Free LUV GEX - Live Southwest Airlines Gamma Exposure
Use free LUV GEX to compare modeled gamma exposure by strike for Southwest Airlines. Choose one or more expirations, then review the call wall, put wall, gamma flip, and exposure in the context of travel demand, fares, fuel costs, and capacity.
How to use the LUV GEX tool
Search LUV
LUV 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
LUV GEX levels in detail
Data as of
Spot
$42.03
Call wall
$42
0.1% below spot
Put wall
$41
2.5% below spot
Gamma flip
$40.59
3.4% below spot
Net GEX
$97K
positive gamma
Largest gamma by strike
- $40 -$44K
- $43 $29K
- $47.50 $28K
- $42.50 $23K
- $45 $20K
Since the previous session (Oct 21)
- Spot up 5.3% ($39.92 to $42.03)
- Call wall unchanged at $42
- Put wall unchanged at $41
- Net GEX $10K to $97K
Reviewed by the QuantWheel research team. Modeled from listed LUV options data; not observed dealer inventory and not a forecast. Read how we compute LUV GEX levels.
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Understanding LUV gamma exposure
The LUV options chain represents Southwest Airlines and its exposure to travel demand, fares, fuel costs, and capacity. Its GICS classification is Passenger Airlines. Use the chart to identify where modeled exposure is concentrated and whether that concentration is consistent across expiration choices.
New to the concept? Start with our guides to gamma in options and the options Greeks.
LUV GEX methodology and limitations
QuantWheel calculates LUV 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.
LUV GEX FAQ
What is LUV GEX?
LUV GEX estimates gamma exposure across listed LUV options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. LUV GEX does not reveal actual dealer positions or predict where LUV will trade.
How do I read the LUV call wall and put wall?
QuantWheel labels the LUV call wall as the strike with the largest positive modeled GEX and the LUV put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the LUV price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the LUV gamma flip?
The LUV gamma flip is the price where modeled net gamma crosses zero for the selected LUV options data. Compare it with the current price and the shape of the strike chart. The LUV gamma flip is a model output, not a trading signal.
Which expirations should I use for LUV GEX?
Start with the nearest LUV expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which LUV contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the LUV GEX calculator free?
Yes. You can run up to three free LUV 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.