SIRI GEX - Live Gamma Exposure
Live SIRI GEX levels for Sirius XM Holdings Inc.: net gamma exposure, call wall, put wall, and the gamma flip level — plus a free interactive SIRI GEX chart.
The calculator below is pre-filled with SIRI — hit search to compute the latest gamma exposure by strike from live options data. Prefer strikes and expirations in one view? Open the SIRI 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 SIRI gamma exposure
Sirius XM is an unusual gamma market because its share structure has been unusual: the 2024 Liberty Media split-off and subsequent reverse split reset both the share count and the options chain, and open interest has rebuilt from a much lower base. Long-run comparisons of its gamma profile are therefore misleading, and the levels worth trusting are the ones that have formed since the recapitalization.
What the current chain shows is a high-dividend, low-growth business with a concentrated shareholder base, and gamma that behaves accordingly: heavily call-tilted from income overwriting, tightly bunched around spot given the modest share price, and rarely tested in either direction. The put wall anchors at levels tied to dividend-yield thresholds. Because subscriber attrition is the central fundamental question, the gamma flip level is most informative in earnings weeks, when net-additions figures can move the stock more than its low implied volatility suggests.
New to the concept? Start with our guides to gamma in options and the options Greeks.
SIRI GEX FAQ
What is SIRI GEX (gamma exposure)?
SIRI GEX measures the aggregate gamma that options market makers carry across all SIRI strikes and expirations. When SIRI 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 Sirius XM Holdings Inc. options chain.
What is the SIRI call wall and put wall?
The SIRI call wall is the strike with the largest positive gamma exposure and often acts as resistance, while the SIRI 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 $31, the put wall is at $30.50, the gamma flip level is near $25.55.
What is the SIRI gamma flip level?
The SIRI 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 SIRI volatility; below it, the same hedging amplifies moves in both directions. The latest computed flip level is near $25.55.
How often is SIRI 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 SIRI options chain data on demand. Open interest itself is published by OCC once daily before the open.
Is this SIRI GEX chart free?
Yes. The SIRI 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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