Vanguard Long-Term Treasury ETF (VGLT) 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.
Vanguard Long-Term Treasury ETF (VGLT) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $14.14B, listed on NASDAQ, carrying a beta of 2.23 to the broader market. Seeks to provide a high and sustainable level of current income. public since 2010-01-04.
Snapshot as of May 15, 2026.
- Spot Price
- $53.55
- Net Gamma
- $489.7K
- Net Delta
- -$220.5K
- Net Vega
- -$13.8K
- Gamma Concentration
- 0.27
As of May 15, 2026, Vanguard Long-Term Treasury ETF (VGLT) has positive net gamma exposure of $489.7K under the standard dealer-hedging convention. Net delta exposure is -$220.5K. Positive GEX means dealers are net long gamma: they buy into dips and sell into rallies, damping realized volatility and often causing price to pin near heavy open-interest strikes.
VGLT Strategy Sizing in the Current GEX Regime
Vanguard Long-Term Treasury ETF is in a positive dealer-gamma regime ($489.7K). Net dealer delta of -$220.5K sets the size of the directional hedging flow that fires as spot moves. In this regime, mean-reverting strategies fit the regime: credit spreads, iron condors, covered calls near established ranges. Realized volatility tends to undershoot implied during positive-gamma stretches, supporting the short-vol structures. 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 VGLT gamma exposure (gex) & greeks questions
- What is the current VGLT gamma exposure (GEX)?
- As of May 15, 2026, Vanguard Long-Term Treasury ETF (VGLT) net gamma exposure is positive at $489.7K under the standard dealer-hedging convention. Net dealer delta exposure is -$220.5K. GEX aggregates the gamma sitting on dealer books across all listed strikes and expirations.
- Is VGLT in positive or negative dealer gamma right now?
- VGLT is currently in positive dealer gamma. Dealers net long gamma buy underlying weakness and sell into rallies to maintain delta-neutrality, which dampens realized volatility and tends to pin price near heavy open-interest strikes.
- What does VGLT 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.