Net gamma exposure by strike ($M per 1% move) · estimated from the MRVL options chain (Polygon).
These are the 6 strikes carrying the most dealer gamma in MRVL right now. The heaviest is 190 at -5.9M per 1% move, 4.5% below spot — that is where hedging flow concentrates, and where price tends to slow down or stall.
| Strike | Net gamma | From spot | Effect |
|---|---|---|---|
| 200 | -5.8M | 0.5% | accelerates moves |
| 195 | -2.2M | -2.0% | accelerates moves |
| 190 | -5.9M | -4.5% | accelerates moves |
| 180 | -2.3M | -9.5% | accelerates moves |
| 175 | -4.8M | -12.1% | accelerates moves |
| 165 | -2.2M | -17.1% | accelerates moves |
As of the latest session, MRVL is trading at $199.00 (+1.45% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 205 (upside magnet / resistance) and the put wall at 190 (downside level). Max pain is 217.5, and the options market is pricing a 1-sigma expected move of about ±7.8% (ATM IV 86%).
One strike dominates the map: 190, carrying −$6M 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 86%, pricing a 1-sigma move of ±7.8% (±$15.5) 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 190 to 205 — 7.5% of spot, with +3.02% of room to the call wall and −4.52% 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 MRVL on the live gamma map → · see how MRVL compares across the whole board on the free market regime tracker · new to this? What is GEX →
MRVL 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.
MRVL's flip isn't resolvable from the current chain — check the live map for today's level.
MRVL'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.
MRVL's call wall (205) is a magnet and resistance; the put wall (190) is support in positive gamma but a through-level once price is below the flip.
217.5, for the 2026-11-06 expiry — 3 days out. Spot is $199.00, so max pain sits 9.3% above the current price. In negative gamma the pull is weak: dealers are amplifying moves, not damping them toward a strike.
About -24M 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 MRVL options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
