SPDR S&P 500 ETF Trust (SPY)
AMEX: SPY
· Real-Time Price · USD
640.37
-4.68 (-0.73%)
At close: Sep 02, 2025, 3:59 PM
641.21
0.13%
After-hours: Sep 02, 2025, 07:59 PM EDT
SPY Gamma Exposure By Expiry
The total Gamma Exposure (GEX) for SPY across all expirations is -6,535,869.61 shares per 1% move, with 18,213,749.82 from calls and 24,749,619.43 from puts. The put-call GEX ratio of 1.36 indicates heavy put positioning, suggesting market makers may need to buy shares on declines (supportive) and sell on rallies (resistance). The highest gamma concentration is at the Sep 19, 25 expiration with -2,348,024.29 net GEX, which may act as a pivot point for price action. Near-term exposure for Sep 4, 25 suggests possible volatility from negative gamma effects.
SPY GEX Table
| Expiry Date | Call GEX | Put GEX | Net GEX | P/C GEX |
|---|---|---|---|---|
| Sep 4, 25 | 628,877.15 | -677,304.61 | -48,427.46 | 1.08 |
| Sep 5, 25 | 1,639,813.08 | -3,510,669.68 | -1,870,856.6 | 2.14 |
| Sep 8, 25 | 143,757.45 | -169,820.44 | -26,062.99 | 1.18 |
| Sep 9, 25 | 121,625.98 | -177,062.67 | -55,436.69 | 1.46 |
| Sep 10, 25 | 31,274.53 | -86,001.82 | -54,727.29 | 2.75 |
| Sep 11, 25 | 10,631.63 | -11,360.37 | -728.74 | 1.07 |
| Sep 12, 25 | 1,008,144.06 | -2,128,864.68 | -1,120,720.62 | 2.11 |
| Sep 19, 25 | 4,782,891.94 | -7,130,916.23 | -2,348,024.29 | 1.49 |
| Sep 26, 25 | 380,973.33 | -419,772.12 | -38,798.79 | 1.10 |
| Sep 30, 25 | 1,468,918.08 | -1,960,972.14 | -492,054.06 | 1.33 |
| Oct 3, 25 | 137,803.52 | -121,574.81 | 16,228.71 | 0.88 |
| Oct 10, 25 | 4,723.93 | -6,050.04 | -1,326.11 | 1.28 |
| Oct 17, 25 | 1,504,002.73 | -2,799,958.07 | -1,295,955.34 | 1.86 |
| Oct 31, 25 | 793,053.69 | -1,047,619.35 | -254,565.66 | 1.32 |
| Nov 21, 25 | 354,834.99 | -600,678.62 | -245,843.63 | 1.69 |
| Nov 28, 25 | 135,347.69 | -130,240.99 | 5,106.7 | 0.96 |
| Dec 19, 25 | 1,368,010.58 | -998,807.86 | 369,202.72 | 0.73 |
| Dec 31, 25 | 368,758.64 | -233,031.98 | 135,726.66 | 0.63 |
| Jan 16, 26 | 1,195,159.32 | -971,221.54 | 223,937.78 | 0.81 |
| Jan 30, 26 | 29,318.05 | -22,515.91 | 6,802.14 | 0.77 |