First Trust Preferred Securities and Income ETF (FPE) Gamma Exposure (GEX) & Greeks

Gamma exposure (GEX) analysis shows how options positioning creates dealer hedging pressure across strikes. Includes delta, vanna, charm, vomma, and vega exposure by strike price.

Snapshot as of Apr 22, 2026.

Spot Price

$18.12

Net Gamma

-$254

Net Delta

$3.0K

As of Apr 22, 2026, First Trust Preferred Securities and Income ETF (FPE) has negative net gamma exposure of $254 under the standard dealer-hedging convention. Net delta exposure is $3.0K. Negative GEX means dealers are net short gamma — they must sell into weakness and buy into strength, amplifying realized volatility and accelerating directional moves.