Mastering the Interval Map: Visualizing Greeks Exposure in Real Time

The Interval Map is the first tool of its kind to offer a truly dynamic, time-based visualization of options exposure at the strike level. To access the tool, you will want to log in to https://v3.quantdata.us and navigate to the Exposure page under the Built-in Pages tab.

Unlike traditional options exposure tools that rely on static snapshots or table-based data, the Interval Map provides a continuously updating view of how exposure evolves throughout the trading day. This over-time perspective offers a unique edge in understanding how market positioning influences price action in real-time. At the time of writing, no other platform provides this level of intraday granularity across Gamma, Delta, Vanna, and Charm exposure.

The Interval Map is a dynamic bubble chart that shows where and when option exposure is building or unwinding. It highlights how dealer positioning may influence price movement and provides strike-specific activity over time, rather than just a single moment. This makes it an essential tool for identifying key levels of support and resistance, understanding shifts in volatility, and anticipating market responses to changes in dealer hedging. You can view exposure activity for any U.S. equity & Index symbol that trades options.

You can toggle between multiple exposure types to gain different perspectives on market positioning:

Each type provides insight into different facets of dealer risk and hedging behavior.

You can customize the time granularity to suit your analysis needs. Available intervals include:

This allows you to see how exposure changes on a micro or macro level throughout the day.

Using the session date selector, you can view historical data for up to 9 months. If you clear the session date selector, it will show data for the current date.

Choose between two modes:

These visual cues help you quickly identify where exposure is concentrated and in which direction.

The price of the underlying asset is plotted over time, allowing you to see how price reacts to or interacts with key exposure levels.

Hover over any bubble to reveal:

This interactivity helps you drill down into specific positioning details.

When the price approaches a strike with significant negative gamma exposure (indicated by large red bubbles), dealers who are short gamma may need to sell the underlying asset as the price rises to maintain their hedged positions. This selling pressure can lead to a sharp price rejection at that level. This setup often presents a clear intraday short opportunity, particularly if there is no absorption on the tape or if positioning fails to shift during the day.

When the price declines into a region with substantial positive gamma exposure (large green bubbles), dealers who are long gamma tend to buy the underlying asset as it falls, to maintain their hedged positions. This buying activity can provide support to the market, potentially leading to a price rebound. These zones can act as areas of compression or springboards for bounce trades, especially in trending markets.

A breakout above a strike with high negative gamma (large red bubbles) can create accelerated price movement. This happens because dealers may be short gamma and must hedge by buying into rising prices, exacerbating the move higher.

A price range bounded by strong positive gamma below and negative gamma above can lead to initial volatility compression, as dealer hedging activities stabilize price movements. However, if the price breaks through the negative gamma levels, dealers may need to adjust their hedges rapidly, leading to increased buying or selling pressure and a subsequent expansion in volatility. Traders can use this scenario to avoid chasing moves prematurely and instead consider fading the range edges until a decisive breakout occurs.

Sudden large bubbles that appear during the day can indicate fresh positioning. These often attract price and can create magnets for flow, especially if confirmed by flow metrics.

Each of these scenarios provides traders with distinct ways to apply the Interval Map in real time, helping to turn complex dealer behavior into actionable insights. Note that external factors can sometimes override these effects.

The Gamma Exposure (GEX) version of the Interval Map has quickly become the most popular setting among users. It offers a clear visual of how dealers may be positioned across strikes and helps traders pinpoint levels where volatility might compress or expand based on dealer flows.

On April 23, 2025, SPY opened above $540 with notable positive gamma stacked below, signaling potential dealer support and reduced volatility to the downside. The Interval Map highlighted this with heavy green positioning under the price, providing a clear framework: unless SPY broke below $540 with significant volume, a steady grind higher toward the gamma ceiling around $544–$545 was likely.

As SPY moved into that zone, the Interval Map revealed increasing negative gamma overhead, indicated by red clusters around $545. Price tested this level and immediately rejected, validating the GEX-defined resistance. This case highlights how real-time gamma structure can offer intraday edge, not just for entries, but for anticipating where momentum is likely to stall or reverse. This was an example of a live trade executed by one of our analysts.

The Interval Map gives traders a real-time window into how dealer positioning shifts throughout the day. It is the only tool that provides strike-by-strike exposure across time with dynamic visual clarity. Whether you're identifying potential support and resistance levels, spotting gamma squeezes, or tracking where dealers might amplify or suppress moves, the Interval Map provides an unparalleled edge.

It’s important to remember that trading decisions should not rely solely on a single tool or dataset. Many factors influence markets, and using a combination of resources can help make well-rounded decisions. This explanation is intended to provide insight, not financial advice. Always consider your own situation or consult a professional before making any investment decisions.

If you have any questions or need further assistance, please don’t hesitate to reach out to the Quant Data team at support@quantdata.us or via our live chat located in the bottom right-hand corner of your screen. We are available on our live chat between 9:30 AM and 5:00 PM (Eastern time), Monday through Friday.

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