Free CME GEX - Live CME Group Gamma Exposure
Free CME GEX helps you examine modeled CME Group gamma exposure by strike. Select one or more expirations to compare net GEX, the call wall, the put wall, and the gamma flip around trading activity, market volatility, listings, and transaction volumes.
How to use the CME GEX tool
Search CME
CME is already entered. Keep it or enter another ticker, then select Search.
Select expirations
Choose one or more expiration dates to include.
Generate GEX
Select Generate GEX to view the chart and key levels.
Run up to 3 free GEX calculations per day.
What is Gamma Exposure (GEX)?
Gamma Exposure represents the sensitivity of an option's delta to changes in the underlying price. Market makers hedge their gamma exposure, creating support/resistance at high GEX strikes.
Key Levels:
- Call Wall: Strike with highest positive GEX (resistance)
- Put Wall: Strike with the largest put GEX, shown as the deepest negative bar (support)
- Gamma Flip: Where total GEX changes from negative to positive
Positive GEX: Market makers sell into rallies, buy into dips (stabilizing).
Negative GEX: Market makers buy into rallies, sell into dips (amplifying moves).
Select a ticker and expiration date, then click Generate GEX to see the analysis
Key levels
CME GEX levels in detail
Data as of
Spot
$281.00
Call wall
$290
3.2% above spot
Put wall
$270
3.9% below spot
Gamma flip
$274.54
2.3% below spot
Net GEX
$1K
positive gamma
Largest gamma by strike
- $290 $3K
- $270 -$2K
- $272.50 -$1K
- $285 $1K
- $310 $762
Since the previous session (Oct 8)
- Spot up 1.6% ($276.60 to $281.00)
- Call wall $275 to $290
- Put wall $272.50 to $270
- Net GEX $17K to $1K
Reviewed by the QuantWheel research team. Modeled from listed CME options data; not observed dealer inventory and not a forecast. Read how we compute CME GEX levels.
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Understanding CME gamma exposure
CME Group operates in financial exchanges and data, so its options may reflect earnings alongside changes in trading activity, market volatility, listings, and transaction volumes. Review the full CME strike profile, including both positive and negative modeled exposure, before interpreting the displayed walls.
New to the concept? Start with our guides to gamma in options and the options Greeks.
CME GEX methodology and limitations
QuantWheel calculates CME GEX from the selected expirations, available options data and the formula displayed in the calculator. The result summarizes modeled gamma exposure by strike.
GEX is a model output, not observed dealer inventory or a price forecast. Open interest does not identify who owns an option, and the displayed call wall, put wall and gamma flip can change when the inputs or selected expirations change.
CME GEX FAQ
What is CME GEX?
CME GEX estimates gamma exposure across listed CME options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. CME GEX does not reveal actual dealer positions or predict where CME will trade.
How do I read the CME call wall and put wall?
QuantWheel labels the CME call wall as the strike with the largest positive modeled GEX and the CME put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the CME price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the CME gamma flip?
The CME gamma flip is the price where modeled net gamma crosses zero for the selected CME options data. Compare it with the current price and the shape of the strike chart. The CME gamma flip is a model output, not a trading signal.
Which expirations should I use for CME GEX?
Start with the nearest CME expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which CME contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the CME GEX calculator free?
Yes. You can run up to three free CME GEX calculations per day on the public tool. After using those calculations, continue for free in the GEX demo. Check the current QuantWheel pricing page for plan access details.