Free NWS GEX Heatmap - News Corp Gamma Exposure
Use free NWS GEX Heatmap to compare modeled gamma exposure across strikes and expirations for News Corp. Generate the grid, then review call wall, put wall, gamma flip and expiration structure alongside business context that includes advertising demand, subscriber activity, content spending, and product changes.
How to use the NWS GEX Heatmap
Confirm NWS
NWS is already entered. Keep it or search another ticker.
Choose the formula
Keep the default formula or select the available calculation view.
Generate the Heatmap
Create the grid, then compare exposure across strikes and expirations.
Visualize gamma exposure across strike prices and expirations. Green = positive (call-heavy), purple = negative (put-heavy).
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Max Pain Calculator
Options pain strike by expiration
Key levels
NWS GEX heatmap levels in detail
Data as of
Spot
$33.82
Call wall
$35
3.5% above spot
Put wall
$30
11.3% below spot
Gamma flip
$30.82
8.9% below spot
Net GEX
$21
positive gamma
Since the previous session (Oct 22)
- Spot down 0.4% ($33.94 to $33.82)
- Call wall unchanged at $35
- Put wall unchanged at $30
- Net GEX $29 to $21
These are the levels across every expiration in the latest snapshot. The heatmap below breaks the same exposure out strike by strike and expiration by expiration, so you can see which expiry carries each level.
Reviewed by the QuantWheel research team. Modeled from listed NWS options data; not observed dealer inventory and not a forecast. Read how we compute NWS GEX heatmap levels.
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Understanding the NWS GEX heatmap
The NWS options chain represents News Corp. Evaluate its open-interest distribution alongside business context that includes advertising demand, subscriber activity, content spending, and product changes. Use the heatmap to compare modeled exposure by strike and expiration instead of reading one cell without the surrounding grid.
For NWS, compare nearby expiration columns with later expirations before interpreting the call wall, put wall or gamma flip. Changes in open interest and included contracts can alter the modeled grid. The result describes selected options data and does not predict where News Corp will trade.
NWS Heatmap methodology and limitations
The grid applies the selected formula to available NWS options data and organizes the modeled result by strike and expiration. The call wall, put wall and gamma flip summarize that model across the displayed data.
The heatmap does not observe market-maker positions, identify who owns a contract or predict the next NWS move. Use it as positioning context and compare the model with price, liquidity and your own risk plan.
NWS GEX heatmap FAQ
What is a NWS GEX heatmap?
A NWS GEX heatmap is a grid of QuantWheel's modeled gamma exposure. Rows represent strikes, columns represent expirations, and color intensity represents the direction and relative size of the modeled exposure in each cell.
How do I read the NWS GEX heatmap?
Start with strikes near the NWS price, then compare the nearest expiration columns with later expirations. Read down one column to examine one expiration and across one row to see whether modeled exposure at a strike appears in several expirations.
What do the NWS GEX heatmap colors show?
Green cells show positive modeled net gamma and purple cells show negative modeled net gamma. Stronger color indicates a larger modeled value. The colors describe the calculation and are not guaranteed bullish, bearish, support, or resistance signals.
How are the NWS call wall, put wall and gamma flip modeled?
QuantWheel derives the displayed NWS levels from the selected formula and available options data. The call wall marks the largest positive modeled exposure, the put wall marks the largest negative modeled exposure, and the gamma flip estimates where aggregate modeled gamma changes sign.
How is the NWS GEX heatmap different from the NWS GEX chart?
The NWS heatmap separates modeled exposure by strike and expiration. The NWS GEX chart provides a strike-level profile in a chart view. Use the heatmap when the expiration breakdown matters and the chart when you want a simpler strike profile.
Is the NWS GEX heatmap free?
Yes. QuantWheel provides a limited number of free NWS GEX heatmap calculations. The tool shows the remaining free uses before you generate another heatmap.