The Figures

Visual reference from The AI-Augmented Trader

Twenty-three figures across eight chapters. Each figure is a load-bearing piece of the framework's reading surface — gamma mechanics, the structural map, regime identification, structure selection, the three-signal entry rule, the fade variant, exits, and the macro calendar.

The figures are designed to read at print resolution and at grayscale reproduction. No distinction is encoded in color alone; every distinction is also encoded in stroke weight, line style, or label.

Chapter 2 — Gamma Exposure — The Force That Moves Markets

The mechanics chapter. Gamma is what makes 0DTE different from any other expiration cycle, and the dealer hedging response to gamma is what produces the structural levels the rest of the framework reads.

Figure 2.1 — The gamma curve

Gamma magnitude as a function of strike distance from at-the-money. The 0DTE curve produces a sharp narrow peak at ATM. The 30DTE curve is broader and lower. Gamma peaks at the money and collapses in both directions, with the rate of collapse controlled by time to expiration.

Figure 2.2 — Dealer hedging mechanics: long gamma vs short gamma

Two-panel comparison of dealer hedging behavior. Long gamma: counter-trend flow dampens moves (arrows point against price gradient). Short gamma: pro-trend flow amplifies moves (arrows point with price gradient). Dealer position determines whether intraday flow stabilizes or destabilizes price.

Figure 2.3 — The gamma flip as a zone, not a line

Aggregate dealer gamma exposure as a function of underlying price, transitioning from positive above to negative below through a horizontal band. GT marks the upper edge; GB marks the lower edge. The gamma flip is operationally a zone, not a single price.

Chapter 7 — Parsing the Structure — Levels That Matter

The map chapter. Eleven structural levels, two Expected Move boundaries, and three magnitude reads — the framework's complete reading surface, established once and referenced everywhere.

Figure 7.1 — The magnitude reads: EM, RM, Consumption Ratio

Worked-example session diagram showing the three magnitude reads. EM forecasts the envelope; RM measures the larger of open-to-current absolute or session high-to-low; Consumption Ratio is RM divided by EM. Structure says where; volatility says when; magnitude says whether.

Figure 7.2 — The complete GEX level map

All eleven GEX structural levels and the two Expected Move boundaries arranged in canonical relationship along the SPX price axis. Stroke conventions encode the level class: GT/GB heavy black solid, resistance black dashed, support black dotted, danger and pin gray solid, EM gray dashed.

Chapter 8 — Regime Identification

Two regimes, no third. Identify the regime first, read the structural map second, apply the entry rules third — in that order, every time. The framework breaks when the order breaks.

Figure 8.1 — The two regimes

Two-panel comparison of the framework’s binary regime model. Dealer Gamma Long: ranges hold, mean reversion paid, credit structures default. Dealer Gamma Short: breakouts follow through, trends pay, debit structures only. There is no third regime.

Figure 8.2 — The GT-to-GB band as transition zone

Vertical price-axis schematic dividing the market into three regions. Above GT: Dealer Gamma Long, credit structures. Below GB: Dealer Gamma Short, debit structures. Inside the band: paused at root, no entry until price clears the band.

Chapter 15 — Structure Selection

Six structures, two regimes, one menu. The regime tells you what kind of trade is on the table; the level tells you where it is; the structure is how you express the answer the framework has already given you.

Figure 15.1 — The regime decision tree

Top-down decision tree showing how the framework selects a structure expression from the regime read. Branch A (GT held) leads to credit structures; Branch B (GT broken) leads to debit structures. Inside the band routes to no entry.

Figure 15.2 — Iron condor profit and loss at expiration

Trapezoidal P&L curve flat at maximum profit between short strikes, sloping through breakevens to flat maximum loss outside both wings. Max profit equals credit collected; max loss equals wing width minus credit collected.

Figure 15.3 — Bull put vertical P&L at expiration

Hockey-stick P&L curve flat at max loss below the long put, sloping up through breakeven to flat max profit above the short put. Credit setup placed at a support level in Dealer Gamma Long.

Figure 15.4 — Bear call vertical P&L at expiration

Mirror of the bull put: flat max profit below the short call, sloping down through breakeven to flat max loss above the long call. Credit setup placed at a resistance level in Dealer Gamma Long.

Figure 15.5 — Iron butterfly P&L at expiration

Tent-shaped P&L with sharp peak at the center strike where short put and short call coincide. Max profit equals credit collected, realized only at the center strike. The framework’s tight-Pin expression sized one tier below condor equivalent.

Figure 15.6 — Bull call debit spread P&L at expiration

Hockey-stick P&L flat at max loss equal to debit paid below the long call, sloping up through breakeven to flat max profit above the short call. Narrow-exception upside expression in Dealer Gamma Short with confirmed continuation.

Figure 15.7 — Bear put debit spread P&L at expiration

Mirror of the bull call debit: max profit below the short put, sloping down through breakeven to max loss equal to debit paid above the long put. Narrow-exception downside expression in Dealer Gamma Short with confirmed continuation.

Figure 15.8 — Strike placement against the GEX level map

Iron condor strikes overlaid on the vertical level map. Short put sits just below ST; short call sits just below RT. Wing brackets show wing width on each side. Annotation marks the dominant call node clearance rule of at least ten points to CW.

Chapter 16 — The Three-Signal Entry Rule

Three signals as sequential gates: GT held, ATR(5) compressed, EM consumed. Each gate must clear in order. Failure at any gate produces no trade.

Figure 16.1 — The three signals as sequential gates

Horizontal flow diagram of the framework’s three-signal entry rule as three sequential gates. Each gate must clear in order: GT held, ATR(5) compressed, EM consumed. Failure at any gate produces no trade.

Figure 16.2 — ATR(5) compression at a named GEX level

Two-panel time-series showing Signal 2 in operation. Upper panel: SPX price compressing into a structural level. Lower panel: ATR(5) declining to compressed values across at least ten consecutive 1-minute bars. Compression is volatility confirmation that price has stopped moving at structure.

Chapter 17 — The Fade Entry Variant

The framework's narrowest entry condition. Not on first test. Not after second resolves. The variant is the second test, in progress — and the narrowness is the edge.

Figure 17.1 — The second-test rule

Time-series schematic of the fade variant entry timing. First approach rejects, price pulls back, second approach in progress is the entry window. Not on first. Not after second resolves. Not on third.

Figure 17.2 — Test versus sweep versus break

Three-panel comparison distinguishing the operationally different ways price interacts with a level. Test: clean reject, level holds. Sweep: wick through, immediate return, false break. Break: three consecutive 1-minute closes through, level fails.

Chapter 18 — Trade Management and Exits

Entries get the credit. Exits earn it. The framework is built so that both decisions are made before the position is open.

Figure 18.1 — Time-adjusted profit targets

Stepwise profit-target schedule across the trading day. 50% before 11 AM, 40-45% from 11 AM to 1 PM, 35% from 1 PM to 2 PM, first profitable from 2 PM to 2:30 PM, soft stop at 2:30 PM, hard cutoff at 3 PM. As theta accelerates, the framework demands less.

Figure 18.2 — The hardened level-based exit rule

Three consecutive 1-minute closes at or through the short strike trigger position close at market. No GEX read overrides this exit. Once the level-based rule fires, structural analysis does not apply.

Figure 18.3 — The exit hierarchy

Five exit rules ordered by precedence: hardened level-based exit, 3:00 PM hard cutoff, 2:30 PM soft stop, time-adjusted profit target, discretionary hold limit ratchet. When two rules fire simultaneously, the higher priority always wins.

Chapter 21 — The Macro Calendar

Two tiers, three structural filters. Tier 1 suspends the framework entirely. Tier 2 compresses it and re-validates after the print.

Figure 21.1 — The two-tier macro classification system

Decision diagram for framework response to scheduled macro events. Tier 1 (FOMC, NFP, CPI): suspend entirely. Tier 2 (GDP, Core PCE): compress and re-validate after 45-60 minutes on confirmed ATR contraction. Sub-Tier-2: framework runs normally.