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Overview — IWM
Spot
299.96
IV ATM Short 14d
15.0%
2026-09-04
IV ATM Mid 35d
15.9%
2026-09-25
IV ATM Long 56d
16.3%
2026-10-16
PCR OI Long
3.08
Put-heavy
Three-timeframe pin structure
Short
2026-09-04 · 14d
295.00
Put pin
290.00 ★
Put pin
300.00 ★
Put pin
305.00
Call pin
313.00
Call pin
302.00
Max pain
301.00
GEX flip
Mid
2026-09-25 · 35d
285.00 ★
Put pin
275.00
Put pin
290.00 ★
Put pin
299.00
Call pin
322.00
Call pin
299.00
Max pain
294.00
GEX flip
Long
2026-10-16 · 56d
285.00 ★
Put pin
280.00
Put pin
300.00 ★
Put pin
290.00 ★
Call pin
310.00
Call pin
300.00
Max pain
300.00
GEX flip
Confluence analysis — cross-timeframe strike clusters
Strike
S
M
L
Signal
299.75
-0.1%
Put floor
290.00
-3.3%
Put floor
285.00
-5%
-
Put floor
295.00
-1.7%
-
-
Weak floor
305.00
+1.7%
-
-
Weak ceiling
313.00
+4.3%
-
-
Weak ceiling
303.00
+1%
-
-
Weak ceiling
275.00
-8.3%
-
-
Weak floor
Structural Zone Identified
3/3 timeframes
The scanner identifies a structural put support zone between $285.00–$290.00, confirmed across all three timeframes (short, mid, and long) - approximately 3.3% below current spot. A call pin ceiling at $303.00 (+1% above spot) caps upside, creating a defined structural range.
Pattern recognition only — not a trade recommendation.
Pin chart — Short / Mid / Long
How to read this dashboard
💡 What is GEX - and why does price pin at certain strikes?
▶
1
Market makers are always on the other side. When you buy a put, a market maker sells it. To hedge their risk, they must sell shares of the underlying - proportional to the put's delta. This is called delta hedging.
2
Gamma is the acceleration of delta. The closer price gets to a heavily positioned strike, the more the market maker must adjust their hedge. When price falls toward a put-heavy strike, they buy - creating upward pressure that pushes price back. That is the pin effect.
3
Positive GEX means market makers buy dips. Above the GEX flip level, market makers dampen price moves - the market stabilizes. Below the flip, they amplify moves - volatility tends to increase. The GEX flip strike is the boundary between these two regimes.
Example SPY: GEX flip at 746 (Mid timeframe). As long as SPY trades above 746, market maker hedging dampens volatility. If SPY drops below 746, moves can accelerate - a regime shift worth monitoring daily.
📍 The symbols explained - Put Pin, Call Pin, Max Pain, GEX Flip
▶
Put Pin
High put open interest at this strike. Market makers buy shares as price approaches - natural price floor. The larger the OI, the stronger the magnetic effect going into expiry.
Call Pin
High call open interest above spot. Market makers sell shares as price rises - natural resistance ceiling. Important for covered call strike selection on the wheel.
GEX Flip
The strike where aggregate gamma exposure changes sign. Above this level the market is self-stabilizing. Below it, moves can accelerate. Never ignore this level when sizing a position.
Max Pain
The strike where total options buyers (calls + puts combined) would lose the most at expiry. Price tends to gravitate toward this level into expiry - more reliably in quiet markets with low external news flow.
📄 Step by step - how to read this dashboard correctly
▶
1
Start with the Confluence table. Strikes marked 2/3 or 3/3 appear across multiple timeframes - that is institutional positioning, not coincidence. These are your structurally significant levels for the coming weeks.
2
Check the GEX flip in the Mid timeframe (30–50d). This is your current market regime indicator. Spot above flip = stable, dampened environment. Spot below flip = caution, moves can accelerate in either direction.
3
Identify the nearest Put Floor below spot. This is your potential short put strike. Prefer strikes that appear in at least 2 of 3 timeframes - that is structural support, not temporary positioning.
4
Identify the Call Ceiling above spot. A strong call pin between spot and your target is resistance - but also protection for a covered call strategy. When floor and ceiling are both visible, price is structurally range-bound.
5
Combine with your HMA38 trend. GEX alone is not a trade signal. It shows where the market has structural support. Only when trend direction and GEX floor align do you have a high-quality candidate for a short put or wheel entry.
⚠️ When signals are weak - and what to do
▶
!
Only 1/3 confluence. A pin that appears only in the short timeframe is often temporary positioning ahead of an event - not a structural floor. Do not use it as a wheel strike without additional confirmation.
!
Short timeframe missing GEX flip data. In the 14–30d window, the flip is often absent - insufficient OI for a reliable calculation. Always complement the short view with mid and long timeframe data before acting.
!
Spot near the GEX flip level. This is the most dangerous zone. Small moves can flip the regime and reverse hedging flows. Use smaller position size or wider stops when spot is within 1–2% of the flip strike.
!
IBIT-specific note. Bitcoin ETF structures can shift rapidly due to the underlying's volatility. GEX levels that hold for days on SPY or QQQ may be relevant for only hours on IBIT. Always treat IBIT signals as shorter-lived than the timeframe suggests.
GEX is not a price target. It shows zones where market makers are structurally active - not where price must go. A floor can break when momentum is strong enough or an external event occurs. Always combine with position sizing and defined risk management. This page is market structure information, not a trade recommendation.
Important Disclaimer: This page is for informational purposes only and does not constitute financial or investment advice. GEX data reflects algorithmic calculations based on options open interest and gamma exposure. Market structure can shift rapidly. Always conduct your own due diligence and consult a qualified financial advisor before making any investment decisions.