What is the current IBND gamma exposure (GEX)?

As of May 15, 2026, SPDR Bloomberg International Corporate Bond ETF (IBND) net gamma exposure is negative at $125 under the standard dealer-hedging convention. Net dealer delta exposure is $1.8K. GEX aggregates the gamma sitting on dealer books across all listed strikes and expirations.

Is IBND in positive or negative dealer gamma right now?

IBND is currently in negative dealer gamma. Dealers net short gamma must sell into weakness and buy into strength to maintain delta-neutrality, which amplifies realized volatility and tends to accelerate directional moves.

What does IBND GEX tell options traders?

GEX is a regime indicator: positive-gamma regimes favor mean-reverting strategies (premium-selling near established ranges); negative-gamma regimes favor momentum and breakout strategies. The same options-strategy structure can be appropriate or inappropriate depending on the dealer-gamma regime, so reading the sign and magnitude of net GEX before sizing positions is standard practice.

SPDR Bloomberg International Corporate Bond ETF (IBND) 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.

SPDR Bloomberg International Corporate Bond ETF (IBND) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $466.1M, listed on AMEX, carrying a beta of 1.13 to the broader market. The SPDRBloomberg International Corporate Bond ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Bloomberg Global Aggregate ex-USD > $1B: Corporate Bond IndexSeeks to provide a broad exposure to the global investment grade, fixed rate, fixed income corporate markets outside the United StatesThe securities in the Index must have a $1 billion USD equivalent market capitalization outstanding, have at least 1 year remaining, must be fixed rate (although zero coupon bonds and step-ups are permitted) and must be rated investment gradeMarket cap weighted and reconstituted on the last business day of the month public since 2010-05-20.

Snapshot as of May 15, 2026.

Spot Price: $31.25
Net Gamma: -$125
Net Delta: $1.8K
Net Vega: -$5
Gamma Concentration: 1.00

As of May 15, 2026, SPDR Bloomberg International Corporate Bond ETF (IBND) has negative net gamma exposure of $125 under the standard dealer-hedging convention. Net delta exposure is $1.8K. Negative GEX means dealers are net short gamma: they must sell into weakness and buy into strength, amplifying realized volatility and accelerating directional moves.

IBND Strategy Sizing in the Current GEX Regime

SPDR Bloomberg International Corporate Bond ETF is in a negative dealer-gamma regime ($125). Net dealer delta of $1.8K sets the size of the directional hedging flow that fires as spot moves. In this regime, momentum and breakout strategies fit the regime: long calls or puts, ratio backspreads, calendar spreads positioned for vol expansion. Realized volatility tends to overshoot implied during negative-gamma stretches, hurting indiscriminate short-vol exposure. The gamma-flip level - the spot price at which net dealer gamma changes sign - is the most actionable anchor for sizing: through-flip moves trigger qualitatively different hedging behavior than within-regime moves, so risk-defined structures sized to the current spot may not stay sized correctly if a flip is near.

Learn how gamma exposure is reported and how to read the data →

Frequently asked IBND gamma exposure (gex) & greeks questions

What is the current IBND gamma exposure (GEX)?: As of May 15, 2026, SPDR Bloomberg International Corporate Bond ETF (IBND) net gamma exposure is negative at $125 under the standard dealer-hedging convention. Net dealer delta exposure is $1.8K. GEX aggregates the gamma sitting on dealer books across all listed strikes and expirations.
Is IBND in positive or negative dealer gamma right now?: IBND is currently in negative dealer gamma. Dealers net short gamma must sell into weakness and buy into strength to maintain delta-neutrality, which amplifies realized volatility and tends to accelerate directional moves.
What does IBND GEX tell options traders?: GEX is a regime indicator: positive-gamma regimes favor mean-reverting strategies (premium-selling near established ranges); negative-gamma regimes favor momentum and breakout strategies. The same options-strategy structure can be appropriate or inappropriate depending on the dealer-gamma regime, so reading the sign and magnitude of net GEX before sizing positions is standard practice.