Free SNOW GEX - Snowflake Gamma Exposure
Free SNOW GEX maps Snowflake gamma exposure by strike. Select expirations around earnings, cloud data consumption or company events, then generate the chart to compare net GEX, call wall, put wall and gamma flip.
How to use the SNOW GEX tool
Search SNOW
SNOW 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 SNOW GEX workspace
Add SNOW Heatmap, Max Pain and other GEX views to a custom multi-ticker workspace.
Open GEX WorkspaceWant to compare strikes across expirations? View the SNOW GEX heatmap.
Understanding SNOW gamma exposure
Snowflake's consumption-based pricing model makes its quarterly results genuinely hard to forecast - revenue depends on how much customers actually query, not on contracted seats - and the options market handles that uncertainty by keeping implied volatility elevated year-round. SNOW gamma exposure builds heavily into each report, and product-revenue guidance has repeatedly gapped the stock by double digits in either direction.
That gap history shapes how the levels behave. SNOW's call wall and put wall are respected during the quiet weeks between reports, when positive gamma and premium selling keep the stock range-bound, but they carry little authority through an earnings event - the whole gamma profile resets. The gamma flip level is most useful in the days immediately after a report, as a filter on whether the post-earnings move will extend: SNOW holding above flip after a gap up has been a reasonable continuation signal.
New to the concept? Start with our guides to gamma in options and the options Greeks.
SNOW GEX methodology and limitations
QuantWheel calculates SNOW 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.
SNOW GEX FAQ
What is SNOW GEX?
SNOW GEX estimates gamma exposure across listed SNOW options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. SNOW GEX does not reveal actual dealer positions or predict where SNOW will trade.
How do I read the SNOW call wall and put wall?
QuantWheel labels the SNOW call wall as the strike with the largest positive modeled GEX and the SNOW put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the SNOW price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the SNOW gamma flip?
The SNOW gamma flip is the price where modeled net gamma crosses zero for the selected SNOW options data. Compare it with the current price and the shape of the strike chart. The SNOW gamma flip is a model output, not a trading signal.
Which expirations should I use for SNOW GEX?
Start with the nearest SNOW expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which SNOW contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the SNOW GEX calculator free?
Yes. You can run up to three free SNOW 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.