Free NRG GEX - Live NRG Energy Gamma Exposure
Free NRG GEX maps modeled gamma exposure across NRG Energy options. Select expirations to compare the call wall, put wall, gamma flip, and strike-level exposure around power demand, regulation, fuel costs, and interest rates.
How to use the NRG GEX tool
Search NRG
NRG 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
NRG GEX levels in detail
Data as of
Spot
$95.08
Call wall
$100
5.2% above spot
Put wall
$95
0.1% below spot
Gamma flip
$93.90
1.2% below spot
Net GEX
$27K
positive gamma
Largest gamma by strike
- $99 $19K
- $96 $15K
- $100 $15K
- $93 -$8K
- $95 -$8K
Since the previous session (Oct 29)
- Spot down 1.8% ($96.80 to $95.08)
- Call wall unchanged at $100
- Put wall unchanged at $95
- Net GEX $55K to $27K
Reviewed by the QuantWheel research team. Modeled from listed NRG options data; not observed dealer inventory and not a forecast. Read how we compute NRG GEX levels.
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Want to compare strikes across expirations? View the NRG GEX heatmap.
Understanding NRG gamma exposure
NRG provides options exposure to NRG Energy, which operates in independent power producers and energy traders. Earnings and shifts in power demand, regulation, fuel costs, and interest rates can change option pricing and open interest. The GEX chart shows how modeled exposure is distributed for the contracts and expirations you include.
The NRG call wall, put wall, and gamma flip depend on the contracts included in the calculation. Recompute the chart after changing expirations and compare the distribution around the current price. The output is positioning context rather than a forecast.
New to the concept? Start with our guides to gamma in options and the options Greeks.
NRG GEX methodology and limitations
QuantWheel calculates NRG 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.
NRG GEX FAQ
What is NRG GEX?
NRG GEX estimates gamma exposure across listed NRG options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. NRG GEX does not reveal actual dealer positions or predict where NRG will trade.
How do I read the NRG call wall and put wall?
QuantWheel labels the NRG call wall as the strike with the largest positive modeled GEX and the NRG put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the NRG price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the NRG gamma flip?
The NRG gamma flip is the price where modeled net gamma crosses zero for the selected NRG options data. Compare it with the current price and the shape of the strike chart. The NRG gamma flip is a model output, not a trading signal.
Which expirations should I use for NRG GEX?
Start with the nearest NRG expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which NRG contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the NRG GEX calculator free?
Yes. You can run up to three free NRG 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.