Net gamma exposure by strike ($M per 1% move) · estimated from the LCID options chain (Polygon).
As of the latest session, LCID is trading at $4.07 (-2.05% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 4.5 (upside magnet / resistance) and the put wall at 4 (downside level). Max pain is 5, and the options market is pricing a 1-sigma expected move of about ±9.6% (ATM IV 91%).
One strike dominates the map: 3, 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 91%, pricing a 1-sigma move of ±9.6% (±$0.39) 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 4 to 4.5 — 12.3% of spot, with +10.57% of room to the call wall and −1.72% 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 LCID on the live gamma map → · see how LCID compares across the whole board on the free market regime tracker · new to this? What is GEX →
LCID 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.
LCID's flip isn't resolvable from the current chain — check the live map for today's level.
LCID'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.
LCID's call wall (4.5) is a magnet and resistance; the put wall (4) is support in positive gamma but a through-level once price is below the flip.
5, for the 2026-10-02 expiry — 4 days out. Spot is $4.07, so max pain sits 22.9% 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 2026-10-02 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 LCID options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
