gex levels service
A levels service is only as good as three things you can check: what exactly arrives, how it was computed, and whether the misses are published. Here is the exact list for this one. The levels are computed from the live option chain about every 60 seconds and delivered three ways: drawn on the terminal's chart, drawn inside six other charting platforms by a bridge study, and as a REST feed. Today's ES and NQ walls are also published free at 08:30 ET and graded against the real session at 4:15 pm ET, misses included.
The problem
Same-day expirations are the majority of SPX option volume, and they rebuild the gamma surface through the session. A number computed once before the open describes a market that no longer exists by lunch. A service has to recompute while the session is running.
Which chain, which expirations, open interest or volume, what is assumed about dealer positioning, how often it recomputes, and how it is delivered. Six choices, and each one moves the wall. A provider that does not publish its answers is asking you to trust a number you cannot reproduce.
A wall that held is screenshotted; a wall that broke is forgotten. Without a record that keeps the misses you cannot tell a good method from a good week.
What Sharpnel does
Nine level types: call wall, put wall, gamma flip, max pain, expected move, high-gamma zones, vanna, charm and the 0DTE share, on ES, NQ, SPX and the other names the chain covers, plus the gamma-by-strike profile with its prior windows. Recomputed about every 60 seconds from live implied volatility and rescaled to the live futures price.
Drawn on the terminal's own chart next to the DOM ladder and the footprint; drawn inside Sierra Chart, NinjaTrader 8, Quantower, ATAS, MotiveWave or Bookmap by a bridge study with one API key from your account; or, for a developer, the Quant API: REST access to the computed feed with per-strike gamma ladders, 365 days of history and positioning statistics.
The methodology page says which expirations are aggregated, how each contract's gamma is computed, how the strikes are rescaled to the futures, and what happens when data is missing. For ES and NQ the aggregation takes the nearest ten index expirations within 60 days; monthly-heavy books take the nearest fourteen.
Each morning's ES and NQ call wall and put wall are frozen at 08:30 ET, published free, and graded against the real high and low at 4:15 pm ET. The record is one page, month by month, with the hit rate and every miss, and the levels are never edited after they are posted.
| The job | A typical levels subscription | Sharpnel |
|---|---|---|
| When the levels are computed | Once, before the open | About every 60 seconds through the session |
| The method | Proprietary | Published: expiries, gamma model, futures scaling, missing-data rules |
| Delivery | A dashboard, a PDF, an email | On the chart, in six other platforms, or as a REST feed |
| The record | Rarely, never the misses | Every ES and NQ wall since July, graded at 4:15 pm ET, misses included |
Levels state what the data shows. Nothing here is a prediction or advice; a wall that held three times is exactly the one that can break on the fourth.
ES and NQ as captured at 08:30 ET, every trading day, and after the close whether they held. Free, one mail a day, unsubscribe anytime.
Pharos · September 9, 2026 · NQ · 09:58 ET
“Wednesday's receipt. The call wall on NQ was 29568. Price reached it at 9:58 a.m. Eastern, returned at 10:44 a.m. Eastern, and this time it gave way. The session high was 29633.75.”
The close read, from the gamma engine
This is a real end-of-session read from my own OI-derived gamma engine — where the walls sat when the bell went, published once a day and never retouched. What it can't show you is the session itself: in the terminal these levels rebuild about every minute on your own chart, next to the DOM, the footprint and the tape, with the zero-gamma line and the full strike profile. The walls move all day. This page shows you where they ended up; Pro shows you while it's happening.
OI-derived dealer-gamma estimate · published once after the close here, rebuilt ~60s in the terminal · informational, not advice
$125/mo — or $94/mo billed annually
What you are reading here is free and stays free. Pro is the live one: these walls and the full strike profile rebuilt about every minute while the session runs, on the same chart as the DOM, the footprint and the tape — and drawn inside your own charting software too.
