# Call Ladder

**Understanding the Call Ladder**

The term "Call Ladder" refers to a distinct pattern observed in the gamma distribution of a specific stock. This formation is marked by:

* A concentration of call gamma spread across consecutive strike prices that are set above the current trading price.
* A noticeable absence of put gamma.

In July 2021, $SPRT surfaced on the GEX Dashboard scanner due to its pronounced negative SA-GEX to Volume ratio. The "Call Ladder" was highlighted in the Gamma Formation section.

When a stock is tagged with "Call Ladder", it's essential to analyze the gamma formation. This can offer insights into the stock's potential to sustain upward momentum. Key indicators include:

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investors will often sell their puts as options expiration approaches, forcing dealers to Buy To Close the puts and buy the underlying stock.
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Ensure that the Gamma Exposure isn't nearing its expiration.
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