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.
2 of 4 majors are below their zero-gamma flip — dealers amplify moves instead of damping them. Trade with momentum, not against it.
| Index | Spot | Chg | Flip | Cushion | Net GEX | IV | Exp move |
|---|---|---|---|---|---|---|---|
| SPY | 764.51 | +0.28% | 739.70 | +3.25% (7.92×) | +$7838M | 11 | ±0.41% |
| QQQ | 711.27 | +0.06% | 713.07 | -0.25% (-0.36×) | +$1767M | 19 | ±0.7% |
| IWM | 299.42 | +0.63% | 301.05 | -0.54% (-0.91×) | +$218M | 16 | ±0.6% |
| DIA | 530.20 | +0.54% | — | — | $25M | 10 | ±0.37% |
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 |
|---|---|---|---|---|---|---|
| MU | 976.52 | +0.38% | 949.00 | 1,000.00 | 1.1× | 0.85 |
| COIN | 189.44 | +9.94% | 160.17 | 200.00 | 3× | 0.36 |
| SMCI | 37.24 | +2.08% | 31.53 | 39.00 | 4.6× | 0.31 |
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