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United States Natural Gas Fund UNG 10.29 -0.12 -1.15%

UNG Gamma Exposure (GEX)

UNG (United States Natural Gas Fund): See how call and put gamma exposure is distributed across option strikes. Free delayed preview.

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ATM IV
0.378
Put Call Ratio (OI)
0.288
Put Call Ratio (Vol)
0.203
IV Rank
3.25
IV Percentile
9.45
Max Pain
10.5

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}
2.0
851.0
| Δ | |\Delta|
0.00
1.00
Moneyness Moneyness
-25.7
25.7
View values by strike
UNG · Gamma exposure · 2026-09-21. USD of exposure per 1% underlying move.
StrikeCallsPuts
1.00 8.9 -0.231
2.00 95.1 -0.448
3.00 8.84 -17.8
4.00 62.6 -0.74
5.00 2.67 K -2.47 K
5.50 2.02 0
6.00 7.7 K -8.1 K
7.00 8.19 K -12 K
7.50 73.1 0
8.00 37.8 K -104 K
8.50 171 -2.48 K
9.00 1.22 M -246 K
9.50 61.8 K -73.6 K
10.00 1.11 M -1.67 M
10.50 423 K -72.2 K
11.00 1.25 M -119 K
11.50 32 K -786
12.00 565 K -33.9 K
12.50 1.21 K 0
13.00 276 K -16.6 K
13.50 1.91 K 0
14.00 118 K -4.59 K
14.50 872 0
15.00 165 K -21.6 K
15.50 982 -2.5
16.00 14.1 K -1.94 K
17.00 47.3 K -2.72 K
18.00 7.25 K -1.85 K
19.00 7.63 K -1.22 K
19.50 2.71 0
20.00 33.2 K -367
21.00 4.55 K -13.6
22.00 3.52 K -400
23.00 4.65 K -684
24.00 1.88 K -11.2
25.00 13.1 K 0
26.00 1.09 K 0
27.00 2.03 K 0
28.00 2.04 K 0
29.00 363 0
30.00 10.2 K 0
31.00 430 0
32.00 1.44 K 0
33.00 389 0
34.00 2.98 K 0
35.00 2.25 K 0
36.00 4.06 K 0