# Exposure Gradient

Dealer gamma, charm or vanna by price and time, from the session so far projected forward to the close.

**Exposure Gradient** colors the whole price-by-time plane by dealer exposure:
green where it is positive, red where it is negative. Left of the **NOW** line
is the session so far, with candles; right of it is the same book projected
forward to the close as time to expiry runs down. The yellow line is the
**zero-gamma flip** path. Switch between **Gamma**, **Charm** and **Vanna**
and between **0DTE**, **1DTE** and **All** in the toolbar. **Details** gives
the flip, the strongest pocket above and below price, and the exposure at spot
right now.

Marked **(Beta)** in the widget picker: it is newer, and some of the options
data behind it can lag the live market by several minutes.

## Practical application

![Exposure Gradient widget, illustrative example: at 2 PM, gamma pockets above and below price sharpen into the close](https://q-bitf.com/docs-img/exposure-gradient.png "Illustrative example data, not a real session. NQ same-day gamma at 2:00 PM: spot 27,111.40, +$4.86B at spot; flip 26,987.10; strongest pocket above 27,237.50 (+$11.17B), below 26,625.00 (-$6.52B).")

**Reading it.** It is 2:00 PM. NQ rallied into the green band around the
27,250 call wall at midday and is now fading, at **27,111.40**. Exposure at
spot is **+$4.86B**: long gamma. The flip (yellow) is at **26,987.10**, about
124 points below. Right of the NOW line, both pockets get brighter toward
the close: the green one centered near **27,237.50 (+$11.17B)** and the red one
near **26,625.00 (-$6.52B)**.

**What it means.** Same-day gamma concentrates as expiry approaches. Into the
close, the 27,200 to 27,300 area will slow price more and more, while a drop
through the flip would bring price toward a red pocket where hedging adds to
the move.

**How to use it.**

- **Price inside a brightening green pocket late in the day:** expect it to
  be held there; fade moves toward the pocket's edges.
- **Watch the flip into the close:** above it, ranges; below it, moves can
  speed up toward the red pocket.
- **Switch to Charm** to see how time decay alone will push hedging over the
  rest of the session.
- **All** adds later expiries, which change slowly; **0DTE** shows what
  matters for today's close.