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Shopify Inc SHOP 128.5 -0.1 -0.08%

SHOP Gamma Exposure (GEX)

SHOP (Shopify Inc): See how call and put gamma exposure is distributed across option strikes. Free delayed preview.

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ATM IV
0.445
Put Call Ratio (OI)
1.06
Put Call Ratio (Vol)
1.6
IV Rank
17.7
IV Percentile
12.5
Max Pain
134

Gamma exposure (2026-09-18)

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}
0.0
854.0
| Δ | |\Delta|
0.00
1.00
Moneyness Moneyness
-131.7
131.7
View values by strike
SHOP · Gamma exposure · 2026-09-18. USD of exposure per 1% underlying move.
StrikeCallsPuts
30.00 2.51 K -3.76 K
35.00 797 -11.3 K
40.00 1.39 K -7.3 K
45.00 616 -2.35 K
50.00 5.08 K -22.7 K
55.00 8.46 K -55.3 K
60.00 9.31 K -87.6 K
65.00 13.9 K -114 K
70.00 19.1 K -137 K
75.00 30.2 K -273 K
80.00 90.7 K -294 K
85.00 74.6 K -522 K
90.00 93.5 K -587 K
95.00 76.2 K -954 K
100.00 283 K -1.47 M
105.00 225 K -2.7 M
110.00 433 K -6.57 M
112.00 0 -74.2 K
113.00 117 -3.37 K
114.00 0 -3.21 K
115.00 656 K -1.97 M
116.00 0 -39.6 K
117.00 3.93 K -267 K
118.00 943 -1.28 M
119.00 3.34 K -142 K
120.00 1.83 M -4.59 M
121.00 6 K -164 K
122.00 3.07 K -107 K
123.00 2.63 K -168 K
124.00 6.82 K -1.91 M
125.00 3.45 M -5.53 M
126.00 178 K -819 K
127.00 113 K -920 K
128.00 2.29 M -6.52 M
129.00 1.43 M -492 K
130.00 7.95 M -12.4 M
131.00 321 K -184 K
132.00 446 K -214 K
133.00 336 K -119 K
134.00 1.91 M -265 K
135.00 20.1 M -1.79 M
136.00 412 K -30.3 K
137.00 302 K -42.8 K
138.00 123 K -63.3 K
139.00 145 K -73.4 K
140.00 18.5 M -1.67 M
141.00 76.2 K -18.3 K
142.00 86.1 K -30.6 K
143.00 330 K -8.19 K
144.00 201 K -13.2 K
145.00 2.13 M -1.38 M
146.00 60.6 K -6.58 K
147.00 93.8 K -6.57 K
148.00 44 K -4.72 K
149.00 45.1 K -697
150.00 2.82 M -798 K
152.50 35.6 K -1.23 K
155.00 1.72 M -399 K
157.50 42.9 K 0
160.00 4.17 M -284 K
162.50 17.8 K 0
165.00 907 K -154 K
167.50 11.7 K -4.89 K
170.00 677 K -92.8 K
172.50 26.1 K 0
175.00 2.14 M -79.2 K
180.00 428 K -138 K
185.00 407 K -20.9 K
190.00 426 K -36.3 K
195.00 1.34 M -13.8 K
200.00 588 K -67.6 K
205.00 614 0
210.00 151 K -650
215.00 1.14 K 0
220.00 223 K -1.3 K
230.00 240 K -1.65 K
240.00 203 K -2.15 K
250.00 118 K -6.89 K
260.00 172 K -534