Free TLT GEX - TLT Gamma Exposure
Free TLT GEX maps gamma exposure by strike for long-duration US Treasury exposure. Select expirations around the interest rate event you are studying, then generate the chart to compare net GEX, call wall, put wall and gamma flip.
How to use the TLT GEX tool
Search TLT
TLT 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 TLT GEX workspace
Add TLT Heatmap, Max Pain and other GEX views to a custom multi-ticker workspace.
Open GEX WorkspaceWant to compare strikes across expirations? View the TLT GEX heatmap.
Understanding TLT gamma exposure
TLT's gamma regime is worth tracking because bond volatility and equity volatility interact: a negative-gamma TLT into a hot inflation print can spill over into equity index selling. The put wall in TLT frequently lines up with round-number price levels that correspond to psychologically important yield thresholds on the 20- and 30-year Treasury.
New to the concept? Start with our guides to gamma in options and the options Greeks.
TLT GEX methodology and limitations
QuantWheel calculates TLT 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.
TLT GEX FAQ
What is TLT GEX?
TLT GEX estimates gamma exposure across listed TLT options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. TLT GEX does not reveal actual dealer positions or predict where TLT will trade.
How do I read the TLT call wall and put wall?
QuantWheel labels the TLT call wall as the strike with the largest positive modeled GEX and the TLT put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the TLT price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the TLT gamma flip?
The TLT gamma flip is the price where modeled net gamma crosses zero for the selected TLT options data. Compare it with the current price and the shape of the strike chart. The TLT gamma flip is a model output, not a trading signal.
Which expirations should I use for TLT GEX?
Start with the nearest TLT expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which TLT contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the TLT GEX calculator free?
Yes. You can run up to three free TLT 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.