Net gamma exposure by strike ($M per 1% move) · estimated from the AAPL options chain (Polygon).
These are the 6 strikes carrying the most dealer gamma in AAPL right now. The heaviest is 340 at +276.6M per 1% move, 1.0% above spot — that is where hedging flow concentrates, and where price tends to slow down or stall.
| Strike | Net gamma | From spot | Effect |
|---|---|---|---|
| 345 | +70.7M | 2.4% | pins price |
| 342.5 | +41.5M | 1.7% | pins price |
| 340 | +276.6M | 1.0% | pins price |
| 337.5 | +57.3M | 0.2% | pins price |
| 335 | +87.7M | -0.5% | pins price |
| 330 | +48.2M | -2.0% | pins price |
As of the latest session, AAPL is trading at $336.80 (-0.01% on the day). Net dealer gamma is positive, with the zero-gamma flip near —. The call wall sits at 340 (upside magnet / resistance) and the put wall at 327.5 (downside level). Max pain is 315, and the options market is pricing a 1-sigma expected move of about ±1.5% (ATM IV 42%).
The book leans mildly upward: +$505M of positive gamma above spot versus +$244M below, a 2.1-to-1 tilt. Enough to bias drift toward 340, not enough to call it a magnet.
One strike dominates the map: 340, carrying +$277M per 1% move — above the current price. Positive gamma that size behaves like a wall: rallies into it get sold by hedging flow, and dips toward it get bought.
The options market is pricing a 1-sigma move of ±1.5% (±$5.2) into the nearest expiry, with ATM implied volatility at 42% — neither stretched nor giving anything away.
Spot is effectively at the 340 call wall (+0.95% away), the top of a 327.5–340 band worth 3.7% of price. This is where hedging flow does the most work: expect supply into strength until the wall is decisively cleared.
Want it interactive? Open AAPL on the live gamma map → · see how AAPL compares across the whole board on the free market regime tracker · new to this? What is GEX →
AAPL is in positive gamma with — of room above the null flip. Dealers are damping moves, so expect a mean-reverting tape that pulls back toward the heavy strikes.
AAPL's flip isn't resolvable from the current chain — check the live map for today's level.
AAPL's flip is not resolvable from the current chain. Pull it live on the free map — the level moves with open interest, so a stale number is worse than none.
AAPL's call wall (340) is a magnet and resistance; the put wall (327.5) is support in positive gamma but a through-level once price is below the flip.
315, for the 2026-09-18 expiry — expiring today. Spot is $336.80, so max pain sits 6.5% below the current price — and with positive gamma this close to expiry, that gap is the pin risk.
About +745M per 1% move into the 2026-09-18 expiry — and with spot above the zero-gamma flip, dealer hedging works against the move and damps realised volatility. GEX describes the character of the tape, not the direction. How dealer gamma works →
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Estimated from the AAPL options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
