Net gamma exposure by strike ($M per 1% move) · estimated from the GEV options chain (Polygon).
As of the latest session, GEV is trading at $992.98 (+10.3% on the day). Net dealer gamma is positive, with the zero-gamma flip near 1016.82. The call wall sits at 1000 (upside magnet / resistance) and the put wall at 975 (downside level). Max pain is 955, and the options market is pricing a 1-sigma expected move of about ±1.8% (ATM IV 49%).
GEV is in positive gamma. Dealers are net long gamma — they sell strength and buy weakness, which compresses volatility and pulls price toward the big strikes. Expect a grindy, mean-reverting tape that wants to pin near 955. The edge is fading the extremes of the 975–1000 band — until 1016.82 gives way to the downside.
Want it interactive? Open GEV on the live gamma map → · new to this? What is GEX →
GEV is currently in positive gamma, with the zero-gamma flip near 1016.82. Positive gamma means dealers dampen moves — a calmer, mean-reverting, pin-toward-the-strikes tape.
GEV's zero-gamma flip is around 1016.82 — the price where net dealer gamma crosses zero. Above it the tape tends to be positive-gamma (suppressed, range-bound); below it, negative-gamma (amplified, trending). Reclaiming or losing the flip is the single most important level on the map.
GEV's call wall (1000) is a magnet and resistance; the put wall (975) is support in positive gamma but a through-level once price is below the flip.
GEV's max pain is 955 — the strike where the most options expire worthless. In a positive-gamma tape, price often gets drawn toward max pain into expiration.
Gamma exposure is a map of where option dealers are forced to hedge. Positive GEX = dealers sell strength / buy weakness (suppresses volatility, pins price). Negative GEX = dealers chase the move (amplifies volatility, trends). It tells you the character of the tape, not the direction. Full GEX guide →
The flip, walls and max pain before the open — free. No card required.
Also see the flow side: GEV options flow →
This is the free auto-read. Premium members get the daily SPY gamma drop — the map turned into a scenario-by-scenario trading plan — plus the live conviction desk and AI copilot.
Estimated from the GEV options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
