COP
ConocoPhillipsPrices and gamma are point-in-time snapshots taken at the time shown. Dealer positioning is an assumption, not an observable: open interest shows that a contract exists, never which side a dealer holds. How dealer gamma is computed.
LIVE MARKET SNAPSHOT
| Call Wall | 150 |
| Put Wall | 130 |
| GEX Flip | 138 |
| Vol Trigger | 130 |
| Net GEX | $36.2M |
Cached snapshot as of 2026-09-16 09:10 UTC, live streaming data in the terminal.
COP DEALER GAMMA BY STRIKE
Part of the SquawkFlow GEX Calculator: gamma by strike for any US stock. Compare with SPX GEX.
Net gamma exposure at each strike near COP's spot price, signed from the dealer perspective, calls positive, puts negative. Green strikes are where hedging tends to dampen moves; red is where it tends to amplify them. Dealer positioning is an assumption rather than an observable, so treat these as a map of where hedging pressure concentrates, not a forecast.
Unit: USD of dealer gamma per 1 percent move in spot. A window of the COP option chain, not the whole book: the 30 strikes nearest spot out of 59 seen, 1,130 contract rows spanning 18 expirations. Gamma is taken as the chain publishes it per contract; nothing here is re-priced. Crossed with the open interest carried on that chain.
New to these levels? Start with the call wall and put wall, or the zero gamma level where the sign of dealer hedging flips.
| Strike | Net GEX | Call GEX | Put GEX | Concentration |
|---|---|---|---|---|
| 123 | -$9.7K | $0 | -$9.7K | |
| 124 | -$65.4K | $0 | -$65.4K | |
| 125 | $898.0K | $2.2M | -$1.3M | |
| 126 | -$14.3K | $0 | -$14.3K | |
| 127 | -$2.5K | $0 | -$2.5K | |
| 128 | -$15.8K | $0 | -$15.8K | |
| 129 | -$51.3K | $0 | -$51.3K | |
| 130PUT WALL | $2.1M | $3.8M | -$1.7M | |
| 131 | $6.4K | $22.3K | -$15.9K | |
| 132 | -$272.4K | $43.6K | -$316.0K | |
| 133 | -$65.3K | $19.4K | -$84.7K | |
| 134 | $1.3M | $1.5M | -$186.7K | |
| 135 | $3.5M | $5.1M | -$1.7M | |
| 136 | $407.8K | $538.3K | -$130.5K | |
| 137 | -$307.7K | $337.6K | -$645.3K | |
| 138GEX FLIP | $1.1M | $1.2M | -$53.2K | |
| 139 | $1.4M | $1.5M | -$25.2K | |
| 140 | $10.6M | $10.9M | -$335.1K | |
| 141SPOT | $570.2K | $578.9K | -$8.8K | |
| 142 | $360.6K | $360.6K | $0 | |
| 143 | $298.3K | $298.3K | $0 | |
| 144 | $234.5K | $234.5K | $0 | |
| 145 | $5.9M | $5.9M | -$40.4K | |
| 146 | $352.2K | $352.2K | $0 | |
| 147 | $175.9K | $175.9K | $0 | |
| 148 | $64.3K | $64.3K | $0 | |
| 149 | $2.2K | $2.2K | $0 | |
| 150CALL WALL | $6.6M | $6.6M | -$16.5K | |
| 152.5 | $399 | $399 | $0 | |
| 155 | $1.1M | $1.1M | -$319 |
These levels were captured September 16, 2026 from the open interest carried on the option chain. New levels post before each market open. Today's SPX gamma levels.
ABOUT COP
ConocoPhillips is the world's largest independent exploration and production (E&P) company, with major positions in Alaska, the Lower 48 (Permian, Eagle Ford, Bakken), Canada, and international LNG. The company focuses exclusively on upstream operations and is known for disciplined capital allocation and shareholder returns.
WHY TRACK COP ON SQUAWKFLOW
COP options flow is a pure-play E&P signal. Unusual call activity often precedes WTI crude price moves, and institutional positioning reflects views on U.S. shale production growth rates.
COP DATA ON SQUAWKFLOW
Options Flow
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Latest Snapshot
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AI Narration
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