CRWD GEX - Live Gamma Exposure
Live CRWD GEX levels for CrowdStrike Holdings, Inc.: net gamma exposure, call wall, put wall, and the gamma flip level — plus a free interactive CRWD GEX chart.
The calculator below is pre-filled with CRWD — hit search to compute the latest gamma exposure by strike from live options data. Prefer strikes and expirations in one view? Open the CRWD GEX heatmap.
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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
Understanding CRWD gamma exposure
CrowdStrike's options market prices a higher-variance outcome than its cybersecurity peers, for a specific reason: the July 2024 update failure that disrupted millions of Windows machines demonstrated that this company carries operational tail risk most software firms do not. Implied volatility has retained a premium since, and CRWD's gamma exposure reflects a market unwilling to be short volatility in size.
In normal conditions CRWD trades with heavy positive gamma, a firm call wall built from overwriting programs, and orderly pinning into expiration. What makes its GEX worth monitoring is the speed of the transition when something breaks - the stock has shown it can gap far enough in a session to invalidate every wall on the board. Read the gamma flip level as a gap-risk gauge rather than an intraday pivot, and give more weight than usual to put-side positioning building without an obvious catalyst.
New to the concept? Start with our guides to gamma in options and the options Greeks.
CRWD GEX FAQ
What is CRWD GEX (gamma exposure)?
CRWD GEX measures the aggregate gamma that options market makers carry across all CRWD strikes and expirations. When CRWD GEX is positive, dealer hedging dampens price moves (selling rallies, buying dips); when it is negative, hedging amplifies moves. It is calculated from open interest and each contract's gamma across the CrowdStrike Holdings, Inc. options chain.
What is the CRWD call wall and put wall?
The CRWD call wall is the strike with the largest positive gamma exposure and often acts as resistance, while the CRWD put wall is the strike with the largest negative gamma exposure and often acts as support. As of the latest snapshot, the call wall is at $205, the put wall is at $170, the gamma flip level is near $183.48.
What is the CRWD gamma flip level?
The CRWD gamma flip (zero-gamma) level is the price where net dealer gamma crosses from positive to negative. Above it, market-maker hedging tends to suppress CRWD volatility; below it, the same hedging amplifies moves in both directions. The latest computed flip level is near $183.48.
How often is CRWD GEX data updated?
GEX levels on this page are recomputed from live options data throughout US market hours, and the interactive calculator below pulls fresh CRWD options chain data on demand. Open interest itself is published by OCC once daily before the open.
Is this CRWD GEX chart free?
Yes. The CRWD GEX levels on this page are free, and the interactive GEX calculator offers free daily lookups without an account. Creating a free QuantWheel account raises the daily limit, and the GEX Dashboard adds unlimited access, intraday tracking, and alerts.
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