Free IBIT GEX - IBIT Gamma Exposure
Free IBIT GEX maps gamma exposure by strike across Bitcoin-linked options. Choose the expirations you want to study, then generate the chart to compare net GEX, call wall, put wall and gamma flip.
How to use the IBIT GEX tool
Search IBIT
IBIT 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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Intraday gamma movement & replay
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Options pain strike by expiration
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 IBIT GEX workspace
Add IBIT Heatmap, Max Pain and other GEX views to a custom multi-ticker workspace.
Open GEX WorkspaceWant to compare strikes across expirations? View the IBIT GEX heatmap.
Understanding IBIT gamma exposure
IBIT options provide listed-options exposure tied to a spot Bitcoin fund. Bitcoin trades outside US equity-market hours, while IBIT options trade during exchange sessions, so positioning can adjust when the market opens. Use IBIT GEX to compare modeled strike concentrations without treating them as a forecast for Bitcoin.
New to the concept? Start with our guides to gamma in options and the options Greeks.
IBIT GEX methodology and limitations
QuantWheel calculates IBIT 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.
IBIT GEX FAQ
What is IBIT GEX?
IBIT GEX estimates gamma exposure across listed IBIT options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. IBIT GEX does not reveal actual dealer positions or predict where IBIT will trade.
How do I read the IBIT call wall and put wall?
QuantWheel labels the IBIT call wall as the strike with the largest positive modeled GEX and the IBIT put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the IBIT price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the IBIT gamma flip?
The IBIT gamma flip is the price where modeled net gamma crosses zero for the selected IBIT options data. Compare it with the current price and the shape of the strike chart. The IBIT gamma flip is a model output, not a trading signal.
Which expirations should I use for IBIT GEX?
Start with the nearest IBIT expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which IBIT contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the IBIT GEX calculator free?
Yes. You can run up to three free IBIT 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.