What is Delta Exposure (DEX), and how can I use it?

What is Delta Exposure (DEX), and how can I use it?

Delta Exposure (DEX) is an options analytics measure that combines Delta and Open Interest (OI) to show directional exposure across different strike prices. It helps you identify where directional exposure is concentrated, even when strikes have similar OI. On FYERS Web, you can view DEX through the Option Chain and Analytics.

Steps to access DEX on FYERS 

  1. Log in to FYERS and go to Options.
  2. Select Option Chain → DEX/GEX to view strike-wise DEX values.
  3. For a chart view, go to Analytics → Delta Exposure (DEX).
  4. Select the required Expiry and choose Call/Put DEX or Net DEX.

How to use the DEX chart

  • Call/Put DEX: Compare directional exposure across Call and Put strikes.
  • Net DEX: View the combined net directional exposure across strikes.
  • Delta Flip: Identify the level where Net DEX changes from positive to negative or vice versa.
  • Expiry: Select the required options expiry.
  • Strike-wise Comparison: Identify strikes with higher directional exposure.

What If...

ScenarioHow It Helps
Want to understand directional exposureUse Net DEX to examine overall directional exposure across strikes.
Want to compare Call and Put positioningSelect Call/Put DEX to identify where directional exposure is concentrated.
Want to identify a change in directional exposureCheck the Delta Flip level to identify where Net DEX changes sign.
Want to analyse specific strike pricesUse Option Chain → DEX/GEX to compare strike-wise DEX values alongside OI.

Note: DEX provides additional context about directional exposure. It does not predict market direction or generate buy or sell signals. Use it alongside OI, price action, and other indicators.

Last updated: 09 Oct 2026