Free SPX GEX - Live S&P 500 Gamma Exposure
Free SPX GEX shows modeled S&P 500 gamma exposure by strike, including net GEX, call wall, put wall and gamma flip. Select expirations and generate the chart to see where SPX options exposure is concentrated.
How to use the SPX GEX tool
Search SPX
SPX 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
SPX GEX levels in detail
Data as of
Spot
$7,802
Call wall
$7,850
0.6% above spot
Put wall
$7,750
0.7% below spot
Gamma flip
$7,625
2.3% below spot
Net GEX
$45K
positive gamma
Largest gamma by strike
- $7,850 $8K
- $7,830 $7K
- $7,825 $4K
- $7,805 $4K
- $7,870 $4K
Since the previous session (Oct 6)
- Spot down 0.2% ($7,819 to $7,802)
- Call wall $7,820 to $7,850
- Put wall $7,800 to $7,750
- Net GEX $167K to $45K
Reviewed by the QuantWheel research team. Modeled from listed SPX options data; not observed dealer inventory and not a forecast. Read how we compute SPX GEX levels.
Continue with SPX options analysis
Try the GEX tools on sample tickers. No account needed.
$1 for 7 days • Cancel anytime • 14-day money-back guarantee
Want to compare strikes across expirations? View the SPX GEX heatmap.
Understanding SPX gamma exposure
The SPX chart organizes QuantWheel's modeled S&P 500 gamma exposure by strike. Compare positive and negative bars across the selected expirations before interpreting the call wall, put wall or gamma flip.
Use the SPX profile to identify where the selected model is concentrated and how it changes when expirations change. The result describes the options data included in the calculation and is not a forecast or standalone trading signal.
New to the concept? Start with our guides to gamma in options and the options Greeks.
SPX GEX methodology and limitations
QuantWheel calculates SPX 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.
SPX GEX FAQ
What is SPX GEX?
SPX GEX estimates gamma exposure across listed SPX options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. SPX GEX does not reveal actual dealer positions or predict where SPX will trade.
How do I read the SPX call wall and put wall?
QuantWheel labels the SPX call wall as the strike with the largest positive modeled GEX and the SPX put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the SPX price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the SPX gamma flip?
The SPX gamma flip is the price where modeled net gamma crosses zero for the selected SPX options data. Compare it with the current price and the shape of the strike chart. The SPX gamma flip is a model output, not a trading signal.
Which expirations should I use for SPX GEX?
Start with the nearest SPX expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which SPX contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the SPX GEX calculator free?
Yes. You can run up to three free SPX 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.