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 | 767.13 | +0.04% | 696.66 | +9.19% (14.58×) | $32M | 17 | ±0.63% |
| QQQ | 685.53 | -0.97% | — | — | $684M | 32 | ±1.19% |
| IWM | 284.41 | +0.13% | 285.40 | -0.35% (-0.38×) | +$367M | 25 | ±0.91% |
| DIA | 536.51 | +0.62% | 534.19 | +0.43% (1.11×) | +$291M | 11 | ±0.39% |
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 |
|---|---|---|---|---|---|---|
| AAPL | 353.63 | +1.16% | 349.79 | 360.00 | 0.94× | 1.66 |
| MSFT | 556.54 | +0.15% | 534.64 | 560.00 | 2.37× | 0.16 |
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