Check the scope. Then follow the wall.
Annotated saved NVDA session · October 22, 2026. On a narrow screen, scroll the chart sideways to inspect it.
- 1Confirm the selected expiration.
October 23 drives the headline −$46.63M net GEX. Negative gamma here means a negative modeled total; it is not a bearish price prediction.
- 2Locate the concentrations.
The positive GEX and call walls share $220. The negative GEX and put walls share $210. They are separate measures that happen to align here.
- 3Compare dates consistently.
Each heatmap column represents its own expiration. Follow a strike across columns and use the shared color scale to compare sign and size.
Historical provider-data caveat: this saved options book uses $212.86 while the chart closes at $212.21. The worked example documents the end-of-day reference issue affecting IV and Greeks; these figures illustrate how to read the display and are not independently verified synchronized closing inputs.
The read: Use $210 and $220 as references to investigate alongside price. Neither a wall nor the regime proves a future bounce, direction or actual dealer inventory.
Educational historical example. The original screenshot and values are unchanged; numbered annotations identify what the lesson discusses.