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Invesco National AMT-Free Municipal Bond PZA 21.95 -0.07 -0.32%

PZA Gamma Exposure (GEX)

PZA (Invesco National AMT-Free Municipal Bond): See how call and put gamma exposure is distributed across option strikes. Free delayed preview.

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ATM IV
0.307
Put Call Ratio (OI)
0.274
Put Call Ratio (Vol)
0.197
IV Rank
2.82
IV Percentile
75.7
Max Pain
22

Gamma exposure (2026-09-21)

GEX estimates dealer hedging flow at each strike.

Positive GEX = dealers are long gamma; they buy the dip and sell the rip, dampening volatility. Negative GEX = dealers are short gamma; they sell the dip and buy the rip, amplifying volatility.

DTE \text{DTE}
25.0
207.0
| Δ | |\Delta|
0.00
1.00
Moneyness Moneyness
-9.1
9.1
View values by strike
PZA · Gamma exposure · 2026-09-21. USD of exposure per 1% underlying move.
StrikeCallsPuts
21.00 91.7 K -721
22.00 145 K 0
23.00 53.7 K -30.3 K
24.00 120 -252