XLK GEX - Live Gamma Exposure
Live XLK GEX levels for Technology Select Sector SPDR Fund: net gamma exposure, call wall, put wall, and the gamma flip level — plus a free interactive XLK GEX chart.
The calculator below is pre-filled with XLK — hit search to compute the latest gamma exposure by strike from live options data. Prefer strikes and expirations in one view? Open the XLK 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 XLK gamma exposure
XLK is the most concentrated of the major sector ETFs - AAPL, MSFT and NVDA together account for a very large share of its weight - so its gamma exposure is effectively a leveraged read on three companies. That concentration means XLK GEX often looks like a blend of the mega-cap gamma profiles rather than an independent signal, but the blend is useful: it shows where hedging demand sits for tech exposure as an asset class rather than as individual stock bets.
XLK's options chain is deep enough that its call wall and put wall are meaningful levels, and because the ETF is a favorite vehicle for institutional sector overweights and underweights, its put wall frequently marks where large allocators have chosen to hedge. The gamma flip level is worth watching in the days around mega-cap earnings, when a single report from Apple or Microsoft can shift the whole ETF across the line and change how dealer hedging behaves for the rest of the sector.
New to the concept? Start with our guides to gamma in options and the options Greeks.
XLK GEX FAQ
What is XLK GEX (gamma exposure)?
XLK GEX measures the aggregate gamma that options market makers carry across all XLK strikes and expirations. When XLK 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 Technology Select Sector SPDR Fund options chain.
What is the XLK call wall and put wall?
The XLK call wall is the strike with the largest positive gamma exposure and often acts as resistance, while the XLK 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 $175, the put wall is at $170, the gamma flip level is near $177.42.
What is the XLK gamma flip level?
The XLK 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 XLK volatility; below it, the same hedging amplifies moves in both directions. The latest computed flip level is near $177.42.
How often is XLK 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 XLK options chain data on demand. Open interest itself is published by OCC once daily before the open.
Is this XLK GEX chart free?
Yes. The XLK 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 XLK GEX all day, automatically
The QuantWheel GEX Dashboard adds unlimited lookups, intraday gamma tracking, wall-movement alerts, and a multi-ticker workspace.
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