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 | 772.59 | +0.24% | — | — | $339M | 19 | ±0.69% |
| QQQ | 725.04 | +0.88% | 722.49 | +0.35% (0.48×) | +$1536M | 20 | ±0.73% |
| IWM | 301.89 | +0.3% | 301.91 | -0.01% (-0.01×) | +$354M | 16 | ±0.61% |
| DIA | 537.31 | -0.01% | 527.12 | +1.9% (2.96×) | $16M | 12 | ±0.64% |
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 |
|---|---|---|---|---|---|---|
| DELL | 462.42 | +5.02% | 458.17 | 500.00 | 0.21× | 8.84 |
| PLTR | 169.20 | -3.42% | 167.94 | 180.00 | 0.27× | 8.57 |
| TSLA | 328.06 | -1.5% | 326.52 | 335.00 | 0.28× | 4.51 |
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