Net gamma exposure by strike ($M per 1% move) · estimated from the PFE options chain (Polygon).
These are the 6 strikes carrying the most dealer gamma in PFE right now. The heaviest is 30 at +16.2M per 1% move, 0.3% above spot — that is where hedging flow concentrates, and where price tends to slow down or stall.
| Strike | Net gamma | From spot | Effect |
|---|---|---|---|
| 33 | +1.7M | 10.4% | pins price |
| 32 | +4.9M | 7.0% | pins price |
| 31 | +6.4M | 3.7% | pins price |
| 30.5 | +2.4M | 2.0% | pins price |
| 30 | +16.2M | 0.3% | pins price |
| 29 | +3.8M | -3.0% | pins price |
As of the latest session, PFE is trading at $29.90 (-2.89% on the day). Net dealer gamma is positive, with the zero-gamma flip near 29.51. The call wall sits at 30 (upside magnet / resistance) and the put wall at 29.5 (downside level). Max pain is 28, and the options market is pricing a 1-sigma expected move of about ±0.9% (ATM IV 24%).
PFE holds a working cushion above its flip. Spot 29.9 sits +1.30% clear of 29.51, roughly 1.4× a normal session's expected move. Dealers are absorbing supply here, so pullbacks get bought back mechanically rather than because anyone decided PFE was cheap.
The gamma is stacked above spot: +$34M sits overhead against +$4M underneath, a 9.0-to-1 skew. That imbalance is a magnet — dealer hedging leans price upward toward 30 — but it is also why there is so little to catch PFE if it goes the other way.
One strike dominates the map: 30, carrying +$16M per 1% move — above the current price. Positive gamma that size behaves like a wall: rallies into it get sold by hedging flow, and dips toward it get bought.
Options are cheap here: ATM implied volatility is just 24%, pricing only ±0.9% (±$0.27) to the nearest expiry. When implied vol is this compressed against a positive-gamma book, buying optionality costs little — and it is usually compressed because the hedging flow has been suppressing realised movement.
Spot is effectively at the 30 call wall (+0.33% away), the top of a 29.5–30 band worth 1.7% of price. This is where hedging flow does the most work: expect supply into strength until the wall is decisively cleared.
Want it interactive? Open PFE on the live gamma map → · see how PFE compares across the whole board on the free market regime tracker · new to this? What is GEX →
PFE is in positive gamma with +1.30% of room above the 29.51 flip (about 1.4× a normal session). Dealers are damping moves, so expect a mean-reverting tape that pulls back toward the heavy strikes.
About +1.30%, which is roughly 1.4× the ±0.9% the options are pricing for one session. Under 1× means the flip is reachable in a normal day; over 2× means the regime is unlikely to change without a catalyst. We track this across every major index on the free regime dashboard.
PFE's flip is 29.51, with spot at $29.90. The level PFE would have to lose is 29.51, about 1.4× the ±0.9% one session is priced for.
PFE's call wall (30) is a magnet and resistance; the put wall (29.5) is support in positive gamma but a through-level once price is below the flip.
28, for the 2026-11-06 expiry — expiring today. Spot is $29.90, so max pain sits 6.4% below the current price — and with positive gamma this close to expiry, that gap is the pin risk.
About +34M per 1% move into the 2026-11-06 expiry — and with spot above the zero-gamma flip, dealer hedging works against the move and damps realised volatility. GEX describes the character of the tape, not the direction. How dealer gamma works →
The flip, walls and max pain before the open — free. No card required.
Also see the flow side: PFE options flow →
Posting the link is enough — X, Discord and Slack render the live data card automatically.
Live PFE dealer gamma, updates itself. No signup, no API key. Copy and paste:
Keep the credit line — it's the only thing we ask for.
This is the free auto-read. Premium members get the daily SPY gamma drop — the map turned into a scenario-by-scenario trading plan — plus the live conviction desk and AI copilot.
Estimated from the PFE options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
