What is GEX (gamma exposure)?

Gamma measures how much an option's delta changes when the underlying price moves. Gamma exposure (GEX) is an estimate of the total gamma held by options market makers (dealers) across strikes, usually expressed in dollars per 1% move.

The idea behind GEX dashboards: dealers who are short options often hedge with the underlying. Depending on whether their aggregate gamma is estimated positive or negative, that hedging may dampen or amplify moves. Vendors then mark levels such as the strike with the largest gamma ("call wall", "put wall") or the price where net gamma flips sign ("gamma flip" / "zero gamma").

Important caveats: GEX is a model estimate. Vendors must assume who is long and short each contract, and methods differ, so two tools can show different levels for the same ticker. Some tools add other greeks such as vanna and charm. Nothing here is a trading signal or investment advice.

Tools that chart GEX

• Gextool (GEX) – Free; ~15 min (CBOE delayed), snapshots every 15 min
• GammaGrid – Free; unknown
• SquawkFlow – Free; 10 min delayed
• GEX Metrix – Free · paid from $19/mo; Delayed (free)
• Unusual Whales – Free · paid from $42/mo; Real-time on paid plans
• SpotGamma – from $45/mo; unknown
• BlackBoxStocks – from $59/mo; Real-time
• Quant Data – from $62.50/mo; Real-time
• Tradytics – from $69/mo; unknown
• Cheddar Flow – from $75/mo; Real-time
• Volland – from $99/mo; Updates every 2 min (0DTE widget every 5 min)
• MenthorQ – from $129/mo; unknown
• OptionsDepth – from $166.67/mo; Pro: daily updates; Pro Max: every 10 min intraday; Enterprise: every 1 min
• VolSignals – from $300/mo; unknown

Full table: GEX tools compared.

Built from FlowStack data checked 2026-10-16. Facts only; not investment advice and not a ranking of quality. Verify prices on each vendor's site.