How far each major index sits from its zero-gamma flip — the level where dealer hedging stops damping moves and starts amplifying them. Live for the current session.
Still positive gamma, but 2 of 4 majors sit inside one session's expected move of the flip. The regime hasn't changed — it's just out of room to be wrong.
| Index | Spot | Chg | Flip | Cushion | Net GEX | IV | Exp move |
|---|---|---|---|---|---|---|---|
| SPY | 773.38 | +0.61% | 779.09 | -0.74% (-2.11×) | +$257M | 10 | ±0.35% |
| QQQ | 723.23 | +1.2% | 713.19 | +1.39% (2.24×) | +$656M | 17 | ±0.62% |
| IWM | 301.93 | +1.11% | 300.26 | +0.55% (1.13×) | +$151M | 13 | ±0.49% |
| DIA | 540.00 | +0.27% | 533.98 | +1.11% (0.85×) | $2M | 13 | ±1.31% |
Cushion = distance from spot to the zero-gamma flip, and in brackets that distance measured in the index's own expected move for the day. Under 1× means the flip is inside a single normal session. Negative means price is already through it. What is dealer gamma? →
Spot sits above the zero-gamma flip with distance still to the call wall. R:R is room up to the wall divided by room down to the flip.
| Ticker | Spot | Chg | Flip | Wall | ×EM | R:R |
|---|---|---|---|---|---|---|
| MRVL | 218.70 | +3.88% | 216.43 | 240.00 | 0.11× | 9.38 |
| DELL | 454.70 | +3.9% | 448.93 | 500.00 | 0.14× | 7.85 |
| MU | 880.00 | -0.17% | 875.85 | 900.00 | 0.16× | 4.82 |
The gamma map is free and needs no signup — net dealer gamma by strike, the flip, call and put walls for any US ticker.
Open the free gamma map → Live regime tracker