# Dealer Edge Charm Lens

> The Charm lens is the fourth heatmap view on Dealer Edge. It shows time-decay drift exposure by strike - useful near expiry when delta moves faster than gamma…

Source: https://tradeecho.com/docs/features/dealeredge/charm-lens (updated 2026-08-01)

The Charm lens is the fourth heatmap view on Dealer Edge. It shows **time-decay drift** exposure by strike - useful near expiry when delta moves faster than gamma pinning alone explains.

![Dealer Edge heatmap with Charm lens selected](https://tradeecho.com/docs/img/app/dealer-edge-charm.png)

**Core rule:** Charm measures how option delta changes as time passes. Those changes can force dealers to adjust hedges and create pressure around specific strikes. **Do not use color alone** - always read where the Charm concentration sits **relative to current price**, especially on **0DTE and short-dated** expirations.

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## Four lenses on one grid

| Lens | Colors | Best for |
|------|--------|----------|
| **GEX** | Red / green | Dealer gamma regime, Anchor and Flip reads |
| **Vol** | Red / green | Options volume concentration by strike |
| **VEX** | Red / green | Volatility exposure |
| **Charm** | Purple / amber | Time-decay drift near 0DTE and weekly expiries |

Charm uses a **different color ramp** from GEX so you do not confuse greek lenses:

- **Negative charm:** purple (`#8B5CF6`)
- **Positive charm:** amber (`#D9A42A`)

**Color identifies the concentration.** **Location above or below price** determines whether pressure is upward, downward, or overhead.

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## Charm location rules

Read the **strongest Charm strike** and note whether it sits **above or below** current price:

| Color | Location vs price | Typical pressure read |
|-------|-------------------|------------------------|
| **Amber** (positive charm) | **Above** price | Potential **upside drift** target |
| **Amber** | **Below** price | Potential **pull lower** |
| **Purple** (negative charm) | **Above** price | Potential **overhead pressure** |
| **Purple** | **Below** price | Potential **downside pressure** |

### Do not use color alone

"Amber = up" without checking location is incomplete. A strong amber stack **below** price reads differently from amber **above** price.

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## Two different jobs: GEX vs Charm

| Lens | Maps |
|------|------|
| **GEX** | Dealer magnet (Anchor) and volatility regime (Flip, Rating) |
| **Charm** | Time-decay **concentration** - interpreted by position above/below price |

GEX proposes **structure**. Charm adds **time pressure** before the closing bell.

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## Confluence and chop

### High confluence

When the **GEX Anchor** and the **strongest Charm concentration** stack at the **same strike**, the level has both positioning and time-decay support.

### Chop warning

When GEX structure and the location-based Charm read **conflict**, expect price to fight between the two forces until one clearly wins. Reduce size or wait for agreement.

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## 0DTE rule

Add Charm to **every 0DTE read**.

- **GEX** tells you the wall or magnet
- **Charm** shows where time-decay pressure is concentrated
- Read that concentration **above or below** current price before deciding how pressure may resolve into the close

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## When to use Charm

Switch to Charm when:

- You are trading **0DTE or front-week** options
- GEX says pin but price keeps drifting through your strike
- You need to size and stop based on **time**, not gamma alone

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## Charm Drift on Pulse

On [Pulse](https://tradeecho.com/docs/features/pulse/quick-start), enable **Charm Drift** to plot the session's strongest time-decay drift level on the live chart alongside GEX levels. See [Charm + Pulse Workflow](https://tradeecho.com/docs/features/dealeredge/dealeredge-charm-pulse-workflow).

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## Web and mobile

Charm is available on **web** (Trade Echo dashboard) and **mobile** (Markets → Dealer Edge → lens selector). Pro mode on mobile remains GEX-only; use the main heatmap toggle for Charm.

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## Related

- [Dealer Edge Quick Start](https://tradeecho.com/docs/features/dealeredge/quick-start)
- [GEX Rating System](https://tradeecho.com/docs/features/dealeredge/gex-rating-system)
- [Charm + Pulse Workflow](https://tradeecho.com/docs/features/dealeredge/dealeredge-charm-pulse-workflow)
- [GEX Heatmap Guide](https://tradeecho.com/docs/features/dealeredge/gex-heatmap-guide)