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 | 765.38 | -0.32% | — | — | $1542M | 13 | ±0.48% |
| QQQ | 736.73 | -0.61% | — | — | $2893M | 18 | ±0.67% |
| IWM | 280.53 | -0.53% | 289.67 | -3.26% (-5.01×) | +$48M | 17 | ±0.65% |
| DIA | 512.72 | -0.32% | 527.35 | -2.85% (-5.49×) | +$9M | 14 | ±0.52% |
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 |
|---|---|---|---|---|---|---|
| HOOD | 120.98 | -1.56% | 120.35 | 125.00 | 0.21× | 6.38 |
| AAPL | 337.35 | +0.07% | 336.15 | 340.00 | 0.45× | 2.21 |
| QCOM | 192.57 | -2.62% | 187.71 | 200.00 | 1.22× | 1.53 |
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