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GEX strike profile — BE spot $220.26 · flip $240.70 · 2026-07-23 · negative-gamma · 3 expiries, 1–15 DTE

Each row is a strike, summed across ALL expiries in the window above (front ~3 weeks of the board — not 0DTE, not a single expiry). Bar = net dealer gamma at that strike (green right = positive/pinning, red left = negative/amplifying). Put OI / call OI show where contracts are actually open — the positioning distribution behind the walls. Highlighted row ≈ spot.

strikeput OInet γ per strikecall OIγ $
240⊘ flip2,162
2,848+184116
237.5345
294-23179
235754
1,057+129669
232.5586
334+1299
2301,646
2,820+400897
227.51,587
449-1M
225call wall1,634
5,655+1M
222.5382
423+274953
2202,632
1,307-418665
217.5479
243-131974
2154,419
1,089-1M
212.5619
289-228843
2105,794
1,459-2M
207.51,367
676-599969
2052,380
1,298-996769
202.5713
181-214351
200put wall7,317
1,305-2M

Dealer-sign convention assumed (long calls / short puts); OI is end-of-day lagged. High-traffic zones, not prophecy.