NVDA Gamma Exposure (GEX)
NVDA · computed from open interest and end-of-day quotes as of 2026-07-10 · spot $210.96 · 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 |
|---|---|---|---|
| $220 | $150M | 8.4% | 4.29% |
| $210 | $150M | 8.4% | -0.46% |
| $215 | $113M | 6.3% | 1.92% |
| $205 | $84M | 4.7% | -2.83% |
| $200 | $71M | 4.0% | -5.20% |
GEX by expiration
| Expiration | Net GEX / 1% | Absolute GEX |
|---|---|---|
| 2026-07-13 | $103M | $140M |
| 2026-07-15 | $59M | $72M |
| 2026-07-17 | $382M | $874M |
| 2026-07-20 | $22M | $29M |
| 2026-07-22 | $2M | $7M |
| 2026-07-24 | $62M | $132M |
| 2026-07-31 | $83M | $144M |
| 2026-08-07 | $13M | $35M |
| 2026-08-14 | $5M | $10M |
| 2026-08-21 | $63M | $345M |
What is gamma exposure?
When you buy an option, a market maker usually takes the other side and hedges by holding shares of NVDA. 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 ($194.83 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 NVDA options data
See the NVDA 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.