UPST GEX - Live Gamma Exposure
Live UPST GEX levels for Upstart Holdings, Inc.: net gamma exposure, call wall, put wall, and the gamma flip level — plus a free interactive UPST GEX chart.
The calculator below is pre-filled with UPST — hit search to compute the latest gamma exposure by strike from live options data. Prefer strikes and expirations in one view? Open the UPST 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 UPST gamma exposure
Upstart uses machine learning to underwrite consumer loans, which makes it simultaneously an AI story and a credit-cycle story - and its options market prices both. That dual exposure produces one of the higher implied volatilities among mid-cap fintech names, and UPST's gamma exposure builds heavily into quarterly reports where loan origination volume and the willingness of funding partners to buy the loans are the numbers that move it.
The stock has a well-documented history of double-digit single-session moves in both directions, which keeps dealers reluctant to carry short-gamma inventory and gives the walls less authority through earnings than they have between reports. Retail participation is meaningful, so call-side gamma ladders during risk-on phases. The gamma flip level is most useful as a credit-sentiment filter: UPST losing flip has repeatedly coincided with the market turning cautious on consumer credit generally rather than on Upstart's model specifically.
New to the concept? Start with our guides to gamma in options and the options Greeks.
UPST GEX FAQ
What is UPST GEX (gamma exposure)?
UPST GEX measures the aggregate gamma that options market makers carry across all UPST strikes and expirations. When UPST 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 Upstart Holdings, Inc. options chain.
What is the UPST call wall and put wall?
The UPST call wall is the strike with the largest positive gamma exposure and often acts as resistance, while the UPST 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 $30, the put wall is at $27, the gamma flip level is near $28.27.
What is the UPST gamma flip level?
The UPST 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 UPST volatility; below it, the same hedging amplifies moves in both directions. The latest computed flip level is near $28.27.
How often is UPST 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 UPST options chain data on demand. Open interest itself is published by OCC once daily before the open.
Is this UPST GEX chart free?
Yes. The UPST 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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