GEX regime
Whether dealers are modeled as net long gamma (Positive) or net short gamma (Negative) at the current price, read from the price versus the gamma flip.
The GEX regime summarizes a gamma exposure map in one word. CaymanBot reads it from where the spot price sits relative to the gamma flip: at or above the flip the badge reads Positive, below it Negative. With no flip on the map, it falls back to the sign of total GEX.
A Positive regime is associated with dealer hedging that leans against moves and a Negative regime with hedging that follows them. The regime can read Negative even when total GEX is positive, if the large positive strikes sit above the price. It describes the possible size of moves, not their direction.
Illustrative example (hypothetical numbers, not a real trade): total GEX on a stock is +$2B, mostly from strikes above the price, and the flip is at $101. With the spot price at $100, the price is below the flip, so the regime reads Negative.