QQQ · Invesco QQQ ETF
QQQ Gamma Exposure.
Live QQQ gamma exposure and dealer positioning for the Nasdaq-100 tracking ETF.
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Why QQQ GEX matters
QQQ options are the retail-facing wrapper for Nasdaq-100 exposure. Contract size is one-tenth of NDX, which makes strikes more granular and open interest more evenly distributed across strikes than the index. That granularity matters - QQQ GEX walls often show tighter resistance and support zones than NDX because the retail flow clusters more densely on round-number strikes.
Coverage
QQQ GEX covers the full listed chain - dailies, weeklies, monthlies, and LEAPS. Dailies on QQQ have grown into meaningful retail flow, and the 0DTE panel captures that story separately from the longer-dated positioning.
How to read QQQ GEX
Watch for QQQ walls that align with round-number levels. When those walls also line up with NDX walls (scaled 40x for contract size), the level is structurally significant. QQQ 0DTE is the retail 0DTE read for tech - its gamma flip patterns often lead NDX flip patterns by a session or two into earnings-heavy weeks.
QQQ GEX - common questions
What is QQQ gamma exposure?
QQQ gamma exposure is the aggregate gamma held by dealers on options for the Invesco QQQ ETF, which tracks the Nasdaq-100. It captures retail-driven hedging demand for tech-heavy exposure at a smaller contract size than NDX.
Why cover both NDX and QQQ separately?
They track the same index but have different participant mixes. NDX is institutional; QQQ is retail-heavy. Reading both gives you a cleaner picture of whether positioning is smart-money-driven or crowd-driven.
Does BackQuant show QQQ 0DTE?
Yes. QQQ daily expiries are covered on the 0DTE panels alongside SPX and NDX. QQQ 0DTE flow has grown substantially and now shows meaningful dealer concentration into the close.
How does QQQ GEX interact with NVDA and AAPL?
QQQ is dominated by a handful of mega-caps. Concentrated single-name gamma moves in NVDA, AAPL, MSFT, or GOOGL often ripple through QQQ and NDX GEX before the aggregate picture reflects it. Watching single-name pages in parallel gives you the leading read.
Learn how QQQ GEX works
In-depth guides covering the mechanics behind the panel.
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