Dealer positioning, live on the charts you already trade— on SPY, QQQ, and any optionable US ticker —
Real-time gamma walls, the gamma flip, delta exposure, and a live pressure oscillator — on SPY, QQQ, and any optionable US ticker. The same market-maker positioning signal institutional trading desks watch, drawn as an indicator on the platforms you already use. No new terminal. No new data bill. No third party ever sees your book.
Your levels update live on the chart, automatically, as market-maker positioning shifts. No data to import, nothing to paste… Dark Horse feeds itself.
The panels
GEX & DEX — dealer positioning as a living chart
Two sub-panels sit under your candles. The GEX panel tracks net dealer gamma;
the DEX panel tracks net dealer delta. Each carries a session-anchored mean — the running average
of the whole session — and a ±1σ band around it. Inside the band, positioning is behaving
normally. When the value breaks out of the band and stays there, dealer positioning is departing from its
session anchor — often visible before the move shows up in price.
Example session. Green above zero, red below. The solid white line is the session-anchored mean;
the dotted lines are the ±1σ band. A sustained breach below the lower band means positioning is
deteriorating faster than anything the session has priced in — rallies into that condition are fighting the hedging flow.
How it works
Runs where you already trade.
Dark Horse is software, not a data service. It installs alongside the platform you already trade,
works with the brokerage account you already have, and draws the levels on the chart you already watch.
No new terminal. No new data bill. No third party ever sees your book.
1
Install
Download the Dark Horse companion for your platform. One installer, a few minutes, no new terminal to learn.
2
Connect your broker
Sign in to your own brokerage the way you already do — the same six brokers listed below. Takes about a minute.
3
Trade with the levels
Call wall, put wall, gamma flip, and the live GEX & DEX panels appear on your chart and update automatically all session.
Private by design. We never receive, store, or resell your market data, your positions, or your account
information. Your book is yours alone.
Planned pricing
Priced like software — because it is
Hosted positioning dashboards and quant APIs run $63–$249/month and make you leave your chart to use them.
Dark Horse starts at $29 and draws on the chart you already trade.
Basic
$29/mo
Real-time SPY & QQQ
All levels, GEX & DEX panels
Wall-shift alerts
Companion window · ad-free
Most popular
Chart
$99/mo
Drawn on your own chart — NinjaTrader & Sierra, native
Gamma pressure oscillator
Session-anchored ±1σ bands
Gamma-flip alerts
Complete
$199/mo
Any optionable US ticker — type a symbol
Full Greek stack: VEX & CHEX
Liquidity confidence flag
Multi-account · priority support
Free tier at launch:live levels on a single symbol — not delayed — plus the daily
morning positioning report. Free for everyone on the waitlist, no card required.
Planned pricing — final tiers will be confirmed at launch. Annual billing ~20% off.
Prices lock at your sign-up rate: any future increase applies to new subscribers only.
Real-time levels use your own brokerage's real-time data entitlement (your existing arrangement with your broker).
Coverage
One engine. Every ticker.
The proprietary Dark Horse engine runs on far more than the index ETFs. Here is exactly what it covers today, what is next, and what is still on the roadmap — stated plainly, because we will not market a symbol before the product actually serves it.
At launch
SPY & QQQ
The deepest options markets in the world, and the home of the 0DTE crowd. Live levels, walls,
flip, GEX/DEX panels and the pressure oscillator. Every paid tier.
At launch · Complete
Any optionable US ticker
NVDA, TSLA, AAPL, IWM, sector ETFs — type a symbol and Dark Horse computes it on demand. Every level carries a
liquidity confidence flag, because dealer gamma on a thinly traded name is noise and we would rather say so than
pretend otherwise.
Next
SPX & NDX index options
Index coverage is next. It requires one additional data entitlement at your broker — an index feed, typically a
few dollars a month — and adds a single step to setup.
On the roadmap
ES & NQ futures options
A genuinely different pipe, with different data and different pricing mechanics. It also narrows the broker list
— not every supported broker offers futures options at all. We would rather ship it properly than claim it early.
We will not market a symbol before the product actually serves it. This page is the honest
version of the roadmap, and it is the one we will be held to.
Questions
Frequently asked questions
What is Dark Horse Market Maker Positioning?
Dark Horse — Market Maker Positioning (previously named Dark Horse GEX & DEX — same company, same product, same site) is a market-maker positioning indicator. It draws the gamma walls (call wall and put wall), the gamma flip, delta exposure, and a live gamma pressure oscillator on the charts you already trade. It works with the brokerage account you already have, with no separate data subscription. It launches on SPY and QQQ and runs on any optionable US ticker on the Complete tier.
Can it compute levels for stocks other than SPY and QQQ?
Yes. On the Complete tier you type a symbol and Dark Horse computes it on demand — NVDA, TSLA, AAPL, IWM, sector ETFs, any optionable US name. Every level carries a liquidity confidence flag, because dealer gamma on a thinly traded name is statistically noisy and we would rather tell you that than pretend otherwise.
What about SPX, NDX, or ES and NQ futures options?
SPX and NDX index options are next. They require one additional data entitlement at your broker — an index feed, typically a few dollars a month — and add a single step to setup. ES and NQ futures options are on the roadmap but are a genuinely different pipe, with different data and different pricing mechanics, and a narrower set of brokers that support them at all. We will not advertise a symbol before the product actually serves it.
What are VEX and CHEX?
Vanna exposure (VEX) and charm exposure (CHEX) are the higher-order dealer exposures: how dealer hedging shifts as implied volatility moves, and as time passes. They are included on the Complete tier at no extra cost to you. Being straight with you: higher-order exposures are model-derived estimates and are more assumption-dependent than gamma. That is true of every provider who publishes them; we would rather say it than bury it.
Which brokers does it work with?
Any broker whose API exposes an options chain with greeks and open interest: Interactive Brokers, Schwab/thinkorswim, Tradier, tastytrade, TradeStation, and E*TRADE. Robinhood, Webull, and Fidelity do not offer a usable retail options-chain API, so they cannot supply the data Dark Horse needs.
Do I need to buy a market data subscription?
Not from us. Real-time levels do require your own real-time options data entitlement from your broker — the arrangement you already have with them — and index options will additionally require an index feed. We never receive, store, or resell your market data, your positions, or your account information.
How much will it cost?
Planned pricing is $29/month for Basic, $99/month for Chart, and $199/month for Complete, with a free tier that includes live levels on one symbol plus the daily morning positioning report. Hosted dashboards and quant APIs in this category run $63–$249. Your price locks at the rate you sign up on; future increases apply to new subscribers only.
Is the free tier delayed?
No. The free tier is live, on one symbol, plus the daily morning positioning report — not a delayed teaser.
How is this different from SpotGamma, MenthorQ, GEXBot, or FlashAlpha?
They are web dashboards and quant APIs: you leave your chart to go look at them, and the data cost is priced in. TradingView-based GEX scripts are throttled by the platform and run on delayed data. Dark Horse puts the levels on the chart you are already watching, live — and treats delta exposure as a first-class signal rather than an afterthought. It launches narrow on SPY and QQQ, and scales to any optionable US ticker on the Complete tier.
Is Dark Horse financial advice?
No. It is an analytics and charting tool that shows where market-maker positioning sits. It does not issue trade recommendations, does not predict direction, and makes no claims about trading outcomes. Trading options involves substantial risk of loss.
Sign up for early access — lock in the free tier and get the morning positioning levels each trading day at launch.
No spam. One email when the doors open.
You're on the list.
Welcome to Dark Horse. When we launch, you'll get the morning market-maker positioning levels — gamma walls, the gamma flip, the delta lean, and the pressure read — for SPY and QQQ, before the open each trading day. Free at launch for everyone on this list.
We're heads-down building. We'll email you the moment the doors open — no spam in between.
