Park Hotels & Resorts Inc. (PK) 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.
Park Hotels & Resorts Inc. (PK) operates in the Real Estate sector, specifically the REIT - Hotel & Motel industry, with a market capitalization near $2.18B, listed on NYSE, employing roughly 91 people, carrying a beta of 1.36 to the broader market. Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Led by Thomas Jeremiah Baltimore Jr., public since 2017-01-04.
Snapshot as of May 15, 2026.
- Spot Price
- $10.77
- Net Gamma
- -$71.9K
- Net Delta
- $1.4M
- Net Vega
- -$9.1K
- Gamma Concentration
- 0.61
As of May 15, 2026, Park Hotels & Resorts Inc. (PK) has negative net gamma exposure of $71.9K under the standard dealer-hedging convention. Net delta exposure is $1.4M. Negative GEX means dealers are net short gamma: they must sell into weakness and buy into strength, amplifying realized volatility and accelerating directional moves.
PK Strategy Sizing in the Current GEX Regime
Park Hotels & Resorts Inc. is in a negative dealer-gamma regime ($71.9K). Net dealer delta of $1.4M 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 →
PK largest gamma exposure contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $12.50 | Jul 17, 2026 | 1 | 1.2K | 868.1% | $0.10 | $0.20 |
| CALL | $10.00 | Jul 17, 2026 | 0 | 198 | 315.3% | $0.55 | $1.20 |
| PUT | $10.00 | Jul 17, 2026 | 13 | 2.3K | 315.3% | $0.30 | $0.40 |
| PUT | $15.00 | Jul 17, 2026 | 0 | 884 | 300.3% | $3.80 | $5.00 |
Top 4 contracts from the ORATS-sourced nightly scan; ranked by gex within the broader S&P 500/400/600 + ETF universe.
Frequently asked PK gamma exposure (gex) & greeks questions
- What is the current PK gamma exposure (GEX)?
- As of May 15, 2026, Park Hotels & Resorts Inc. (PK) net gamma exposure is negative at $71.9K under the standard dealer-hedging convention. Net dealer delta exposure is $1.4M. GEX aggregates the gamma sitting on dealer books across all listed strikes and expirations.
- Is PK in positive or negative dealer gamma right now?
- PK 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 PK 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.