PANW GEX - Live Gamma Exposure
Live PANW GEX levels for Palo Alto Networks, Inc.: net gamma exposure, call wall, put wall, and the gamma flip level — plus a free interactive PANW GEX chart.
The calculator below is pre-filled with PANW — hit search to compute the latest gamma exposure by strike from live options data. Prefer strikes and expirations in one view? Open the PANW 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 PANW gamma exposure
Palo Alto Networks is the largest pure-play cybersecurity options market, and its gamma exposure follows a clear quarterly rhythm. Security budgets are defensive spending, so the stock's fundamentals are steadier than most software names, but the market's willingness to pay for that steadiness swings hard - and PANW has a history of gapping on billings and platform-consolidation commentary rather than on revenue itself.
Between reports, PANW behaves like a well-mannered positive-gamma name: institutional overwriting supplies call gamma, the call wall caps the grind higher, and pins into monthly expiration are reasonably reliable. The gamma flip level earns attention in earnings weeks, when the report can move the stock across most of the strike range that carried open interest. Because cybersecurity is one of the sectors that holds up during risk-off periods, a negative-gamma PANW while the broad market is calm is unusual enough to be worth investigating.
New to the concept? Start with our guides to gamma in options and the options Greeks.
PANW GEX FAQ
What is PANW GEX (gamma exposure)?
PANW GEX measures the aggregate gamma that options market makers carry across all PANW strikes and expirations. When PANW 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 Palo Alto Networks, Inc. options chain.
What is the PANW call wall and put wall?
The PANW call wall is the strike with the largest positive gamma exposure and often acts as resistance, while the PANW 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 $300, the put wall is at $280, the gamma flip level is near $326.27.
What is the PANW gamma flip level?
The PANW 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 PANW volatility; below it, the same hedging amplifies moves in both directions. The latest computed flip level is near $326.27.
How often is PANW 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 PANW options chain data on demand. Open interest itself is published by OCC once daily before the open.
Is this PANW GEX chart free?
Yes. The PANW 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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