Net gamma exposure by strike ($M per 1% move) · estimated from the SOFI options chain (Polygon).
These are the 6 strikes carrying the most dealer gamma in SOFI right now. The heaviest is 16.5 at -4.1M per 1% move, 2.3% below spot — that is where hedging flow concentrates, and where price tends to slow down or stall.
| Strike | Net gamma | From spot | Effect |
|---|---|---|---|
| 20 | +2.2M | 18.4% | pins price |
| 19 | +1.7M | 12.5% | pins price |
| 18.5 | +1.4M | 9.5% | pins price |
| 17 | -2.4M | 0.7% | accelerates moves |
| 16.5 | -4.1M | -2.3% | accelerates moves |
| 16 | -2.8M | -5.3% | accelerates moves |
As of the latest session, SOFI is trading at $16.89 (+0.54% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 18.5 (upside magnet / resistance) and the put wall at 16.5 (downside level). Max pain is 18, and the options market is pricing a 1-sigma expected move of about ±2% (ATM IV 55%).
One strike dominates the map: 16.5, 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.
The options market is pricing a 1-sigma move of ±2% (±$0.35) into the nearest expiry, with ATM implied volatility at 55% — neither stretched nor giving anything away.
That leaves a working band of 16.5 to 18.5 — 11.8% of spot, with +9.53% of room to the call wall and −2.31% 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 SOFI on the live gamma map → · see how SOFI compares across the whole board on the free market regime tracker · new to this? What is GEX →
SOFI 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.
SOFI's flip isn't resolvable from the current chain — check the live map for today's level.
SOFI'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.
SOFI's call wall (18.5) is a magnet and resistance; the put wall (16.5) is support in positive gamma but a through-level once price is below the flip.
18, for the 2026-09-18 expiry — expiring today. Spot is $16.89, so max pain sits 6.6% above the current price. In negative gamma the pull is weak: dealers are amplifying moves, not damping them toward a strike.
About -4M per 1% move into the 2026-09-18 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 SOFI options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
