Free PNW GEX - Live Pinnacle West Capital Gamma Exposure
Review free PNW GEX for Pinnacle West Capital by selecting the expirations you want to study. The chart compares modeled net GEX, call wall, put wall, gamma flip, and strike concentrations related to power demand, regulation, fuel costs, and interest rates.
How to use the PNW GEX tool
Search PNW
PNW 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. Need more?
Continue for free in the GEX demoWhat 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
PNW GEX levels in detail
Data as of
Spot
$91.74
Call wall
$95
3.6% above spot
Put wall
$95
3.6% above spot
Gamma flip
$87.03
5.1% below spot
Net GEX
$2K
positive gamma
Largest gamma by strike
- $105 $2K
- $95 $1K
- $90 -$930
- $85 -$467
- $100 $445
Since the previous session (Sep 24)
- Spot up 0.7% ($91.08 to $91.74)
- Call wall unchanged at $95
- Put wall $90 to $95
- Net GEX $2K to $2K
Reviewed by the QuantWheel research team. Modeled from listed PNW options data; not observed dealer inventory and not a forecast. Read how we compute PNW GEX levels.
Build your PNW GEX workspace
Add PNW Heatmap, Max Pain and other GEX views to a custom multi-ticker workspace.
Understanding PNW gamma exposure
Pinnacle West Capital operates in multi-utilities, so its options may reflect earnings alongside changes in power demand, regulation, fuel costs, and interest rates. Review the full PNW strike profile, including both positive and negative modeled exposure, before interpreting the displayed walls.
New to the concept? Start with our guides to gamma in options and the options Greeks.
PNW GEX methodology and limitations
QuantWheel calculates PNW 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.
PNW GEX FAQ
What is PNW GEX?
PNW GEX estimates gamma exposure across listed PNW options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. PNW GEX does not reveal actual dealer positions or predict where PNW will trade.
How do I read the PNW call wall and put wall?
QuantWheel labels the PNW call wall as the strike with the largest positive modeled GEX and the PNW put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the PNW price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the PNW gamma flip?
The PNW gamma flip is the price where modeled net gamma crosses zero for the selected PNW options data. Compare it with the current price and the shape of the strike chart. The PNW gamma flip is a model output, not a trading signal.
Which expirations should I use for PNW GEX?
Start with the nearest PNW expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which PNW contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the PNW GEX calculator free?
Yes. You can run up to three free PNW 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.