Free GEX Analyzer
The same GEX analysis our platform runs, on a 15-minute delay. Chart or table, net or call-only or put-only, for SPY, QQQ and IWM — with the gamma flip, call wall and put wall marked, and a built-in walkthrough of how to read them.
What is GEX?
Gamma Exposure measures the net options gamma held by market makers at each strike price, in dollar terms. It reveals the mechanical pressure dealers must apply to stay hedged as price moves.
Positive GEX = Resistance
When dealers are long gamma at a strike, they sell rallies and buy dips to stay hedged. This mechanical activity dampens price moves — creating gravity that pins price near high-GEX strikes.
Negative GEX = Acceleration
When dealers are short gamma, they chase price to stay hedged — buying into rallies and selling into drops. This amplifies volatility and turns negative-GEX strikes into zones of rapid price extension.
How to read the GEX chart
The bars show dealer gamma at each strike
Each horizontal bar represents a single strike price. The length and direction tell you the magnitude and sign of dealer gamma. Longer green bars mean bigger resistance zones. Longer red bars mean bigger acceleration potential. The bars closest to current spot price are most relevant for near-term trading.
Watch the flip point — where behavior changes
The price level where GEX crosses from positive to negative (or vice versa) is called the gamma flip point. Above it, dealers dampen moves. Below it, they amplify them. The purple dashed line marks it on the chart, and the Gamma Flip metric card gives its level and distance from spot. Where spot sits relative to it tells you which regime the market is currently in.
Spot price tells you where you are in the structure
The white dashed line marks spot. The legend in the top-right names every level drawn on the chart — hover an entry to highlight its line. Look at what's directly above and below spot: are you trading into a large gamma wall, or is there open air before the next GEX level? This spatial relationship drives short-term price behavior.
Round strikes concentrate the most gamma
Look for the outsized bars, and note where they land. Round numbers attract enormous open interest — retail, institutional, and algorithmic traders all cluster at the same strikes. The largest positive bar is the call wall, typically the nearest meaningful resistance; the largest negative bar marks the strongest acceleration zone. More gamma means more dealer hedging pressure, and more mechanical significance for price.
This is delayed. Options Flow gives you the live picture.
The chart above runs 15 minutes behind. Real GEX changes continuously as options are traded, positions are opened and closed, and the underlying moves — and the levels that matter most move with it. Options Flow tracks this in real-time.
Real-time GEX updates
GEX recalculates as trades hit the tape. See how dealer positioning shifts intraday as large positions are opened or expired.
Gamma flip detection
Automatic identification of the current gamma flip point and live alerts when price approaches or crosses it.
Multi-ticker GEX
Run GEX analysis on any optionable underlying. Indices, sector ETFs, mega-cap equities — all covered.
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Master GEX Analysis
Go beyond the basics with our complete GEX learning series.
What is Gamma Exposure (GEX)?
Complete guide to understanding GEX, market maker hedging, and how gamma exposure drives price behavior.
GEX Levels Explained
Understand positive vs negative GEX, the zero line, call walls, put walls, and how they act as support/resistance.
How to Read GEX Charts
Step-by-step tutorial on interpreting GEX charts, identifying key zones, and spotting common patterns.
GEX Trading Strategies
Practical frameworks for using GEX in your trading: intraday setups, OPEX plays, and volatility expansion trades.
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