Dealer positioning
The other side of the trade.
Every options trade has a dealer on the other side. The dealer map estimates how market makers re-hedge around current price, strike by strike — an estimate of hedging pressure, not a prediction or measured position.
Platform capability — in verification
This capability is active in the authenticated platform. Delayed-tier entitlement boundaries, claims evidence, and runtime telemetry are currently undergoing verification against FEATURE-REGISTRY.md. This specification page remains unindexed (noindex, follow).
The surface
What you're looking at.
Exposure by strike (GEX)
Estimated dealer gamma exposure drawn per strike under standard hedging assumptions, so concentration around a level is visible at a glance.
Calls and puts, split
The call side and the put side are drawn separately — a level that looks balanced in net can be crowded on both sides.
Indexes and single names
The map works on SPY and QQQ as well as single tickers, using the same recorded positioning data.
Discipline
How to read it step by step.
Find the heavy strikes
Long bars mark where dealer exposure concentrates. Those are the levels worth knowing about, whatever price does with them.
Read the sides
Green and red split the call and put sides, so you can see which way the book leans around a level.
Treat it as context
Estimated exposure describes how hedging obligations are modeled right now. Pair it with the tape before drawing a conclusion — and let the conclusion stay yours.
Flow Desk pairs the dealer map with Top Movers — positioning beside the names drawing the most premium.
See it live on today's session.
The dealer map lives on Flow Desk. Free accounts receive 15-minute-delayed flow and sample views; the full desk with real-time updates unlocks on a paid plan.