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 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 | 766.23 | +0.1% | — | — | $1230M | 14 | ±0.51% |
| QQQ | 715.49 | +0.45% | 716.98 | -0.21% (-0.27×) | +$661M | 21 | ±0.78% |
| IWM | 277.37 | +0.07% | 282.48 | -1.84% (-2.71×) | +$59M | 18 | ±0.68% |
| DIA | 522.15 | -0.16% | 530.43 | -1.59% (-1.22×) | +$26M | 18 | ±1.3% |
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? →
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