Free PANW GEX - Palo Alto Gamma Exposure
Free PANW GEX maps Palo Alto gamma exposure by strike. Select expirations around earnings, cybersecurity demand or platform updates, then generate the chart to compare net GEX, call wall, put wall and gamma flip.
How to use the PANW GEX tool
Search PANW
PANW 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 PANW GEX workspace
Add PANW Heatmap, Max Pain and other GEX views to a custom multi-ticker workspace.
Open GEX WorkspaceWant to compare strikes across expirations? View the PANW GEX heatmap.
Understanding PANW gamma exposure
Palo Alto Networks is the largest pure-play cybersecurity options market, and its gamma exposure follows a clear quarterly rhythm. Security budgets are defensive spending, so the stock's fundamentals are steadier than most software names, but the market's willingness to pay for that steadiness swings hard - and PANW has a history of gapping on billings and platform-consolidation commentary rather than on revenue itself.
PANW options can reprice around earnings, cybersecurity demand, and company guidance. Compare the modeled call wall, put wall, and gamma flip across expirations, especially when an event may change implied volatility and open interest. The levels summarize selected options data and do not establish a pin or cap.
New to the concept? Start with our guides to gamma in options and the options Greeks.
PANW GEX methodology and limitations
QuantWheel calculates PANW 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.
PANW GEX FAQ
What is PANW GEX?
PANW GEX estimates gamma exposure across listed PANW options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. PANW GEX does not reveal actual dealer positions or predict where PANW will trade.
How do I read the PANW call wall and put wall?
QuantWheel labels the PANW call wall as the strike with the largest positive modeled GEX and the PANW put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the PANW price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the PANW gamma flip?
The PANW gamma flip is the price where modeled net gamma crosses zero for the selected PANW options data. Compare it with the current price and the shape of the strike chart. The PANW gamma flip is a model output, not a trading signal.
Which expirations should I use for PANW GEX?
Start with the nearest PANW expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which PANW contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the PANW GEX calculator free?
Yes. You can run up to three free PANW 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.