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GEX Levels for ES and NQ Futures: SPX and NDX Gamma Exposure

See SPX and NDX GEX levels live on your ES and NQ futures charts with Quant Data's GEX Interval Map on the Futures Depth Map and Footprint.

Written by Andrew Hiesinger

Quant Data’s GEX Interval Map puts GEX (gamma exposure) levels on ES and NQ futures charts, right on our Futures Depth Map and Footprint. It draws SPX gamma exposure on ES (E-mini S&P 500) and NDX gamma exposure on NQ (E-mini Nasdaq-100), with every level at a futures price.

Every example here is real. The chart images are from Quant Data Futures on October 21, 2026: ES and NQ December 2026 futures (ESZ6 and NQZ6). All times are Eastern (ET).

Key takeaways

  • GEX on ES is SPX data, and GEX on NQ is NDX data. The GEX Interval Map converts both to futures prices for you, so every level lines up with your ES or NQ candles.

  • The GEX Interval Map has three parts. Beads show each strike’s GEX over time, a profile shows net GEX by strike, and level lines mark Zero Gamma, Call Wall, Put Wall and MVC.

  • A GEX level is not a signal. It shows where options exposure sits, not where price goes, and levels move during the session.

  • Quant Data Futures draws GEX levels on ES and NQ charts. Its GEX Interval Map runs on the Futures Depth Map and Footprint and updates live. The GEX Interval Map is included in the Options + Futures plan.

SPX GEX levels on ES futures: Quant Data GEX Interval Map on the Futures Depth Map, Oct 21, 2026, ESZ6 5-minute chart

Quant Data’s GEX Interval Map draws SPX gamma exposure on ES charts and NDX gamma exposure on NQ charts. Shown: ESZ6 5-minute bars on October 21, 2026, from 9:30 AM to about 4:10 PM ET. The large green row near 7,810 capped ES from about 1:00 to 2:40 PM.

See live GEX levels on your futures charts. The GEX Interval Map plots SPX and NDX gamma exposure on ES and NQ, next to live market depth and order flow, in your browser. The GEX Interval Map is included in the Options + Futures plan.


What is GEX on ES and NQ futures?

GEX on ES and NQ futures is gamma exposure drawn on your futures chart at futures prices. Quant Data’s GEX Interval Map draws it from index options: SPX options on ES, and NDX options on NQ.

GEX (gamma exposure) estimates how option gamma exposure is distributed across strikes. Methodologies vary, so treat GEX levels as estimates. For the full explanation, I suggest reading What is Gamma Exposure (GEX)?


Are ES and SPX the same?

No. SPX is the S&P 500 index. ES is the E-mini S&P 500 futures contract, which trades on CME and tracks that index. ES usually trades at a different price than SPX. That gap is called the basis. It moves during the day and tends to shrink as the contract nears expiration.

Are NQ and NDX the same?

No. NDX is the Nasdaq-100 index. NQ is the E-mini Nasdaq-100 futures contract, which also trades on CME and tracks that index. Like ES and SPX, they trade at different prices, and the gap between them changes.


How do SPX and NDX GEX levels convert to ES and NQ?

To convert SPX GEX levels to ES and NDX GEX levels to NQ, add the GEX Interval Map to your futures chart. It does the conversion for you. You can’t just use an index level on a futures chart, because ES and SPX trade at different prices, and so do NQ and NDX. For the same reason, an ES to SPX conversion can’t just reuse the ES price.

We use a proprietary method to convert SPX and NDX options data to ES and NQ prices, so every level sits at a futures price on your chart.

What are NQ GEX levels?

NQ GEX levels are GEX levels from NDX options, drawn on your NQ chart at NQ prices. It’s the same indicator as on ES, with the same beads, net GEX profile and level lines.

NDX GEX levels on NQ futures: Quant Data GEX Interval Map on the Futures Depth Map, Oct 21, 2026, NQZ6 1-minute chart

Quant Data’s GEX Interval Map draws NDX gamma exposure on NQ charts. Shown: NQZ6 1-minute bars on October 21, 2026, from about 9:15 to 11:10 AM ET, with large green rows near 29,940 and 29,790.


How do I read GEX on an ES or NQ chart?

The GEX Interval Map turns your ES or NQ chart into a GEX chart. It draws three things at futures prices, lined up with the candles: beads, a net GEX profile and level lines.

Quant Data designed the first GEX bubble map, the Interval Map, to show gamma exposure over time in an easy-to-read view. If you’ve used it on the options side, the beads will look familiar. We brought that view to your ES and NQ charts.

What do the beads show?

Each row of beads is a strike, and the beads run across the chart over time. Green means positive net GEX at that strike, and red means negative. The bigger the bead, the more exposure.

Read left to right, a row shows exposure building or fading through the session. On October 21, the large green row near 7,810 in the first image formed in the late morning and stayed green through the close. ES stalled at it from about 1:00 to 2:40 PM, with a high of 7,812.25 at 2:16 PM, then dropped to 7,771.00 by 3:03 PM.

What does the net GEX profile show?

The net GEX profile is the bar chart in the right lane. It shows net GEX at each strike, in billions (B), millions (M) or thousands (K). Green bars are positive, red bars are negative, and a longer bar means more exposure.

What are Zero Gamma, Call Wall, Put Wall and MVC on ES and NQ?

Zero Gamma, Call Wall, Put Wall and MVC are the key gamma levels, drawn as lines at ES or NQ prices. You can turn each one on or off.

  • Zero Gamma (ZG): the price where net gamma exposure changes sign, also called the gamma flip.

  • Call Wall (CW): a key level where call positioning is concentrated.

  • Put Wall (PW): a key level where put positioning is concentrated.

  • MVC: a term Quant Data coined for the level with the greatest absolute GEX.


What do GEX levels tell you?

GEX levels tell you where options exposure is concentrated, and whether it’s positive or negative at each strike. Traders use them as prices to watch on the chart. A GEX level is not a signal. It doesn’t tell you whether price will reach it, hold at it, or break through it.

Levels also move during the session. On my ES chart on October 12, the Call Wall and MVC shared one price in the late morning. By mid-afternoon, the two had split. The Call Wall had moved 10 points lower, and the MVC had dropped 20 points, near Zero Gamma.

If you’re not sure what positive and negative gamma exposure mean, make sure you check out our article on gamma exposure (GEX).

What did NQ do at its GEX levels on October 21, 2026?

On October 21, 2026, NQ held the green row near 29,790 as support and stalled twice at the row near 29,940. It then ran to just under the Call Wall and MVC near 30,060, turned lower, and broke through that level less than an hour later. The highs and lows below are from NQZ6 1-minute bars.

  • Support near NQ 29,790. At 9:43 AM, NQ dipped through this row to 29,771.00, then closed back above it the next minute. At 10:12 AM it came back to 29,787.25 and turned up again.

  • Resistance near NQ 29,940. NQ stalled there at 10:02 AM (high 29,934.25) and again at 10:50 AM (high 29,943.75), then broke above it later in the morning.

  • Rejection at the Call Wall and MVC (near 30,060). NQ ran to 30,059.50 at 11:50 AM, just under it. By 12:28 PM it had dropped 75 points, to 29,984.50.

The support and resistance rows are the two large green rows in the 1-minute NQ image earlier in this article. Here’s the run to the Call Wall and MVC on 5-minute bars:

NQ Call Wall and MVC near 30,060: Quant Data GEX Interval Map on the Depth Map, Oct 21, 2026, 5-minute bars

Quant Data’s GEX Interval Map on NQZ6, October 21, 2026, 5-minute bars from about 10:35 AM to 1:40 PM ET: NQ runs up from the lower green row to the Call Wall and MVC near 30,060, turns lower, then breaks above it. The tags show the levels and the last price after the close.

I exited my NQ long before price reached the Call Wall, then shorted the rejection. The point here is the level, not the trade. At 12:39 PM, NQ broke through the Call Wall and MVC, reaching 30,110.75 by 12:40 PM. This is one session. NQ reacted at these levels that day, but the levels didn’t show which way it would go.

It’s never suggested to rely solely on one tool for making trading decisions. Tools should be used in confluence with each other.


Should I use All expirations or 0DTE?

Use All to see exposure from every expiration. Use 0DTE (zero days to expiration) to see only the options that expire that day. Neither is better. Switching shows whether a row’s exposure is mostly from that day’s options or from later expirations. If a row thins out when you switch to 0DTE, most of its exposure is in later expirations.


Can I see GEX on the Futures Footprint and Depth Map?

Yes, the GEX Interval Map runs on both the Futures Depth Map and the Futures Footprint, so GEX levels and order flow sit on one ES or NQ chart. Traders use the levels to pick prices to watch, then lean on order flow trading and market depth to see what actually happens when price gets there.


Why use Quant Data for GEX levels on ES and NQ?

Quant Data started as an options platform and has spent six years delivering licensed options data. Its GEX levels come from proprietary algorithms built in-house, and the GEX Interval Map puts SPX GEX on ES and NDX GEX on NQ at futures prices, on the Depth Map and Footprint next to your order flow.

  • Built on the same options data. The GEX Interval Map uses the same SPX and NDX options data as our options tools, like the Exposure Forecast. Treat GEX levels as estimates, not signals.

  • A data company traders already use. Quant Data has been used both on the NYSE and at Nasdaq, has 20,000+ members in its community, and was built by a team from Nasdaq, Amazon and Microsoft.

  • In your browser. The data updates live, on one page with Level 3 order flow.


Where can I find GEX levels for ES and NQ futures?

You can find GEX levels for ES and NQ futures in Quant Data Futures, on the Futures Depth Map and Futures Footprint, with the GEX Interval Map indicator. On an ES chart it draws SPX GEX, and on an NQ chart it draws NDX GEX. The GEX Interval Map is included in the Options + Futures plan.

To add it, you’ll want to log in to v3.quantdata.us and go to Built-in Pages > Futures. Then click the “Indicators” button in the top right of the Futures Depth Map or Futures Footprint, and add GEX Interval Map from the “Main” tab.

Or you can click the “+” icon in the top right of any existing tool, then click the Futures tab to add either chart to your page. For the full steps, I suggest reading How to Add Tools to Built-in and Custom Pages on Quant Data.

Once you’ve added the GEX indicator, open its settings to turn each level line on or off and to switch between All and 0DTE.

GEX indicator settings in Quant Data Futures: GEX Interval Map with Show, Levels (Zero Gamma, Call Wall, Put Wall, MVC) and Expirations (All, 0DTE)

Quant Data’s GEX Interval Map settings, with all four level lines on and Expirations set to All.


FAQ

What are the current GEX levels for ES and NQ futures?

Current ES GEX levels and NQ GEX levels change from day to day and during the session, so any fixed list goes stale quickly. To see today’s levels at ES or NQ prices, add the GEX Interval Map to the Futures Depth Map or Footprint. The levels in this article are from October 12 and October 21, 2026, and are examples only.

Is NQ GEX from NDX or QQQ options?

NQ GEX in Quant Data comes from NDX options, and ES GEX comes from SPX options. You can see SPY and QQQ GEX on the options side, in Options Exposure.

Does GEX on ES and NQ use Cboe data?

Yes. GEX on ES comes from SPX options, which are listed on Cboe. GEX on NQ comes from NDX (Nasdaq-100 index) options, which are listed on Nasdaq PHLX, Nasdaq ISE and Nasdaq GEMX. We take in options data from every U.S. options exchange through OPRA (the Options Price Reporting Authority), the official consolidated feed, so Cboe’s trades and quotes are part of it.

Why do GEX levels differ between providers?

GEX levels differ between providers because each one uses its own data, methods and timing, so levels for the same day can land at different prices. We use a proprietary method built on licensed options data, so our levels won’t always match another provider’s.


I have not signed up for Quant Data. How do I?

If you want SPX and NDX GEX on your ES and NQ charts, along with the DOM, Depth Map, footprint chart and tape, click here to start your free trial. Click on Learn More if you would like to learn more about what we offer.


Would you like further assistance?

If you have any questions or need further assistance, please don’t hesitate to reach out to the Quant Data team at support@quantdata.us or via our live chat located on the bottom right-hand corner of your screen. We are available on our live chat between 9:30 AM and 5:00 PM (eastern time), Monday through Friday.

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