Our research. Free to use.
Our ES and NQ research, with the data, methods and results laid out. Explore the full Edgeless studies and options guides, or download the counts. You don’t need an account.
We ran the 2025 ES and NQ sessions through Edgeless to count gap fills. ES got back to the prior close 63.0% of the time. NQ did it 59.9% of the time. Before you turn either number into a reason to fade the open, look at the gaps that stayed open.
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We wanted to check what happened after ES and NQ opened inside the previous session’s range. In the 2025 sample, ES reached at least one edge 84.8% of the time. NQ did it 79.6% of the time. You still don’t know which side goes first.
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A gamma exposure chart puts options positioning next to price. It helps you distinguish a heavily ranked strike from a thin pocket and see both inside the range options are pricing. Those are different pieces of information; reading them together gives the chart context.
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An expensive volatility reading and a quiet range answer different questions. The volatility premium compares options pricing with recent movement. Compression checks whether a small expected move lines up with a quiet recent range. Neither reading tells you which way the next move goes.
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These studies are our own futures research. We use Edgeless to define a question and count what happened in the stored sessions. You’ll find the sample, exclusions and definitions in each paper, along with the aggregate results to download.
The papers and guides are free, including with FREE PLAY. You can read the full studies on the GEXARCADE landing page too.
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