GEX Exposure
3 updates · Last updated Oct 2026
Options dealers hedge their positions by buying and selling the underlying, and that hedging can push prices toward or away from certain levels. Gamma exposure (GEX) estimates where that hedging pressure is concentrated. StonkHub calculates GEX by strike and tracks how it shifts throughout the day.
How GEX is calculated
For each strike, gamma exposure is estimated from the option's gamma, open interest, the contract multiplier, and the current price of the underlying. Call and put exposure are combined to show net dealer positioning across the chain. Invalid or unpriced greeks are filtered out so they do not distort the chart.
Reading the chart
- Call walls: strikes with heavy positive gamma that can act as resistance
- Put walls: strikes with heavy negative gamma that can act as support
- Gamma flip: the level where net exposure changes sign, often marking a shift between calmer and more volatile price action
Snapshot timeline
Snapshots are saved roughly every 10 minutes during market hours. Scrub through the timeline to replay how walls and flip levels moved through the session instead of seeing only the latest reading.
Coverage
GEX is available for SPX, SPY, QQQ, and each of the Magnificent 7 stocks.
Screenshots
Update history
-
GEX Chart UI Update
GEX index charts now show walls and flips more clearly, with easier timeline navigation.
- Clearer walls & flips: Call walls, put walls, and gamma flip levels are easier to read on index charts.
- Timeline navigation: Moving through intraday snapshots is faster and more precise.
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GEX Snapshot Timeline + MAG7
GEX snapshots are stored over time, with new coverage for the MAG7, SPY, and QQQ.
- Snapshot timeline: Replay how dealer positioning evolved through the session.
- MAG7, SPY & QQQ: Dedicated GEX tracking for the Magnificent 7, SPY, and QQQ.
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GEX Exposure
SPX options gamma exposure to find potential support, resistance, and volatility zones.
- SPX GEX launched: Gamma exposure by strike for SPX options, highlighting zones driven by dealer hedging.
FAQ
What does positive versus negative GEX mean?
Positive GEX suggests dealer hedging tends to dampen moves. Negative GEX suggests hedging may amplify moves and increase volatility.
How often does GEX update?
About every 10 minutes during regular market hours.
Is GEX a trading signal on its own?
No. It is an estimate of hedging pressure and works best alongside price action and other context.
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