&P 500?
Both. NGQ prices Gold (GC) American options natively with the Bjerksund-Stensland (BS2002) model, so GC traders get the same GEX, gamma walls, GTBR and Risk Range analytics as ES (S&P 500) futures options.
What are G-Composite levels?
G-Composite levels highlight price levels where 0DTE and Weekly gamma concentrations intersect, marking zones of elevated dealer hedging activity.
Can I use NGQ data in TradingView, cTrader or NinjaTrader?
Yes — Premium includes API access. Fetch GEX, Risk Range and market-structure data into TradingView (web & app), cTrader, NinjaTrader and other platforms with an authenticated API key.
Educational only — not trading advice. Read the Analysis Guide for how to read every overlay.