Free PSX GEX - Live Phillips 66 Gamma Exposure
Free PSX GEX maps modeled gamma exposure across Phillips 66 options. Select expirations to compare the call wall, put wall, gamma flip, and strike-level exposure around oil and gas prices, production, capital spending, and energy demand.
How to use the PSX GEX tool
Search PSX
PSX 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
PSX GEX levels in detail
Data as of
Spot
$252.86
Call wall
$275
8.8% above spot
Put wall
$255
0.8% above spot
Gamma flip
$257.21
1.7% above spot
Net GEX
-$2K
negative gamma
Largest gamma by strike
- $245 -$942
- $260 $775
- $240 -$532
- $210 -$512
- $235 -$496
Since the previous session (Nov 6)
- Spot up 2.6% ($246.56 to $252.86)
- Call wall unchanged at $275
- Put wall $235 to $255
- Net GEX -$4K to -$2K
Reviewed by the QuantWheel research team. Modeled from listed PSX options data; not observed dealer inventory and not a forecast. Read how we compute PSX GEX levels.
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Want to compare strikes across expirations? View the PSX GEX heatmap.
Understanding PSX gamma exposure
The PSX options chain represents Phillips 66 and its exposure to oil and gas prices, production, capital spending, and energy demand. Its GICS classification is Oil and Gas Refining and Marketing. Use the chart to identify where modeled exposure is concentrated and whether that concentration is consistent across expiration choices.
New to the concept? Start with our guides to gamma in options and the options Greeks.
PSX GEX methodology and limitations
QuantWheel calculates PSX 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.
PSX GEX FAQ
What is PSX GEX?
PSX GEX estimates gamma exposure across listed PSX options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. PSX GEX does not reveal actual dealer positions or predict where PSX will trade.
How do I read the PSX call wall and put wall?
QuantWheel labels the PSX call wall as the strike with the largest positive modeled GEX and the PSX put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the PSX price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the PSX gamma flip?
The PSX gamma flip is the price where modeled net gamma crosses zero for the selected PSX options data. Compare it with the current price and the shape of the strike chart. The PSX gamma flip is a model output, not a trading signal.
Which expirations should I use for PSX GEX?
Start with the nearest PSX expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which PSX contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the PSX GEX calculator free?
Yes. You can run up to three free PSX 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.