DIA Gamma Exposure (GEX)
SPDR Dow Jones Industrial Average ETF Trust · computed from open interest and end-of-day quotes as of 2026-07-10 · spot $525.78 · 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 |
|---|---|---|---|
| $530 | $59M | 8.5% | 0.80% |
| $535 | $50M | 7.2% | 1.75% |
| $531 | $27M | 3.9% | 0.99% |
| $537 | $23M | 3.2% | 2.13% |
| $540 | $20M | 2.9% | 2.70% |
GEX by expiration
| Expiration | Net GEX / 1% | Absolute GEX |
|---|---|---|
| 2026-07-17 | $150M | $461M |
| 2026-07-24 | $31M | $95M |
| 2026-07-31 | $10M | $62M |
| 2026-08-07 | $5M | $18M |
| 2026-08-14 | −$39,327 | $5M |
| 2026-08-21 | $10M | $58M |
What is gamma exposure?
When you buy an option, a market maker usually takes the other side and hedges by holding shares of DIA. 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 ($519.01 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 DIA options data
See the DIA max pain dashboard for the expiry-pinning view of the same open interest , or check which ETFs overlap with DIA if you hold it as a fund.
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.