CVX GEX - Live Gamma Exposure
Live CVX GEX levels for Chevron Corporation: net gamma exposure, call wall, put wall, and the gamma flip level — plus a free interactive CVX GEX chart.
The calculator below is pre-filled with CVX — hit search to compute the latest gamma exposure by strike from live options data. Prefer strikes and expirations in one view? Open the CVX 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 CVX gamma exposure
Chevron's gamma exposure profile closely resembles Exxon's - heavy covered-call flow, structurally positive gamma, walls that cap rather than get chased - but its chain is smaller, which makes its levels marginally less authoritative and its walls somewhat easier to overrun during sharp crude moves. Reading the two together is more useful than reading either alone, because divergence between them usually reflects something project-specific rather than a change in the oil outlook.
Chevron's exposure to specific assets and jurisdictions gives it more idiosyncratic risk than Exxon carries, and that shows up as occasional put-side gamma building on headlines that leave XOM untouched. Otherwise the mechanics are conventional: gamma concentrates at $5 strike intervals, income-focused holders anchor the put wall at round numbers tied to dividend-yield thresholds, and the stock is a reliable pin candidate into monthly expiration when crude is range-bound.
New to the concept? Start with our guides to gamma in options and the options Greeks.
CVX GEX FAQ
What is CVX GEX (gamma exposure)?
CVX GEX measures the aggregate gamma that options market makers carry across all CVX strikes and expirations. When CVX 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 Chevron Corporation options chain.
What is the CVX call wall and put wall?
The CVX call wall is the strike with the largest positive gamma exposure and often acts as resistance, while the CVX 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 $170.00.
What is the CVX gamma flip level?
The CVX 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 CVX volatility; below it, the same hedging amplifies moves in both directions. The latest computed flip level is near $170.00.
How often is CVX 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 CVX options chain data on demand. Open interest itself is published by OCC once daily before the open.
Is this CVX GEX chart free?
Yes. The CVX 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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