Free GS GEX - Goldman Sachs Gamma Exposure
Free GS GEX maps Goldman Sachs gamma exposure by strike. Choose expirations around markets activity, dealmaking or earnings, then generate the chart to compare net GEX, call wall, put wall and gamma flip.
How to use the GS GEX tool
Search GS
GS 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. Need more?
Continue for free in the GEX SandboxGEX Workspace
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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
Build your GS GEX workspace
Add GS Heatmap, Max Pain and other GEX views to a custom multi-ticker workspace.
Open GEX WorkspaceWant to compare strikes across expirations? View the GS GEX heatmap.
Understanding GS gamma exposure
Goldman is also the most cyclical of the large banks, with earnings tied to trading revenue, investment banking fees and deal flow rather than to net interest income. That makes GS gamma a read on capital-markets activity: positioning builds when the IPO and M&A pipeline is expected to reopen, and the call wall has repeatedly marked where those expectations got fully priced. Because the Dow is price-weighted and GS is one of its highest-priced components, large moves in this stock can also push DIA across its own gamma flip level.
New to the concept? Start with our guides to gamma in options and the options Greeks.
GS GEX methodology and limitations
QuantWheel calculates GS 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.
GS GEX FAQ
What is GS GEX?
GS GEX estimates gamma exposure across listed GS options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. GS GEX does not reveal actual dealer positions or predict where GS will trade.
How do I read the GS call wall and put wall?
QuantWheel labels the GS call wall as the strike with the largest positive modeled GEX and the GS put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the GS price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the GS gamma flip?
The GS gamma flip is the price where modeled net gamma crosses zero for the selected GS options data. Compare it with the current price and the shape of the strike chart. The GS gamma flip is a model output, not a trading signal.
Which expirations should I use for GS GEX?
Start with the nearest GS expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which GS contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the GS GEX calculator free?
Yes. You can run up to three free GS GEX calculations per day on the public tool. After using those calculations, continue for free in the GEX Sandbox. Check the current QuantWheel pricing page for plan access details.