Documentation
Everything you need to get started with OPEX Trader. From installation to your first GEX analysis in minutes.
Quick Start Guide
Go from download to your first analysis in four steps.
Download & Install
Download OPEX Trader for your platform (macOS, Windows, or Linux). Run the installer and follow the on-screen prompts. The app is under 150 MB and installs in seconds.
Launch & License
Open OPEX Trader. On first launch, you can choose a Free Trial to explore all features, or enter a license key if you already have one. No credit card required for the trial.
IBKR Setup
Install IBKR Gateway (lighter than TWS), enable API connections, and configure the port. Use port 4002 for paper trading or port 4001 for live. The built-in Connection Wizard walks you through every step.
First Analysis
Select a symbol (SPX, AAPL, TSLA, etc.), click "Refresh Data," and start exploring the 91 analytics tabs. The GEX Dashboard is a great place to begin.
Connecting to Interactive Brokers
OPEX uses IBKR Gateway for real-time equity and futures options data.
What You Need
- An IBKR account. Paper trading accounts are free and provide full market data access.
- IBKR Gateway (not TWS). Gateway is lighter, more stable, and purpose-built for API connections.
Configuration
1. Install IBKR Gateway
Download from interactivebrokers.com. Install and log in with your IBKR credentials.
2. Enable API Connections
In Gateway, go to Configure → Settings → API → Settings. Check "Enable ActiveX and Socket Clients."
3. Set the Port
Use port 4002 for paper trading or 4001 for live trading. Paper trading is recommended for getting started.
4. Trusted IP
Add 127.0.0.1 to the trusted IP list so OPEX can connect from your local machine.
Important: Market Data Type
Always use FROZEN market data (type 2) when connected to a paper trading account. Using LIVE market data (type 1) on paper accounts causes error 10197 and prevents data retrieval. OPEX sets this automatically, but verify in Settings if you experience connection issues.
Built-in Connection Wizard
On first launch, OPEX displays a 4-step Connection Wizard that walks you through the entire IBKR setup process: Welcome, IBKR configuration, connection test, and default symbol selection. You can re-open it anytime from Settings.
Deribit Setup (CrypTex Module)
Access 24/7 Bitcoin and Ethereum options analytics through the CrypTex module.
Create a Free Account
Sign up at deribit.com. No deposits required -- OPEX reads publicly available market data only.
Automatic Connection
OPEX connects to Deribit automatically via WebSocket. No API keys or configuration needed. Just switch to the CrypTex module and start analyzing.
BTC & ETH Options
Full options chain analysis for Bitcoin and Ethereum. 30 dedicated CrypTex tabs including GEX, Vol Skew, OTM Scanner, and Crypto Skew Lab.
24/7 Streaming
Crypto markets never close. Deribit data streams around the clock with real-time updates to GEX calculations, volatility surfaces, and AI analysis.
Key Concepts
Core terminology and systems you will encounter throughout OPEX Trader.
GEX (Gamma Exposure)
Measures the net gamma of market makers across all strikes and expirations. Positive GEX creates support (dealers buy dips, sell rips). Negative GEX creates acceleration (dealers amplify moves). Key levels include the Call Wall, Put Wall, and Gamma Flip point.
DEX (Delta Exposure)
Tracks dealer delta hedging pressure from options positioning. Shows the directional flow created by options market making. When combined with GEX, it reveals whether dealers are net long or short delta and how aggressively they must hedge.
Storm Score
OPEX's proprietary signal scoring system (0-100). Combines GEX regime, spread detection, OTM flow, institutional footprint, volume anomalies, and cross-timeframe consensus into a single actionable score. Higher scores indicate stronger setups.
God Stack AI
A 7-tier AI system with 27 custom-trained models specialized for options analysis. Each model is trained on specific domains: GEX formulas, spread mechanics, risk management, and volatility theory.
Cascade Warning
An early warning system for gamma-driven price cascades. When negative GEX combines with high open interest near the current price, dealers must hedge aggressively in the same direction as the move, creating a feedback loop. OPEX detects these conditions before they trigger.
Frequently Asked Questions
Common questions about OPEX Trader, licensing, and data sources.
OPEX supports 326 equities and ETFs (including SPX, SPY, QQQ, AAPL, TSLA, NVDA, and all major names), 32 futures contracts, plus BTC and ETH options through the CrypTex module. New symbols can be added on request.
No. IBKR offers free paper trading accounts that provide full market data access. Paper trading is perfect for learning OPEX and testing strategies before going live. You only need a funded account when you are ready to trade with real capital.
OPEX uses real-time streaming data from IBKR. Options chains, GEX calculations, and AI analysis update continuously while the market is open. You can also manually refresh any tab with the Refresh Data button. Crypto data via Deribit streams 24/7.
They are two modules within the same application. OPEX covers equity and futures options using IBKR data. CrypTex covers cryptocurrency options (BTC and ETH) using Deribit data. Both share the same analytics engine, AI models, and interface. CrypTex has 30 dedicated tabs with crypto-calibrated thresholds.
Yes. Your license allows activation on up to 3 devices simultaneously. Simply download and install OPEX on each machine and sign in with your license key. Activations can be managed from your account settings.
No. All AI-generated analysis in OPEX is for informational and educational purposes only. Every AI panel displays an "AI analysis — not financial advice" watermark. OPEX is an analytics tool that helps you make more informed decisions, but it does not provide financial advice.
The 27 custom models are fine-tuned on foundational options theory covering volatility pricing, dynamic hedging, options strategies, volatility skew analysis, and chart pattern recognition. Each model specializes in a specific domain like GEX analysis, spread mechanics, or risk management.
Email support@opextrader.com with a description of the issue or feature request. Include screenshots if possible. You can also join our Discord community where the development team is active and responsive.
A mobile companion app for iOS and Android is currently in development. It will provide key dashboard views, alert notifications, and Storm Score monitoring on the go. Desktop remains the primary platform for full analytics.
Yes. The AI Trade Journal supports CSV export for all logged trades, including entry/exit prices, P&L, and conviction scores. Signal data and analytics results can also be exported. Plotly charts can be downloaded as PNG images directly from the chart toolbar.
Need Help?
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Download OPEX Trader, connect to IBKR, and run your first GEX analysis today.