Free XLK GEX - XLK Gamma Exposure
Free XLK GEX maps gamma exposure by strike across technology-sector options. Choose expirations around large technology earnings or sector events, then generate the chart to compare net GEX, call wall, put wall and gamma flip.
How to use the XLK GEX tool
Search XLK
XLK 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 XLK GEX workspace
Add XLK Heatmap, Max Pain and other GEX views to a custom multi-ticker workspace.
Open GEX WorkspaceWant to compare strikes across expirations? View the XLK GEX heatmap.
Understanding XLK gamma exposure
XLK is the most concentrated of the major sector ETFs - AAPL, MSFT and NVDA together account for a very large share of its weight - so its gamma exposure is effectively a leveraged read on three companies. That concentration means XLK GEX often looks like a blend of the mega-cap gamma profiles rather than an independent signal, but the blend is useful: it shows where hedging demand sits for tech exposure as an asset class rather than as individual stock bets.
New to the concept? Start with our guides to gamma in options and the options Greeks.
XLK GEX methodology and limitations
QuantWheel calculates XLK 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.
XLK GEX FAQ
What is XLK GEX?
XLK GEX estimates gamma exposure across listed XLK options using option gamma and open interest. It helps you compare how modeled exposure is distributed by strike and expiration. XLK GEX does not reveal actual dealer positions or predict where XLK will trade.
How do I read the XLK call wall and put wall?
QuantWheel labels the XLK call wall as the strike with the largest positive modeled GEX and the XLK put wall as the strike with the largest negative modeled GEX in your selected data. Compare both with the XLK price and expiration choices. They are reference levels, not guaranteed support or resistance.
What is the XLK gamma flip?
The XLK gamma flip is the price where modeled net gamma crosses zero for the selected XLK options data. Compare it with the current price and the shape of the strike chart. The XLK gamma flip is a model output, not a trading signal.
Which expirations should I use for XLK GEX?
Start with the nearest XLK expiration to study short-dated positioning, then add later expirations to compare a broader part of the options chain. Each selection changes which XLK contracts are included, so compare one expiration with a combined view before drawing conclusions.
Is the XLK GEX calculator free?
Yes. You can run up to three free XLK 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.