Net gamma exposure by strike ($M per 1% move) · estimated from the DDOG options chain (Polygon).
These are the 6 strikes carrying the most dealer gamma in DDOG right now. The heaviest is 230 at -1M per 1% move, 4.2% below spot — that is where hedging flow concentrates, and where price tends to slow down or stall.
| Strike | Net gamma | From spot | Effect |
|---|---|---|---|
| 280 | +0.3M | 16.7% | pins price |
| 250 | -0.3M | 4.2% | accelerates moves |
| 240 | -0.5M | 0.0% | accelerates moves |
| 230 | -1M | -4.2% | accelerates moves |
| 210 | -0.2M | -12.5% | accelerates moves |
| 200 | -0.2M | -16.7% | accelerates moves |
As of the latest session, DDOG is trading at $240.00 (+2.01% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 220 (upside magnet / resistance) and the put wall at 230 (downside level). Max pain is 260, and the options market is pricing a 1-sigma expected move of about ±15% (ATM IV 143%).
One strike dominates the map: 230, carrying −$1M per 1% move — below the current price. Negative gamma that size behaves like an accelerant — dealers chase price through it rather than defending it.
Options are expensive here: ATM implied volatility is 143%, pricing a 1-sigma move of ±15% (±$36.02) 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.
Note that DDOG has already traded through its call wall at 220 (−8.33% away). Past the wall, that positive gamma stops acting as a magnet and starts acting as a cap — the pull that carried price here is now the thing resisting it. The 230–220 band spans -4.2% of spot.
Want it interactive? Open DDOG on the live gamma map → · see how DDOG compares across the whole board on the free market regime tracker · new to this? What is GEX →
DDOG 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.
DDOG's flip isn't resolvable from the current chain — check the live map for today's level.
DDOG'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.
DDOG's call wall (220) is a magnet and resistance; the put wall (230) is support in positive gamma but a through-level once price is below the flip.
260, for the 2026-11-06 expiry — 4 days out. Spot is $240.00, so max pain sits 8.3% above the current price. In negative gamma the pull is weak: dealers are amplifying moves, not damping them toward a strike.
About -2M per 1% move into the 2026-11-06 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 DDOG options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
