Free UPST GEX - Upstart Gamma Exposure
Free UPST GEX maps Upstart gamma exposure by strike. Select expirations around credit conditions, interest rates or earnings, then generate the chart to compare net GEX, call wall, put wall and gamma flip.
How to use the UPST GEX tool
Search UPST
UPST 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 UPST GEX workspace
Add UPST Heatmap, Max Pain and other GEX views to a custom multi-ticker workspace.
Open GEX WorkspaceWant to compare strikes across expirations? View the UPST GEX heatmap.
Understanding UPST gamma exposure
Upstart uses machine learning to underwrite consumer loans, which makes it simultaneously an AI story and a credit-cycle story - and its options market prices both. That dual exposure produces one of the higher implied volatilities among mid-cap fintech names, and UPST's gamma exposure builds heavily into quarterly reports where loan origination volume and the willingness of funding partners to buy the loans are the numbers that move it.
New to the concept? Start with our guides to gamma in options and the options Greeks.
UPST GEX methodology and limitations
QuantWheel calculates UPST 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.
UPST GEX FAQ
What is UPST GEX?
UPST GEX estimates gamma exposure across listed UPST options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. UPST GEX does not reveal actual dealer positions or predict where UPST will trade.
How do I read the UPST call wall and put wall?
QuantWheel labels the UPST call wall as the strike with the largest positive modeled GEX and the UPST put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the UPST price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the UPST gamma flip?
The UPST gamma flip is the price where modeled net gamma crosses zero for the selected UPST options data. Compare it with the current price and the shape of the strike chart. The UPST gamma flip is a model output, not a trading signal.
Which expirations should I use for UPST GEX?
Start with the nearest UPST expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which UPST contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the UPST GEX calculator free?
Yes. You can run up to three free UPST 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.