Gamma is one of the most misunderstood yet powerful forces driving options markets. In this episode, Kirk sits down with Lex from Tradier to break down gamma exposure (GEX) — what it is, why it matters, and how it quietly shapes market movement.

Together, they unpack how professional traders use gamma to stay delta-neutral, manage risk, and interpret shifting liquidity, while retail traders can use it to better understand price behavior and volatility.

Lex explains the difference between long and short gamma, how “sticky strikes” form, and why SPX tends to act very differently from fast-moving names like GME. You’ll also learn how changes in open interest and volume can trigger sharp accelerations or reversals — and how to read these setups without getting buried in formulas. It’s a practical, eye-opening conversation about the hidden dynamics of gamma exposure and the edge it can give you in any options market.

Watch the full interview here

Welcome to the Top Traders interview series, where we hear from Option Alpha community members who have delivered strong results over a meaningful number of trades.

In this kickoff episode, FK breaks down his disciplined, probability-driven options trading strategies. We'll explore FK’s approach to selling premium with defined risk, sizing positions conservatively, and running a dual-track portfolio that balances longer-term spreads (marathons) with 0DTE trading (sprints) for consistent returns.

Discover how he structures trade duration, risk management, and exiting positions through automation, with a mindset for long-term sustainability, and shares the steps he's learned to develop a process that focuses on risk control rather than short-term gains.

See the full show notes here

In this comeback episode, I’ll catch you up on the biggest updates inside Option Alpha, the major shifts in today’s options market (hello, 0DTE), and what to expect from the show going forward.

The options landscape has changed dramatically in the past year. From 0DTE dominating SPX volumes to a flood of new retail traders, the environment today looks nothing like when this show last aired.

This reboot of the OA podcast recaps the biggest trends shaping options right now, explores the major updates we’ve released at Option Alpha, and previews what’s ahead for the podcast, including interviews, mini-series, and unique case studies.

See the full show notes here