SLV GEX — Live Gamma Exposure
Live SLV GEX levels for iShares Silver Trust: net gamma exposure, call wall, put wall, and the gamma flip level — plus a free interactive SLV GEX chart.
The calculator below is pre-filled with SLV — hit search to compute the latest gamma exposure by strike from live options data. Prefer strikes and expirations in one view? Open the SLV GEX heatmap.
3 free calculations remaining today • Sign up for unlimited access
GEX Workspace
Multi-ticker dashboard with alerts
GEX Heatmap
Strike-level gamma by expiration
GEX Intraday PlayTape
Intraday gamma movement & replay
Max Pain Calculator
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 SLV gamma exposure
SLV options attract a distinctive mix of macro hedgers and aggressive retail speculators, and its gamma exposure profile can shift character fast. Silver's realized volatility routinely exceeds gold's, and SLV has a history of retail-driven call-buying waves that push gamma heavily to the call side — episodes where the ETF chases its own call wall upward for days.
Because SLV trades at a low nominal price with dollar-and-fifty-cent strike spacing, gamma concentrates into a handful of strikes near the money. The gamma flip level in SLV is a genuinely useful volatility signal: below it, silver's already-high volatility gets amplified by dealer hedging, producing the metal's characteristic air-pocket declines and vertical rallies.
New to the concept? Start with our guides to gamma in options and the options Greeks.
SLV GEX FAQ
What is SLV GEX (gamma exposure)?
SLV GEX measures the aggregate gamma that options market makers carry across all SLV strikes and expirations. When SLV 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 iShares Silver Trust options chain.
What is the SLV call wall and put wall?
The SLV call wall is the strike with the largest positive gamma exposure and often acts as resistance, while the SLV 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 $58, the put wall is at $55, the gamma flip level is near $52.43.
What is the SLV gamma flip level?
The SLV 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 SLV volatility; below it, the same hedging amplifies moves in both directions. The latest computed flip level is near $52.43.
How often is SLV 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 SLV options chain data on demand. Open interest itself is published by OCC once daily before the open.
Is this SLV GEX chart free?
Yes. The SLV 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 SLV GEX all day, automatically
The QuantWheel GEX Dashboard adds unlimited lookups, intraday gamma tracking, wall-movement alerts, and a multi-ticker workspace.
Open the GEX Dashboard