Net gamma exposure by strike ($M per 1% move) · estimated from the TEAM options chain (Polygon).
These are the 6 strikes carrying the most dealer gamma in TEAM right now. The heaviest is 160 at -0.6M per 1% move, 14.4% below spot — that is where hedging flow concentrates, and where price tends to slow down or stall.
| Strike | Net gamma | From spot | Effect |
|---|---|---|---|
| 220 | +0.3M | 17.6% | pins price |
| 210 | +0.2M | 12.3% | pins price |
| 205 | +0.3M | 9.6% | pins price |
| 190 | +0.4M | 1.6% | pins price |
| 185 | -0.4M | -1.1% | accelerates moves |
| 160 | -0.6M | -14.4% | accelerates moves |
As of the latest session, TEAM is trading at $187.01 (-2.11% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 190 (upside magnet / resistance) and the put wall at 185 (downside level). Max pain is 190, and the options market is pricing a 1-sigma expected move of about ±15.1% (ATM IV 289%).
One strike dominates the map: 160, carrying −$1M 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 289%, pricing a 1-sigma move of ±15.1% (±$28.26) 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 185 to 190 — 2.7% of spot, with +1.60% of room to the call wall and −1.07% 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 TEAM on the live gamma map → · see how TEAM compares across the whole board on the free market regime tracker · new to this? What is GEX →
TEAM 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.
TEAM's flip isn't resolvable from the current chain — check the live map for today's level.
TEAM'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.
TEAM's call wall (190) is a magnet and resistance; the put wall (185) is support in positive gamma but a through-level once price is below the flip.
190, for the 2026-11-06 expiry — 1 day out. Spot is $187.01, so max pain sits 1.6% above the current price. In negative gamma the pull is weak: dealers are amplifying moves, not damping them toward a strike.
About 0M 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 TEAM options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
