PSX
Phillips 66Prices 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 | 270 |
| Put Wall | 260 |
| GEX Flip | 255 |
| Vol Trigger | 260 |
| Net GEX | $8.0M |
Cached snapshot as of 2026-09-16 09:10 UTC, live streaming data in the terminal.
PSX 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 PSX'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 PSX option chain, not the whole book: the 30 strikes nearest spot out of 66 seen, 1,292 contract rows spanning 19 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 |
|---|---|---|---|---|
| 230 | -$327.1K | $111.6K | -$438.7K | |
| 232.5 | $0 | $0 | $0 | |
| 235 | -$495 | $0 | -$495 | |
| 237.5 | $0 | $0 | $0 | |
| 240 | -$352.4K | $323.4K | -$675.8K | |
| 242.5 | -$49.2K | $0 | -$49.2K | |
| 245 | -$310.1K | $37.6K | -$347.7K | |
| 247.5 | -$66.2K | $0 | -$66.2K | |
| 250 | -$62.4K | $687.6K | -$749.9K | |
| 252.5 | -$100.7K | $0 | -$100.7K | |
| 255GEX FLIP | $92.4K | $376.9K | -$284.5K | |
| 257.5 | $248.3K | $276.6K | -$28.3K | |
| 260PUT WALL | $2.4M | $3.3M | -$852.7K | |
| 262.5 | $137.9K | $139.3K | -$1.3K | |
| 265SPOT | $532.0K | $552.0K | -$20.0K | |
| 267.5 | $253.5K | $258.0K | -$4.5K | |
| 270CALL WALL | $2.4M | $2.7M | -$256.3K | |
| 272.5 | $21.2K | $21.2K | $0 | |
| 275 | $305.7K | $305.7K | $0 | |
| 277.5 | $0 | $0 | $0 | |
| 280 | $1.7M | $1.7M | -$7.9K | |
| 282.5 | $9.3K | $9.3K | $0 | |
| 285 | $216.4K | $216.4K | $0 | |
| 287.5 | $0 | $0 | $0 | |
| 290 | $579.4K | $580.4K | -$990 | |
| 292.5 | $0 | $0 | $0 | |
| 295 | $0 | $0 | $0 | |
| 297.5 | $0 | $0 | $0 | |
| 300 | $282.4K | $282.4K | $0 | |
| 302.5 | $0 | $0 | $0 |
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 PSX
Phillips 66 is a diversified energy manufacturing and logistics company operating in refining, midstream (pipelines and terminals through Phillips 66 Partners), chemicals (CPChem joint venture with Chevron), and marketing. It is one of the largest U.S. refiners and a major NGL processor.
WHY TRACK PSX ON SQUAWKFLOW
PSX options flow captures the intersection of refining margins and midstream earnings stability. Unusual positioning often reflects views on activist investor involvement and capital allocation strategy shifts.
PSX DATA ON SQUAWKFLOW
Options Flow
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