What is Gamma Exposure (GEX), and how can I use it?

What is Gamma Exposure (GEX), and how can I use it?

Gamma Exposure (GEX) is an options analytics measure that combines Gamma and Open Interest (OI) to show gamma-related exposure across different strike prices. It helps you identify strikes where open options positions have greater sensitivity to changes in Delta as the underlying price moves. On FYERS Web, you can view GEX through the Option Chain and Analytics.

Steps to access GEX on FYERS 

  1. Log in to FYERS and go to Options.
  2. Select Option Chain → DEX/GEX to view strike-wise GEX values.
  3. For a chart view, go to Analytics → Gamma Exposure (GEX).
  4. Select the required Expiry and choose Call/Put GEX or Net GEX.

How to use the GEX chart

  • Call/Put GEX: Compare Gamma Exposure across Call and Put strikes.
  • Net GEX: View the combined net gamma exposure across strikes.
  • Gamma Flip: Identify the level where Net GEX changes from positive to negative or vice versa.
  • Strike Range: Choose 5, 10, 20, 25, or Custom to adjust the displayed strikes.
  • Expiry: Select the required options expiry.
  • As On: Select an available date to view the corresponding data.
  • Strike Details: Hover over a strike to view Call GEX, Put GEX, Net GEX, and the timestamp.
The summary bar displays Spot Price, Call GEX, Put GEX, Net GEX, and GEX Ratio. The chart also displays the Gamma Flip level.

What If...

ScenarioHow It Helps
Want to understand gamma exposure across strikesSelect Net GEX to examine overall gamma exposure across strikes.
Want to compare Call and Put gamma exposureSelect Call/Put GEX to identify strikes with higher gamma exposure.
Want to identify a change in gamma exposureCheck the Gamma Flip level to identify where Net GEX changes sign. This provides context for potential changes in volatility behaviour.
Want to examine gamma exposure at specific strikesUse Option Chain → DEX/GEX to compare strike-wise GEX values alongside OI.

Note: GEX and Gamma Flip provide additional context for options and volatility analysis. They do not predict market direction or generate buy or sell signals. Use them alongside OI, price action, and other indicators.

Last updated: 09 Oct 2026