Understanding Convergence Scores
What those [3/4] and [2/4] numbers mean and how to read them.
TL;DR
Convergence is a 0–4 score next to your Call Wall, Put Wall, P1, and N1 levels. It counts how many independent options-chain signals (gamma peaks, AG peaks, max OI, max volume) all line up at the same strike. Higher score = more signals agreeing = more market structure stacked at that level.
Where you see it
Look at your dashboard panel. To the right of each key level you’ll see something like 12.2x [2/4]. The first number is the level’s strength multiplier. The bracketed number is the convergence score — that’s what this doc is about.
The [1/4], [2/4] values next to Call Wall, P1, N1, and Put Wall are convergence scores.
The simple version
Think of each strike on the options chain as a riverbed. Different streams of activity flow through it — gamma, open interest, daily volume, dealer positioning. When one stream is loud at a strike but the others are quiet elsewhere, you’ve got a shallow puddle. When multiple streams all converge into the same riverbed, you’ve got a deeper, faster current.
Convergence is just counting how many of those streams are landing in the same place. GammaFlux checks four of them.
The 4 signals being counted
For each key level, GammaFlux adds 1 point to the score for each of these four signals that fall close to it:
Net gamma peak alignment
Is the level near P1 (the strike with the most positive net gamma) or N1 (the strike with the most negative net gamma)? P1 and N1 are where dealers have the strongest hedging pressure. When a wall sits on top of P1 or N1, that’s structural reinforcement.
Absolute gamma peak alignment
Is the level near AG1 or AG2? These are the two strikes with the largest total gamma activity (calls and puts combined, regardless of direction). Walls and flips that sit on top of AG peaks tend to be where the most hedging is happening.
Open interest concentration
Is the level near the strike with the highest call OI or put OI? Open interest is the total number of contracts that exist at each strike — the strikes with the most OI represent where the largest positions live. Big positions need to be hedged, and that hedging happens around those strikes.
Today’s volume concentration
Is the level near the strike with the highest call volume or put volume traded today? Volume is fresh activity — what’s being traded right now. High-volume strikes tend to attract more attention from active traders and more dealer hedging today, even if the OI there is small.
“Close enough” counts
Two strikes don’t have to be identical to count as converging. They just need to be within a small price tolerance of each other:
| Symbol | Tolerance |
|---|---|
| SPY, QQQ | ±$3 |
| SPX, NDX | ±$15 |
So if your SPY Call Wall is at 590 and the strike with the most call OI is at 591, they still count as converging — the gap is inside the tolerance.
Reading the score
The level exists in the data but no other independent signals from the chain agree with it.
One of the four signal types confirms it. The level is real, but the rest of the chain isn’t broadly supporting it.
Two signals agree. A meaningful level with multiple data points behind it.
Three of four signals stack up. A high-conviction structural level.
All four signals converge. Rare. Every measurable view of the chain is pointing to the same strike.
A real example
Here’s a snapshot from a SPY dashboard:
Notice that the chart groups levels visually when they share a strike:CW + P1, OI Flip + Flow Flip + Price, PW + N1 + AG2. That’s purely a visualization — it tells you which GammaFlux levels happen to land on the same strike. (When the OI Flip and Flow Flip share a strike like this, the regime is settled; when they pull apart, live flow is dragging the regime line away from the standing structure.)
But in the panel below the chart, you can see:
- • Call Wall at 665 has convergence
[1/4] - • Put Wall at 650 has convergence
[2/4]
Even though both walls have other GammaFlux levels stacked on the chart with them, their convergence scores are different. Why? Because convergence isn’t counting how many GammaFlux levels overlap visually — it’s counting how many of the four independent signal types (gamma peak, AG peak, max OI, max volume) line up at that exact strike.
For Put Wall to score 2/4, two of the four signal types are landing within $3 of 650. For Call Wall to score 1/4, only one is. The other signal types — like max call volume or max call OI — are pointing to different strikes elsewhere on the chain.
What convergence is NOT
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It’s not a price target.
It describes the structural agreement at a level, not where price will go next.
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It’s not a buy or sell signal.
GammaFlux doesn’t generate trade signals. It shows you the structural levels in the options chain so you can make your own read.
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It’s not a guarantee.
A 4/4 level can still break. Convergence describes alignment, not certainty.
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It doesn’t count overlapping GammaFlux levels.
It only counts the four independent signal types listed above — not how many other GammaFlux levels happen to share a strike.
Quick reference
| Convergence | A 0–4 score showing how many independent options-chain signals line up at a key level |
| P1 / N1 | Strikes with the largest positive / negative net gamma exposure |
| AG1 / AG2 | Top two strikes by absolute gamma exposure (both directions combined) |
| Max OI | Strike with the most outstanding contracts (call or put) |
| Max volume | Strike with the most contracts traded today (call or put) |
| Tolerance | How close two strikes must be to count as converging ($3 SPY/QQQ, $15 SPX/NDX) |