Free UVXY GEX - UVXY Gamma Exposure
Free UVXY GEX maps gamma exposure by strike for leveraged short-term volatility futures exposure. Select expirations around the volatility period you are studying, then generate the chart to compare net GEX, call wall, put wall and gamma flip.
How to use the UVXY GEX tool
Search UVXY
UVXY 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
Multi-ticker dashboard with alerts
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Intraday gamma movement & replay
Max Pain Calculator
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 UVXY GEX workspace
Add UVXY Heatmap, Max Pain and other GEX views to a custom multi-ticker workspace.
Open GEX WorkspaceWant to compare strikes across expirations? View the UVXY GEX heatmap.
Understanding UVXY gamma exposure
UVXY holds leveraged short-term VIX futures, making it the closest thing to a tradable long-volatility instrument with a standard equity options chain. Its gamma exposure is unlike any equity name: the fund grinds relentlessly lower in calm markets because of roll costs and leverage decay, then explodes higher during volatility spikes. Options positioning reflects that asymmetry, with call open interest bought as crash insurance and put open interest sold to harvest the structural decay.
New to the concept? Start with our guides to gamma in options and the options Greeks.
UVXY GEX methodology and limitations
QuantWheel calculates UVXY 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.
UVXY GEX FAQ
What is UVXY GEX?
UVXY GEX estimates gamma exposure across listed UVXY options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. UVXY GEX does not reveal actual dealer positions or predict where UVXY will trade.
How do I read the UVXY call wall and put wall?
QuantWheel labels the UVXY call wall as the strike with the largest positive modeled GEX and the UVXY put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the UVXY price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the UVXY gamma flip?
The UVXY gamma flip is the price where modeled net gamma crosses zero for the selected UVXY options data. Compare it with the current price and the shape of the strike chart. The UVXY gamma flip is a model output, not a trading signal.
Which expirations should I use for UVXY GEX?
Start with the nearest UVXY expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which UVXY contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the UVXY GEX calculator free?
Yes. You can run up to three free UVXY 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.