Beyond Gamma Exposure
How the regimes Gamma Exposure doesn't see cause the sharpest losses in markets.
By the CrossVol Derivatives Desk.
First Edition · May 2026 · 320 pages · 9 chapters.
ASIN: B0H2QSF3X1 · Paperback & Kindle
Most traders read markets through one lens: Gamma Exposure. It works in stationary regimes — and breaks the moment the regime breaks. This book gives you the three lenses GEX-purists don't watch, and the five dated dislocations since August 2024 that prove why you need them.
The four lenses
Where dealers stand. Where the spot magnetism comes from. The lens most retail watches — and the one that misses OTC structured flows.
Who is short volatility. Where an unwind begins. Three of five dislocations since August 2024 started here.
25-delta skew across equities, FX, commodities — the cross-asset language of regime change that price action lags by days.
VIX curve, lease rates, calendar spreads, inventories. The slowest-moving lens — and the most reliable warning when it stops moving.
Five dated war stories
Each dislocation rebuilt through the four lenses, with the timestamped public X calls from the CrossVol desk — verifiable, anyone, any time.
What's inside — 9 chapters
The structural blind spot of the dealer-positioning lens and why it broke five times since August 2024.
The correct read of GEX as one tool, not the tool. Flip-zones, walls, charm decay — and what they can't tell you.
Income funds, autocalls, ETP flows. The Vega map that catches dislocations before they reach the tape.
25-delta skew as the cross-asset language of regime change. Equity / FX / Commodities decoded.
VIX curve, lease rates, inventories, calendar spreads. The slowest signal — and the most reliable.
Each of the five dislocations rebuilt through the four lenses, with the timestamped public X calls from the desk.
How to size a 4-lens trade. Stop logic. Theta budgets. Vega caps. What blew up the income funds in 2024.
When 3 of 4 lenses agree across SPX, EURUSD, gold, copper, US10Y — the trade is no longer a guess.
The same workflow the CrossVol desk runs internally — pre-market, EU handoff, US open, close. With templates.
The desk
Written by the CrossVol Derivatives Desk — the team behind the framework. Years of buy-side and sell-side derivatives experience aggregated into one operational read on volatility regimes.
The CrossVol terminal at crossvol.com is the operational expression of the framework this book lays out — the same routine, run live, across 44 underlyings.
Read the framework. Then run the terminal.
The book is the language. The terminal is the daily routine.
The China AI Disruption Thesis
Why The Sell-Side Is Six Months Late On AI Infrastructure
Published 23 May 2026 · Kindle eBook · ASIN B0H11WH3R9 · by Djellal Djouad & CrossVol Research
The complete 5-shock framework for the Q2 2026 → Q1 2027 window in AI infrastructure: token-level commoditization (DeepSeek V4 ~95% below frontier US models), Chinese hardware cost parity, the US power-grid bottleneck (PJM auction $329/MW-day, +11.4× in two years), the hyperscaler corporate-bond wall ($145B+ YTD 2026), and the dated tariff & critical-minerals catalysts (10 Nov, 27 Nov 2026).