Exposure Tape Blog
How to Use Expo: Build a Dealer Positioning Map
A practical workflow for moving from a ticker and expiration set to a usable map of positioning, levels, and context in Expo.
What Is Expo? The Positioning Map Beneath Price
Expo turns the selected options book into a map of dealer positioning, levels, and expiration context—not a prediction of where price must go.
Gamma Exposure (GEX): Why the Market Pins Some Days and Rips Others
A plain-language breakdown of how to read gamma exposure levels and why they act as invisible magnets for price.
Delta Exposure (DEX): Which Way the Tape Leans
Net dealer delta sets the path of least resistance for spot. Here is how to read which way the tape leans before it moves.
Charm Exposure (CHEX): The Hidden End-of-Day Pin
Charm is the slow bleed of delta as time runs out. Aggregate it into CHEX and you get the quiet force that pins price into the close.
Vanna Exposure (VEX): When Volatility Moves the Tape
Vanna links spot and vol. Aggregate it into VEX and you see how a shift in implied vol forces dealers to re-hedge spot.