OPEN GEX - Live Gamma Exposure
Live OPEN GEX levels for Opendoor Technologies Inc.: net gamma exposure, call wall, put wall, and the gamma flip level — plus a free interactive OPEN GEX chart.
The calculator below is pre-filled with OPEN — hit search to compute the latest gamma exposure by strike from live options data. Prefer strikes and expirations in one view? Open the OPEN 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 OPEN gamma exposure
Opendoor buys homes directly, holds inventory and resells it, which makes it one of the most rate-and-housing-sensitive equities with a liquid options chain. Its gamma exposure reflects both that macro leverage and a substantial retail following: the share price is low, weekly calls are cheap, and speculative positioning arrives in bursts on mortgage-rate headlines and housing data.
The business model itself creates the volatility that the options market prices. Holding real estate inventory in a falling market compresses margins fast, so OPEN's downside episodes are severe and its gamma regime deteriorates quickly. Conversely, rate-cut expectations have repeatedly triggered call-buying waves that stack gamma above spot in ladders. Because the chain is small relative to the flow it attracts, dealer hedging is a real contributor to the moves - the call wall functions as a squeeze target rather than resistance.
New to the concept? Start with our guides to gamma in options and the options Greeks.
OPEN GEX FAQ
What is OPEN GEX (gamma exposure)?
OPEN GEX measures the aggregate gamma that options market makers carry across all OPEN strikes and expirations. When OPEN 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 Opendoor Technologies Inc. options chain.
What is the OPEN call wall and put wall?
The OPEN call wall is the strike with the largest positive gamma exposure and often acts as resistance, while the OPEN 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 $5, the put wall is at $3, the gamma flip level is near $3.59.
What is the OPEN gamma flip level?
The OPEN 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 OPEN volatility; below it, the same hedging amplifies moves in both directions. The latest computed flip level is near $3.59.
How often is OPEN 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 OPEN options chain data on demand. Open interest itself is published by OCC once daily before the open.
Is this OPEN GEX chart free?
Yes. The OPEN 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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