TLT
iShares 20+ Year Treasury Bond ETFPrices 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 | 82 |
| Put Wall | 80 |
| GEX Flip | 81.5 |
| Vol Trigger | 81.5 |
| Net GEX | -$564.6M |
Cached snapshot as of 2026-09-16 06:05 UTC, live streaming data in the terminal.
TLT 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 TLT'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 TLT option chain, not the whole book: the 30 strikes nearest spot out of 72 seen, 2,200 contract rows spanning 29 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 |
|---|---|---|---|---|
| 73 | -$2.9M | $0 | -$2.9M | |
| 74 | -$2.7M | $3.4K | -$2.7M | |
| 75 | -$42.2M | $15.0M | -$57.2M | |
| 75.5 | $0 | $0 | $0 | |
| 76 | -$12.9M | $246.1K | -$13.2M | |
| 76.5 | $0 | $0 | $0 | |
| 77 | -$90.4M | $1.2M | -$91.5M | |
| 77.5 | -$1.6M | $1.5K | -$1.6M | |
| 78 | -$92.0M | $5.3M | -$97.3M | |
| 78.5 | -$6.8M | $133.5K | -$7.0M | |
| 79 | -$212.6M | $4.2M | -$216.8M | |
| 79.5 | -$13.9M | $645.1K | -$14.5M | |
| 80PUT WALL | -$376.8M | $106.7M | -$483.5M | |
| 80.5 | -$34.5M | $14.1M | -$48.6M | |
| 81SPOT | -$192.0M | $161.5M | -$353.4M | |
| 81.5GEX FLIP | $45.1M | $68.4M | -$23.3M | |
| 82CALL WALL | $31.1M | $280.2M | -$249.1M | |
| 82.5 | $31.1M | $39.5M | -$8.4M | |
| 83 | $116.7M | $208.3M | -$91.6M | |
| 83.5 | $18.9M | $19.1M | -$201.8K | |
| 84 | $62.8M | $123.3M | -$60.5M | |
| 84.5 | $4.1M | $4.1M | $0 | |
| 85 | $78.3M | $139.2M | -$60.9M | |
| 85.5 | $1.2M | $1.2M | $0 | |
| 86 | $41.1M | $49.4M | -$8.3M | |
| 86.5 | $616.4K | $616.4K | $0 | |
| 87 | $53.6M | $57.4M | -$3.8M | |
| 87.5 | $1.1M | $1.1M | $0 | |
| 88 | $30.9M | $43.2M | -$12.4M | |
| 88.5 | $284.6K | $284.6K | $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 TLT
TLT tracks an index of U.S. Treasury bonds with remaining maturities greater than 20 years. It is the most liquid long-duration bond ETF and the primary vehicle for trading interest rate expectations, duration risk, and the long end of the yield curve. TLT moves inversely to long-term interest rates.
WHY TRACK TLT ON SQUAWKFLOW
TLT options flow is the most important rates market signal outside of futures. Institutional put/call positioning directly reflects Fed policy expectations, inflation outlook, and flight-to-safety demand during market stress events.
TLT DATA ON SQUAWKFLOW
Options Flow
TLT options flow, unusual activity, and volume concentrations from the session chain
Latest Snapshot
Last TLT price, change, volume, and the current dealer-gamma regime
GEX Dashboard
TLT gamma exposure levels, call/put walls, and GEX flip
AI Narration
AI-powered analysis of TLT market microstructure in real time
News Sentiment
TLT news with AI sentiment scoring and impact analysis
Sector Context
ETFs/Indices sector rotation and relative strength vs peers
Track TLT in the Terminal
Options flow, per-strike dealer gamma, key levels, and AI narration, free.
Open Terminal →LEARN MORE
A practical guide to reading dealer positioning data and understanding how market maker flows affect price action.
What is Gamma Exposure (GEX)? A Complete GuideUnderstanding gamma exposure and how dealer hedging creates support and resistance levels in the market.