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Direxion Daily S&P 500 Bear SPXS 23.99 -1.19 -4.74%

SPXS Gamma Exposure (GEX)

SPXS (Direxion Daily S&P 500 Bear): See how call and put gamma exposure is distributed across option strikes. Free delayed preview.

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ATM IV
0.412
Put Call Ratio (OI)
1.03
Put Call Ratio (Vol)
0.702
IV Rank
28
IV Percentile
9.8
Max Pain
25

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}
4.0
851.0
| Δ | |\Delta|
0.00
1.00
Moneyness Moneyness
-36.1
36.1
View values by strike
SPXS · Gamma exposure · 2026-09-21. USD of exposure per 1% underlying move.
StrikeCallsPuts
1.00 0 -0.841
3.00 0 -2.04 K
4.00 0 -1.02 K
5.00 0 -8.35 K
6.00 0 -2.12 K
7.00 0 -653
8.00 0 -270
9.00 0 -41.8
10.00 0 -8.27
11.00 0 -0.682
12.00 0 -0.676
14.00 0 -1.99
15.00 17.7 K -33.7 K
16.00 0 -1.21 K
17.00 0 -21
18.00 12.6 -239
19.00 270 -260
20.00 4.29 K -416 K
20.50 0 -171
21.00 749 -63.7 K
21.50 20.4 K -1.37 K
22.00 93.3 K -179 K
22.50 59.9 K -3.48 K
23.00 417 K -509 K
23.50 277 K -36 K
24.00 844 K -353 K
24.50 203 K -136 K
25.00 338 K -313 K
25.50 111 K -71.5 K
26.00 238 K -724 K
26.50 11.5 K -2.27 K
27.00 61.5 K -20.2 K
27.50 4.84 K -131
28.00 70.6 K -28.5 K
28.50 51 K -368
29.00 86.9 K -63.2 K
29.50 1.11 K -24 K
30.00 202 K -20.1 K
30.50 961 0
31.00 70.9 K -9.91 K
31.50 12.3 0
32.00 25.9 K -6.95 K
33.00 31.2 K -1.37 K
33.50 82 0
34.00 39.3 K -8.78 K
35.00 10.5 K -14.6 K
36.00 18.9 K -14 K
37.00 5.48 K -2.67 K
38.00 6.56 K -1.2 K
39.00 2.33 K -1.2 K
40.00 6.28 K -1.93 K
41.00 7.56 K -3.66 K
42.00 20.7 K -2.13 K
43.00 8.14 K -2.8 K
44.00 2.68 K -2.87 K
45.00 6.55 K -39.1 K
50.00 9.68 K -1.62 K
55.00 3.27 K -1.76 K
60.00 13 K -44.1