Net gamma exposure by strike ($M per 1% move) · estimated from the HOOD options chain (Polygon).
These are the 6 strikes carrying the most dealer gamma in HOOD right now. The heaviest is 90 at -2.5M per 1% move, 4.2% above spot — that is where hedging flow concentrates, and where price tends to slow down or stall.
| Strike | Net gamma | From spot | Effect |
|---|---|---|---|
| 94 | +1.5M | 8.8% | pins price |
| 93 | +1.7M | 7.7% | pins price |
| 90 | -2.5M | 4.2% | accelerates moves |
| 85 | -1.8M | -1.6% | accelerates moves |
| 80 | -2M | -7.4% | accelerates moves |
| 75 | -1.3M | -13.2% | accelerates moves |
As of the latest session, HOOD is trading at $86.37 (+1.65% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 93 (upside magnet / resistance) and the put wall at 90 (downside level). Max pain is 94, and the options market is pricing a 1-sigma expected move of about ±6.7% (ATM IV 64%).
The gamma is stacked above spot: +$6M sits overhead against +$1M underneath, a 10.7-to-1 skew. That imbalance is a magnet — dealer hedging leans price upward toward 93 — but it is also why there is so little to catch HOOD if it goes the other way.
One strike dominates the map: 90, carrying −$3M per 1% move — above 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 64%, pricing a 1-sigma move of ±6.7% (±$5.74) 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 90 to 93 — 3.5% of spot, with +7.68% of room to the call wall and +4.20% 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 HOOD on the live gamma map → · see how HOOD compares across the whole board on the free market regime tracker · new to this? What is GEX →
HOOD 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.
HOOD's flip isn't resolvable from the current chain — check the live map for today's level.
HOOD'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.
HOOD's call wall (93) is a magnet and resistance; the put wall (90) is support in positive gamma but a through-level once price is below the flip.
94, for the 2026-11-06 expiry — 4 days out. Spot is $86.37, so max pain sits 8.8% above the current price. In negative gamma the pull is weak: dealers are amplifying moves, not damping them toward a strike.
About -4M 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 HOOD options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
