Net gamma exposure by strike ($M per 1% move) · estimated from the ROST options chain (Polygon).
As of the latest session, ROST is trading at $245.36 (+0.16% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 260 (upside magnet / resistance) and the put wall at 220 (downside level). Max pain is 230, and the options market is pricing a 1-sigma expected move of about ±8.4% (ATM IV 80%).
The gamma is stacked above spot: +$3M sits overhead against +$1M underneath, a 3.6-to-1 skew. That imbalance is a magnet — dealer hedging leans price upward toward 260 — but it is also why there is so little to catch ROST if it goes the other way.
One strike dominates the map: 220, carrying −$4M 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 80%, pricing a 1-sigma move of ±8.4% (±$20.62) 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 220 to 260 — 16.3% of spot, with +5.97% of room to the call wall and −10.34% 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 ROST on the live gamma map → · see how ROST compares across the whole board on the free market regime tracker · new to this? What is GEX →
ROST 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.
ROST'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 ROST's net dealer gamma crosses zero — above it price tends to pin, below it it tends to trend. See ROST's live flip on the free gamma map.
ROST's call wall (260) is a magnet and resistance; the put wall (220) is support in positive gamma but a through-level once price is below the flip.
ROST's max pain is 230 — 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 ROST options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
