Net gamma exposure by strike ($M per 1% move) · estimated from the HIMS options chain (Polygon).
These are the 6 strikes carrying the most dealer gamma in HIMS right now. The heaviest is 17 at -0.3M per 1% move, 12.5% below spot — that is where hedging flow concentrates, and where price tends to slow down or stall.
| Strike | Net gamma | From spot | Effect |
|---|---|---|---|
| 21 | +0.2M | 8.1% | pins price |
| 20.5 | +0.2M | 5.6% | pins price |
| 20 | -0.2M | 3.0% | accelerates moves |
| 19 | -0.2M | -2.2% | accelerates moves |
| 18 | -0.2M | -7.3% | accelerates moves |
| 17 | -0.3M | -12.5% | accelerates moves |
As of the latest session, HIMS is trading at $19.42 (-1.56% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 21 (upside magnet / resistance) and the put wall at 19 (downside level). Max pain is 20.5, and the options market is pricing a 1-sigma expected move of about ±11.3% (ATM IV 88%).
One strike dominates the map: 17, carrying −$0M 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 88%, pricing a 1-sigma move of ±11.3% (±$2.2) 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 19 to 21 — 10.3% of spot, with +8.14% of room to the call wall and −2.16% 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 HIMS on the live gamma map → · see how HIMS compares across the whole board on the free market regime tracker · new to this? What is GEX →
HIMS 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.
HIMS's flip isn't resolvable from the current chain — check the live map for today's level.
HIMS'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.
HIMS's call wall (21) is a magnet and resistance; the put wall (19) is support in positive gamma but a through-level once price is below the flip.
20.5, for the 2026-11-20 expiry — 6 days out. Spot is $19.42, so max pain sits 5.6% above the current price. In negative gamma the pull is weak: dealers are amplifying moves, not damping them toward a strike.
About 0M per 1% move into the 2026-11-20 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 HIMS options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
