Net gamma exposure by strike ($M per 1% move) · estimated from the MDB options chain (Polygon).
These are the 6 strikes carrying the most dealer gamma in MDB right now. The heaviest is 320 at -1.7M per 1% move, 2.7% below spot — that is where hedging flow concentrates, and where price tends to slow down or stall.
| Strike | Net gamma | From spot | Effect |
|---|---|---|---|
| 370 | +0.9M | 12.5% | pins price |
| 360 | +1.3M | 9.4% | pins price |
| 330 | -1.2M | 0.3% | accelerates moves |
| 320 | -1.7M | -2.7% | accelerates moves |
| 300 | -0.9M | -8.8% | accelerates moves |
| 290 | -1M | -11.9% | accelerates moves |
As of the latest session, MDB is trading at $329.00 (-1.9% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 360 (upside magnet / resistance) and the put wall at 320 (downside level). Max pain is 350, and the options market is pricing a 1-sigma expected move of about ±5.1% (ATM IV 97%).
One strike dominates the map: 320, carrying −$2M 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 97%, pricing a 1-sigma move of ±5.1% (±$16.63) 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 320 to 360 — 12.2% of spot, with +9.42% of room to the call wall and −2.74% 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 MDB on the live gamma map → · see how MDB compares across the whole board on the free market regime tracker · new to this? What is GEX →
MDB 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.
MDB's flip isn't resolvable from the current chain — check the live map for today's level.
MDB'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.
MDB's call wall (360) is a magnet and resistance; the put wall (320) is support in positive gamma but a through-level once price is below the flip.
350, for the 2026-11-06 expiry — 1 day out. Spot is $329.00, so max pain sits 6.4% above the current price. In negative gamma the pull is weak: dealers are amplifying moves, not damping them toward a strike.
About -5M 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 MDB options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
