AAPL · Apple
AAPL Gamma Exposure.
Live AAPL gamma exposure and dealer positioning for the top-weight tech mega-cap.
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Why AAPL GEX matters
AAPL is one of the largest single-name options markets by open interest and consistently a top-five weight in SPX and top-two in NDX. Dealer positioning on AAPL options shapes AAPL spot behaviour intraday, and because of the index weighting, meaningful AAPL flow shows up in aggregate index GEX. AAPL also carries a large covered-call and cash-secured-put audience, which shifts the dealer sign in ways the standard OI-based model misses.
Coverage
AAPL GEX covers the full listed chain - dailies, weeklies, monthlies (third-Friday), LEAPS, and every earnings and product-cycle expiry. Systematic covered-call flow is visible on the strike distribution.
How to read AAPL GEX
AAPL GEX walls are often set by systematic writers rather than pure retail flow. Round-number strikes tend to cluster large OI from covered-call ETFs. When the standard model shows those strikes as dealer-long walls but flow-based positioning shows dealers absorbed the writing, the 'wall' is actually a magnet - spot pushes through and accelerates. This is one of the sessions where reading the flow-based estimate matters most.
AAPL GEX - common questions
What is AAPL gamma exposure?
AAPL gamma exposure is the aggregate gamma held by dealers on Apple options. It reflects both retail directional flow and systematic-write strategies (covered calls, cash-secured puts) that shift the dealer sign versus the standard assumption.
Why does AAPL GEX matter for the S&P 500?
AAPL is a top-five SPX weight. Meaningful AAPL positioning changes ripple into SPX aggregate GEX. Reading AAPL as a leading indicator often flags SPX regime shifts before they show up on the index panel.
How does covered-call flow show up in AAPL GEX?
Big covered-call ETFs write monthly calls just above spot. The standard model treats those calls as dealer-long, producing a call wall. A flow-based estimate sees the writing and flips the sign - showing that the "wall" is actually a magnet, and spot pushes through and accelerates.
What about AAPL around product events?
Product events don't have the vol expansion earnings does, but they still shift positioning. Aggregate gamma often thins ahead of the event as dealers de-risk. Track the flow-based estimate around the event window for the cleanest read.
Learn how AAPL GEX works
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