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 | 763.38 | +1.15% | 763.30 | +0.01% (0.01×) | +$931M | 24 | ±0.87% |
| QQQ | 687.92 | +0.31% | — | — | $465M | 45 | ±1.67% |
| IWM | 284.97 | +1.8% | 279.80 | +1.81% (1.43×) | +$580M | 34 | ±1.27% |
| DIA | 528.66 | +2.2% | 529.30 | -0.12% (-0.71×) | +$162M | 3 | ±0.17% |
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 |
|---|---|---|---|---|---|---|
| META | 628.00 | +1.12% | 618.95 | 640.00 | 0.58× | 1.33 |
| NFLX | 64.77 | +2.19% | 64.43 | 65.00 | 0.24× | 0.68 |
| MSFT | 537.24 | +3.16% | 528.73 | 540.00 | 0.86× | 0.32 |
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