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. DIA 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 | 770.68 | -0.32% | — | — | $1655M | 10 | ±0.36% |
| QQQ | 743.12 | -0.54% | — | — | $612M | 14 | ±0.53% |
| IWM | 284.00 | -1.08% | — | — | $56M | 17 | ±0.63% |
| DIA | 516.34 | -0.29% | 517.76 | -0.28% (-0.4×) | +$143M | 13 | ±0.69% |
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 |
|---|---|---|---|---|---|---|
| CRWV | 88.31 | +2.16% | 88.01 | 90.00 | 0.08× | 5.63 |
| COIN | 202.51 | +0.62% | 192.34 | 210.00 | 1.49× | 0.74 |
| ARM | 332.94 | +0.37% | 282.62 | 365.00 | 3.29× | 0.64 |
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