237: 0DTE Trading & Gamma Exposure - Interview w/ Mat Cashman from OIC
As an options trader, how closely should you be watching gamma and gamma exposure (GEX)? This episode will help you better understand gamma, interpret volatility, recognize inflection points, and build more context-aware strategies.Kirk sits down with Mat Cashman from the OIC to discuss gamma, explore how market makers hedge their positions, and why 0DTE options are so “gamma-rich.” Mat explains why hedging dynamics can create sharp market moves and how concepts like charm and convexity shape market behavior over the course of a single trading session. Then, we try to help traders understand how gamma can help them interpret volatility, recognize inflection points, and build more context-aware strategies.Watch the full interview here
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47:21
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47:21
236: Gamma Exposure for Options Traders - Interview w/ Lex from Tradier
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
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45:36
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45:36
235: Top Trader Interviews - FK
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
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23:25
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23:25
234: Reboot - The Comeback Tour Starts Now
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
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33:38
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33:38
233: Interview with Adam Cohn: Former Market Maker & VP – TradeStation
We're joined by Adam Cohn, Vice President and Head of Trading Operations at TradeStation, an award-winning trading platform known for its comprehensive trading tools, advanced charting capabilities, and extensive market analysis features. Adam brings a wealth of experience, not just from his role at TradeStation but also from his extensive background in options trading in the Chicago pits and as a market maker. His deep understanding of market structure and dedication to best execution have made him a trusted figure in the industry. In our conversation with Adam, we discuss trading operations, market structures, and the complexities of order execution. You’ll learn about order routing and execution, what factors determine fills, payment for order flow (PFOF), the role of market makers, and so much more. This episode is a must-listen for options traders looking for a deeper understanding of trading options!See the full show notes here
At Option Alpha we are devoted to empowering traders with simple, powerful tools supported by world-class research and education. For far too long the options industry has been fragmented, lagging, and unnecessarily complex. By developing industry-first automation technology, enhancing data and information accessibility, and nurturing our thriving community at every level, Option Alpha is changing the way people trade options forever. We’re more than just a software company; we’re leading a movement of traders at every level who are unlocking more freedom through improved and expanded options.
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