AAPL Gamma Exposure (GEX)
AAPL · computed from open interest and end-of-day quotes as of 2026-07-10 · spot $315.32 · updated nightly
Net GEX by strike
■ positive (dealers dampen moves) ■ negative (dealers amplify moves) — strikes within ±15% of spot.
Gamma walls
| Strike | Net GEX / 1% | Share of total gamma | Distance from spot |
|---|---|---|---|
| $320 | $214M | 12.4% | 1.48% |
| $310 | $150M | 8.7% | -1.69% |
| $325 | $120M | 7.0% | 3.07% |
| $315 | $92M | 5.3% | -0.10% |
| $345 | $85M | 4.9% | 9.41% |
GEX by expiration
| Expiration | Net GEX / 1% | Absolute GEX |
|---|---|---|
| 2026-07-13 | $36M | $135M |
| 2026-07-15 | $6M | $55M |
| 2026-07-17 | $514M | $861M |
| 2026-07-20 | $2M | $9M |
| 2026-07-22 | $2M | $4M |
| 2026-07-24 | $86M | $125M |
| 2026-07-31 | $48M | $79M |
| 2026-08-07 | $20M | $32M |
| 2026-08-14 | $11M | $15M |
| 2026-08-21 | $207M | $411M |
What is gamma exposure?
When you buy an option, a market maker usually takes the other side and hedges by holding shares of AAPL. As the price moves, the amount they must hold changes — that sensitivity is gamma. GEX aggregates it across all open contracts (calls positive, puts negative, per the standard dealer-positioning convention) into a dollar figure per 1% move.
In a positive gamma regime, dealers sell into rallies and buy dips — mechanically dampening volatility. In negative gamma, hedging flows push in the same direction as the market, amplifying moves. The gamma flip ($287.95 right now) is the estimated price where the regime switches, and large single-strike concentrations ("gamma walls") often act like short-term magnets or barriers. These are estimates built on simplified assumptions — positioning context, not predictions. Full explainer: what is GEX?
More AAPL options data
See the AAPL max pain dashboard for the expiry-pinning view of the same open interest.
GEX for other tickers
GEX is computed nightly from end-of-day open interest and quotes using a Black-Scholes approximation (r=0, q=0), matching common retail GEX conventions (methodology). Derived metrics only — not raw market data, not investment advice.