Free COP GEX - Live ConocoPhillips Gamma Exposure
Free COP GEX shows where modeled gamma exposure is concentrated in ConocoPhillips options. Change expirations to compare the call wall, put wall, gamma flip, and strike profile around oil and gas prices, production, capital spending, and energy demand.
How to use the COP GEX tool
Search COP
COP 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. Need more?
Continue for free in the GEX demoWhat 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
COP GEX levels in detail
Data as of
Spot
$126.03
Call wall
$120
4.8% below spot
Put wall
$125
0.8% below spot
Gamma flip
$133.28
5.8% above spot
Net GEX
$423
positive gamma
Largest gamma by strike
- $128 -$6K
- $135 $5K
- $140 $5K
- $120 $4K
- $124 -$3K
Since the previous session (Sep 21)
- Spot down 1.4% ($127.88 to $126.03)
- Call wall unchanged at $120
- Put wall unchanged at $125
- Net GEX $6K to $423
Reviewed by the QuantWheel research team. Modeled from listed COP options data; not observed dealer inventory and not a forecast. Read how we compute COP GEX levels.
Build your COP GEX workspace
Add COP Heatmap, Max Pain and other GEX views to a custom multi-ticker workspace.
Want to compare strikes across expirations? View the COP GEX heatmap.
Understanding COP gamma exposure
For ConocoPhillips, the relevant business context includes oil and gas prices, production, capital spending, and energy demand. The company is part of the Oil and Gas Exploration and Production group. Use COP GEX to compare strike concentrations and check whether the modeled profile changes when you add or remove expirations.
New to the concept? Start with our guides to gamma in options and the options Greeks.
COP GEX methodology and limitations
QuantWheel calculates COP 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.
COP GEX FAQ
What is COP GEX?
COP GEX estimates gamma exposure across listed COP options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. COP GEX does not reveal actual dealer positions or predict where COP will trade.
How do I read the COP call wall and put wall?
QuantWheel labels the COP call wall as the strike with the largest positive modeled GEX and the COP put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the COP price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the COP gamma flip?
The COP gamma flip is the price where modeled net gamma crosses zero for the selected COP options data. Compare it with the current price and the shape of the strike chart. The COP gamma flip is a model output, not a trading signal.
Which expirations should I use for COP GEX?
Start with the nearest COP expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which COP contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the COP GEX calculator free?
Yes. You can run up to three free COP 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.