Returns Whalley-Wilmott hedging band analysis for the specified symbol. Hedging bands identify the zone around each strike where dealers do not need to rebalance (dormant gamma) versus the zone where rebalancing is triggered (activated gamma). This distinguishes between theoretical exposure and actual hedging flow.
Parameters
Path Parameters
Name
Type
Required
Description
symbol
string
Required
Underlying symbol. One of: SPX, SPY, QQQ, IWM, NDX, RUT.
Response
The response data object contains:
total_activated_gexnumberGamma exposure from strikes where the spot price has moved beyond the no-trade band, triggering active rebalancing
dormant_gexnumberGamma exposure from strikes where the spot price is within the no-trade band. This exposure exists on paper but generates no hedging flow.
activation_rationumberRatio of activated to total gamma. Range 0.0 to 1.0. Higher values mean more of the theoretical GEX is actually driving hedging.
num_activenumberNumber of strikes with activated gamma
num_totalnumberTotal number of strikes in the analysis
Note
A low activation ratio (below 0.3) suggests the market is range-bound within hedging bands and dealers are not actively rebalancing. A high ratio (above 0.7) indicates broad-based dealer hedging activity across many strikes.
curl -X GET "https://api.gexengine.com/v1/hedging-bands/SPX" \
-H "X-API-Key: YOUR_API_KEY"