Free STE GEX - Live Steris Gamma Exposure
Explore free STE GEX for Steris across the expirations you select. Use the strike chart to compare modeled net exposure, call and put walls, and the gamma flip in the context of procedure volumes, product demand, approvals, and hospital spending.
How to use the STE GEX tool
Search STE
STE 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
STE GEX levels in detail
Data as of
Spot
$222.41
Call wall
$220
1.1% below spot
Put wall
$210
5.6% below spot
Gamma flip
$213.85
3.9% below spot
Net GEX
$4K
positive gamma
Largest gamma by strike
- $220 $5K
- $210 -$881
- $230 $785
- $250 $15
- $200 $4
Since the previous session (Oct 15)
- Spot down 0.9% ($224.33 to $222.41)
- Call wall $230 to $220
- Put wall unchanged at $210
- Net GEX $76 to $4K
Reviewed by the QuantWheel research team. Modeled from listed STE options data; not observed dealer inventory and not a forecast. Read how we compute STE GEX levels.
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Want to compare strikes across expirations? View the STE GEX heatmap.
Understanding STE gamma exposure
Steris operates in health care equipment, so its options may reflect earnings alongside changes in procedure volumes, product demand, approvals, and hospital spending. Review the full STE strike profile, including both positive and negative modeled exposure, before interpreting the displayed walls.
The STE call wall, put wall, and gamma flip depend on the contracts included in the calculation. Recompute the chart after changing expirations and compare the distribution around the current price. The output is positioning context rather than a forecast.
New to the concept? Start with our guides to gamma in options and the options Greeks.
STE GEX methodology and limitations
QuantWheel calculates STE 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.
STE GEX FAQ
What is STE GEX?
STE GEX estimates gamma exposure across listed STE options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. STE GEX does not reveal actual dealer positions or predict where STE will trade.
How do I read the STE call wall and put wall?
QuantWheel labels the STE call wall as the strike with the largest positive modeled GEX and the STE put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the STE price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the STE gamma flip?
The STE gamma flip is the price where modeled net gamma crosses zero for the selected STE options data. Compare it with the current price and the shape of the strike chart. The STE gamma flip is a model output, not a trading signal.
Which expirations should I use for STE GEX?
Start with the nearest STE expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which STE contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the STE GEX calculator free?
Yes. You can run up to three free STE 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.