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 | 773.33 | -0.59% | — | — | $2037M | 13 | ±0.47% |
| QQQ | 736.04 | -0.99% | 606.60 | +17.59% (22.26×) | $1430M | 21 | ±0.79% |
| IWM | 273.09 | -1.27% | — | — | $211M | 18 | ±0.65% |
| DIA | 516.36 | +0.09% | 523.82 | -1.44% (-1.46×) | +$63M | 19 | ±0.99% |
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 |
|---|---|---|---|---|---|---|
| PLTR | 207.21 | -0.85% | 203.81 | 215.00 | 0.63× | 2.29 |
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