{"slug":"what-is-gamma-exposure-gex","qid":"strike_concentration","label":"Same-day SPY contracts by strike: the ten busiest, July 6, 2026","post_title":"What Is Gamma Exposure (GEX)? Dealer Hedging","post_url":"/blog/what-is-gamma-exposure-gex#q-strike_concentration","columns":["strike","call_contracts_k","put_contracts_k","total_contracts_k"],"rows":[{"strike":"751","call_contracts_k":1082.3,"put_contracts_k":735.2,"total_contracts_k":1817.5},{"strike":"750","call_contracts_k":739.6,"put_contracts_k":986.4,"total_contracts_k":1725.9},{"strike":"752","call_contracts_k":911,"put_contracts_k":323.4,"total_contracts_k":1234.4},{"strike":"749","call_contracts_k":332,"put_contracts_k":627.4,"total_contracts_k":959.4},{"strike":"753","call_contracts_k":587.8,"put_contracts_k":74.8,"total_contracts_k":662.6},{"strike":"748","call_contracts_k":107,"put_contracts_k":457.4,"total_contracts_k":564.4},{"strike":"747","call_contracts_k":60.2,"put_contracts_k":293.3,"total_contracts_k":353.5},{"strike":"746","call_contracts_k":24,"put_contracts_k":160.8,"total_contracts_k":184.8},{"strike":"754","call_contracts_k":163.3,"put_contracts_k":13.2,"total_contracts_k":176.6},{"strike":"745","call_contracts_k":10.1,"put_contracts_k":149.5,"total_contracts_k":159.6}],"shape":"ranking","sql":"SELECT strike_label AS strike,\n       round(sumIf(contracts, opt_type = 'C') / 1e3, 1) AS call_contracts_k,\n       round(sumIf(contracts, opt_type = 'P') / 1e3, 1) AS put_contracts_k,\n       round(sum(contracts) / 1e3, 1)                   AS total_contracts_k\nFROM (\n    SELECT substring(ticker, length(ticker) - 8, 1)              AS opt_type,\n           toUInt32OrZero(substring(ticker, length(ticker) - 7, 8)) AS strike_thousandths,\n           toString(intDiv(strike_thousandths, 1000))            AS strike_label,\n           sum(toFloat64(volume))                                AS contracts\n    FROM global_markets.options_minute_aggs\n    WHERE window_start >= toDateTime('2026-07-06 08:00:00')\n      AND window_start <  toDateTime('2026-07-07 04:00:00')\n      AND startsWith(ticker, 'O:SPY260706')\n    GROUP BY ticker, opt_type, strike_thousandths, strike_label\n)\nGROUP BY strike_label\nORDER BY sum(contracts) DESC\nLIMIT 10","computed_at":"2026-08-13T14:40:10.114202+00:00","elapsed":0.003086484}