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.
Still positive gamma, but 2 of 4 majors sit inside one session's expected move of the flip. The regime hasn't changed — it's just out of room to be wrong.
| Index | Spot | Chg | Flip | Cushion | Net GEX | IV | Exp move |
|---|---|---|---|---|---|---|---|
| SPY | 767.12 | -0.8% | — | — | $1453M | 16 | ±0.58% |
| QQQ | 714.26 | -1.5% | 717.53 | -0.46% (-0.46×) | +$620M | 27 | ±0.99% |
| IWM | 276.98 | +0.2% | 274.27 | +0.98% (1.24×) | +$646M | 21 | ±0.79% |
| DIA | 527.17 | -0.16% | 526.52 | +0.12% (0.21×) | +$157M | 16 | ±0.6% |
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 |
|---|---|---|---|---|---|---|
| TSLA | 386.71 | +0.31% | 378.30 | 400.00 | 1.48× | 1.58 |
| SMCI | 34.39 | -2.9% | 33.19 | 35.50 | 1.13× | 0.92 |
| MSFT | 526.68 | -1.31% | 445.49 | 535.00 | 14.54× | 0.1 |
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