First Trust Preferred Sec... (FPE)

The total Gamma Exposure (GEX) for FPE across all expirations is 24.25 shares per 1% move, with 28.12 from calls and 3.87 from puts. The put-call GEX ratio of 0.14 shows call-heavy positioning, potentially creating volatility as market makers hedge by selling into strength and buying weakness. The highest gamma concentration is at the Nov 21, 25 expiration with 17.46 net GEX, which may act as a magnet point for price action. Near-term exposure for Sep 19, 25 suggests possible volatility from negative gamma effects.