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.
3 of 4 majors hold positive gamma with room to the flip. IWM sits just below its own — not enough to shift the regime, but it's the one to watch.
| Index | Spot | Chg | Flip | Cushion | Net GEX | IV | Exp move |
|---|---|---|---|---|---|---|---|
| SPY | 769.69 | +0.28% | — | — | $232M | 15 | ±0.54% |
| QQQ | 714.79 | -0.41% | — | — | $1982M | 43 | ±1.58% |
| IWM | 302.15 | +0.65% | 302.17 | -0.01% (-0.01×) | +$89M | 17 | ±0.62% |
| DIA | 535.46 | +0.48% | — | — | $6M | 11 | ±0.56% |
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 | 231.25 | +7% | 224.46 | 250.00 | 0.58× | 2.76 |
| AAPL | 316.88 | +2.25% | 313.57 | 320.00 | 1.9× | 0.94 |
| SMCI | 36.26 | -3.15% | 30.65 | 40.00 | 3.37× | 0.67 |
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