Net gamma exposure by strike ($M per 1% move) · estimated from the LOW options chain (Polygon).
As of the latest session, LOW is trading at $218.60 (+0.11% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 230 (upside magnet / resistance) and the put wall at 200 (downside level). Max pain is 220, and the options market is pricing a 1-sigma expected move of about ±6.1% (ATM IV 58%).
The gamma is stacked above spot: +$9M sits overhead against +$1M underneath, a 15.2-to-1 skew. That imbalance is a magnet — dealer hedging leans price upward toward 230 — but it is also why there is so little to catch LOW if it goes the other way.
One strike dominates the map: 200, carrying −$3M per 1% move — below the current price. Negative gamma that size behaves like an accelerant — dealers chase price through it rather than defending it.
The options market is pricing a 1-sigma move of ±6.1% (±$13.3) into the nearest expiry, with ATM implied volatility at 58% — neither stretched nor giving anything away.
That leaves a working band of 200 to 230 — 13.7% of spot, with +5.22% of room to the call wall and −8.51% 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 LOW on the live gamma map → · see how LOW compares across the whole board on the free market regime tracker · new to this? What is GEX →
LOW 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.
LOW's flip isn't resolvable from the current chain — check the live map for today's level.
The zero-gamma flip is the price where LOW's net dealer gamma crosses zero — above it price tends to pin, below it it tends to trend. See LOW's live flip on the free gamma map.
LOW's call wall (230) is a magnet and resistance; the put wall (200) is support in positive gamma but a through-level once price is below the flip.
LOW's max pain is 220 — 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 →
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Estimated from the LOW options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
