TQQQ GEX - Live Gamma Exposure
Live TQQQ GEX levels for ProShares UltraPro QQQ: net gamma exposure, call wall, put wall, and the gamma flip level — plus a free interactive TQQQ GEX chart.
The calculator below is pre-filled with TQQQ — hit search to compute the latest gamma exposure by strike from live options data. Prefer strikes and expirations in one view? Open the TQQQ 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 TQQQ gamma exposure
TQQQ is the most heavily traded leveraged ETF in the market and the retail expression of bullish Nasdaq conviction. Its options carry real size, and because the fund delivers three times the daily Nasdaq-100 return, its gamma exposure amplifies whatever is already happening in QQQ. Dealer hedging in TQQQ is therefore a second-order flow on top of QQQ's own hedging - small in dollar terms next to the index products, but concentrated enough in short-dated strikes to matter for the fund's own price action.
TQQQ's gamma profile is persistently call-tilted because the fund exists to be owned by bulls, and premium sellers overwriting those positions add to the call-side open interest. The call wall tends to cap the front-week grind higher, while the put wall builds only during genuine tech drawdowns. Read the gamma flip level as a leverage-appetite gauge: TQQQ crossing below flip usually means the retail momentum bid in tech has stepped away, which often shows up in QQQ a session or two later.
New to the concept? Start with our guides to gamma in options and the options Greeks.
TQQQ GEX FAQ
What is TQQQ GEX (gamma exposure)?
TQQQ GEX measures the aggregate gamma that options market makers carry across all TQQQ strikes and expirations. When TQQQ 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 ProShares UltraPro QQQ options chain.
What is the TQQQ call wall and put wall?
The TQQQ call wall is the strike with the largest positive gamma exposure and often acts as resistance, while the TQQQ 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 $64, the put wall is at $60, the gamma flip level is near $65.91.
What is the TQQQ gamma flip level?
The TQQQ 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 TQQQ volatility; below it, the same hedging amplifies moves in both directions. The latest computed flip level is near $65.91.
How often is TQQQ 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 TQQQ options chain data on demand. Open interest itself is published by OCC once daily before the open.
Is this TQQQ GEX chart free?
Yes. The TQQQ 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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