About

Two flow gauges on one chart: DIX (share of volume reported short) and GEX (aggregate dealer gamma from the SPX options chain). Both come from public FINRA short-volume files and the listed options chain.

Instructions

Read DIX and GEX together. Treat high DIX with positive GEX as buying under a supported tape. Treat high DIX with negative GEX as buying into a tape where dealers amplify moves.

Signals

• POSITIVE DIX - 5-day short ratio elevated vs its window or above the mean band.
• NEUTRAL DIX - Ratio near the window mean band.
• NEGATIVE DIX - Ratio depressed vs window or below the mean band.
• POSITIVE GEX - 5-day net GEX above the mean band with positive gamma; dampening bias.
• NEUTRAL GEX - Net GEX near the mean band.
• NEGATIVE GEX - Below the mean band with negative gamma; amplification bias.