What is CP Gamma Tilt? CP Gamma Tilt is the ratio of total call gamma to total put gamma. Why does CP Gamma Tilt matter? Sharp changes in this ratio may indicate a shift in trader sentiment. This is much like a standard “Put Call Ratio” however we apply a “gamma weighting” which we believe makes the indicator more applicable to market positioning. How to use CP Gamma Tilt If the ratio increases it’s considered a bullish signal, when decreasing it’s a bearish signal. Related articles What is Delta Neutral Price? What is Key Gamma Strike? What is Call Wall Strike? What is 25D Risk Reversal? What is Key Delta Strike?