QQQ GEX — Live Gamma Exposure
Live QQQ GEX levels for Invesco QQQ Trust: net gamma exposure, call wall, put wall, and the gamma flip level — plus a free interactive QQQ GEX chart.
The calculator below is pre-filled with QQQ — hit search to compute the latest gamma exposure by strike from live options data. Prefer strikes and expirations in one view? Open the QQQ GEX heatmap.
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Options pain strike by expiration
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 most negative GEX (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 QQQ gamma exposure
QQQ options are the liquid way to trade Nasdaq-100 gamma, and the ETF's heavy weighting toward mega-cap tech makes its GEX profile a tech-sentiment gauge. QQQ lists expirations every trading day, and 0DTE activity is intense. Because the underlying index is more volatile than the S&P 500, QQQ's gamma regime flips happen more often — and the transition from positive to negative gamma tends to produce sharper follow-through than in SPY.
Watch how the QQQ call wall interacts with strength in its largest components: when NVDA, AAPL and MSFT rally together, price can grind into the wall and pin there into expiration. The QQQ put wall is a common reference for dip buyers, since dealer hedging flows tend to slow declines into that strike. The gamma flip level matters most during earnings season, when single-stock moves in the top holdings can push the whole ETF across the line.
New to the concept? Start with our guides to gamma in options and the options Greeks.
QQQ GEX FAQ
What is QQQ GEX (gamma exposure)?
QQQ GEX measures the aggregate gamma that options market makers carry across all QQQ strikes and expirations. When QQQ 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 Invesco QQQ Trust options chain.
What is the QQQ call wall and put wall?
The QQQ call wall is the strike with the largest positive gamma exposure and often acts as resistance, while the QQQ 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 $735, the put wall is at $722, the gamma flip level is near $699.96.
What is the QQQ gamma flip level?
The QQQ 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 QQQ volatility; below it, the same hedging amplifies moves in both directions. The latest computed flip level is near $699.96.
How often is QQQ 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 QQQ options chain data on demand. Open interest itself is published by OCC once daily before the open.
Is this QQQ GEX chart free?
Yes. The QQQ 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.
Track QQQ GEX all day, automatically
The QuantWheel GEX Dashboard adds unlimited lookups, intraday gamma tracking, wall-movement alerts, and a multi-ticker workspace.
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