Step-by-Step GEX Reading

One-line positioning

A GEX chart isn't "read" — it's "asked" in order. This chapter gives you a 5-step SOP and the HermesGEX component for each step.

After reading, you'll be able to take any GEX chart and say in 60 seconds: "Today's universe, its strength, key levels to defend."

The 5-step SOP at a glance

1. Choose timeframe → 2. Judge regime → 3. Find primary walls → 4. Add weighting → 5. Find confluence

Each step has exactly one HermesGEX component that gives the answer. Let's unpack.

Step 1: Choose timeframe

This isn't a trivial setting. It decides which expiry of GEX is actually useful, and which is noise.

Selection cheatsheet

Veteran mantra

Where in HermesGEX

Step 2: Judge volatility regime

Timeframe set. Not looking for direction. Not looking for entry.

Next question: what type of environment am I in?

That's where HVL takes the stage.

Three things about HVL

Veteran mantras

Where in HermesGEX

Step 3: Find primary walls

Regime set. Next, mark the most important Levels.

Read these five Levels minimum per chart

Spatial relationship

        ↑ Higher = more positive gamma
─────  C2-C6   (secondary Call Walls, optional)
─────  C1      ★★★ Strongest Call Wall
═════  cT      Call transition edge
══════ HVL    Regime boundary (most critical)
═════  pT      Put transition edge
─────  P1      ★★★ Strongest Put Wall
─────  P2-P6   (secondary Put Walls, optional)
        ↓ Lower = more negative gamma

Veteran mantras

Where in HermesGEX

Step 4: Add weighting (positioning + flow)

Now you can read the big picture. Next, weight each Level.

Not all Levels are equal. Two extra info sources judge "real significance."

Positioning layer (Open Interest)

Key rule: GEX primary wall + large OI = this structure is not just theory — it's reality with positioned exposure.

Flow layer (Volume)

DEX (extra layer)

Veteran mantras

Step 5: Find confluence (detailed in Chapter 4)

Final step: stack the four layers and find multi-layer overlaps.

How HermesGEX computes

Complete example: 60-second read of today's ES

Assume ES at 5980, DTE = 0.

Step 1: Choose view

ES intraday → Standalone 0DTE. HermesGEX default. ✅

Step 2: Judge regime

• Chart HVL at 5960 (golden line)
• Current 5980 > HVL → Long Gamma universe
• Header NET = +320 ✅ Agrees
• Regime tint green ✅ Agrees

→ Conclusion: Volatility-suppression regime, lean toward chop, fade.

Step 3: Find primary walls

• C1 = 6010 (chart solid green, ★★★)
• P1 = 5950 (chart solid red, ★★★)
• cT = 5985 (right above spot, alert)
• pT = 5945

→ Conclusion: Today's range 5950-6010, upper transition edge 5985 right at our nose.

Step 4: Add weighting

Read Levels Reading Board:

• 6010: C1 + AbOI + COI + CV → 4-layer confluence ★★★
• 5950: P1 + POI → 2-layer ★
• 5985: cT + Ab2 → 2-layer ★

Step 5: Find confluence + script

Today's script:

Strategy 1: Fade upper rail in 5980-6010
  Entry:   Touch 6010 ★★★, see rejection (momentum fade)
  Target:  5985 (cT mid) or 5960 (HVL)
  Invalid: Hold above 6010 for 5 minutes

Strategy 2: Break below 5960 (HVL) → trend script switch
  Entry:   Break HVL + failed retest
  Target:  5950 P1
  Invalid: Return above 5960 within 3 minutes

Strategy 3: Break cT 5985 short long
  Entry:   Hold above cT + NET continues up
  Target:  6010 C1
  Invalid: Drop back below 5980

→ In 60 seconds you know: today's universe, defended levels, possible scripts, trigger conditions.

Practical advice: Don't over-tune

HermesGEX defaults to Standalone 0DTE because:

Standalone 0DTE is enough for intraday futures. Swing = GEX Matrix. Two layers, done.

60-second reading cheatsheet (print and stick to your screen)

┌─ 1. Timeframe ────────────────┐
│ Header ticker / DTE locked    │
└────────────────────────────────┘
              ↓
┌─ 2. Regime ───────────────────┐
│ HVL position? NET sign?       │
│ Above = Long / Below = Short  │
│ Regime tint confirms          │
└────────────────────────────────┘
              ↓
┌─ 3. Primary Walls ────────────┐
│ C1 / P1 = ★★★ defend          │
│ cT / pT = transition alert    │
└────────────────────────────────┘
              ↓
┌─ 4. Weighting ────────────────┐
│ AbOI / COI / POI confirm pos. │
│ CV / PV / Heat confirm flow   │
└────────────────────────────────┘
              ↓
┌─ 5. Confluence ───────────────┐
│ ★★★ = must-defend             │
│ TacticalHUD script ready      │
└────────────────────────────────┘
              ↓
        Wait for momentum, then enter

Next

You can now "read the GEX chart." Next: upgrade to "decide with GEX" — via the Confluence framework.

Chapter mantra: Pick timeframe → judge regime → find primary walls → add weighting → find confluence. Each step has one HermesGEX component. Walk all five before entering.