Free NI GEX - Live NiSource Gamma Exposure
Free NI GEX helps you examine modeled NiSource gamma exposure by strike. Select one or more expirations to compare net GEX, the call wall, the put wall, and the gamma flip around power demand, regulation, fuel costs, and interest rates.
How to use the NI GEX tool
Search NI
NI 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
NI GEX levels in detail
Data as of
Spot
$40.80
Call wall
$40
1.9% below spot
Put wall
$40
1.9% below spot
Gamma flip
$37.40
8.3% below spot
Net GEX
$10K
positive gamma
Largest gamma by strike
- $45 $5K
- $40 $5K
- $50 $382
- $55 $96
- $35 -$64
Since the previous session (Oct 6)
- Spot up 0.3% ($40.67 to $40.80)
- Call wall unchanged at $40
- Put wall unchanged at $40
- Net GEX $8K to $10K
Reviewed by the QuantWheel research team. Modeled from listed NI options data; not observed dealer inventory and not a forecast. Read how we compute NI GEX levels.
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Want to compare strikes across expirations? View the NI GEX heatmap.
Understanding NI gamma exposure
For NiSource, the relevant business context includes power demand, regulation, fuel costs, and interest rates. The company is part of the Multi-Utilities group. Use NI 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.
NI GEX methodology and limitations
QuantWheel calculates NI 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.
NI GEX FAQ
What is NI GEX?
NI GEX estimates gamma exposure across listed NI options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. NI GEX does not reveal actual dealer positions or predict where NI will trade.
How do I read the NI call wall and put wall?
QuantWheel labels the NI call wall as the strike with the largest positive modeled GEX and the NI put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the NI price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the NI gamma flip?
The NI gamma flip is the price where modeled net gamma crosses zero for the selected NI options data. Compare it with the current price and the shape of the strike chart. The NI gamma flip is a model output, not a trading signal.
Which expirations should I use for NI GEX?
Start with the nearest NI expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which NI contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the NI GEX calculator free?
Yes. You can run up to three free NI 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.