TSLA Gamma Exposure (GEX)
TSLA · computed from open interest and end-of-day quotes as of 2026-07-10 · spot $407.76 · 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 |
|---|---|---|---|
| $420 | $87M | 6.6% | 3.00% |
| $430 | $66M | 5.0% | 5.45% |
| $450 | $39M | 3.0% | 10.36% |
| $415 | $35M | 2.7% | 1.78% |
| $410 | $30M | 2.3% | 0.55% |
GEX by expiration
| Expiration | Net GEX / 1% | Absolute GEX |
|---|---|---|
| 2026-07-13 | $64M | $148M |
| 2026-07-15 | $48M | $107M |
| 2026-07-17 | $160M | $634M |
| 2026-07-20 | $15M | $34M |
| 2026-07-24 | $23M | $99M |
| 2026-07-31 | $19M | $65M |
| 2026-08-07 | $12M | $35M |
| 2026-08-14 | $1M | $8M |
| 2026-08-21 | $27M | $175M |
What is gamma exposure?
When you buy an option, a market maker usually takes the other side and hedges by holding shares of TSLA. 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 ($387.93 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 TSLA options data
See the TSLA 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.