Net gamma exposure by strike ($M per 1% move) · estimated from the CRWV options chain (Polygon).
These are the 6 strikes carrying the most dealer gamma in CRWV right now. The heaviest is 60 at +3.7M per 1% move, 15.6% above spot — that is where hedging flow concentrates, and where price tends to slow down or stall.
| Strike | Net gamma | From spot | Effect |
|---|---|---|---|
| 60 | +3.7M | 15.6% | pins price |
| 53 | +1.6M | 2.1% | pins price |
| 50 | -3.6M | -3.7% | accelerates moves |
| 47.5 | -1.8M | -8.5% | accelerates moves |
| 45 | -1.6M | -13.3% | accelerates moves |
| 44 | -2.2M | -15.2% | accelerates moves |
As of the latest session, CRWV is trading at $51.90 (-8.3% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 53 (upside magnet / resistance) and the put wall at 50 (downside level). Max pain is 55, and the options market is pricing a 1-sigma expected move of about ±15.5% (ATM IV 418%).
The gamma is stacked above spot: +$7M sits overhead against +$0M underneath, a 73.0-to-1 skew. That imbalance is a magnet — dealer hedging leans price upward toward 53 — but it is also why there is so little to catch CRWV if it goes the other way.
One strike dominates the map: 60, carrying +$4M 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.
Options are expensive here: ATM implied volatility is 418%, pricing a 1-sigma move of ±15.5% (±$8.03) into the nearest expiry. At that level you need the move and you need it quickly — long premium bleeds fast, and the structure above argues for spreads over outright calls.
That leaves a working band of 50 to 53 — 5.8% of spot, with +2.12% of room to the call wall and −3.66% down to the put wall. In a positive-gamma tape the edge is fading the edges of that band rather than chasing either end.
Want it interactive? Open CRWV on the live gamma map → · see how CRWV compares across the whole board on the free market regime tracker · new to this? What is GEX →
CRWV 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.
CRWV's flip isn't resolvable from the current chain — check the live map for today's level.
CRWV'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.
CRWV's call wall (53) is a magnet and resistance; the put wall (50) is support in positive gamma but a through-level once price is below the flip.
55, for the 2026-11-13 expiry — expiring today. Spot is $51.90, so max pain sits 6.0% above the current price. In negative gamma the pull is weak: dealers are amplifying moves, not damping them toward a strike.
About -6M per 1% move into the 2026-11-13 expiry — though spot is below the zero-gamma flip, so hedging at this price runs with the move and adds to it. GEX describes the character of the tape, not the direction. How dealer gamma works →
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Estimated from the CRWV options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
