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 | 775.29 | -0.15% | — | — | $2309M | 8 | ±0.31% |
| QQQ | 733.30 | +0.3% | 730.56 | +0.37% (0.75×) | +$1262M | 14 | ±0.5% |
| IWM | 303.49 | -0.58% | 307.52 | -1.33% (-2.66×) | +$12M | 14 | ±0.5% |
| DIA | 535.07 | -0.36% | — | — | $20M | 10 | ±0.89% |
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 | 477.24 | -2.8% | 472.69 | 500.00 | 0.15× | 5 |
| AMD | 512.01 | -0.5% | 507.52 | 530.00 | 0.4× | 4.01 |
| AMZN | 261.68 | -0.52% | 257.71 | 270.00 | 1.33× | 2.1 |
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